CANBRIAM ENERGY INC. CANBRIAM ENERGY FIELD DEVELOPMENT MODELLING USE CASE: STARTED FROM EXCEL NOW WE RE HERE 24 OCTOBER 2017 HOLLIE CORBIERE

Transcription

1 CANBRIAM ENERGY INC. CANBRIAM ENERGY FIELD DEVELOPMENT MODELLING USE CASE: STARTED FROM EXCEL NOW WE RE HERE 24 OCTOBER 2017 HOLLIE CORBIERE

2 Agenda Canbriam Energy Overview Why we adopted Enersight How we use Enersight Limitations of Enersight Further integration with AFE Nav Wrap up 2

3 Canbriam Energy overview An integrated, BC Montney natural gas growth company with differentiated resource quality Started in 2007 ~70 employees Montney trend Fort St. John Private company focused in the Altares region of the prolific Montney formation in northeast BC 100% owned & operated infrastructure; sales capacity currently ~40,000 BOE/d Deep inventory of overpressured, liquids-rich locations with stable, lowdecline production base 2 miles North Altares Enbridg e T North b-24-h Refrig Facility 50 mmcf/d Altares Processing Facility (b-72-a Refrig Facility 160 mmcf/d phases 1 & 2) Dehy & compression Facility 10 mmcf/d South Altares Vancouver Edmonton Calgary 65-70% working interest 100% working interest Non-Montney lands Natural gas processing plant Enbridge T North 3 Canbriam Energy Corporate presentation

4 Why we adopted Enersight The evaluation to move away from Excel to Enersight Excel Enersight Quick & simple tools Laborious to update model Detailed Modelling & reporting Initial Set-Up Enterprisewide tool Sensitivity Limitations Ever-Evolving Learning Curve Wide user base Errors & Audit trail Company-wide tool Black box Personal Community Formulas & functions 4

5 How we use Enersight A look at how the tool is used in our planning processes Tool used primarily for: Evaluating development options Understanding sensitivities Tracking actuals Supporting business decisions Enersight Inputs constantly evolving Price forecasts D&C Schedules Type curves Processes Enersight supports: Budget & long range plan Quarterly Board meetings Monthly capital & production forecast review Marketing analysis M&A; asset evaluations Ad hoc analysis Downtime, shrinkage, shut-in schedule Transportation costs Enersight Facilities schedules & capacities Operating costs Base production 5

6 How we use Enersight: Examples of analysis using Enersight Data Enersight enables us to spend more time to look at stuff like this 6

7 How we use Enersight: Scenario analysis A look into the number of scenarios evaluated in a given month Various scenarios in each model Vary drill schedules, facility timing, pace of development, capital assumptions and price forecasts Allows for better analysis and more information to make decisions Quick turn around, once the model is built 80 Funding analysis cases Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep Case count Cumulative

8 Limitations of Enersight I m sorry it s not perfect! No dedicated free condensate stream Current process: Separate node in Enersight separate reporting & copying & pasting of outputs Capture of transportation/pricing complexity Current process: Modelled in Excel & results uploaded into price files and data tables Financial analysis,e.g. hedges Current process: Modelled in separate Excel funding sheet Capital and production actuals from Qbyte and ValNav Current process: Dumped from Qbyte (capital) and ValNav (base production) and uploaded via a csv file 8

9 Further integration with AFE Navigator Adding to Canbriam s software toolbox Longer term integrated systems model: 9

10 Wrap up Conclusions: Enersight & AFE Navigator are great products Increased buy-in and better integration throughout the company Overcoming challenges Overall Enersight has improved the way we model our business and analyze our development options Any questions? 10

11 Canbriam Energy Inc. 2100, nd Street SW Calgary, AB Canada T2P 1M4 Tel: Hollie Corbiere Corporate Planning Analyst hcorbiere@canbriam.com Copyright 2015 Canbriam Energy Inc. All rights reserved.