Documente Academic
Documente Profesional
Documente Cultură
Presented By
Offering Overview
OFFERING MAP
Central Alberta
Viking / Greater Coleville
Central Alberta
Southern Alberta
Southern Alberta
Southwest Saskatchewan
Southeast Saskatchewan /
Central Manitoba
LEGEND
Fee Land
Royalty Land
Royalty Area Boundary
LEGEND
ROYALTY AREA
Fee Land
Southeast Saskatchewan / Manitoba
Royalty Land
Southwest Saskatchewan
Royalty Area Boundary
Viking / Greater Coleville
Central Alberta
Southern Alberta
TOTAL OFFERING
REVENUE AS AT 10/31/14
1 MONTH
($m)
12 MONTHS
($m)
ROYALTY LAND
(acres)
PRODUCTION 10/14
(boe/d)
$697.3
$9,427
109,769
1,687
3,300
279
$135.2
$1,460
10,890
119
321
56
$225.1
$3,640
40,856
4,187
5,084
107
$329.8
$4,165
67,270
200
240
272
$28.0
$514
58,788
319
178
28
$1,415.4
$19,208
287,575
6,511
9,122
742
TD Energy Advisors
PRODUCTION SUMMARY(1)
750
4,000
600
3,000
450
2,000
300
1,000
150
October 2014
(boe/d)
5,000
1 Month
($m)
OFFERING DESCRIPTION
900
6,000
2012
Oil RI Revenue
2013
2014
Liquids RI Revenue
Gas RI Revenue
2012
2013
Oil RI Production
2014
Liquids RI Production
Gas RI Production
AREA CHARACTERISTICS
ROYALTY AREA
PRODUCING ZONES
Bakken
Southeast Saskatchewan /
Lodgepole
Manitoba
Frobisher
Midale
Tilston
COMMODITY
SPLIT
(% Oil)
INDUSTRY ACTIVITY
WELLS
(Last 3 Years)
92%
385
Crescent Point
Corex
Tundra
TOP OPERATORS
Legacy
Spartan
Southwest Saskatchewan
Shaunavon
Cantuar
93%
15
Crescent Point
Viking
Mannville
Bakken
Lloydminster
78%
449
ISH Energy
Northern Blizzard
Beaumont
Novus
Spur
Raging River
Central Alberta
Cardium
Glauconitic
17%
56
Bellatrix
NAL
Bonavista
Southern Alberta
Barons
Glauconitic
Livingstone
21%
10
Journey
TD Energy Advisors
Process
Penn West Petroleum Ltd. (Penn West or PWT or the Company)
has engaged TD Securities as its exclusive financial advisor to manage a
process to sell certain assets (the Sale Process or the Offering) and
to solicit formal expressions of interest (the Proposals) from Interested
Parties.
TD Securities
421 - 7th Avenue S.W., 36th Floor
Calgary, Alberta T2P 2Z2
F: 403 292 2776
Rodrigo Sousa
Managing Director
T: 403 503 4851
rodrigo.sousa@tdsecurities.com
Robert Mason
Managing Director
T: 403 292 1282
robert.mason@tdsecurities.com
Mark Kuhn
Managing Director
T: 403 503 4852
mark.kuhn@tdsecurities.com
Alan Cooper
Vice President
T: 403 299 7918
alan.cooper@tdsecurities.com
Ruben Contreras
Director
T: 403 503 4853
ruben.contreras@tdsecurities.com
Matthew Rachiele
Vice President
T: 403 292 1285
matthew.rachiele@tdsecurities.com
Timing
Pre-marketing Teaser Distribution: February 2, 2015
Virtual Data Room Open: February 9, 2015
Bid Date: March 10, 2015; 12:00 PM MDT
TD Energy Advisors
Disclaimer
This document was prepared solely for informational purposes and is being provided to assist prospective purchasers in considering their interest in acquiring certain assets of Penn West
Petroleum Ltd. (the Company). The Company has retained TD Securities Inc. (TD Securities) as its exclusive financial advisor in connection with this transaction. By accepting this
document, the recipient acknowledges that it has read, understood and accepted the terms of this notice.
This document is not intended to form the basis of any investment decision and does not constitute an offer, solicitation, advertisement, recommendation or invitation for the sale or
purchase of securities or any of the business assets described herein. This document is not and under no circumstances is to be construed as (i) a prospectus, a public offering or an
offering memorandum, or (ii) a report, statement or opinion of an expert, each as defined under applicable securities laws. This document contains information that may constitute
undisclosed material facts within the meaning of applicable securities laws and the recipient should be aware of its obligations under applicable securities laws resulting from the receipt
of such information.
Nothing in this document should be construed as giving legal, investment or other advice of any kind. The recipient should consult its own professional advisors as to legal, tax and
related matters concerning an acquisition of certain assets of the Company. This document is intended only for persons reasonably believed to be sufficiently expert to understand the
risks involved. The recipient should conduct its own investigation, analysis and evaluation of these assets.
The information in this document, which does not purport to be comprehensive and does not include all of the information that a prospective purchaser may require, has been provided
by the Company and other sources and has not been independently verified by TD Securities. Any estimates and projections contained herein are for illustrative purposes only and
are based on numerous assumptions that are subject to significant risks and uncertainties and may prove to be incomplete or inaccurate. The information contained herein must be
considered as a whole and selecting portions of the analyses without considering all of the factors and analyses together, could create a misleading view of the presentation. The
preparation of a document such as this is complex and is not necessarily susceptible to partial analysis or summary description. Any attempt to do so could lend to undue emphasis on
any particular factor or analysis.
None of the Company, TD Securities or any of their respective affiliates, directors, officers, employees, shareholders, agents, representatives, consultants or advisors (collectively, their
Representatives), makes any representations or warranties, express or implied, as to the accuracy or completeness of this document or any other written or oral information made
available (collectively, the Information). None of the Company, TD Securities or any of their respective Representatives accepts any responsibility or liability in relation to the accuracy
or completeness of the Information, errors therein or omissions therefrom, and any liability therefor is hereby expressly disclaimed. The recipient shall be entitled to rely solely on the
representations and warranties, if any, made to it in any definitive purchase agreement when and if one is executed. The recipient is responsible for satisfying itself as to the accuracy
and completeness of all Information.
The Company and TD Securities reserve the right to amend or replace this document at any time but have no obligation to do so. None of the Company, TD Securities or their respective
Representatives undertakes any obligation to (i) update or otherwise revise or correct any inaccuracies which become apparent in the Information, or (ii) provide the recipient with access
to any additional information. This document shall not be deemed an indication of the state of affairs of the Company nor shall it constitute an indication that there has been no change
in the business or affairs of the Company since the date hereof. Nothing herein is or should be relied upon as a promise or representation as to the future.
The Company reserves the right to: (i) negotiate with one or more persons at any time and to enter into a definitive purchase agreement without prior notice to the recipient or any other
person; (ii) terminate further participation in the investigation and proposal process by any person; (iii) request the return of this document and any other Information provided to the
recipient; and (iv) modify any procedures relating to this process without assigning any reason therefor. The issuance of this document shall not be taken as any form of commitment or
obligation on the part of the Company or TD Securities to proceed with any transaction.
All communications, inquiries and requests for information relating to this document should be addressed only to TD Securities, as representative of the Company. The management or
other employees of the Company should not be contacted either directly or indirectly.
The recipient agrees with the Company that it will not use this document or any other Information for any purpose other than considering its interest in acquiring certain assets of the
Company. The recipient further agrees that it will not copy or reproduce in any electronic or physical form or distribute, communicate, disclose or otherwise make available in whole or in
part to any other person this document or any other Information, including without limitation the information that the Company is considering the transaction contemplated herein. This
document, as well as any other Information that subsequently may be provided by the Company, TD Securities or their respective Representatives, and any copies of such Information,
is to be returned or destroyed promptly upon request by the Company, TD Securities or their respective Representatives.
TD Energy Advisors