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

2019 Average Production
77,977 boe/day
2019 Adjusted Funds Flow
$​335 Million $1.26/Share
Q4 2019 Average Production
77,962 boe/day
Q4 2019 Adjusted Funds Flow
$81 Million $0.​30/Share
2020 Estimated Average Production
80,000 - 82,000 boe/day
Operating Costs per BOE Q4 2019
$3.06/boe
2020 Capital Expenditure Program
$​340-360 Million
Drawn Bank Debt at December 31/19
$609 Million
Total Debt at December 31/19
$633 Million
TSX
BIR, BIR PR.A, BIR PR.C
Total Credit Facilities
$1.0 Billion
Montney/Doig Land Position (sections at Dec 31, 2019)
413.2 Net
2019 F&D Costs (P+P incl. FDC)
$6.22/BOE
December 31, 2019 Proved Developed Producing Reserves
207 Million BOE - 7 Year RLI
December 31, 2019 Proved Plus Probable Reserves
1,032 Million BOE - 35 Year RLI
Number of Montney/Doig Horizontal Wells Drilled as at Dec 31, 2019
425 (417.4 net)
Number of net Potential Future Montney/Doig Horizontal Wells (Dec 31, 2019)
7,044.6 net
Number of Common Shares Outstanding at December 31/19
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