Corporate Presentation - Investors - Birchcliff Energy

Corporate Presentation Summary

Growth by the drill bit

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

2020 Average Production
76,401 boe/day
2020 Adjusted Funds Flow
$​185 Million $0.69/Share
Q3 2021 Average Production
84,924 boe/day
Q3 2021 Adjusted Funds Flow
$168.1 Million $0.​63/Share
2021 Estimated Average Production
79,000 - 80,000 boe/day
Operating Costs per BOE Q3 2021
$2.96/boe
2021 Capital Expenditure Program
$​225 - $230 Million
Drawn Bank Debt at September 30/21
$648 Million
Total Debt at September 30/21
$638 Million
TSX
BIR, BIR PR.A, BIR PR.C
Total Credit Facilities
$850 Million
Montney/Doig Land Position (sections at Dec 31, 2020)
415.7 Net
2020 F&D Costs (P+P incl. FDC)
$6.66/BOE
December 31, 2020 Proved Developed Producing Reserves
207 Million BOE - 7 Year RLI
December 31, 2020 Proved Plus Probable Reserves
1,040 Million BOE - 36 Year RLI
Number of Montney/Doig Horizontal Wells Drilled as at Dec 31, 2020
453 (449.9 net)
Number of net Potential Future Montney/Doig Horizontal Wells (Dec 31, 2020)
7,204.5 net
Number of Common Shares Outstanding at September 30/21
26​​6 Million
Perpetual Preferred Shares Series A
2 Million - BIR PR.A
Perpetual Preferred Shares Series C
1.6 Million - BIR PR.C

Keys to success

89% average working interest in undeveloped land

99% of production is operated

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