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Delphi Energy Corp
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2015 EPAC Oil & Gas Investor Showcase
| David Reid | Page 3 of 11 |
November 23, 2024
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"2015 EPAC Oil & Gas Investor Showcase"
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DELPHI: A SUSTAINABLE BUSINESS MODEL • Cash generating capability remains healthy in current environment • Balanced revenue stream (2014: 49% Gas, 51% Condensate/NGL’s) • Significant commodity hedge position for 2015 and 2016 • Efficient cost structure contributing to continued value creation • Delphi’s Bigstone Montney remains a Top Tier growth asset: • Still has favorable economics in the current commodity price environment: • Revenue – Production Costs = Netback – PDP F&D Costs = Free Cash Flow • $28.00/boe – $13.00/boe = $15.00/boe - $13.00/boe = $2.00/boe • Well payouts remain attractive at 1.3 years • Free cash generated at payout remains significant • Early in OPEX and CAPEX optimization process • Slowing the pace of growth for 2015 to a cash flow only CAPEX budget • Montney growth slowing to 10-15% in 2015 from 100% in 2014 • Significant drilling inventory for continued economic growth at Bigstone