Corporate Presentation - Investors - Birchcliff Energy

Corporate Presentation Summary

High working interest, operated production, low operating costs, surrounded by a large, undeveloped land base where Birchcliff has ownership control or access to infrastructure.

Corporate Summary

2018 Average Production
77,096 boe/day
2018 Adjusted Funds Flow
$​313 Million $1.18/Share
Q4 2018 Average Production
76,408 boe/day
Q4 2018 Adjusted Funds Flow
$82 Million $0.​31/Share
2018 Estimated Average Production
76,000 - 78,000 boe/day
Operating Costs per BOE Q4 2018
$3.51/boe
2019 Capital Expenditure Program
$​204 Million
Drawn Bank Debt at December 31/18
$605 Million
Total Debt at December 31/18
$627 Million
TSX 300
BIR, BIR PR.A, BIR PR.C
Total Credit Facilities
$950 Million
Montney/Doig Land Position (sections at Dec 31, 2018)
367.4 Net
2018 F&D Costs (P+P incl. FDC)
$1.27/BOE
December 31, 2018 Proved Developed Producing Reserves
204 Million BOE - 7 Year RLI
December 31, 2018 Proved Plus Probable Reserves
1,002 Million BOE - 36 Year RLI
Number of Montney/Doig Horizontal Wells Drilled as at Dec 31, 2018
3​85 (380.6 net)
Number of net Potential Future Montney/Doig Horizontal Wells (Dec 31, 2018)
6365.8 net
Number of Common Shares Outstanding at Dec 31/18
26​​5.9 Million
Perpetual Preferred Shares Series A
2 Million - BIR PR.A
Perpetual Preferred Shares Series C
2 Million - BIR PR.C

Keys to success

91% average working interest in undeveloped land

99% of production is operated

99% of new drilling and completions, initiated and controlled by BIR