DENVER, June 25, 2019 /PRNewswire/ -- The oil and gas companies presenting at EnerCom's 24^th annual The Oil & Gas Conference^® are largely independent exploration and production companies developing oil and gas assets. The conference affords oil and gas analysts, portfolio managers, family offices and other buyside investors an extensive view of U.S. and Canadian shale companies, Latin American conventionals and U.S. offshore drillers–all in one place: Denver, Colorado.   

The 24^th edition of one of the industry's largest independent upstream oil and gas-focused conferences takes place Aug. 11-14, 2019, at Denver, Colorado's downtown Westin hotel.  

Additional Presenting Companies on Day Two of the 2019 EnerCom Conference

The second day of the EnerCom conference includes the following oil and gas company management teams:

• Advantage Oil & Gas Ltd. (TSX: AAV) – 45,000 BOEPD total production; company transitioning to Middle Montney liquids production at its Glacier free-cash generating asset, from Valhalla and Pipestone/Wembley; company targeting 10,000 bbls/day condensate and light oil in 2021
• Anschutz Exploration Corporation (private company) - independent oil and gas company with current projects in the Powder River and Washakie Basins of Wyoming, the Piceance and DJ Basins of Colorado and the Uinta Basin of Utah  
• Bellatrix Exploration, Ltd. (TSX: BXE) - 37,000 BOEPD Alberta Deep Basin producer with 860 drilling locations in Ferrier, Willesden Green and Greater Pembina; benefiting from high-porosity/low-cost Spirit River play economics
• Brigham Minerals, Inc. (NYSE: MNRL) – founded by Chairman Bud Brigham; has acquired 68,000 net acres of mineral rights in U.S. shale plays—Williston, DJ, Delaware, Midland, SCOOP/STACK; 71,500 net royalty acres; net production of 5,382 BOEPD; 860 DUCs 1Q 2019
• CorEnergy Infrastructure Trust, Inc. (NYSE: CORR) – infrastructure REIT strategy, qualifying assets = wires, pipes, storage and offshore platforms; current assets of CORR include Grand Isle gathering system on GOM shelf, Pinedale liquids gathering system, MoGas and Omega pipelines
• Denbury Resources, Inc. (NYSE: DNR) – 60% of 59,000 BOEPD production comes from CO2 EOR, 97% oil; 1 billion BOE proved + EOR, exploitation potential; Gulf Coast region operations include Texas, Louisiana, Mississippi with Rocky Mountain region operations in Wyoming, Montana, ND
• Drillinginfo (private company) – 5,000 energy, power, and commodities users access its SaaS platform to access sophisticated technology, analytics, and data to analyze and reduce risk, conduct competitive benchmarking, receive upstream, midstream, downstream market insights
• Earthstone Energy (NYSE: ESTE) – Texas operator focused in the Midland Basin (30,200 core net acres) and Eagle Ford (14,000 core net acres); 11,000 BOEPD in Q1 2019 (86% of production is from the Midland); 99 million BOE 1P reserves
• Evolution Petroleum (NYSE American: EPM) - Delhi Field CO2 project expansion ongoing into 2020 and beyond; net liquids production 2,000 BOEPD; 9.4 million BOE proved reserves; pays 40 cents per share dividend annualized; $30 million cash, zero debt; 7 consecutive years of net income
• Laredo Petroleum (NYSE: LPI) – developing 122,500 net acres in the Permian Basin; infrastructure assets include water, natural gas gathering and distribution pipelines; expects 78,500 BOEPD production in Q2 2019 (with 28,500 BOPD of oil)
• Northern Oil and Gas, Inc. (NYSE American: NOG) – non-op building minority working interests in the Williston Basin Bakken/Three Forks plays; 160,000 net acres, 34,600 BOEPD production
• NuVista Energy Ltd. (TSX: NVA) – 50,000 BOEPD pure-play Montney producer targeting 10%-15% per year growth within adjusted funds flow; 30% condensate production; key plays include Pipestone, Gold Creek, Bilbo and Elmworth
• Painted Pony Energy Ltd. (TSX: PONY) – A Montney pure-play natural gas producer with 195,000 net acres in the British Columbia Montney; 1.0 Tcfe of proved developed producing reserves
• PDC Energy, Inc. (NASDAQ: PDCE) – DJ Basin Wattenberg (96,000 acres, 425 MMBOE proved reserves) and Delaware Basin (42,000 net acres, 120 MMBOE proved reserves) operator expecting 46 – 50 MMBOE production, ~ $900 million adj. cash flow from operations in 2019
• PetroTal Corp. (TSX-V: TAL; LSE: PTAL) – focused on Peru with 100% working interest in Bretana Block 95 (17.9 MMBO 1P reserves, estimating 5,000 BOPD production 2H 2019, 100% oil) and Block 107 (534 MMBOE at Osheki prospect)
• QEP Resources, Inc. (NYSE: QEP) Permian and Williston basins producer with 49,000 net acres in the Midland basin, 114,000 net acres in the Williston; total production of ~3 MMBO from the Permian in Q1 2019.
• Range Resources (NYSE: RRC) – discovered, pioneered the Marcellus shale play; 875,000 acres and 1.9 Bcfe/day net production from Appalachia Q4 2018; 18.1 Tcfe of proved reserves company-wide as of Dec. 31, 2018
• Samson Resources II, LLC (private company) – pure play Wyoming E&P with 208,000 net acres in the Powder River and Greater Green River basins; 6,450 BOEPD production as of Dec. 2018
• Superior Drilling Products, Inc. (NYSE American: SDPI) – manufactures drilling tool technologies including PDC bit re-manufacturing process, Drill-N-Ream^® upstream wellbore tool and Strider™ drill string technology; 21 patents issued or pending; North America and the Middle East operations
• Talos Energy (NYSE: TALO) – Explores, acquires, develops oil-weighted, operated Gulf of Mexico assets near existing infrastructure; 2018's Zama discovery offshore Mexico anticipates 2020 FID; 53,400 BOEPD company production; 149 million BOE of proved reserves
• Unit Corp. (NYSE: UNT) – diversified via E&P operations (Q1 production 45,800 BOEPD) in the Permian, Anadarko, Mississippian, Arkoma, North Louisiana/East Texas, and Gulf Coast onshore); 57 contract drilling rigs; midstream operations in Kansas, Oklahoma, Texas, Marcellus

The daily schedule of presenters is also posted on the website (presenters, days, times are subject to change). The conference investor presentations begin at 7:30 a.m. and run through 4:30 p.m.

Expert Speakers: Global energy industry leaders, economists, market strategists, government officials, energy finance professionals and other energy experts will provide their insights on global commodities markets, energy exports, frac sand supply and logistics, and capital sources for energy development.   

On Aug. 13^th, Harvard PhD (Economics) and CIBC Capital Markets CIBC (NYSE: CM) Chief Economist Avery Shenfeld, repeat winner of Dow Jones MarketWatch forecasting award and Bloomberg Markets' awards for forecasting accuracy, will deliver his views on where oil and gas markets are headed.

Tuesday's keynote luncheon is a "Fireside Chat" with outspoken, legendary oilman Continental Resources (NYSE: CLR) Chairman and CEO Harold Hamm.

Online Registration is Open for EnerCom's 24^TH Annual The Oil & Gas Conference^®:  Buyside investors and oil and gas company professionals may register for the event through the conference website registration page. 

Conference Details: The Oil & Gas Conference^® 24 offers investment professionals the opportunity to listen to senior management teams in the oil and gas industry present operational and financial strategies and to gain exposure to important energy topics affecting the global oil and gas industry.

The EnerCom conference forum fosters healthy dialogue and informal networking opportunities for attendees at several sponsored events the week of the conference.  

Public and Private Company Presenters: The 2019 edition of EnerCom's The Oil & Gas Conference^® will feature public and private oil and gas companies with operations around the world including the U.S. shale basins, the Gulf of Mexico and Canada.  A work-in-progress list of the 2019 presenting companies will be updated on the conference website. The daily schedule of presenters is also posted on the website (presenters, days, times are subject to change).

How to Hear the Luncheon Speakers:  Completing online registration well in advance of The Oil & Gas Conference^® will provide your best chance to gain insight from Occidental Petroleum SVP and chief financial officer Cedric Burgher, Continental Resources Chairman and CEO Harold Hamm, and global supermajor Eni, SpA VP of North America Investor Relations Andrew Lees.

Who Attends the Conference: More than 2,000 institutional, private equity and hedge fund investors, family offices, energy research analysts, retail brokers, trust officers, high net worth investors, investment bankers and energy industry professionals gather in Denver for the conference.

One-on-One Meetings:  EnerCom works in advance with presenting company management teams to arrange one-on-one meetings with the attending institutional investors and research analysts at the conference venue. In 2018, EnerCom arranged and managed more than 2,000 one-on-one meeting requests.

How to Register:  Investment professionals and oil and gas companies may register for the event through the conference website. 

EnerCom History and Sponsors: EnerCom, Inc. founded The Oil & Gas Conference^® in 1996. It is the oldest and largest energy investment conference in Denver.

Global sponsors of EnerCom's conferences are Netherland, Sewell & Associates; and Drillinginfo.

Sponsors of The Oil & Gas Conference^® 24 include CIBC; Credit Agricole CIB; McGriff, Seibels & Williams; Haynes and Boone; Moss Adams; PNC; Preng & Associates; Bank of America Merrill Lynch; DNB Bank ASA; Holland & Hart; MUFG; Petrie Partners; SMBC; and Wells Fargo.

About EnerCom, Inc.

Since 1994 EnerCom, Inc. has developed into a nationally recognized management consultancy advising oil and gas industry clients on corporate strategy, asset valuations, investor relations, media relations, external communications and visual communications design. 

EnerCom produces and publishes numerous data products and external communications tools for public energy companies and oil and gas investors including:

• Investor relations consulting services and investor roadshows specific to the oil and gas industry – contact Aaron Vandeford 303-296-8834  EXT: 222
• Corporate annual reports, oil and gas company websites, custom stratigraphic and subsurface illustrations, company investor presentations – contact Aaron Vandeford
• Oil & Gas 360^® - an online daily industry financial news portal – advertising or company-wide subscriptions contact Ken Caiani 303-296-8834   EXT: 227
• Digital marketing services and lead generation for oilfield service and technology companies – contact Ken Caiani

Headquartered in Denver, with senior consultants in Dallas, EnerCom uses the team approach for delivering its wide range of services to public and private companies, large and small, operating in the global exploration and production, OilService, capital markets, and associated advanced-technology industries. EnerCom's professionals have more than 170 years of industry and business experience and a proven track record of success.

EnerCom's upcoming oil and gas investment conferences include:

EnerCom Denver (The Oil & Gas Conference^®) – August 11-14, 2019
EnerCom Dallas – March 4-5, 2020

For more information about EnerCom and its services, please visit http://www.enercominc.com/ or call +1 303-296-8834 to speak with the management team or one of our consultants.

Netherland, Sewell & Associates, Inc.

Netherland, Sewell & Associates, Inc. (NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations and government agencies. With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. They provide reserves reports and audits, acquisition and divestiture evaluations, simulation studies, exploration resources assessments, equity determinations, and management and advisory services. For a complete list of services or to learn more about Netherland, Sewell & Associates, Inc. please visit www.netherlandsewell.com.

For more information about NSAI, call C.H. (Scott) Rees, Chief Executive Officer, at 214-969-5401 or send an email to info@nsai-petro.com.

Drillinginfo

Drillinginfo delivers business-critical insights to the energy, power, and commodities markets. Its state-of-the-art SaaS platform offers sophisticated technology, powerful analytics, and industry-leading data. Drillinginfo's solutions deliver value across upstream, midstream and downstream markets, empowering exploration and production (E&P), oilfield services, midstream, utilities, trading and risk, and capital markets companies to be more collaborative, efficient, and competitive. Drillinginfo delivers actionable intelligence over mobile, web, and desktop to analyze and reduce risk, conduct competitive benchmarking, and uncover market insights. Drillinginfo serves over 5,000 companies globally from its Austin, Texas headquarters and has more than 1,000 employees.

For more information visit drillinginfo.com

CIBC

CIBC is a leading Canadian-based global financial institution with a reputation as a strong, reliable banking partner focused on delivering customized products and services built on innovative thinking and leading technology.

Through our major business units – Canadian Personal & Business Banking, Canadian Commercial Banking & Wealth Management, U.S. Commercial Banking & Wealth Management and Capital Markets – our more than 45,000 employees provide a full range of financial products and services to 10 million clients around the world.

With offices throughout North America and other major financial centers, we are widely recognized as a strong global financial institution with more than $634 billion in assets and a market capitalization of $50 billion. We are rated A+ by Standard & Poor's, Aa2 by Moody's Investor Service and AA- by Fitch Ratings.

Our dedicated industry specialists based in Houston, New York, Calgary, London, Hong Kong, Beijing, Tokyo, Singapore and Sydney draw on the breadth of our capabilities to support firms across the entire energy value chain. From credit commitments, A&D advisory, M&A, and capital markets, we help our clients achieve their objectives and unlock value across a range of market conditions.

Visit www.cibccm.com/energy to learn more about CIBC Capital Markets and our energy capabilities.

Crédit Agricole Corporate and Investment Bank

Crédit Agricole Corporate and Investment Bank is the corporate and investment banking arm of the Crédit Agricole Group, the world's eighth largest bank by total assets (The Banker, July 2014). Crédit Agricole CIB offers its clients a comprehensive range of products and services in capital markets, brokerage, investment banking, structured finance, corporate banking, and international private banking.

With headquarters in New York City, and U.S. offices in Houston and Chicago, Credit Agricole CIB Americas offers its corporate and institutional clients financial products and services and made-to-order structuring, origination and distribution, through both its banking unit Credit Agricole CIB, and the full-service broker-dealer Credit Agricole Securities (USA) Inc., which is a member of the NYSE and NASD.  Credit Agricole CIB is also present in Montreal, Canada, and in Latin America with offices in Argentina, Brazil, and Mexico.

The Energy Industry represents the single largest concentration of industry exposure at Credit Agricole Corporate and Investment Bank, whose specialty focus dates back over 100 years. Our Energy practice for North America, located in Houston, focuses on all segments of the business and covers it on a truly global basis.

For more information, visit www.ca-cib.com.

McGriff, Seibels & Williams

As one of the most progressive insurance brokerage firms in the United States, McGriff, Seibels & Williams leads the way with innovative programs to protect our clients' financial interests.

Our experienced professionals work with some of the world's largest corporations to design state-of-the-art solutions for a full range of needs "…from property and casualty exposures…to employee benefits, life and pension plans…to financial services and surety products…to specialty insurance programs."

Our philosophy of personal service and attention to individual needs puts the client at the top of our organizational chart. We work to make each relationship a long-term partnership that continues to grow in value.

For more information please visit mcgriff.com.

Haynes and Boone

Haynes and Boone, LLP is an energy-focused corporate law firm, providing a full spectrum of legal services to our clients across the oil and gas industry, including the upstream, midstream, and downstream sectors. We serve energy clients from our offices in Texas, Colorado, New York, California, Washington, D.C., London, Mexico City and Shanghai. We work as a team representing U.S. and foreign public and private companies engaged in the dynamic day-to-day work of finding and extracting oil and gas, and the banks, investment funds and other investors that support them.

Our team of more than 100 energy lawyers and landmen understands the U.S. and international physical and financial energy markets, and the firm has been helping operators and lenders complete some of the largest financings and M&A transactions in recent years. With more than 600 attorneys, Haynes and Boone is ranked among the largest law firms in the nation by The National Law Journal, and our energy lawyers have been ranked by publications such as Best Lawyers in America, Chambers and Partners and Who's Who in Energy.

For more info, please visit www.haynesboone.com.

Moss Adams LLP

For more than 30 years, Hein & Associates has been recognized throughout the industry as a leading oil and gas accounting and advisory firm. In late 2017, Hein combined with Moss Adams LLP, one of the largest accounting, consulting and wealth management firms in the nation, creating a $600 million middle-market accounting/tax/audit leader in the western U.S. with a strong oil & gas practice group.

With more than 2,900 professionals and staff across more than 25 locations in the West and beyond, Moss Adams works with many of the world's most innovative companies and leaders. Our strength in the middle market enables us to advise clients at all intervals of development—from start-up, to rapid growth and expansion, to transition. Today, we help over 2,300 companies doing business in more than 100 countries and territories.

For more information, please contact Joe Blice, Partner, National Practice Leader, Oil & Gas, CPA joe.blice@mossadams.com, (972) 687-7818.

Moss Adams LLP provides details at https://www.mossadams.com/home .

PNC Financial Services Group

PNC is one of the largest, best-regarded and best-capitalized financial services companies in the country, with approximately $325 billion in assets and offices in 33 states, Canada and the United Kingdom.

PNC's Energy Group, headed by Tom Byargeon, is a significant capital and service provider to energy companies, with approximately $6.5 billion in commitments to the industry. The Energy office in Houston houses a team with extensive experience and deep relationships across the entire energy supply chain. This group also offers strategic corporate finance advice and delivers PNC's comprehensive set of solutions and capabilities, including commodity and interest rate hedging, debt capital markets, loan syndications, treasury management, asset securitization, equipment finance and institutional investments.

For more information, please contact Tom Byargeon at 713-353-8782 or tom.byargeon@pnc.com. You can also visit www.pnc.com.

Preng & Associates

Preng & Associates, founded in 1980, is the only retainer-based, international executive search firm specializing solely in the energy industry. Its number one priority is to assist clients with their executive selection, organization development, and human resource needs by providing the highest quality service. Preng's record of accomplishment is directly attributable to their experienced staff, worldwide network of industry contacts, proven search methodology, and high standards of professionalism. Preng has conducted over 3000 searches for board, executive, management, and professional positions in its 35-year history and has the highest success and repeat client track record.

Preng's practice is based on the premise that the search process is most effective when conducted by professionals with significant search industry experience. The company has earned a reputation for combining professional search disciplines with an in-depth industry and market understanding and has succeeded in some of the industry's most challenging and high-profile searches. Preng's international reach allows it to effectively conduct global engagements; and as a member of the Association of Executive Search Consultants, Preng practices and promotes its high standards of conduct and professionalism.

For more information about Preng & Associates, contact Charles Carpenter, Partner at 713-243-2610 or ccarpenter@preng.com.

Bank of America Merrill Lynch

Bank of America Merrill Lynch Oil and Gas Group

The Bank of America Merrill Lynch (BofAML) Oil and Gas practice is comprised of a global team of bankers dedicated to covering the energy industry, dating back to the 1920s when Texas predecessor banks pioneered reserve-based lending.  The practice includes an experienced in-house Petroleum Engineering team with over 150 years of combined experience. With one of the only full-service financial energy platforms in the industry, the BofAML oil and gas team manages significant capital commitments in the energy sector with dedicated bankers based in Calgary, Denver, Dallas, Houston, London and New York.

The BofA Merrill Lynch Global Research platform offers clients access to information and actionable ideas on stocks, bonds, economics and investment strategies. With approximately 700 analysts in more than 20 countries, we offer our clients knowledge about economic and business developments that are having an impact on the markets, so that they can work with their financial advisors to make the most of opportunities.  BofA Merrill Lynch Global Research was ranked No. 1 for the fourth consecutive year on the 2014 list of Top Global Research Firms, Institutional Investor. 

DNB ASA

DNB is Norway's largest financial services provider, with total assets approaching $400 billion. The bank has for years been a major provider of capital to the oil & gas industry, growing up literally side by side with the highly prolific fields developed in the Norwegian Sector of the North Sea. The Oslo Energy Office maintains a global financing strategy and serves this market through multiple offices around the world including Houston, London and Singapore.

Energy Americas, based in Houston, comprises approximately 20 seasoned energy finance professionals. Aside from facilitating the bank's global business strategies, the office concentrates primarily on serving middle market and larger customers in the four principal oil & gas sectors — upstream, midstream, downstream and service — as well as in Power and Renewables. The bank offers a variety of financial products, from traditional oil & gas reserve financing, to longer-term capital markets transactions and merger/acquisition advisory services through its broker-dealer arm, DNB Markets, Inc. Ancillary service capabilities include cash management/depository services, as well as commodity and interest rate hedging.

For information on DNB's energy services, please visit the DNB energy website.

Holland & Hart

Holland & Hart's oil and gas clients include the major, large independent producers and small to medium sized independents.

The Mountain West is one of the nation's leading oil and gas producing regions, and we are the only law firm with established oil and gas lawyers in every state in the region. We provide clients broad-based, in-depth industry knowledge and legal capabilities by local practitioners who have long-standing professional relationships with decision makers in each of the Mountain West states.

We assist clients at every stage of the oil and gas business, from upstream activities including exploration, production, secondary and tertiary recovery, to midstream gathering and processing activities; and to downstream elements including refining, pipelines, local distribution, marketing, and Federal and State utility regulation. Within each segment of the oil and gas business, Holland & Hart's regional team has experience providing representation every step of the way.

For details, please contact Lisa Adelberg in the Denver office: (303) 295-8148.   

MUFG

Mitsubishi UFJ Financial Group (MUFG) has been a leading provider of banking services to the oil and gas industry in the Americas for more than 30 years, consistently ranking in the Top 10 Lead Arrangers and Top 10 Bond Arrangers in the Thomson Reuters Oil and Gas League Tables.

We support clients across the industry—from regional exploration and production to global diversified services companies—that benefit from our focused approach, strong execution, and customized services. Whether you are looking to expand existing reserves, make an acquisition, or streamline operations, we can support your growth with services, including: underwriting and syndications; U.S./Canadian cross-border funding; securities underwriting and placements; leasing and tax equity financing; and commodities, interest rate, and foreign exchange risk management. 

For more information, visit: www.mufgamericas.com/oil-gas.

Petrie Partners

Petrie Partners, LLC is a boutique investment banking firm offering financial advisory services to the oil and gas industry. We provide specialized advice on mergers, divestitures and acquisitions and private placements.

For more information please refer to petrie.com.

SMBC

Sumitomo Mitsui Banking Corporation (SMBC) is a core member of Sumitomo Mitsui Financial Group (SMFG), a Tokyo-based bank holding company that is ranked among the largest 25 banks globally by assets under management.

SMBC Americas Division, with more than 2,500 employees, oversees operations in the U.S., Canada, Mexico, and South America. We work across SMFG to offer corporate and institutional clients sophisticated and comprehensive financial services around the globe.

SMBC's roots in Japan trace back more than 400 years to 1590. The Americas Division of SMBC has more than a century of experience in the United States, beginning when the San Francisco branch of Sumitomo Bank was established in 1919. Sumitomo Mitsui Financial Group (NYSE: SMFG) was listed on the New York Stock Exchange in 2010.

For more information please visit the corporate website: www.smbcgroup.com/americas/group-companies/

Wells Fargo & Company

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy.

The Energy Banking Group, headed by Bart Schouest, provides corporate banking products and services to the energy sector, including upstream, midstream, oilfield services, and diversified industries. With offices in Houston, Dallas, Denver, Calgary, and Aberdeen the group's success is driven by in-depth industry expertise and longstanding relationships with key industry participants. The group has over $45 billion of credit commitments to public and private companies across the upstream, midstream, downstream, services, and power and utilities sectors.

The Energy & Power Investment Banking Group, headed by James Kipp, provides strategic advisory and corporate finance expertise to energy and power clients, including upstream, midstream, oilfield services, downstream, coal and the power & utilities sectors. Areas of focus include equity, equity-linked and debt underwritings, private placements, syndications, and mergers and acquisitions. The Energy & Power Investment Banking Group has offices in Houston and Charlotte.

These teams work together to offer clients industry and product expertise, in addition to sharing their understanding of internal and external forces that drive both industry trends and financial markets. For additional information, contact us at 713-319-1350 or Energy@wellsfargo.com.

 

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SOURCE EnerCom, Inc.

(TSX: AAV, NYSE: AAV)

CALGARY, Aug. 31, 2018 /PRNewswire/ - On August 31, 2018 the board of directors (the "Board") of Advantage Oil & Gas Ltd. ("Advantage" or the "Company") approved the delisting of the Company's common shares (the "Common Shares") from the New York Stock Exchange ("NYSE").  On August 31, 2018, the Company notified the NYSE of its intention to file a Form 25 with the Securities and Exchange Commission (the "SEC") on or about September 10, 2018 to effect the voluntary delisting from the NYSE of the Common Shares.  On or about September 20, 2018 the Company intends to file a Form 15 with the SEC to terminate the registration of the Common Shares and suspend the Company's reporting obligations under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

The Company made the decision to delist the Common Shares from the NYSE and terminate registration under the Exchange Act following the Company's review and careful consideration of the administrative burden and the costs and benefits of being a U.S. reporting company.  The savings derived from this change are expected to be financially meaningful.  Advantage will continue to comply with its Canadian continuous disclosure obligations and the Common Shares will continue to trade on the Toronto Stock Exchange.

View original content with multimedia:http://www.prnewswire.com/news-releases/advantage-announces-us-delisting-and-deregistration-300705595.html

SOURCE Advantage Oil & Gas Ltd.

Commissioning of Glacier Gas Plant Expansion to 400 mmcf/d Creates Significant Available Processing Capacity for Future Growth

(TSX: AAV, NYSE: AAV)

CALGARY, Aug. 2, 2018 /PRNewswire/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") successfully commissioned its major gas plant expansion project in the second quarter of 2018 at the Corporation's 100% owned Glacier sour gas facility.  This is a strategic milestone in the development of Advantage's Montney resource as our expanded Glacier gas plant now contains significant spare capacity to accommodate future liquids-rich production growth from Glacier and our additional land blocks at Valhalla, Wembley/Pipestone and Progress.  The expansion increased processing capacity of raw gas to 400 mmcf/d (second largest Alberta producer owned licensed sour gas plant) and shallow cut liquids extraction to 6,800 bbls/d, providing approximately 125 mmcf/d of current spare raw gas processing capacity.  This spare capacity supports Advantage's higher focus on increasing its liquid-rich production and also provides flexibility to readily increase natural gas production in response to price improvements.

In April 2018, Advantage provided updated guidance which included moderated natural gas production in response to low prices and confirmed plans to redirect more of its future capital investments into the Corporation's significant and growing inventory of liquids-rich drilling opportunities. 

During the second quarter of 2018, average production was 212.1 mmcfe/d (35,352 boe/d), including liquids production of 1,067 bbls/d (70% condensate), with total per unit cash costs of $1.21/mcfe.  Total cash costs are expected to return to approximately $1.10/mcfe to $1.20/mcfe, including operating costs of $0.24/mcfe to $0.28/mcfe, for the remainder of 2018 due to higher production rates. Capital expenditures during the quarter of $25.8 million were largely funded from cash flow of $23.2 million ($0.12/share) despite a 58% decrease in the AECO daily natural gas price.  The Corporation renewed its annual credit facility of $400 million with improved borrowing terms and maintained a strong balance sheet with a total debt to trailing 12 month cash flow ratio of 1.7.  Current production is approximately 270 mmcfe/d (45,000 boe/d) including liquids production of approximately 1,700 bbls/d. 

Advantage's increased focus on liquids-rich activities during the second half of 2018 includes commencing production from 5 standing liquids-rich Middle Montney wells and the commencement of a drilling program which includes 10 Middle Montney wells in east Glacier and an additional 5 liquids-rich wells at Valhalla.  Construction plans were finalized for Advantage's new Valhalla facility which includes a compressor station and liquids handling hub with project completion scheduled in the fourth quarter of 2018. 

At our ultra-rich liquids asset at Wembley/Pipestone, we advanced work on selecting routes to extend Advantage's current gathering pipeline system into this area and have secured a firm third party processing arrangement for up to 10 mmcf/d of capacity beginning in the latter half of 2019 for added flexibility and optionality.  Our excitement continues to build in regard to the upside value of Advantage's entire Wembley/Pipestone land block based on recently released industry well test information on each side of our asset.

The Corporation strengthened its commodity hedging position by monetizing certain in-the-money 2018 and 2019 NYMEX-AECO differential swaps and applying the proceeds towards the acquisition of 62 mmcf/d of AECO monthly settled puts at $1.42 per mcf for June through September 2018 and 62 mmcf/d of enhanced AECO fixed price swaps at $1.77 per mcf for the April 2019 to October 2019 period. The restructuring of these transactions provides Advantage with greater price and cash flow certainty during planned third party maintenance activities which have and are anticipated to create significant gas price volatility.  For the second half of 2018 the Corporation has total fixed price hedges for 112 mmcf/d with 77 mmcf/d at an AECO average price of $2.29 Cdn/mcf and 35 mmcf/d at a Dawn average price of $2.85 US/mmbtu.  In 2019, Advantage has 81 mmcf/d hedged with 75 mmcf/d at an AECO average price of $2.26 Cdn/mcf and 6 mmcf/d at a Dawn average price of $3.13 US/mmbtu.  The Corporation's AECO price exposure is estimated by Management to be approximately 25% of total revenue through to 2020 as a result of the Advantage's revenue diversification program. 

Operations Update

Glacier

Six Middle Montney and two Lower Montney wells located on an eight well pad in the western portion of Glacier were completed in the first quarter of 2018 and were designed to evaluate the impact of tighter frac spacing in an area where there are few Middle Montney wells.

The six Middle Montney wells on this pad contained an average frac count of 34 stages per well representing a 76% increase over our previous Middle Montney wells.  Four of the six wells have been placed on production with flow duration ranging from 30 to 100 days. On average, the wells have flowed 62 days at an average restricted rate of 8.3 mmcf/d representing a 62% increase over our unrestricted type curve.  Production rates remain restricted on all wells with a current average flowing wellhead pressure of 8,600 kPa

The two Lower Montney wells have been on restricted production for 17 days averaging 7.5 mmcf/d with current flowing pressures of 10,000 kPa which significantly exceeds the flowing pressure assumption in our average dry gas type curve.

We have spud the first well of a 10 well Middle Montney pad located in east Glacier where initial C3+ liquid yields have been approximately 50 to 80 bbls/mmcf  (approximately 50% C5+) and the knowledge gained in recent well completions in the western portion of Glacier will be used to further enhance well performance.

Valhalla

One of the standing Middle Montney wells was placed on production during the second quarter of 2018 and has produced under restricted flow at approximately 6 mmcf/d (20% above Advantage's Middle Montney average well type curve) at a flowing pressure of 6,900 kPa for 73 days.  Well production from Valhalla will remain restricted until Advantage's new Valhalla facility, which includes 40 mmcf/d of compression and liquids handling equipment, is completed in the fourth quarter of 2018.   This facility will increase the throughput capacity of our existing pipeline connecting Valhalla to Advantage's Glacier gas plant.   Two standing Upper Montney wells will also be brought on-production after the Valhalla facility is completed. 

Advantage will drill a new 5 well liquids-rich pad at Valhalla as part of our upcoming winter drilling program.   

Wembley/Pipestone

Construction work is scheduled to begin in August 2018 on the tie-in of Advantage's first delineation well at 12-25-72-8W6.  This well will be tied-in to a third party producer facility on a 'best-efforts' processing basis as available capacity continues to be increasingly constrained due to industry successes in this prolific condensate/oil fairway.

We continue to advance work towards extending Advantage's current gathering pipelines into this area and have secured a firm third party processing arrangement beginning in the latter half of 2019 that can provide up to 10 mmcf/d of capacity for added optionality. Advantage's facility and pipeline construction is expected to occur during the first half of 2020; although, Advantage will be prepared to commence this work earlier if the timeline can be shortened.

Recently released industry wells which offset our Wembley/Pipestone land block demonstrate similar results to our 12-25 well which was production tested earlier this year at 1,312 boe/d with 819 bbls/d of liquids including 624 bbls/d of wellhead condensate/oil and 2.9 mmcf/d of gas. 

Looking Forward

Advantage continues to build operational flexibility with a significant Montney resource of low cost prolific natural gas and liquids including condensate and oil.  This solid foundation which includes 200 net sections of Montney lands, 100% owned gas plant and an expanding pipeline infrastructure combined with an industry leading low cost structure is well positioned to create long term value.  Advantage will continue to closely monitor market conditions and respond promptly and responsibly in order to optimize the allocation of our capital investments. 

Second Quarter 2018

Operating and Financial Summary

 

The Corporation's unaudited interim condensed consolidated financial statements for the three and six months ended June 30, 2018 together with the notes thereto, and Management's Discussion and Analysis for the three and six months ended June 30, 2018 have been filed on SEDAR and with the SEC and are available on the Corporation's website at http://www.advantageog.com/investors/financial-reports/financial-reports-2018.

Advisory

The information in this press release contains certain forward-looking statements, including within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future intentions or performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "guidance", "demonstrate", "expect", "may", "can", "will", "project", "predict", "potential", "target", "intend", "could", "might", "should", "believe", "would" and similar expressions and include statements relating to, among other things, completion of expansion of the Corporation's Glacier gas plant, including the anticipated raw processing capacity and shallow cut propane plus liquids extraction capacity following such expansion; Advantage's expectation that the expansion of the Corporation's Glacier gas plant will support anticipated production growth; Advantage's focus on increasing liquids production; Advantage's ability to increase natural gas production in response to commodity price improvements; Advantage's drilling plans, including its plans to redirect more of its future capital investments into the liquids-rich drilling opportunities; the impact of third party processing on Advantage; the impact of third party maintenance activities of gas volatility; the Corporation's AECO price exposure; future well performance; the results of future operations, including the expected total production and liquids production; restrictions on well production at Valhalla; the timing of bringing certain Upper-Montney wells onto production; the anticipated timing of facility and pipeline construction, the tie-in of certain wells as well as Advantage's ability to begin construction earlier if necessary; Advantage's capital program for 2018, including the expected timing of incurring capital expenditures; the factors that Advantage believes will provide Advantage with the ability to respond promptly and responsibly to market conditions; and other matters. Advantage's actual decisions, activities, results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that Advantage will derive from them.

These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Advantage's control, including, but not limited to: changes in general economic, market and business conditions; industry conditions; impact of significant declines in market prices for oil and natural gas; actions by governmental or regulatory authorities including increasing taxes and changes in investment or other regulations; changes in tax laws, royalty regimes and incentive programs relating to the oil and gas industry; the effect of acquisitions; Advantage's success at acquisition, exploitation and development of reserves; failure to achieve production targets on timelines anticipated or at all; unexpected drilling results; changes in commodity prices, currency exchange rates, capital expenditures, reserves or reserves estimates and debt service requirements; the occurrence of unexpected events involved in the exploration for, and the operation and development of, oil and gas properties, including hazards such as fire, explosion, blowouts, cratering, and spills, each of which could result in substantial damage to wells, production facilities, other property and the environment or in personal injury; changes or fluctuations in production levels; individual well productivity; lack of available capacity on pipelines; delays in anticipated timing of drilling and completion of wells; delays in completion of the expansion of the Glacier gas plant; delays in completion of the facility at Valhalla; delays in construction and completion of other infrastructure projects; that test results are not indicative of future production rates; lack of available capacity on pipelines; competition from other producers; the lack of availability of qualified personnel or management; credit risk; changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; our ability to comply with current and future environmental or other laws; stock market volatility and market valuations; liabilities inherent in oil and natural gas operations; uncertainties associated with estimating oil and natural gas reserves; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; geological, technical, drilling and processing problems and other difficulties in producing petroleum reserves; ability to obtain required approvals of regulatory authorities; and ability to access sufficient capital from internal and external sources. Many of these risks and uncertainties and additional risk factors are described in the Corporation's Annual Information Form dated March 5, 2018, which is available at www.Sedar.com and www.advantageog.com. Readers are also referred to risk factors described in other documents Advantage files with Canadian securities authorities.

With respect to forward-looking statements contained in this press release, Advantage has made assumptions regarding, but not limited to: timing of regulatory approvals; conditions in general economic and financial markets; effects of regulation by governmental agencies; current and future commodity prices and royalty regimes; future exchange rates; royalty rates; future operating costs, cash costs and liquids transportation costs; frac stages per well; lateral lengths per well; well costs; expected annual production growth rates; availability of skilled labor; availability of drilling and related equipment; timing and amount of capital expenditures; the impact of increasing competition; the price of crude oil and natural gas; that the Corporation will have sufficient cash flow, debt or equity sources or other financial resources required to fund its capital and operating expenditures and requirements as needed; that the Corporation's conduct and results of operations will be consistent with its expectations; that the Corporation will have the ability to develop the Corporation's properties in the manner currently contemplated; available pipeline capacity; that the Corporation will be able to complete the expansion and increase capacity at the Glacier gas plant; that Advantage's production will increase; current or, where applicable, proposed assumed industry conditions, laws and regulations will continue in effect or as anticipated; and that the estimates of the Corporation's production and reserves volumes and the assumptions related thereto (including commodity prices and development costs) are accurate in all material respects. Production estimates contained herein are expressed as anticipated average production over the calendar year. In determining anticipated production for the year ended December 31, 2018 Advantage considered historical drilling, completion and production results for prior years and took into account the estimated impact on production of the Corporation's 2018 expected drilling and completion activities.

Management has included the above summary of assumptions and risks related to forward-looking information in order to provide shareholders with a more complete perspective on Advantage's future operations and such information may not be appropriate for other purposes. Advantage's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Advantage will derive there from. Readers are cautioned that the foregoing lists of factors are not exhaustive. These forward-looking statements are made as of the date of this press release and Advantage disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

This press release contains a number of oil and gas metrics, including operating netbacks, which do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies and should not be used to make comparisons. Such metrics have been included herein to provide readers with additional measures to evaluate the Corporation's performance; however, such measures are not reliable indicators of the future performance of the Corporation and future performance may not compare to the performance in previous periods and therefore such metrics should not be unduly relied upon. Management uses these oil and gas metrics for its own performance measurements and to provide securityholders with measures to compare Advantage's operations over time. Readers are cautioned that the information provided by these metrics, or that can be derived from the metrics presented in this news release, should not be relied upon for investment or other purposes.

References in this press release to flow rates and other short-term production rates are useful in confirming the presence of hydrocarbons, however such rates are not determinative of the rates at which such wells will commence production and decline thereafter and are not indicative of long term performance or of ultimate recovery. Additionally, such rates may also include recovered "load oil" fluids used in well completion stimulation. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production of Advantage.

Barrels of oil equivalent (boe) and thousand cubic feet of natural gas equivalent (mcfe) may be misleading, particularly if used in isolation. Boe and mcfe conversion ratios have been calculated using a conversion rate of six thousand cubic feet of natural gas equivalent to one barrel of oil. A boe and mcfe conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

 

Non-GAAP Measures

The Corporation discloses several financial measures that do not have any standardized meaning prescribed under International Financial Reporting Standards ("IFRS"). These financial measures include funds from operations, operating netbacks, cash netbacks, cash costs and total debt to annualized cash flow ratio. Funds from operations, as presented, is based on cash provided by operating activities, before expenditures on decommissioning liability and changes in non-cash working capital, reduced for finance expense excluding accretion. Management believes these adjustments to cash provided by operating activities increase comparability between reporting periods. Operating netback is calculated by adding natural gas and liquids sales with realized gains and losses on derivatives and subtracting royalty expense, operating expense and transportation expense. Cash netbacks are dependent on the determination of funds from operations and include the primary cash sales and expenses on a per mcfe basis that comprise funds from operations. Total debt to cash flow ratio is calculated as indebtedness under the Corporation's credit facilities plus working capital deficit divided by funds from operations for the prior twelve month period.

Management believes that these financial measures are useful supplemental information to analyze operating performance and provide an indication of the results generated by the Corporation's principal business activities. Investors should be cautioned that these measures should not be construed as an alternative to net income or other measures of financial performance as determined in accordance with IFRS. Advantage's method of calculating these measures may differ from other companies, and accordingly, they may not be comparable to similar measures used by other companies. Please see the Corporation's most recent Management's Discussion and Analysis, which is available at www.sedar.com and www.advantageog.com for additional information about these financial measures, including a reconciliation of funds from operations to cash provided by operating activities.

View original content:http://www.prnewswire.com/news-releases/advantage-announces-second-quarter-2018-operating--financial-results-300691604.html

SOURCE Advantage Oil & Gas Ltd.

DENVER, Aug. 1, 2018 /PRNewswire/ -- Regardless of whether your area of interest in the U.S. energy sector is the shale plays and companies drilling the U.S. basins, offshore drilling in the Gulf of Mexico, oil pipelines, LNG exports, Texas-sourced frac sand, oilfield services or new oilfield technologies, the 23^rd annual EnerCom conference will deliver the best of the industry to the Denver Downtown Westin Hotel Denver Aug. 19-22, 2018.

The combined market value of the presenting public companies is more than $220 billion and the publicly-traded energy companies represent a combined enterprise value of more than $275 billion—55% higher than last year.

Several privately held E&Ps and related energy service companies will be at the conference in force as well this year, participating in a variety of panels at the conference. Conference attendees have a rare opportunity to hear from several large private operators who—unlike their publicly traded counterparts—often say nothing in public about their operations.

Among the private oil companies participating in the conference is Anschutz Exploration, a large operator with assets in the Powder River and Washakie Basins of Wyoming, the Piceance and DJ Basins of Colorado and the Unita Basin of Utah. Other private drillers include Permian producer Felix Energy, DJ Basin producer Great Western Oil & Gas, conventional Piceance gas producer Caerus Oil and Gas, and Powder River and Green River Basin operator Samson Resources II.

Who Attends the Conference: More than 2,000 institutional, private equity and hedge fund investors, energy research analysts, retail brokers, trust officers, high net worth investors, investment bankers and energy industry professionals gather in Denver for the conference.

One-on-One Meetings:  EnerCom works in advance with presenting company management teams to arrange one-on-one meetings with the attending institutional investors and research analysts at the conference venue. In 2017, EnerCom managed more than 2,100 one-on-one meeting requests. Buyside investors may request meetings on the conference website or contact EnerCom for more information at 303-296-8834.

How to Register:  Investment professionals and oil and gas companies can register for the event through the conference website. 

2018 Presenting Companies: The Oil & Gas Conference® 2018 presenting companies consist of the following:

• 43 North American shale E&Ps
• 7 international E&Ps
• 10 other producers
• 1 large midstream oil and NGLs shipper
• 1 LNG export project
• 9 oilfield service providers
• 20 private E&Ps, midstream, oilfield tech and data providers, energy market experts and private equity firms
• $220+ billion in market value
• 3.2 million barrels of oil equivalent production per day (MMBOEPD)
• 5 million barrels of crude oil/NGLs handled daily via 19,000 miles of crude/liquids pipelines, 100 million barrels of storage capacity and 10,000 rail cars
• $275+ billion in enterprise value

Looking at basin and sector, the 2018 EnerCom conference presenting companies and companies participating in panels break out as follows (list is subject to change prior to the conference– please refer to The Oil & Gas Conference website for an updated schedule of presenting companies):

Exploration & Production and Other Energy Companies by Focus Area and Sector

Bakken/Three Forks

• Enerplus Corp. (NYSE: ERF): E&P operating in the Bakken/Three Forks, Marcellus and Western Canada.
• Northern Oil & Gas (NYSE: NOG): Non-operator targeting the Bakken/Three Forks.
• Whiting Petroleum (NYSE: WLL): Bakken-focused operator with additional northeast Colorado assets.

Eagle Ford

• EOG Resources (NYSE: EOG): Large independent E&P producing the Delaware, Woodford, Eagle Ford, and Rocky Mountains – Q1 Revenues of $3.7 Billion; production of 660 MBOEPD
• Lonestar Resources (NASDAQ: LONE): Eagle Ford E&P with acreage throughout the play.
• SilverBow Resources (NYSE: SBOW): Gas-focused producer targeting southern Eagle Ford.
• Sundance Energy Australia (NASDAQ: SNDE): Pure-play Eagle Ford producer.
• WildHorse Resource Development (NYSE: WRD): Northern Eagle Ford operator with basin's second-largest acreage holdings.

Permian Basin

• Centennial Resource Development (NASDAQ: CDEV): Pure play Delaware Basin E&P company.
• Encana (NYSE: ECA): Diversified E&P company with operations in the Permian, Montney, Eagle Ford, Duvernay and San Juan Basin.
• Earthstone Energy (NYSE: ESTE): E&P company with operations in the Midland and Eagle Ford.
• Jagged Peak (NYSE: JAG): Pure play Delaware Basin operator.
• Legacy Reserves (NASDAQ: LGCY): MLP with assets in the Permian, East Texas, Rocky Mountains and Mid-Continent.
• Lilis Energy (NYSE: LLEX): Pure play Delaware Basin operator.
• QEP Resources (NYSE: QEP): Midland Basin player with additional acreage in Williston, Uinta and Haynesville.
• Rosehill Resources (NASDAQ: ROSE): Pure play Delaware Basin operator.
• SM Energy (NYSE: SM): Midland Basin producer with additional Eagle Ford operations.
• WPX Energy (NYSE: WPX): Delaware basin E&P company with additional extensive production from Williston.

Woodford & Other Mid-Continent – SCOOP/STACK

• Alta Mesa Resources (NASDAQ: AMR): E&P with operations in STACK portion of Anadarko Basin.
• BNK Petroleum (TSE: BKX): E&P with operations in Tishomingo Field of SCOOP portion of Ardmore Basin.
• Chaparral Energy (OTCMKTS: CHPE): Pure play STACK E&P company.
• Midstates Petroleum (NYSE: MPO): E&P producing from Mississippi Lime in Oklahoma.
• Panhandle Oil & Gas (NYSE: PHX): Leaseholder with interests in SCOOP/STACK, Oklahoma Woodford, Fayetteville and Eagle Ford.
• Unit Corp (NYSE: UNT): Vertically integrated energy company with drilling, producing and midstream businesses. Production in Mid Continent and Upper Gulf Coast.

Marcellus/Utica

• Cabot Oil & Gas (NYSE: COG): Pure play Marcellus E&P company.
• Eclipse Resources (NYSE: ECR): Appalachia-focused E&P company with assets in eastern Ohio.
• Range Resources (NYSE: RRC): Pennsylvania Marcellus producer with additional North Louisiana acreage.

Niobrara

• Bonanza Creek Energy (NYSE: BCEI): Wattenberg field, Mid-Continent producer
• HighPoint Resources (NYSE: HPR): Rocky Mountains-focused E&P with operations in the Wattenberg and Hereford fields.
• PDC Energy (NASDAQ: PDCE): Liquids-focused E&P in the DJ/Niobrara and Delaware basins.
• PetroShare (OTCMKTS: PRHR): Wattenberg producer active in southern portion of field.

Gulf of Mexico/Offshore

• GulfSlope Energy (OTCMKTS: GSPE): Louisiana offshore Gulf company, partnered with Delek for drilling new wells.
• Talos Energy (NYSE: TALO): E&P operator with focus on Louisiana Gulf of Mexico, additional properties in U.S. and Mexican GOM.

Haynesville

• Goodrich Petroleum (NYSE: GDP): E&P company with operations in the Haynesville and Tuscaloosa Marine Shale.

Pinedale – Jonah Field – Uinta Basin

• Ultra Petroleum (NASDAQ: UPL): E&P focused on Pinedale and Jonah fields, also developing Uinta basin.

Enhanced Oil Recovery

• Denbury Resources (NYSE: DNR): CO2 EOR production with activity in the Gulf Coast and Rocky Mountains.
• Elk Petroleum (ASX: ELK): CO2 EOR company with operations in Wyoming and Utah.
• Evolution Petroleum (NYSE: EPM): CO2 EOR production company. Pays a dividend.
• Mid-Con Energy Partners (NASDAQ: MCEP): CO2 EOR company with production in the Permian and Mid-Continent.

Canadian E&Ps

• Advantage Oil & Gas (NYSE: AAV): E&P focused on Montney formation in Alberta.
• Bellatrix Exploration (NYSR: BXE): E&P focused on the Western Sedimentary Basin in Alberta, Canada.
• Blackbird Energy (CVE: BBI): E&P focused on Pipestone Corridor of Montney formation in Alberta.
• Gear Energy (TSE: GXE): E&P operating heavy oil projects in Saskatchewan and light oil in Alberta.
• International Frontier Resources (TSX-V: IFR): E&P focused on operations in the Tecolutla block, onshore Mexico.
• Iron Bridge Resources (TSE: IBR): Developing an oil and liquids rich Montney resource at Elmworth/Gold Creek.
• NuVista Energy (TSE: NVA): Alberta-based operator focused on Wapiti Montney play.
• Painted Pony Energy (TSE: PONY): E&P producing natural gas from British Columbia Montney.
• Razor Energy (CVE: RZE): Alberta oil producer targeting Swan Hills and Kaybob Montney.
• Tamarack Valley Energy (TSE: TVE): Light oil producing E&P developing Cardium, Viking and Penny Barons plays.
• Vermilion Energy (NYSE: VET): E&P with extensive international diversification. Operations in Mannville, Cardium, Powder River Basin, offshore Australia and throughout Europe.

International E&Ps

• Alvopetro Energy (CVE: ALV): Gas-weighted E&P with operations in Brazil.
• Canacol Energy (TSE: CNE): Exploration portfolio encompassing 5 basins in Colombia and Ecuador.
• GeoPark Energy (NYSE: GPRK): International E&P with projects in Colombia, Argentina, Brazil, Chile and Peru.
• Gran Tierra Energy (NYSE: GTE): Oil-weighted E&P company with assets in Columbia.
• Jadestone Energy (CVE: JSE): E&P company with assets in Australia, Indonesia, Vietnam and Philippines.
• PetroTal (CVE: TAL): Canadian E&P company with assets in Peru.
• Valeura Energy (TSE: VLE): Canada-based company developing gas in Turkey.

LNG Export Projects

• Tellurian (NASDAQ: TELL): Houston-based LNG exporter and marketer founded by Charif Souki and Martin Houston. Tellurian's initial LNG export project (now under development) is Driftwood LNG near Lake Charles, La.

Oilfield Service Companies

• CES Energy Solutions (TSE: CEU): Provider of chemical solutions in drilling, production and specialty applications.
• Core Laboratories (NYSE: CLB): Reservoir technology and optimization company.
• EcoStim Energy Solutions (NASDAQ: ESES): Well stimulation operations in Oklahoma and Argentina.
• Flotek Industries (NYSE: FTK): Chemical solutions provider with additional reservoir characterization and engineering services.
• Independence Contract Drilling (NYSE: ICD): Drilling company focused on unconventional drilling.
• Key Energy Services (NYSE: KEG): Well service provider with rigs, coiled tubing, fishing and fluid management.
• Liberty Oilfield Services (NYSE: LBRT): Pressure pumping service provider.
• Nabors Industries (NYSE: NBR): Owns/operates world's largest land-based drilling fleet, also provides offshore drilling services, proprietary drilling software and specialty equipment.
• Superior Drilling Products (NYSE: SDPI): Drilling tool provider.

Midstream

• Plains All American Pipeline (NYSE: PAA): midstream energy infrastructure and logistics services for crude oil, natural gas liquids and natural gas.

Mineral, Royalty, Infrastructure Holders, Acquisition Companies

• Black Stone Minerals (NYSE: BSM): Holds 20 million gross acres throughout the U.S., with holdings in every major basin.
• CorEnergy Infrastructure Trust (NYSE: CORR): REIT owning energy infrastructure assets.
• Osprey Energy Acquisition Corp. (NASDAQ: OSPR) energy-focused special purpose acquisition corporation; completed $275 million IPO July 2017.

Private Companies – E&Ps, Midstream, Energy Data and Technology, Energy Capital, Government Energy Agencies

• Ameredev II
• Anschutz Exploration
• Atlas Sand
• BetaZi
• Bison Oil & Gas
• Blue Racer Midstream
• BTU Analytics
• Caerus Oil and Gas
• Canyon Creek Energy
• CIBC
• Comisión Nacional de Hidrocarburos (CNH)
• Credit Agricole CIB
• U.S. Energy Information Administration
• Felix Energy
• Fleur de Lis Energy
• Goodnight Midstream
• Great Western Oil & Gas
• GuildOne
• RS Energy
• Samson Resources II
• Tailwater Capital

A work-in-progress schedule of the 2018 presenting companies is posted on the conference website and is regularly updated.

Sponsors of The Oil & Gas Conference®

EnerCom History and Sponsors: EnerCom, Inc. founded The Oil & Gas Conference® in 1996. It is the oldest and largest independent energy investment conference in Denver.

Global sponsors of EnerCom's conferences are Netherland, Sewell & Associates; RS Energy Group; Moss Adams; and Preng & Associates. 

Sponsors of The Oil & Gas Conference® 23 are Bank of America Merrill Lynch; AssuredPartners; DNB Bank ASA; Fifth Third Bank; CIBC; Haynes and Boone; Credit Agricole CIB; Natixis; PJ SOLOMON; PNC Financial Services Group; Wells Fargo; MUFG; SMBC; Opportune LLP; Petrie Partners; EnergyNet; McGriff, Seibels & Williams, Inc.; Energy Intelligence; and TGS.

About EnerCom, Inc.

Since 1994 EnerCom, Inc. has developed into a nationally recognized oil and gas-focused investor relations consultancy advising oil and gas industry clients on corporate strategy, asset valuations, investor communications, media relations and providing visual communications design. 

EnerCom offers services and produces and publishes numerous data products and external communications tools for public and private energy companies including:

• peer group company valuations that are specific to the oil and gas industry;
• corporate annual reports, oil and gas company websites, custom stratigraphic and subsurface illustrations; company investor presentations; sustainability reports;
• complete digital marketing services and lead capture for oilfield services and technology companies;
• EnerCom's Monthly Oil & Gas Industry Data & Trends Report;
• Profile company listings and advertising opportunities in Oil & Gas 360® - one of the industry's most popular online daily news portals; and
• EnerCom 360 - the online magazine.

EnerCom's professionals have more than 170 years of industry and business experience and a proven track record of success.

Headquartered in Denver, with senior consultants in Dallas and Houston, EnerCom uses the team approach for delivering its wide range of services to public and private companies, large and small, operating in the global exploration and production, OilService, capital markets, and associated advanced-technology industries.

EnerCom's upcoming oil and gas investment conferences include:

EnerCom Denver (The Oil & Gas Conference®) – August 19-22, 2018
EnerCom Dallas – Feb. 27-28, 2019

For more information about EnerCom and its services, please visit http://www.enercominc.com/ or call +1 303-296-8834 to speak with the management team or one of our consultants.

About Netherland, Sewell & Associates, Inc.

Netherland, Sewell & Associates, Inc. (NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations and government agencies. With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. They provide reserves reports and audits, acquisition and divestiture evaluations, simulation studies, exploration resources assessments, equity determinations, and management and advisory services. For a complete list of services or to learn more about Netherland, Sewell & Associates, Inc. please visit www.netherlandsewell.com.

For more information about NSAI, call C.H. (Scott) Rees, Chief Executive Officer, at 214-969-5401 or send an email to info@nsai-petro.com.

About RS Energy Group

RS Energy Group (RSEG) provides data-driven intelligence: evaluate assets, weigh valuable M&A opportunities and benchmark your business for more precise decision-making.

RSEG officially released its data solution in April 2017. RS Data™ provides clients with corrected, multi-sourced permit, completion and production data of unparalleled completeness and quality.

Today, RSEG's intelligence covers more than 150 companies operating in every key North American and many international energy plays with a powerful combination of practical insights at the asset level and a long-standing participation in capital markets. RSEG's independent, unbiased and accurate analysis forms a foundation of trust with its clients. Its collaborative approach, both internally and as an extension of its clients' research efforts, promotes innovation and fosters intimate, long term partnerships.

RS Energy Group (RSEG) is headquartered in Calgary, Alberta, with strategic locations in Houston, New York City, Philadelphia, San Francisco and Los Angeles. Contact RS Energy Group by phone at (403) 294-9111, or email info@rseg.com.

About Moss Adams LLP

For more than 30 years, Hein & Associates has been recognized throughout the industry as a leading oil and gas accounting and advisory firm. In late 2017, Hein combined with Moss Adams LLP, one of the largest accounting, consulting and wealth management firms in the nation, creating a $600 million middle-market accounting/tax/audit leader in the western U.S. with a strong oil & gas practice group.

With more than 2,900 professionals and staff across more than 25 locations in the West and beyond, Moss Adams works with many of the world's most innovative companies and leaders. Our strength in the middle market enables us to advise clients at all intervals of development—from start-up, to rapid growth and expansion, to transition. Today, we help over 2,300 companies doing business in more than 100 countries and territories.

For more information, please contact Joe Blice, Partner, National Practice Leader, Oil & Gas, CPA joe.blice@mossadams.com, (972) 687-7818.

Moss Adams LLP provides details at https://www.mossadams.com/home .

About Preng & Associates

Preng & Associates, founded in 1980, is the only retainer-based, international executive search firm specializing solely in the energy industry. Its number one priority is to assist clients with their executive selection, organization development, and human resource needs by providing the highest quality service. Preng's record of accomplishment is directly attributable to their experienced staff, worldwide network of industry contacts, proven search methodology, and high standards of professionalism. Preng has conducted over 3000 searches for board, executive, management, and professional positions in its 35-year history and has the highest success and repeat client track record.

Preng's practice is based on the premise that the search process is most effective when conducted by professionals with significant search industry experience. The company has earned a reputation for combining professional search disciplines with an in-depth industry and market understanding and has succeeded in some of the industry's most challenging and high-profile searches. Preng's international reach allows it to effectively conduct global engagements; and as a member of the Association of Executive Search Consultants, Preng practices and promotes its high standards of conduct and professionalism.

For more information about Preng & Associates, contact Charles Carpenter, Partner at 713-243-2610 or ccarpenter@preng.com.

About Bank of America Merrill Lynch

Bank of America Merrill Lynch Oil and Gas Group

The Bank of America Merrill Lynch (BofAML) Oil and Gas practice is comprised of a global team of bankers dedicated to covering the energy industry, dating back to the 1920s when Texas predecessor banks pioneered reserve-based lending.  The practice includes an experienced in-house Petroleum Engineering team with over 150 years of combined experience. With one of the only full-service financial energy platforms in the industry, the BofAML oil and gas team manages significant capital commitments in the energy sector with dedicated bankers based in Calgary, Denver, Dallas, Houston, London and New York.

The BofA Merrill Lynch Global Research platform offers clients access to information and actionable ideas on stocks, bonds, economics and investment strategies. With approximately 700 analysts in more than 20 countries, we offer our clients knowledge about economic and business developments that are having an impact on the markets, so that they can work with their financial advisors to make the most of opportunities.  BofA Merrill Lynch Global Research was ranked No. 1 for the fourth consecutive year on the 2014 list of Top Global Research Firms, Institutional Investor. 

About AssuredPartners

AssuredPartners Colorado (AP CO) combines 30+ years of experience with leading-edge products to provide exceptional service and value to our customers. We provide a full range of brokerage services including employee benefits, property and casualty, and retirement. Headquartered in Colorado, we think globally but act locally, with personal services designed specifically for each individual client. AP CO utilizes resources with national networks of brokers to ensure we can meet your every need and find answers to your questions quickly and efficiently.

Our goal is to achieve a long-term relationship focused on bringing value to your employee benefits management and insurance programs. We are committed to utilizing our collective talent to support your insurance goals. We work to identify activities that drive claim frequency, and implement an action plan to control health care costs and promote a healthy work environment for your employees.

Securing the best insurance package for your business begins with planning. Analyzing all your risks is critical to successful implementation of your insurance plan. AP CO will partner with you by providing ongoing assistance, consultation and service that will help you control your insurance expenses, choose the best plan to fit your company's needs and promote health care consumerism.

For more information on Assured Partners, please visit the website, call (800) 322-9773 or email info@assuredptrco.com.

About DNB ASA

DNB is Norway's largest financial services provider, with total assets approaching $400 billion. The bank has for years been a major provider of capital to the oil & gas industry, growing up literally side by side with the highly prolific fields developed in the Norwegian Sector of the North Sea. The Oslo Energy Office maintains a global financing strategy, and serves this market through multiple offices around the world including Houston, London and Singapore.

Energy Americas, based in Houston, comprises approximately 20 seasoned energy finance professionals. Aside from facilitating the bank's global business strategies, the office concentrates primarily on serving middle market and larger customers in the four principal oil & gas sectors — upstream, midstream, downstream and service — as well as in Power and Renewables. The bank offers a variety of financial products, from traditional oil & gas reserve financing, to longer-term capital markets transactions and merger/acquisition advisory services through its broker-dealer arm, DNB Markets, Inc. Ancillary service capabilities include cash management/depository services, as well as commodity and interest rate hedging.

For information on DNB's energy services, please visit the DNB energy website.

About Fifth Third Bancorp

Fifth Third Bank is a diversified financial services company with over $120 billion in assets. The Bank's energy group is comprised of experienced and knowledgeable individuals that can assist in providing and structuring financial solutions to meet their clients' needs across the upstream, midstream, downstream and services sectors. Solutions and capabilities include commodity hedging, interest rate management, foreign exchange, debt capital markets, treasury management, and depository/investment products.

For more information, please contact Richard Butler at 713-401-6101 or richard.butler@53.com.

About CIBC

CIBC is a leading North American bank headquartered in Canada and with offices around the world. CIBC was originally founded nearly 150 years ago, and has supported and financed the energy industry for many decades. CIBC was recently ranked as the strongest publicly traded bank in North America by Bloomberg, and is rated A+/Aa3 by S&P and Moody's, respectively.

Our energy specialists draw on the breadth of CIBC's capabilities to provide market insights and creative solutions for our clients. Services include corporate banking, commodity and interest rate hedging and strategy, A&D advisory, and capital markets.

CIBC is publicly traded on the NYSE and Toronto Stock Exchange under the symbol "CM" and has a market cap of $36 billion and nearly $400 billion in total assets. For more information, please visit the CIBC energy website.

About Haynes and Boone

Haynes and Boone, LLP is an energy-focused corporate law firm, providing a full spectrum of legal services to our clients across the oil and gas industry, including the upstream, midstream, and downstream sectors. We serve energy clients from our offices in Texas, Colorado, New York, California, Washington, D.C., London, Mexico City and Shanghai. We work as a team representing U.S. and foreign public and private companies engaged in the dynamic day-to-day work of finding and extracting oil and gas, and the banks, investment funds and other investors that support them.

Our team of more than 100 energy lawyers and landmen understands the U.S. and international physical and financial energy markets, and the firm has been helping operators and lenders complete some of the largest financings and M&A transactions in recent years. With more than 600 attorneys, Haynes and Boone is ranked among the largest law firms in the nation by The National Law Journal, and our energy lawyers have been ranked by publications such as Best Lawyers in America, Chambers and Partners and Who's Who in Energy.

For more info, please visit www.haynesboone.com.

About Crédit Agricole Corporate and Investment Bank

Crédit Agricole Corporate and Investment Bank is the corporate and investment banking arm of the Crédit Agricole Group, the world's eighth largest bank by total assets (The Banker, July 2014). Crédit Agricole CIB offers its clients a comprehensive range of products and services in capital markets, brokerage, investment banking, structured finance, corporate banking, and international private banking.

The Bank provides support to clients in large international markets through its network, with a presence in major countries in Europe, the Americas, Asia and the Middle East.

With headquarters in New York City, and U.S. offices in Houston and Chicago, Credit Agricole CIB Americas offers its corporate and institutional clients financial products and services and made-to-order structuring, origination and distribution, through both its banking unit Credit Agricole CIB, and the full-service broker-dealer Credit Agricole Securities (USA) Inc., which is a member of the NYSE and NASD.  Credit Agricole CIB is also present in Montreal, Canada, and in Latin America with offices in Argentina, Brazil, and Mexico.

The Energy Industry represents the single largest concentration of industry exposure at Credit Agricole Corporate and Investment Bank, whose specialty focus dates back over 100 years. Our Energy practice for North America, located in Houston, focuses on all segments of the business and covers it on a truly global basis.

For more information, visit www.ca-cib.com.

About Natixis

Natixis is the international corporate and investment banking, asset management, insurance and financial services arm of Groupe BPCE, the second-largest banking group in France.

Natixis Corporate & Investment Banking advises and assists corporations, financial institutions, institutional investors, financial sponsors, public-sector organizations and the networks of Groupe BPCE.

We furnish a diversified array of financing solutions, provide access to capital markets and transaction banking services.

Areas of expertise include Advisory: M&A, primary equity, capital & rating advisory; Financing: vanilla and structured; Capital Markets: equities, fixed income, credit, forex and commodities; Global Transaction Banking: trade finance, cash management, liquidity management and correspondent banking; Research: economic, credit, equity and quantitative.

The Bank leverages the expertise and highly technical skills of its teams, and provides industry-recognized research to build innovative and mix-and-matchable solutions. Corporate and Investment Banking is present on the main financial markets via three international platforms: Americas, Asia-Pacific, and EMEA (Europe, Middle East, Africa).

About PJ SOLOMON

PJ SOLOMON is an investment banking advisory firm that provides strategic advisory services to chief executive officers and senior management, owners of public and private companies, boards of directors, and special committees.

Our full suite of advisory services includes Mergers and Acquisitions, Restructuring and Capital Markets across a range of industry verticals.

The PJ SOLOMON Energy Advisory Group provides strategic investment banking advisory services to public and private clients across the energy chain. Drawing upon our extensive sector relationships and deep strategic and operational expertise, we can offer a unique and valued advisory platform for the upstream, upstream A&D, midstream and the utility sectors.

Based in our Houston office, the PJ SOLOMON Energy team holds more than 100 years of experience on a broad range of domestic and cross-border transactions including mergers and acquisitions, A&D, restructurings, bankruptcies, and public and private capital raisings.

Industry sectors/sub-sectors include: Upstream, Upstream A&D, Midstream, Energy related and Utilities.

About PNC Financial Services Group

PNC is one of the largest, best-regarded and best-capitalized financial services companies in the country, with approximately $325 billion in assets and offices in 33 states, Canada and the United Kingdom.

PNC's Energy Group, headed by Tom Byargeon, is a significant capital and service provider to energy companies, with approximately $6.5 billion in commitments to the industry. The Energy office in Houston houses a team with extensive experience and deep relationships across the entire energy supply chain. This group also offers strategic corporate finance advice and delivers PNC's comprehensive set of solutions and capabilities, including commodity and interest rate hedging, debt capital markets, loan syndications, treasury management, asset securitization, equipment finance and institutional investments.

For more information, please contact Tom Byargeon at 713-353-8782 or tom.byargeon@pnc.com. You can also visit www.pnc.com.

About MUFG

Mitsubishi UFJ Financial Group (MUFG) has been a leading provider of banking services to the oil and gas industry in the Americas for more than 30 years, consistently ranking in the Top 10 Lead Arrangers and Top 10 Bond Arrangers in the Thomson Reuters Oil and Gas League Tables.

We support clients across the industry—from regional exploration and production to global diversified services companies—that benefit from our focused approach, strong execution, and customized services. Whether you are looking to expand existing reserves, make an acquisition, or streamline operations, we can support your growth with services, including: underwriting and syndications; U.S./Canadian cross-border funding; securities underwriting and placements; leasing and tax equity financing; and commodities, interest rate, and foreign exchange risk management. 

For more information, visit: www.mufgamericas.com/oil-gas.

About Wells Fargo & Company

Wells Fargo & Company is a nationwide, diversified, community-based financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy.

The Energy Banking Group, headed by Bart Schouest, provides corporate banking products and services to the energy sector, including upstream, midstream, oilfield services, and diversified industries. With offices in Houston, Dallas, Denver, Calgary, and Aberdeen the group's success is driven by in-depth industry expertise and longstanding relationships with key industry participants. The group has over $45 billion of credit commitments to public and private companies across the upstream, midstream, downstream, services, and power and utilities sectors.

The Energy & Power Investment Banking Group, headed by James Kipp, provides strategic advisory and corporate finance expertise to energy and power clients, including upstream, midstream, oilfield services, downstream, coal and the power & utilities sectors. Areas of focus include equity, equity-linked and debt underwritings, private placements, syndications, and mergers and acquisitions. The Energy & Power Investment Banking Group has offices in Houston and Charlotte.

These teams work together to offer clients industry and product expertise, in addition to sharing their understanding of internal and external forces that drive both industry trends and financial markets. For additional information, contact us at 713-319-1350 or Energy@wellsfargo.com.

To learn more about Wells Fargo & Company, please visit the company's web site at www.wellsfargo.com.

About SMBC

Sumitomo Mitsui Banking Corporation (SMBC) is a core member of Sumitomo Mitsui Financial Group (SMFG), a Tokyo-based bank holding company that is ranked among the largest 25 banks globally by assets under management.

SMBC Americas Division, with more than 2,500 employees, oversees operations in the U.S., Canada, Mexico, and South America. We work across SMFG to offer corporate and institutional clients sophisticated and comprehensive financial services around the globe.

SMBC's roots in Japan trace back more than 400 years to 1590. The Americas Division of SMBC has more than a century of experience in the United States, beginning when the San Francisco branch of Sumitomo Bank was established in 1919. Sumitomo Mitsui Financial Group (NYSE: SMFG) was listed on the New York Stock Exchange in 2010.

For more information please visit the corporate website: www.smbcgroup.com/americas/group-companies/

About Opportune LLP

Founded in 2005, Opportune is a leading global energy consulting firm specializing in adding value to clients across the energy industry, including upstream, midstream, downstream, power and gas, commodities trading and oilfield services.

Since we are not an audit firm, we are advocates of our clients and are not subject to the restrictions placed on other firms by regulatory bodies. Using our extensive knowledge of all sectors of the energy industry, we work with clients to provide comprehensive solutions to their operational and financial challenges. 

Our practice areas include complex financial reporting, dispute resolution, enterprise risk, outsourcing, process and technology, reserve engineering and geosciences, restructuring, strategy and organization, tax, transactional due diligence and valuation. Opportune LLP is not a CPA firm.

Opportune's corporate headquarters are in Houston, Texas. The firm also has offices in Dallas, Denver, New York City, Tulsa, and the UK. For more information please call Ashley Hunt, Marketing Coordinator,

713.490.5050 and visit the web site https://opportune.com/.

About Petrie Partners, LLC

Petrie Partners, LLC is a boutique investment banking firm offering financial advisory services to the oil and gas industry. We provide specialized advice on mergers, divestitures and acquisitions and private placements.

The firm was formed in 2011 (as Strategic Energy Advisors) by senior bankers formerly with Bank of America Merrill Lynch and Petrie Parkman & Co., an investment bank that built a reputation as a most trusted advisor to energy clients during the nearly two decades leading up to its merger into Merrill Lynch in 2006.

Through tenure with Petrie Parkman, Merrill Lynch and Bank of America Merrill Lynch, the senior members of the Petrie team bring to bear an average of more than 25 years of energy investment banking experience, including over 300 energy M&A and capital raising transactions representing over $350 billion of aggregate consideration.

For information about the firm, please visit www.petrie.com or call the firm's Denver office (303.953.6768) or the Houston office (713.659.0760).

About EnergyNet

EnergyNet is the only continuous oil and gas auction and sealed bid transaction service that facilitates the sale of producing working interests (operated and non-operated), overrides, royalties, mineral interests, and non-producing leasehold. EnergyNet is a continuous oil and gas property marketplace with due diligence and bidding available 24/7/365, where auctions and sealed bid packages close weekly. Most of the properties EnergyNet sells are located in the lower 48 United States and typically range in value from $1,000 to $100,000,000.

Details about how to buy and sell oil and gas properties using the EnergyNet online auction service are available on the website at https://www.energynet.com/.

About McGriff, Seibels & Williams, Inc.

McGriff, Seibels & Williams is one of the most progressive insurance brokerage firms in the United States, leading the way with innovative programs to protect clients' financial interests. Services include construction risk, energy and marine, surety, employee benefits and financial services. McGriff's Energy & Marine Division offers specialty services for clients with worldwide operations and potentially catastrophic exposures. Our expertise in this niche industry has made us one of the largest independent energy brokers in the U.S. and one of the top five energy brokers worldwide.

Our client base includes more than 50 electric/gas utility and merchant energy companies, several coal mining companies, and more than 70 E&P companies. It also includes the Strategic Petroleum Reserve and numerous oilfield service companies, including vessel operators, offshore drilling companies, and international marine construction companies.

We will structure and implement a domestic or foreign program for virtually any type of energy-related risk. We have more than 125 professionals in our energy division. Using alternative risk transfer and traditional insurance solutions, we determine the appropriate combination of coverage and risk assumption.

Please contact the company through the website or by calling 800 476 - 2211.

About Energy Intelligence

Energy Intelligence has been a leading independent provider of objective insight, unbiased analysis and reliable data for over 60 years. With offices in New York, London, Houston, Dubai, Moscow, Washington, Singapore and Brussels, we provide decision-makers with critically important information on issues and events affecting the global energy complex.

Our benchmark Information Services, Petroleum Intelligence Weekly, Oil Daily, Natural Gas Week, World Gas Intelligence and Energy Compass, are produced by highly experienced journalists, and our research reports and advisory services are provided by highly regarded analysts and economists.

Information on Energy Intelligence is available at the company website: https://www.energyintel.com/pages/non-subscriber.aspx

About TGS

TGS was founded in Houston in 1981 and over time built the dominant 2D multi-client data library in the Gulf of Mexico. The company expanded further into North America and West Africa and added a substantial 3D portfolio in the Gulf of Mexico.

Also in 1981, NOPEC was founded in Oslo and began building an industry-leading multi-client 2D database in the North Sea, with additional operations in Australia and the Far East. In 1997, NOPEC went public on the Oslo Stock Exchange. In 1998, the companies merged to form TGS-NOPEC Geophysical Company (TGS), creating a winning combination for investors, customers and employees. Since then, TGS has set the standard for geoscientific data around the world. 

Additional information is available at the company website: http://www.tgs.com/about-tgs/company-history/ .

 

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SOURCE EnerCom, Inc.

DENVER, July 25, 2018 /PRNewswire/ -- An impressive roster of CEOs across the upstream and oilfield service and technology spectrum will be at the Denver Downtown Westin Hotel Aug. 20, 21 and 22, 2018, to give presentations at EnerCom's The Oil & Gas Conference®.

EnerCom conference E&Ps are producing more than 3.2 million barrels of oil per day. The presenting North American shale E&Ps, other explorers and producers, international E&Ps, and global oilfield service and technology companies represent a combined market value of $203 billion and a combined enterprise value of $252 billion—53% higher than last year.

As to basin and sector, the 2018 EnerCom conference presenting companies break out as follows (list is subject to change prior to conference– please refer to The Oil & Gas Conference website for an updated schedule of presenting companies):

Exploration & Production, Oilfield Service Companies by Focus Area and Sector

Bakken/Three Forks

• Enerplus Corp. (NYSE: ERF): E&P operating in the Bakken/Three Forks, Marcellus and Western Canada.
• Northern Oil & Gas (NYSE: NOG): Non-operator targeting the Bakken/Three Forks.
• Whiting Petroleum (NYSE: WLL): Bakken-focused operator with additional northeast Colorado assets.

Eagle Ford

• EOG Resources (NYSE: EOG): Large independent E&P producing the Delaware, Woodford, Eagle Ford, and Rocky Mountains – Q1 Revenues of $3.7 Billion; production of 660 MBOEPD
• Lonestar Resources (NASDAQ: LONE): Eagle Ford E&P with acreage throughout the play.
• SilverBow Resources (NYSE: SBOW): Gas-focused producer targeting southern Eagle Ford.
• Sundance Energy Australia (NASDAQ: SNDE): Pure-play Eagle Ford producer.
• WildHorse Resource Development (NYSE: WRD): Northern Eagle Ford operator with basin's second-largest acreage holdings.

Permian Basin

• Centennial Resource Development (NASDAQ: CDEV): Pure play Delaware Basin E&P company.
• Encana (NYSE: ECA): Diversified E&P company with operations in the Permian, Montney, Eagle Ford, Duvernay and San Juan Basin.
• Earthstone Energy (NYSE: ESTE): E&P company with operations in the Midland and Eagle Ford.
• Jagged Peak (NYSE: JAG): Pure play Delaware Basin operator.
• Legacy Reserves (NASDAQ: LGCY): MLP with assets in the Permian, East Texas, Rocky Mountains and Mid-Continent.
• Lilis Energy (NYSE: LLEX): Pure play Delaware Basin operator.
• QEP Resources (NYSE: QEP): Midland Basin player with additional acreage in Williston, Uinta and Haynesville.
• Rosehill Resources (NASDAQ: ROSE): Pure play Delaware Basin operator.
• SM Energy (NYSE: SM): Midland Basin producer with additional Eagle Ford operations.
• WPX Energy (NYSE: WPX): Delaware basin E&P company with additional extensive production from Williston.

Woodford & Other Mid-Continent – SCOOP/STACK

• Alta Mesa Resources (NASDAQ: AMR): E&P with operations in STACK portion of Anadarko Basin.
• BNK Petroleum (TSE: BKX): E&P with operations in Tishomingo Field of SCOOP portion of Ardmore Basin.
• Chaparral Energy (OTCMKTS: CHPE): Pure play STACK E&P company.
• Midstates Petroleum (NYSE: MPO): E&P producing from Mississippi Lime in Oklahoma.
• Panhandle Oil & Gas (NYSE: PHX): Leaseholder with interests in SCOOP/STACK, Oklahoma Woodford, Fayetteville and Eagle Ford.
• Unit Corp (NYSE: UNT): Vertically integrated energy company with drilling, producing and midstream businesses. Production in Mid Continent and Upper Gulf Coast.

Marcellus/Utica

• Cabot Oil & Gas (NYSE: COG): Pure play Marcellus E&P company.
• Eclipse Resources (NYSE: ECR): Appalachia-focused E&P company with assets in eastern Ohio.
• Range Resources (NYSE: RRC): Pennsylvania Marcellus producer with additional North Louisiana acreage.

Niobrara

• Bonanza Creek Energy (NYSE: BCEI): Wattenberg field, Mid-Continent producer
• HighPoint Resources (NYSE: HPR): Rocky Mountains-focused E&P with operations in the Wattenberg and Hereford fields.
• PDC Energy (NASDAQ: PDCE): Liquids-focused E&P in the DJ/Niobrara and Delaware basins.
• PetroShare (OTCMKTS: PRHR): Wattenberg producer active in southern portion of field.

Gulf of Mexico/Offshore

• GulfSlope Energy (OTCMKTS: GSPE): Louisiana offshore Gulf company, partnered with Delek for drilling new wells.
• Talos Energy (NYSE: TALO): E&P operator with focus on Louisiana Gulf of Mexico, additional properties in U.S. and Mexican GOM.

Haynesville

• Goodrich Petroleum (NYSE: GDP): E&P company with operations in the Haynesville and Tuscaloosa Marine Shale.

Pinedale – Jonah Field – Uinta Basin

• Ultra Petroleum (NASDAQ: UPL): E&P focused on Pinedale and Jonah fields, also developing Uinta basin.

Enhanced Oil Recovery

• Denbury Resources (NYSE: DNR): CO2 EOR production with activity in the Gulf Coast and Rocky Mountains.
• Elk Petroleum (ASX: ELK): CO2 EOR company with operations in Wyoming and Utah.
• Evolution Petroleum (NYSE: EPM): CO2 EOR production company. Pays a dividend.
• Mid-Con Energy Partners (NASDAQ: MCEP): CO2 EOR company with production in the Permian and Mid-Continent.

Canadian E&Ps

• Advantage Oil & Gas (NYSE: AAV): E&P focused on Montney formation in Alberta.
• Blackbird Energy (CVE: BBI): E&P focused on Pipestone Corridor of Montney formation in Alberta.
• Bellatrix Exploration (NYSE: BXE): E&P focused on the Western Sedimentary Basin in Alberta, Canada.
• Gear Energy (TSE: GXE): E&P operating heavy oil projects in Saskatchewan and light oil in Alberta.
• International Frontier Resources (TSX-V: IFR): E&P focused on operations in the Tecolutla block, onshore Mexico.
• Iron Bridge Resources (TSE: IBR): Developing an oil and liquids rich Montney resource at Elmworth/Gold Creek.
• NuVista Energy (TSE: NVA): Alberta-based operator focused on Wapiti Montney play.
• Painted Pony Energy (TSE: PONY): E&P producing natural gas from British Columbia Montney.
• Razor Energy (CVE: RZE): Alberta oil producer targeting Swan Hills and Kaybob Montney.
• Strategic Oil & Gas (CVE: SOG): Light oil producer in Alberta and Northwest Territories.
• Tamarack Valley Energy (TSE: TVE): Light oil producing E&P developing Cardium, Viking and Penny Barons plays.
• Vermilion Energy (NYSE: VET): E&P with extensive international diversification. Operations in Mannville, Cardium, Powder River Basin, offshore Australia and throughout Europe.

International E&Ps

• Alvopetro Energy (CVE: ALV): Gas-weighted E&P with operations in Brazil.
• Canacol Energy (TSE: CNE):  Exploration portfolio encompassing 5 basins in Colombia and Ecuador.
• GeoPark Energy (NYSE: GPRK): International E&P with projects in Colombia, Argentina, Brazil, Chile and Peru.
• Gran Tierra Energy (NYSE: GTE): Oil-weighted E&P company with assets in Columbia.
• Jadestone Energy (CVE: JSE): E&P company with assets in Australia, Indonesia, Vietnam and Philippines.
• PetroTal (CVE: TAL): Canadian E&P company with assets in Peru.
• Valeura Energy (TSE: VLE): Canada-based company developing gas in Turkey.

Oilfield Service Companies

• CES Energy Solutions (TSE: CEU): Provider of chemical solutions in drilling, production and specialty applications.
• Core Laboratories (NYSE: CLB): Reservoir technology and optimization company.
• Flotek Industries (NYSE: FTK): Chemical solutions provider with additional reservoir characterization and engineering services.
• Independence Contract Drilling (NYSE: ICD): Drilling company focused on unconventional drilling.
• Key Energy Services (NYSE: KEG): Well service provider with rigs, coiled tubing, fishing and fluid management.
• Liberty Oilfield Services (NYSE: LBRT): Pressure pumping service provider.
• Nabors Industries (NYSE: NBR): Drilling company offering rigs, services, software and equipment.
• Superior Drilling Products (NYSE: SDPI): Drilling tool provider.

Midstream

• Plains All American Pipeline (NYSE: PAA): midstream energy infrastructure and logistics services for crude oil, natural gas liquids and natural gas.

Mineral, Royalty, Infrastructure Holders, Acquisition Companies

• Black Stone Minerals (NYSE: BSM): Holds 20 million gross acres throughout the U.S., with holdings in every major basin.
• CorEnergy Infrastructure Trust (NYSE: CORR): REIT owning energy infrastructure assets.
• Osprey Energy Acquisition Corp. (NASDAQ: OSPR) is an energy-focused special purpose acquisition corporation formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar combination with one or more energy businesses. OSPR completed its $275 Million Initial Public Offering in July 2017.

Private Companies – E&Ps, Midstream, Energy Data and Technology Providers, Energy Capital, Government Energy Agencies

• Ameredev II
• BetaZi
• Bison Oil & Gas
• Blue Racer Midstream
• BTU Analytics
• Caerus Oil and Gas
• Canyon Creek Energy
• CIBC
• Comisión Nacional de Hidrocarburos (CNH)
• Credit Agricole CIB
• U.S. Energy Information Administration
• Felix Energy
• Fleur de Lis Energy
• Goodnight Midstream
• Great Western Oil & Gas
• GuildOne
• RS Energy
• Samson Resources II
• Tailwater Capital

A work-in-progress schedule of the 2018 presenting companies is posted on the conference website and will be regularly updated.

Who Attends the Conference: More than 2,000 institutional, private equity and hedge fund investors, energy research analysts, retail brokers, trust officers, high net worth investors, investment bankers and energy industry professionals gather in Denver for the conference.

One-on-One Meetings:  EnerCom works in advance with presenting company management teams to arrange one-on-one meetings with the attending institutional investors and research analysts at the conference venue. In 2017, EnerCom managed more than 2,100 one-on-one meeting requests. Buyside investors may request meetings on the conference website or contact EnerCom for more information at 303-296-8834.

How to Register:  Investment professionals and oil and gas companies can register for the event through the conference website. 

EnerCom History and Sponsors: EnerCom, Inc. founded The Oil & Gas Conference® in 1996. It is the oldest and largest energy investment conference in Denver.

Global sponsors of EnerCom's conferences are Netherland, Sewell & Associates; RS Energy Group; Moss Adams; and Preng & Associates.  Sponsors of The Oil & Gas Conference® 23 are Bank of America Merrill Lynch; AssuredPartners; DNB Bank ASA; Fifth Third Bank; CIBC; Haynes and Boone; Credit Agricole CIB; Natixis; PJ SOLOMON; PNC Financial Services Group; Wells Fargo; MUFG; SMBC; Opportune LLP; Petrie Partners; and SunTrust Robinson Humphrey.

About EnerCom, Inc.

Since 1994 EnerCom, Inc. has developed into a nationally recognized oil and gas-focused investor relations consultancy advising oil and gas industry clients on corporate strategy, asset valuations, investor communications, media relations and providing visual communications design. 

EnerCom offers services and produces and publishes numerous data products and external communications tools for public and private energy companies including:

• peer group company valuations that are specific to the oil and gas industry;
• corporate annual reports, oil and gas company websites, custom stratigraphic and subsurface illustrations; company investor presentations; sustainability reports;
• complete digital marketing services and lead capture for oilfield services and technology companies;
• EnerCom's Monthly Oil & Gas Industry Data & Trends Report;
• Profile company listings and advertising opportunities in Oil & Gas 360® - one of the industry's most popular online daily news portals; and
• EnerCom 360 - the online magazine.

EnerCom's professionals have more than 170 years of industry and business experience and a proven track record of success.

Headquartered in Denver, with senior consultants in Dallas and Houston, EnerCom uses the team approach for delivering its wide range of services to public and private companies, large and small, operating in the global exploration and production, OilService, capital markets, and associated advanced-technology industries.

EnerCom's upcoming oil and gas investment conferences include:

EnerCom Denver (The Oil & Gas Conference®) – August 19-22, 2018

EnerCom Dallas – Feb. 27-28, 2019

For more information about EnerCom and its services, please visit http://www.enercominc.com/ or call +1 303-296-8834 to speak with the management team or one of our consultants.

About Netherland, Sewell & Associates, Inc.

Netherland, Sewell & Associates, Inc. (NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations and government agencies. With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. They provide reserves reports and audits, acquisition and divestiture evaluations, simulation studies, exploration resources assessments, equity determinations, and management and advisory services. For a complete list of services or to learn more about Netherland, Sewell & Associates, Inc. please visit www.netherlandsewell.com.

For more information about NSAI, call C.H. (Scott) Rees, Chief Executive Officer, at 214-969-5401 or send an email to info@nsai-petro.com.

About RS Energy Group

RS Energy Group (RSEG) provides data-driven intelligence: evaluate assets, weigh valuable M&A opportunities and benchmark your business for more precise decision-making.

RSEG officially released its data solution in April 2017. RS Data™ provides clients with corrected, multi-sourced permit, completion and production data of unparalleled completeness and quality.

Today, RSEG's intelligence covers more than 150 companies operating in every key North American and many international energy plays with a powerful combination of practical insights at the asset level and a long-standing participation in capital markets. RSEG's independent, unbiased and accurate analysis forms a foundation of trust with its clients. Its collaborative approach, both internally and as an extension of its clients' research efforts, promotes innovation and fosters intimate, long term partnerships.

RS Energy Group (RSEG) is headquartered in Calgary, Alberta, with strategic locations in Houston, New York City, Philadelphia, San Francisco and Los Angeles. Contact RS Energy Group by phone at (403) 294-9111, or email info@rseg.com.

About Moss Adams LLP

For more than 30 years, Hein & Associates has been recognized throughout the industry as a leading oil and gas accounting and advisory firm. In late 2017, Hein combined with Moss Adams LLP, one of the largest accounting, consulting and wealth management firms in the nation, creating a $600 million middle-market accounting/tax/audit leader in the western U.S. with a strong oil & gas practice group.

With more than 2,900 professionals and staff across more than 25 locations in the West and beyond, Moss Adams works with many of the world's most innovative companies and leaders. Our strength in the middle market enables us to advise clients at all intervals of development—from start-up, to rapid growth and expansion, to transition. Today, we help over 2,300 companies doing business in more than 100 countries and territories.

For more information, please contact Joe Blice, Partner, National Practice Leader, Oil & Gas, CPA joe.blice@mossadams.com, (972) 687-7818.

Moss Adams LLP provides details at https://www.mossadams.com/home .

About Preng & Associates

Preng & Associates, founded in 1980, is the only retainer-based, international executive search firm specializing solely in the energy industry. Its number one priority is to assist clients with their executive selection, organization development, and human resource needs by providing the highest quality service. Preng's record of accomplishment is directly attributable to their experienced staff, worldwide network of industry contacts, proven search methodology, and high standards of professionalism. Preng has conducted over 3000 searches for board, executive, management, and professional positions in its 35-year history and has the highest success and repeat client track record.

Preng's practice is based on the premise that the search process is most effective when conducted by professionals with significant search industry experience. The company has earned a reputation for combining professional search disciplines with an in-depth industry and market understanding and has succeeded in some of the industry's most challenging and high-profile searches. Preng's international reach allows it to effectively conduct global engagements; and as a member of the Association of Executive Search Consultants, Preng practices and promotes its high standards of conduct and professionalism.

For more information about Preng & Associates, contact Charles Carpenter, Partner at 713-243-2610 or ccarpenter@preng.com.

About Bank of America Merrill Lynch

Bank of America Merrill Lynch Oil and Gas Group

The Bank of America Merrill Lynch (BofAML) Oil and Gas practice is comprised of a global team of bankers dedicated to covering the energy industry, dating back to the 1920s when Texas predecessor banks pioneered reserve-based lending.  The practice includes an experienced in-house Petroleum Engineering team with over 150 years of combined experience. With one of the only full-service financial energy platforms in the industry, the BofAML oil and gas team manages significant capital commitments in the energy sector with dedicated bankers based in Calgary, Denver, Dallas, Houston, London and New York.

The BofA Merrill Lynch Global Research platform offers clients access to information and actionable ideas on stocks, bonds, economics and investment strategies. With approximately 700 analysts in more than 20 countries, we offer our clients knowledge about economic and business developments that are having an impact on the markets, so that they can work with their financial advisors to make the most of opportunities.  BofA Merrill Lynch Global Research was ranked No. 1 for the fourth consecutive year on the 2014 list of Top Global Research Firms, Institutional Investor. 

About AssuredPartners

AssuredPartners Colorado (AP CO) combines 30+ years of experience with leading-edge products to provide exceptional service and value to our customers. We provide a full range of brokerage services including employee benefits, property and casualty, and retirement. Headquartered in Colorado, we think globally but act locally, with personal services designed specifically for each individual client. AP CO utilizes resources with national networks of brokers to ensure we can meet your every need and find answers to your questions quickly and efficiently.

Our goal is to achieve a long-term relationship focused on bringing value to your employee benefits management and insurance programs. We are committed to utilizing our collective talent to support your insurance goals. We work to identify activities that drive claim frequency, and implement an action plan to control health care costs and promote a healthy work environment for your employees.

Securing the best insurance package for your business begins with planning. Analyzing all your risks is critical to successful implementation of your insurance plan. AP CO will partner with you by providing ongoing assistance, consultation and service that will help you control your insurance expenses, choose the best plan to fit your company's needs and promote health care consumerism.

For more information on Assured Partners, please visit the website, call (800) 322-9773 or email info@assuredptrco.com.

About DNB ASA

DNB is Norway's largest financial services provider, with total assets approaching $400 billion. The bank has for years been a major provider of capital to the oil & gas industry, growing up literally side by side with the highly prolific fields developed in the Norwegian Sector of the North Sea. The Oslo Energy Office maintains a global financing strategy, and serves this market through multiple offices around the world including Houston, London and Singapore.

Energy Americas, based in Houston, comprises approximately 20 seasoned energy finance professionals. Aside from facilitating the bank's global business strategies, the office concentrates primarily on serving middle market and larger customers in the four principal oil & gas sectors — upstream, midstream, downstream and service — as well as in Power and Renewables. The bank offers a variety of financial products, from traditional oil & gas reserve financing, to longer-term capital markets transactions and merger/acquisition advisory services through its broker-dealer arm, DNB Markets, Inc. Ancillary service capabilities include cash management/depository services, as well as commodity and interest rate hedging.

For information on DNB's energy services, please visit the DNB energy website.

About Fifth Third Bancorp

Fifth Third Bank is a diversified financial services company with over $120 billion in assets. The Bank's energy group is comprised of experienced and knowledgeable individuals that can assist in providing and structuring financial solutions to meet their clients' needs across the upstream, midstream, downstream and services sectors. Solutions and capabilities include commodity hedging, interest rate management, foreign exchange, debt capital markets, treasury management, and depository/investment products.

For more information, please contact Richard Butler at 713-401-6101 or richard.butler@53.com.

About CIBC

CIBC is a leading North American bank headquartered in Canada and with offices around the world. CIBC was originally founded nearly 150 years ago, and has supported and financed the energy industry for many decades. CIBC was recently ranked as the strongest publicly traded bank in North America by Bloomberg, and is rated A+/Aa3 by S&P and Moody's, respectively.

Our energy specialists draw on the breadth of CIBC's capabilities to provide market insights and creative solutions for our clients. Services include corporate banking, commodity and interest rate hedging and strategy, A&D advisory, and capital markets.

CIBC is publicly traded on the NYSE and Toronto Stock Exchange under the symbol "CM" and has a market cap of $36 billion and nearly $400 billion in total assets. For more information, please visit the CIBC energy website.

About Haynes and Boone

Haynes and Boone, LLP is an energy-focused corporate law firm, providing a full spectrum of legal services to our clients across the oil and gas industry, including the upstream, midstream, and downstream sectors. We serve energy clients from our offices in Texas, Colorado, New York, California, Washington, D.C., London, Mexico City and Shanghai. We work as a team representing U.S. and foreign public and private companies engaged in the dynamic day-to-day work of finding and extracting oil and gas, and the banks, investment funds and other investors that support them.

Our team of more than 100 energy lawyers and landmen understands the U.S. and international physical and financial energy markets, and the firm has been helping operators and lenders complete some of the largest financings and M&A transactions in recent years. With more than 600 attorneys, Haynes and Boone is ranked among the largest law firms in the nation by The National Law Journal, and our energy lawyers have been ranked by publications such as Best Lawyers in America, Chambers and Partners and Who's Who in Energy.

For more info, please visit www.haynesboone.com.

About Crédit Agricole Corporate and Investment Bank

Crédit Agricole Corporate and Investment Bank is the corporate and investment banking arm of the Crédit Agricole Group, the world's eighth largest bank by total assets (The Banker, July 2014). Crédit Agricole CIB offers its clients a comprehensive range of products and services in capital markets, brokerage, investment banking, structured finance, corporate banking, and international private banking.

The Bank provides support to clients in large international markets through its network, with a presence in major countries in Europe, the Americas, Asia and the Middle East.

With headquarters in New York City, and U.S. offices in Houston and Chicago, Credit Agricole CIB Americas offers its corporate and institutional clients financial products and services and made-to-order structuring, origination and distribution, through both its banking unit Credit Agricole CIB, and the full-service broker-dealer Credit Agricole Securities (USA) Inc., which is a member of the NYSE and NASD.  Credit Agricole CIB is also present in Montreal, Canada, and in Latin America with offices in Argentina, Brazil, and Mexico.

The Energy Industry represents the single largest concentration of industry exposure at Credit Agricole Corporate and Investment Bank, whose specialty focus dates back over 100 years. Our Energy practice for North America, located in Houston, focuses on all segments of the business and covers it on a truly global basis.

For more information, visit www.ca-cib.com.

About Natixis

Natixis is the international corporate and investment banking, asset management, insurance and financial services arm of Groupe BPCE, the second-largest banking group in France.

Natixis Corporate & Investment Banking advises and assists corporations, financial institutions, institutional investors, financial sponsors, public-sector organizations and the networks of Groupe BPCE.

We furnish a diversified array of financing solutions, provide access to capital markets and transaction banking services.

Areas of expertise include Advisory: M&A, primary equity, capital & rating advisory; Financing: vanilla and structured; Capital Markets: equities, fixed income, credit, forex and commodities; Global Transaction Banking: trade finance, cash management, liquidity management and correspondent banking; Research: economic, credit, equity and quantitative.

The Bank leverages the expertise and highly technical skills of its teams, and provides industry-recognized research to build innovative and mix-and-matchable solutions. Corporate and Investment Banking is present on the main financial markets via three international platforms: Americas, Asia-Pacific, and EMEA (Europe, Middle East, Africa).

About PJ SOLOMON

PJ SOLOMON is an investment banking advisory firm that provides strategic advisory services to chief executive officers and senior management, owners of public and private companies, boards of directors, and special committees.

Our full suite of advisory services includes Mergers and Acquisitions, Restructuring and Capital Markets across a range of industry verticals.

The PJ SOLOMON Energy Advisory Group provides strategic investment banking advisory services to public and private clients across the energy chain. Drawing upon our extensive sector relationships and deep strategic and operational expertise, we can offer a unique and valued advisory platform for the upstream, upstream A&D, midstream and the utility sectors.

Based in our Houston office, the PJ SOLOMON Energy team holds more than 100 years of experience on a broad range of domestic and cross-border transactions including mergers and acquisitions, A&D, restructurings, bankruptcies, and public and private capital raisings.

Industry sectors/sub-sectors include: Upstream, Upstream A&D, Midstream, Energy related and Utilities.

About PNC Financial Services Group

PNC is one of the largest, best-regarded and best-capitalized financial services companies in the country, with approximately $325 billion in assets and offices in 33 states, Canada and the United Kingdom.

PNC's Energy Group, headed by Tom Byargeon, is a significant capital and service provider to energy companies, with approximately $6.5 billion in commitments to the industry. The Energy office in Houston houses a team with extensive experience and deep relationships across the entire energy supply chain. This group also offers strategic corporate finance advice and delivers PNC's comprehensive set of solutions and capabilities, including commodity and interest rate hedging, debt capital markets, loan syndications, treasury management, asset securitization, equipment finance and institutional investments.

For more information, please contact Tom Byargeon at 713-353-8782 or tom.byargeon@pnc.com. You can also visit www.pnc.com.

About MUFG

Mitsubishi UFJ Financial Group (MUFG) has been a leading provider of banking services to the oil and gas industry in the Americas for more than 30 years, consistently ranking in the Top 10 Lead Arrangers and Top 10 Bond Arrangers in the Thomson Reuters Oil and Gas League Tables.

We support clients across the industry—from regional exploration and production to global diversified services companies—that benefit from our focused approach, strong execution, and customized services. Whether you are looking to expand existing reserves, make an acquisition, or streamline operations, we can support your growth with services, including: underwriting and syndications; U.S./Canadian cross-border funding; securities underwriting and placements; leasing and tax equity financing; and commodities, interest rate, and foreign exchange risk management. 

For more information, visit: www.mufgamericas.com/oil-gas.

About Wells Fargo & Company

Wells Fargo & Company is a nationwide, diversified, community-based financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy.

The Energy Banking Group, headed by Bart Schouest, provides corporate banking products and services to the energy sector, including upstream, midstream, oilfield services, and diversified industries. With offices in Houston, Dallas, Denver, Calgary, and Aberdeen the group's success is driven by in-depth industry expertise and longstanding relationships with key industry participants. The group has over $45 billion of credit commitments to public and private companies across the upstream, midstream, downstream, services, and power and utilities sectors.

The Energy & Power Investment Banking Group, headed by James Kipp, provides strategic advisory and corporate finance expertise to energy and power clients, including upstream, midstream, oilfield services, downstream, coal and the power & utilities sectors. Areas of focus include equity, equity-linked and debt underwritings, private placements, syndications, and mergers and acquisitions. The Energy & Power Investment Banking Group has offices in Houston and Charlotte.

These teams work together to offer clients industry and product expertise, in addition to sharing their understanding of internal and external forces that drive both industry trends and financial markets. For additional information, contact us at 713-319-1350 or Energy@wellsfargo.com.

To learn more about Wells Fargo & Company, please visit the company's web site at www.wellsfargo.com.

About SMBC

Sumitomo Mitsui Banking Corporation (SMBC) is a core member of Sumitomo Mitsui Financial Group (SMFG), a Tokyo-based bank holding company that is ranked among the largest 25 banks globally by assets under management.

SMBC Americas Division, with more than 2,500 employees, oversees operations in the U.S., Canada, Mexico, and South America. We work across SMFG to offer corporate and institutional clients sophisticated and comprehensive financial services around the globe.

SMBC's roots in Japan trace back more than 400 years to 1590. The Americas Division of SMBC has more than a century of experience in the United States, beginning when the San Francisco branch of Sumitomo Bank was established in 1919. Sumitomo Mitsui Financial Group (NYSE: SMFG) was listed on the New York Stock Exchange in 2010.

For more information please visit the corporate website: www.smbcgroup.com/americas/group-companies/

About Opportune LLP

Founded in 2005, Opportune is a leading global energy consulting firm specializing in adding value to clients across the energy industry, including upstream, midstream, downstream, power and gas, commodities trading and oilfield services.

Since we are not an audit firm, we are advocates of our clients and are not subject to the restrictions placed on other firms by regulatory bodies. Using our extensive knowledge of all sectors of the energy industry, we work with clients to provide comprehensive solutions to their operational and financial challenges. 

Our practice areas include complex financial reporting, dispute resolution, enterprise risk, outsourcing, process and technology, reserve engineering and geosciences, restructuring, strategy and organization, tax, transactional due diligence and valuation. Opportune LLP is not a CPA firm.

Opportune's corporate headquarters are in Houston, Texas. The firm also has offices in Dallas, Denver, New York City, Tulsa, and the UK. For more information please call Ashley Hunt, Marketing Coordinator,

713.490.5050 and visit the web site https://opportune.com/.

About Petrie Partners, LLC

Petrie Partners, LLC is a boutique investment banking firm offering financial advisory services to the oil and gas industry. We provide specialized advice on mergers, divestitures and acquisitions and private placements.

The firm was formed in 2011 (as Strategic Energy Advisors) by senior bankers formerly with Bank of America Merrill Lynch and Petrie Parkman & Co., an investment bank that built a reputation as a most trusted advisor to energy clients during the nearly two decades leading up to its merger into Merrill Lynch in 2006.

Through tenure with Petrie Parkman, Merrill Lynch and Bank of America Merrill Lynch, the senior members of the Petrie team bring to bear an average of more than 25 years of energy investment banking experience, including over 300 energy M&A and capital raising transactions representing over $350 billion of aggregate consideration.

For information about the firm, please visit www.petrie.com or call the firm's Denver office (303.953.6768) or the Houston office (713.659.0760).

About SunTrust Robinson Humphrey

SunTrust Robinson Humphrey (STRH) is a leading, full-service corporate and investment bank dedicated to helping you successfully manage and grow your company through a comprehensive range of strategic advisory, capital raising, risk management, financing and investment solutions. We also offer a complete array of sales, trading and research services in both fixed income and equity. 

Our firm's history dates back to 1894, and through the years we have built a reputation for delivering superior client service and in-depth market and industry expertise. At STRH, we are committed to your success. Our team of experienced professionals works closely with you to understand your unique needs and goals to provide sound, unbiased guidance that draws from the significant resources from across our entire universal banking platform. This collaborative One Team approach is focused solely on partnering with you to secure meaningful value throughout the life cycle of your company.

Our Energy & Power Investment Banking Group provides corporate and investment banking services to domestically headquartered companies in the energy and power sectors. We partner with our clients across the energy value chain to deliver full-service strategic advisory and financing solutions.

For more information please visit https://www.suntrustrh.com/industry-coverage/energy-power .

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SOURCE EnerCom, Inc.

DENVER, June 20, 2018 /PRNewswire/ -- EnerCom, Inc. is pleased to update the list of oil and gas companies and energy sector experts who will be presenters at the 23^rd annual edition of The Oil & Gas Conference®, coming August 19-22, 2018, to the Westin Denver Downtown. 

Public and Private Company Presenters: The 2018 edition of EnerCom's The Oil & Gas Conference® will feature public and private oil and gas companies with operations spanning 40 countries and six continents, including all U.S. shale basins, the Gulf of Mexico, Canada, Latin America and Africa.  A work-in-progress list of the 2018 presenting companies will be posted and updated on the conference website.

The EnerCom Denver 2018 presenting companies include but are not limited to:

• Advantage Oil & Gas (NYSE: AAV)
• Alta Mesa Resources (NASDAQ: AMR)
• Amerdev II LLC (Private)
• Anschutz Exploration (Private)
• Baytex Energy Corp. (NYSE: BTE)
• Bellatrix Exploration (NYSE: BXE)
• BetaZi LLC (private)
• Black Stone Minerals, L.P. (NYSE: BSM)
• Blackbird Energy (TSX-V: BBI)
• BNK Petroleum, Inc. (TSE: BKX)
• BTU Analytics (Private)
• Cabot Oil & Gas (NYSE: COG)
• Canacol Energy Ltd. (TSE: CNE)
• Canyon Creek Energy (Private)
• Centennial Resource Development (NASDAQ: CDEV)
• CES Energy Solutions Corp. (TSX: CEU)
• Chaparral Energy (OTCQB: CHPE)
• Core Laboratories (NYSE: CLB)
• CorEnergy Infrastructure Trust (NYSE: CORR)
• Denbury Resources (NYSE: DNR)
• Earthstone Energy (NYSE: ESTE)
• Eclipse Resources (NYSE: ECR)
• Elk Petroleum (ASX: ELK)
• Enerplus Corp. (NYSE: ERF)
• EOG Resources (NYSE: EOG)
• Evolution Petroleum (NYSE: EPM)
• Gear Energy Ltd. (TXE: GXE)
• GeoPark Ltd. (NYSE: GPRK)
• Goodrich Petroleum (NYSE: GDP)
• Gran Tierra Energy (NYSE: GTE)
• Great Western Oil & Gas LLC (Private)
• GuildOne Inc. (Private)
• HighPoint Resources (NYSE: HPR)
• Independence Contract Drilling (NYSE: ICD)
• International Frontier Resources (TSX-V: IFR)
• Jadestone Energy (TSX-V: JSE)
• Jagged Peak Energy (NYSE: JAG)
• Key Energy Services (NYSE: KEG)
• Legacy Reserves, LP (NASDAQ: LGCY)
• Liberty Oilfield Services (NYSE: LBRT)
• Lilis Energy (NYSE: LLEX)
• Lonestar Resources (NASDAQ: LONE)
• Mid-Con Energy Partners, LP (NASDAQ: MCEP)
• Midstates Petroleum (NYSE: MPO)
• Northern Oil & Gas (NYSE: NOG)
• NuVista Energy Ltd. (TSE: NVA)
• Painted Pony Energy (TSE: PONY)
• Panhandle Oil & Gas (NYSE: PHX)
• PDC Energy (NASDAQ: PDCE)
• Penn Virginia Corp. (NASDAQ: PVAC)
• PetroTal Corp. (TSX-V: TAL)
• Petroteq Energy (TSX-V: PQE)
• QEP Resources (NYSE: QEP)
• Range Resources Corp. (NYSE: RRC)
• Razor Energy Corp. (TSX-V: RZE)
• Rosehill Resources (NASDAQ: ROSE)
• RS Energy Group (Private)
• Samson Resources II, LLC (Private)
• SilverBow Resources (NYSE: SBOW)
• SM Energy (NYSE: SM)
• STEP Energy Services (TSE: STEP)
• Strategic Oil & Gas (TSX-V: SOG)
• Sundance Energy Australia Ltd. (NASDAQ: SNDE)
• Superior Drilling Products (NYSE: SDPI)
• Talos Energy (NYSE: TALO)
• Tamarack Valley Energy (TSE: TVE)
• TGS-NOPEC Geophysical Company ASA (TGS.OL)
• Ultra Petroleum Corporation (NASDAQ: UPL)
• Unit Corporation (NYSE: UNT)
• Vermilion Energy (NYSE: VET)
• Whiting Petroleum Corporation (NYSE: WLL)
• WildHorse Resource Development (NYSE: WRD)
• WPX Energy (NYSE: WPX)

Who Attends the Conference: More than 2,000 institutional, private equity and hedge fund investors, energy research analysts, retail brokers, trust officers, high net worth investors, investment bankers and energy industry professionals gather in Denver for the conference.

One-on-One Meetings:  EnerCom works in advance with presenting company management teams to arrange one-on-one meetings with the attending institutional investors and research analysts at the conference venue. In 2017, EnerCom managed more than 2,100 one-on-one meeting requests.

How to Register:  Investment professionals and oil and gas companies can register for the event through the conference website. 

EnerCom History and Sponsors: EnerCom, Inc. founded The Oil & Gas Conference® in 1996. It is the oldest and largest energy investment conference in Denver.

Global sponsors of EnerCom's conferences are Netherland, Sewell & Associates; RS Energy Group; Moss Adams; and Preng & Associates.  Sponsors of The Oil & Gas Conference® 23 are Bank of America Merrill Lynch; AssuredPartners; DNB Bank ASA; Fifth Third Bank; CIBC; Haynes and Boone; Credit Agricole CIB; Natixis; PJ SOLOMON; PNC Financial Services Group; Wells Fargo; MUFG; and SMBC.

About EnerCom, Inc.

Since 1994 EnerCom, Inc. has developed into a nationally recognized oil and gas-focused investor relations consultancy advising oil and gas industry clients on corporate strategy, asset valuations, investor communications, media relations and providing visual communications design. 

EnerCom offers services and produces and publishes numerous data products and external communications tools for public and private energy companies including:

• peer group company valuations that are specific to the oil and gas industry;
• corporate annual reports, oil and gas company websites, custom stratigraphic and subsurface illustrations; company investor presentations; sustainability reports;
• complete digital marketing services and lead capture for oilfield services and technology companies;
• EnerCom's Monthly Oil & Gas Industry Data & Trends Report;
• Profile company listings and advertising opportunities in Oil & Gas 360® - one of the industry's most popular online daily news portals; and
• EnerCom 360 - the online magazine.

EnerCom's professionals have more than 170 years of industry and business experience and a proven track record of success.

Headquartered in Denver, with senior consultants in Dallas and Houston, EnerCom uses the team approach for delivering its wide range of services to public and private companies, large and small, operating in the global exploration and production, OilService, capital markets, and associated advanced-technology industries.

EnerCom's upcoming oil and gas investment conferences include:

EnerCom Denver (The Oil & Gas Conference®) – August 19-22, 2018

EnerCom Dallas – Feb. 27-28, 2019

For more information about EnerCom and its services, please visit http://www.enercominc.com/ or call +1 303-296-8834 to speak with the management team or one of our consultants.

About Netherland, Sewell & Associates, Inc.

Netherland, Sewell & Associates, Inc. (NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations and government agencies. With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. They provide reserves reports and audits, acquisition and divestiture evaluations, simulation studies, exploration resources assessments, equity determinations, and management and advisory services. For a complete list of services or to learn more about Netherland, Sewell & Associates, Inc. please visit www.netherlandsewell.com.

For more information about NSAI, call C.H. (Scott) Rees, Chief Executive Officer, at 214-969-5401 or send an email to info@nsai-petro.com.

About RS Energy Group

RS Energy Group (RSEG) provides data-driven intelligence: evaluate assets, weigh valuable M&A opportunities and benchmark your business for more precise decision-making.

RSEG officially released its data solution in April 2017. RS Data™ provides clients with corrected, multi-sourced permit, completion and production data of unparalleled completeness and quality.

Today, RSEG's intelligence covers more than 150 companies operating in every key North American and many international energy plays with a powerful combination of practical insights at the asset level and a long-standing participation in capital markets. RSEG's independent, unbiased and accurate analysis forms a foundation of trust with its clients. Its collaborative approach, both internally and as an extension of its clients' research efforts, promotes innovation and fosters intimate, long term partnerships.

RS Energy Group (RSEG) is headquartered in Calgary, Alberta, with strategic locations in Houston, New York City, Philadelphia, San Francisco and Los Angeles. Contact RS Energy Group by phone at (403) 294-9111, or email info@rseg.com.

About Moss Adams LLP

For more than 30 years, Hein & Associates has been recognized throughout the industry as a leading oil and gas accounting and advisory firm. In late 2017, Hein combined with Moss Adams LLP, one of the largest accounting, consulting and wealth management firms in the nation, creating a $600 million middle-market accounting/tax/audit leader in the western U.S. with a strong oil & gas practice group.

With more than 2,900 professionals and staff across more than 25 locations in the West and beyond, Moss Adams works with many of the world's most innovative companies and leaders. Our strength in the middle market enables us to advise clients at all intervals of development—from start-up, to rapid growth and expansion, to transition. Today, we help over 2,300 companies doing business in more than 100 countries and territories.

For more information, please contact Joe Blice, Partner, National Practice Leader, Oil & Gas, CPA joe.blice@mossadams.com, (972) 687-7818.

Moss Adams LLP provides details at https://www.mossadams.com/home .

About Preng & Associates

Preng & Associates, founded in 1980, is the only retainer-based, international executive search firm specializing solely in the energy industry. Its number one priority is to assist clients with their executive selection, organization development, and human resource needs by providing the highest quality service. Preng's record of accomplishment is directly attributable to their experienced staff, worldwide network of industry contacts, proven search methodology, and high standards of professionalism. Preng has conducted over 3000 searches for board, executive, management, and professional positions in its 35-year history and has the highest success and repeat client track record.

Preng's practice is based on the premise that the search process is most effective when conducted by professionals with significant search industry experience. The company has earned a reputation for combining professional search disciplines with an in-depth industry and market understanding and has succeeded in some of the industry's most challenging and high-profile searches. Preng's international reach allows it to effectively conduct global engagements; and as a member of the Association of Executive Search Consultants, Preng practices and promotes its high standards of conduct and professionalism.

For more information about Preng & Associates, contact Charles Carpenter, Partner at 713-243-2610 or ccarpenter@preng.com.

About Bank of America Merrill Lynch

Bank of America Merrill Lynch Oil and Gas Group

The Bank of America Merrill Lynch (BofAML) Oil and Gas practice is comprised of a global team of bankers dedicated to covering the energy industry, dating back to the 1920s when Texas predecessor banks pioneered reserve-based lending.  The practice includes an experienced in-house Petroleum Engineering team with over 150 years of combined experience. With one of the only full-service financial energy platforms in the industry, the BofAML oil and gas team manages significant capital commitments in the energy sector with dedicated bankers based in Calgary, Denver, Dallas, Houston, London and New York.

The BofA Merrill Lynch Global Research platform offers clients access to information and actionable ideas on stocks, bonds, economics and investment strategies. With approximately 700 analysts in more than 20 countries, we offer our clients knowledge about economic and business developments that are having an impact on the markets, so that they can work with their financial advisors to make the most of opportunities.  BofA Merrill Lynch Global Research was ranked No. 1 for the fourth consecutive year on the 2014 list of Top Global Research Firms, Institutional Investor. 

About AssuredPartners

AssuredPartners Colorado (AP CO) combines 30+ years of experience with leading-edge products to provide exceptional service and value to our customers. We provide a full range of brokerage services including employee benefits, property and casualty, and retirement. Headquartered in Colorado, we think globally but act locally, with personal services designed specifically for each individual client. AP CO utilizes resources with national networks of brokers to ensure we can meet your every need and find answers to your questions quickly and efficiently.

Our goal is to achieve a long-term relationship focused on bringing value to your employee benefits management and insurance programs. We are committed to utilizing our collective talent to support your insurance goals. We work to identify activities that drive claim frequency, and implement an action plan to control health care costs and promote a healthy work environment for your employees.

Securing the best insurance package for your business begins with planning. Analyzing all your risks is critical to successful implementation of your insurance plan. AP CO will partner with you by providing ongoing assistance, consultation and service that will help you control your insurance expenses, choose the best plan to fit your company's needs and promote health care consumerism.

For more information on Assured Partners, please visit the website, call (800) 322-9773 or email info@assuredptrco.com.

About DNB ASA

DNB is Norway's largest financial services provider, with total assets approaching $400 billion. The bank has for years been a major provider of capital to the oil & gas industry, growing up literally side by side with the highly prolific fields developed in the Norwegian Sector of the North Sea. The Oslo Energy Office maintains a global financing strategy, and serves this market through multiple offices around the world including Houston, London and Singapore.

Energy Americas, based in Houston, comprises approximately 20 seasoned energy finance professionals. Aside from facilitating the bank's global business strategies, the office concentrates primarily on serving middle market and larger customers in the four principal oil & gas sectors — upstream, midstream, downstream and service — as well as in Power and Renewables. The bank offers a variety of financial products, from traditional oil & gas reserve financing, to longer-term capital markets transactions and merger/acquisition advisory services through its broker-dealer arm, DNB Markets, Inc. Ancillary service capabilities include cash management/depository services, as well as commodity and interest rate hedging.

For information on DNB's energy services, please visit the DNB energy website.

About Fifth Third Bancorp

Fifth Third Bank is a diversified financial services company with over $120 billion in assets. The Bank's energy group is comprised of experienced and knowledgeable individuals that can assist in providing and structuring financial solutions to meet their clients' needs across the upstream, midstream, downstream and services sectors. Solutions and capabilities include commodity hedging, interest rate management, foreign exchange, debt capital markets, treasury management, and depository/investment products.

For more information, please contact Richard Butler at 713-401-6101 or richard.butler@53.com.

About CIBC

CIBC is a leading North American bank headquartered in Canada and with offices around the world. CIBC was originally founded nearly 150 years ago, and has supported and financed the energy industry for many decades. CIBC was recently ranked as the strongest publicly traded bank in North America by Bloomberg, and is rated A+/Aa3 by S&P and Moody's, respectively.

Our energy specialists draw on the breadth of CIBC's capabilities to provide market insights and creative solutions for our clients. Services include corporate banking, commodity and interest rate hedging and strategy, A&D advisory, and capital markets.

CIBC is publicly traded on the NYSE and Toronto Stock Exchange under the symbol "CM" and has a market cap of $36 billion and nearly $400 billion in total assets. For more information, please visit the CIBC energy website.

About Haynes and Boone

Haynes and Boone, LLP is an energy-focused corporate law firm, providing a full spectrum of legal services to our clients across the oil and gas industry, including the upstream, midstream, and downstream sectors. We serve energy clients from our offices in Texas, Colorado, New York, California, Washington, D.C., London, Mexico City and Shanghai. We work as a team representing U.S. and foreign public and private companies engaged in the dynamic day-to-day work of finding and extracting oil and gas, and the banks, investment funds and other investors that support them.

Our team of more than 100 energy lawyers and landmen understands the U.S. and international physical and financial energy markets, and the firm has been helping operators and lenders complete some of the largest financings and M&A transactions in recent years. With more than 600 attorneys, Haynes and Boone is ranked among the largest law firms in the nation by The National Law Journal, and our energy lawyers have been ranked by publications such as Best Lawyers in America, Chambers and Partners and Who's Who in Energy.

For more info, please visit www.haynesboone.com.

About Crédit Agricole Corporate and Investment Bank

Crédit Agricole Corporate and Investment Bank is the corporate and investment banking arm of the Crédit Agricole Group, the world's eighth largest bank by total assets (The Banker, July 2014). Crédit Agricole CIB offers its clients a comprehensive range of products and services in capital markets, brokerage, investment banking, structured finance, corporate banking, and international private banking.

The Bank provides support to clients in large international markets through its network, with a presence in major countries in Europe, the Americas, Asia and the Middle East.

With headquarters in New York City, and U.S. offices in Houston and Chicago, Credit Agricole CIB Americas offers its corporate and institutional clients financial products and services and made-to-order structuring, origination and distribution, through both its banking unit Credit Agricole CIB, and the full-service broker-dealer Credit Agricole Securities (USA) Inc., which is a member of the NYSE and NASD.  Credit Agricole CIB is also present in Montreal, Canada, and in Latin America with offices in Argentina, Brazil, and Mexico.

The Energy Industry represents the single largest concentration of industry exposure at Credit Agricole Corporate and Investment Bank, whose specialty focus dates back over 100 years. Our Energy practice for North America, located in Houston, focuses on all segments of the business and covers it on a truly global basis.

For more information, visit www.ca-cib.com.

About Natixis

Natixis is the international corporate and investment banking, asset management, insurance and financial services arm of Groupe BPCE, the second-largest banking group in France.

Natixis Corporate & Investment Banking advises and assists corporations, financial institutions, institutional investors, financial sponsors, public-sector organizations and the networks of Groupe BPCE. We furnish a diversified array of financing solutions, provide access to capital markets and transaction banking services. 

Areas of expertise include Advisory: M&A, primary equity, capital & rating advisory; Financing: vanilla and structured; Capital Markets: equities, fixed income, credit, forex and commodities; Global Transaction Banking: trade finance, cash management, liquidity management and correspondent banking; Research: economic, credit, equity and quantitative.

The Bank leverages the expertise and highly technical skills of its teams, and provides industry-recognized research to build innovative and mix-and-matchable solutions. Corporate and Investment Banking is present on the main financial markets via three international platforms: Americas, Asia-Pacific, and EMEA (Europe, Middle East, Africa).

About PJ SOLOMON

PJ SOLOMON is an investment banking advisory firm that provides strategic advisory services to chief executive officers and senior management, owners of public and private companies, boards of directors, and special committees.

Our full suite of advisory services includes Mergers and Acquisitions, Restructuring and Capital Markets across a range of industry verticals.

The PJ SOLOMON Energy Advisory Group provides strategic investment banking advisory services to public and private clients across the energy chain. Drawing upon our extensive sector relationships and deep strategic and operational expertise, we can offer a unique and valued advisory platform for the upstream, upstream A&D, midstream and the utility sectors.

Based in our Houston office, the PJ SOLOMON Energy team holds more than 100 years of experience on a broad range of domestic and cross-border transactions including mergers and acquisitions, A&D, restructurings, bankruptcies, and public and private capital raisings.

Industry sectors/sub-sectors include: Upstream, Upstream A&D, Midstream, Energy related and Utilities.

About PNC Financial Services Group

PNC is one of the largest, best-regarded and best-capitalized financial services companies in the country, with approximately $325 billion in assets and offices in 33 states, Canada and the United Kingdom.

PNC's Energy Group, headed by Tom Byargeon, is a significant capital and service provider to energy companies, with approximately $6.5 billion in commitments to the industry. The Energy office in Houston houses a team with extensive experience and deep relationships across the entire energy supply chain. This group also offers strategic corporate finance advice and delivers PNC's comprehensive set of solutions and capabilities, including commodity and interest rate hedging, debt capital markets, loan syndications, treasury management, asset securitization, equipment finance and institutional investments.

For more information, please contact Tom Byargeon at 713-353-8782 or tom.byargeon@pnc.com. You can also visit www.pnc.com.

About MUFG

Mitsubishi UFJ Financial Group (MUFG) has been a leading provider of banking services to the oil and gas industry in the Americas for more than 30 years, consistently ranking in the Top 10 Lead Arrangers and Top 10 Bond Arrangers in the Thomson Reuters Oil and Gas League Tables.

We support clients across the industry—from regional exploration and production to global diversified services companies—that benefit from our focused approach, strong execution, and customized services. Whether you are looking to expand existing reserves, make an acquisition, or streamline operations, we can support your growth with services, including: underwriting and syndications; U.S./Canadian cross-border funding; securities underwriting and placements; leasing and tax equity financing; and commodities, interest rate, and foreign exchange risk management. 

For more information, visit: www.mufgamericas.com/oil-gas.

About Wells Fargo & Company

Wells Fargo & Company is a nationwide, diversified, community-based financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy.

The Energy Banking Group, headed by Bart Schouest, provides corporate banking products and services to the energy sector, including upstream, midstream, oilfield services, and diversified industries. With offices in Houston, Dallas, Denver, Calgary, and Aberdeen the group's success is driven by in-depth industry expertise and longstanding relationships with key industry participants. The group has over $45 billion of credit commitments to public and private companies across the upstream, midstream, downstream, services, and power and utilities sectors.

The Energy & Power Investment Banking Group, headed by James Kipp, provides strategic advisory and corporate finance expertise to energy and power clients, including upstream, midstream, oilfield services, downstream, coal and the power & utilities sectors. Areas of focus include equity, equity-linked and debt underwritings, private placements, syndications, and mergers and acquisitions. The Energy & Power Investment Banking Group has offices in Houston and Charlotte.

These teams work together to offer clients industry and product expertise, in addition to sharing their understanding of internal and external forces that drive both industry trends and financial markets. For additional information, contact us at 713-319-1350 or Energy@wellsfargo.com.

To learn more about Wells Fargo & Company, please visit the company's web site at www.wellsfargo.com.

About SMBC

Sumitomo Mitsui Banking Corporation (SMBC) is a core member of Sumitomo Mitsui Financial Group (SMFG), a Tokyo-based bank holding company that is ranked among the largest 25 banks globally by assets under management.

SMBC Americas Division, with more than 2,500 employees, oversees operations in the U.S., Canada, Mexico, and South America. We work across SMFG to offer corporate and institutional clients sophisticated and comprehensive financial services around the globe.

SMBC's roots in Japan trace back more than 400 years to 1590. The Americas Division of SMBC has more than a century of experience in the United States, beginning when the San Francisco branch of Sumitomo Bank was established in 1919. Sumitomo Mitsui Financial Group (NYSE: SMFG) was listed on the New York Stock Exchange in 2010.

For more information please visit the corporate website: www.smbcgroup.com/americas/group-companies/

 

CONTACT: 303-296-8834

 

View original content:http://www.prnewswire.com/news-releases/enercom-announces-presenting-companies-for-the-oil--gas-conference-23-300669633.html

SOURCE EnerCom, Inc.

DENVER, June 13, 2018 /PRNewswire/ -- EnerCom, Inc. is pleased to update the list of oil and gas companies and energy sector experts who will be presenters at the 23^rd annual edition of The Oil & Gas Conference®, coming August 19-22, 2018, to the Westin Denver Downtown. 

Public and Private Company Presenters: The 2018 edition of EnerCom's The Oil & Gas Conference® will feature public and private oil and gas companies with operations spanning 40 countries and six continents, including all U.S. shale basins, the Gulf of Mexico, Canada, Latin America and Africa.  A work-in-progress list of the 2018 presenting companies will be posted and updated on the conference website.

The EnerCom Denver 2018 presenting companies include but are not limited to:

• Advantage Oil & Gas (NYSE: AAV)
• Alta Mesa Resources (NASDAQ: AMR)
• Baytex Energy Corp. (NYSE: BTE)
• Blackbird Energy (TSX-V: BBI)
• Cabot Oil & Gas (NYSE: COG)
• Centennial Resource Development (NASDAQ: CDEV)
• CES Energy Solutions Corp. (TSX: CEU)
• Core Laboratories (NYSE: CLB)
• Denbury Resources (NYSE: DNR)
• Earthstone Energy (NYSE: ESTE)
• Elk Petroleum (ASX: ELK)
• Energy XXI Gulf Coast (NASDAQ: EGC)
• EOG Resources (NYSE: EOG)
• Evolution Petroleum (NYSE: EPM)
• Gear Energy Ltd. (TXE: GXE)
• GeoPark Ltd. (NYSE: GPRK)
• Goodrich Petroleum (NYSE: GDP)
• HighPoint Resources (NYSE: HPR)
• Independence Contract Drilling (NYSE: ICD)
• Jagged Peak Energy (NYSE: JAG)
• Liberty Oilfield Services (NYSE: LBRT)
• Lilis Energy (NYSE: LLEX)
• Lonestar Resources (NASDAQ: LONE)
• Northern Oil & Gas (NYSE: NOG)
• PDC Energy (NASDAQ: PDCE)
• QEP Resources (NYSE: QEP)
• Range Resources Corp. (NYSE: RRC)
• Razor Energy Corp. (TSX-V: RZE)
• Rosehill Resources (NASDAQ: ROSE)
• Samson Resources II, LLC (Private)
• SilverBow Resources (NYSE: SBOW)
• SM Energy (NYSE: SM)
• Strategic Oil & Gas (TSX-V: SOG)
• Talos Energy (NYSE: TALO)
• Tamarack Valley Energy (TSE: TVE)
• Ultra Petroleum Corporation (NASDAQ: UPL)
• Unit Corporation (NYSE: UNT)
• Whiting Petroleum Corporation (NYSE: WLL)
• WildHorse Resource Development (NYSE: WRD)
• WPX Energy (NYSE: WPX)

Who Attends the Conference: More than 2,000 institutional, private equity and hedge fund investors, energy research analysts, retail brokers, trust officers, high net worth investors, investment bankers and energy industry professionals gather in Denver for the conference.

One-on-One Meetings:  EnerCom works in advance with presenting company management teams to arrange one-on-one meetings with the attending institutional investors and research analysts at the conference venue. In 2017, EnerCom managed more than 2,100 one-on-one meeting requests.

How to Register:  Investment professionals and oil and gas companies can register for the event through the conference website. 

EnerCom History and Sponsors: EnerCom, Inc. founded The Oil & Gas Conference® in 1996. It is the oldest and largest energy investment conference in Denver.

Global sponsors of EnerCom's conferences are Netherland, Sewell & Associates; RS Energy Group; Moss Adams; and Preng & Associates.  Sponsors of The Oil & Gas Conference® 23 are Bank of America Merrill Lynch; AssuredPartners; DNB Bank ASA; Fifth Third Bank; CIBC; Haynes and Boone; Credit Agricole CIB; Natixis; PJ SOLOMON; PNC Financial Services Group; Wells Fargo; MUFG; and SMBC.

About EnerCom, Inc.

Since 1994 EnerCom, Inc. has developed into a nationally recognized oil and gas-focused investor relations consultancy advising oil and gas industry clients on corporate strategy, asset valuations, investor communications, media relations and providing visual communications design. 

EnerCom offers services and produces and publishes numerous data products and external communications tools for public and private energy companies including:

• peer group company valuations that are specific to the oil and gas industry;
• corporate annual reports, oil and gas company websites, custom stratigraphic and subsurface illustrations; company investor presentations; sustainability reports;
• complete digital marketing services and lead capture for oilfield services and technology companies;
• EnerCom's Monthly Oil & Gas Industry Data & Trends Report;
• Profile company listings and advertising opportunities in Oil & Gas 360® - one of the industry's most popular online daily news portals; and
• EnerCom 360 - the online magazine.

EnerCom's professionals have more than 170 years of industry and business experience and a proven track record of success.

Headquartered in Denver, with senior consultants in Dallas and Houston, EnerCom uses the team approach for delivering its wide range of services to public and private companies, large and small, operating in the global exploration and production, OilService, capital markets, and associated advanced-technology industries.

EnerCom's upcoming oil and gas investment conferences include:

EnerCom Denver (The Oil & Gas Conference®) – August 19-22, 2018
EnerCom Dallas – Feb. 27-28, 2019

For more information about EnerCom and its services, please visit http://www.enercominc.com/ or call +1 303-296-8834 to speak with the management team or one of our consultants.

About Netherland, Sewell & Associates, Inc.

Netherland, Sewell & Associates, Inc. (NSAI) was founded in 1961 to provide the highest quality engineering and geological consulting to the petroleum industry. Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations and government agencies. With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. They provide reserves reports and audits, acquisition and divestiture evaluations, simulation studies, exploration resources assessments, equity determinations, and management and advisory services. For a complete list of services or to learn more about Netherland, Sewell & Associates, Inc. please visit www.netherlandsewell.com.

For more information about NSAI, call C.H. (Scott) Rees, Chief Executive Officer, at 214-969-5401 or send an email to info@nsai-petro.com.

About RS Energy Group

RS Energy Group (RSEG) provides data-driven intelligence: evaluate assets, weigh valuable M&A opportunities and benchmark your business for more precise decision-making.

RSEG officially released its data solution in April 2017. RS Data™ provides clients with corrected, multi-sourced permit, completion and production data of unparalleled completeness and quality.

Today, RSEG's intelligence covers more than 150 companies operating in every key North American and many international energy plays with a powerful combination of practical insights at the asset level and a long-standing participation in capital markets. RSEG's independent, unbiased and accurate analysis forms a foundation of trust with its clients. Its collaborative approach, both internally and as an extension of its clients' research efforts, promotes innovation and fosters intimate, long term partnerships.

RS Energy Group (RSEG) is headquartered in Calgary, Alberta, with strategic locations in Houston, New York City, Philadelphia, San Francisco and Los Angeles. Contact RS Energy Group by phone at (403) 294-9111, or email info@rseg.com.

About Moss Adams LLP

For more than 30 years, Hein & Associates has been recognized throughout the industry as a leading oil and gas accounting and advisory firm. In late 2017, Hein combined with Moss Adams LLP, one of the largest accounting, consulting and wealth management firms in the nation, creating a $600 million middle-market accounting/tax/audit leader in the western U.S. with a strong oil & gas practice group.

With more than 2,900 professionals and staff across more than 25 locations in the West and beyond, Moss Adams works with many of the world's most innovative companies and leaders. Our strength in the middle market enables us to advise clients at all intervals of development—from start-up, to rapid growth and expansion, to transition. Today, we help over 2,300 companies doing business in more than 100 countries and territories.

For more information, please contact Joe Blice, Partner, National Practice Leader, Oil & Gas, CPA joe.blice@mossadams.com, (972) 687-7818.

Moss Adams LLP provides details at https://www.mossadams.com/home.

About Preng & Associates

Preng & Associates, founded in 1980, is the only retainer-based, international executive search firm specializing solely in the energy industry. Its number one priority is to assist clients with their executive selection, organization development, and human resource needs by providing the highest quality service. Preng's record of accomplishment is directly attributable to their experienced staff, worldwide network of industry contacts, proven search methodology, and high standards of professionalism. Preng has conducted over 3000 searches for board, executive, management, and professional positions in its 35-year history and has the highest success and repeat client track record.

Preng's practice is based on the premise that the search process is most effective when conducted by professionals with significant search industry experience. The company has earned a reputation for combining professional search disciplines with an in-depth industry and market understanding and has succeeded in some of the industry's most challenging and high-profile searches. Preng's international reach allows it to effectively conduct global engagements; and as a member of the Association of Executive Search Consultants, Preng practices and promotes its high standards of conduct and professionalism.

For more information about Preng & Associates, contact Charles Carpenter, Partner at 713-243-2610 or ccarpenter@preng.com.

About Bank of America Merrill Lynch

Bank of America Merrill Lynch Oil and Gas Group

The Bank of America Merrill Lynch (BofAML) Oil and Gas practice is comprised of a global team of bankers dedicated to covering the energy industry, dating back to the 1920s when Texas predecessor banks pioneered reserve-based lending.  The practice includes an experienced in-house Petroleum Engineering team with over 150 years of combined experience. With one of the only full-service financial energy platforms in the industry, the BofAML oil and gas team manages significant capital commitments in the energy sector with dedicated bankers based in Calgary, Denver, Dallas, Houston, London and New York.

The BofA Merrill Lynch Global Research platform offers clients access to information and actionable ideas on stocks, bonds, economics and investment strategies. With approximately 700 analysts in more than 20 countries, we offer our clients knowledge about economic and business developments that are having an impact on the markets, so that they can work with their financial advisors to make the most of opportunities.  BofA Merrill Lynch Global Research was ranked No. 1 for the fourth consecutive year on the 2014 list of Top Global Research Firms, Institutional Investor. 

About AssuredPartners

AssuredPartners Colorado (AP CO) combines 30+ years of experience with leading-edge products to provide exceptional service and value to our customers. We provide a full range of brokerage services including employee benefits, property and casualty, and retirement. Headquartered in Colorado, we think globally but act locally, with personal services designed specifically for each individual client. AP CO utilizes resources with national networks of brokers to ensure we can meet your every need and find answers to your questions quickly and efficiently.

Our goal is to achieve a long-term relationship focused on bringing value to your employee benefits management and insurance programs. We are committed to utilizing our collective talent to support your insurance goals. We work to identify activities that drive claim frequency, and implement an action plan to control health care costs and promote a healthy work environment for your employees.

Securing the best insurance package for your business begins with planning. Analyzing all your risks is critical to successful implementation of your insurance plan. AP CO will partner with you by providing ongoing assistance, consultation and service that will help you control your insurance expenses, choose the best plan to fit your company's needs and promote health care consumerism.

For more information on Assured Partners, please visit the website, call (800) 322-9773 or email info@assuredptrco.com.

About DNB ASA

DNB is Norway's largest financial services provider, with total assets approaching $400 billion. The bank has for years been a major provider of capital to the oil & gas industry, growing up literally side by side with the highly prolific fields developed in the Norwegian Sector of the North Sea. The Oslo Energy Office maintains a global financing strategy, and serves this market through multiple offices around the world including Houston, London and Singapore.

Energy Americas, based in Houston, comprises approximately 20 seasoned energy finance professionals. Aside from facilitating the bank's global business strategies, the office concentrates primarily on serving middle market and larger customers in the four principal oil & gas sectors — upstream, midstream, downstream and service — as well as in Power and Renewables. The bank offers a variety of financial products, from traditional oil & gas reserve financing, to longer-term capital markets transactions and merger/acquisition advisory services through its broker-dealer arm, DNB Markets, Inc. Ancillary service capabilities include cash management/depository services, as well as commodity and interest rate hedging.

For information on DNB's energy services, please visit the DNB energy website.

About Fifth Third Bancorp

Fifth Third Bank is a diversified financial services company with over $120 billion in assets. The Bank's energy group is comprised of experienced and knowledgeable individuals that can assist in providing and structuring financial solutions to meet their clients' needs across the upstream, midstream, downstream and services sectors. Solutions and capabilities include commodity hedging, interest rate management, foreign exchange, debt capital markets, treasury management, and depository/investment products.

For more information, please contact Richard Butler at 713-401-6101 or richard.butler@53.com.

About CIBC

CIBC is a leading North American bank headquartered in Canada and with offices around the world. CIBC was originally founded nearly 150 years ago, and has supported and financed the energy industry for many decades. CIBC was recently ranked as the strongest publicly traded bank in North America by Bloomberg, and is rated A+/Aa3 by S&P and Moody's, respectively.

Our energy specialists draw on the breadth of CIBC's capabilities to provide market insights and creative solutions for our clients. Services include corporate banking, commodity and interest rate hedging and strategy, A&D advisory, and capital markets.

CIBC is publicly traded on the NYSE and Toronto Stock Exchange under the symbol "CM" and has a market cap of $36 billion and nearly $400 billion in total assets. For more information, please visit the CIBC energy website.

About Haynes and Boone

Haynes and Boone, LLP is an energy-focused corporate law firm, providing a full spectrum of legal services to our clients across the oil and gas industry, including the upstream, midstream, and downstream sectors. We serve energy clients from our offices in Texas, Colorado, New York, California, Washington, D.C., London, Mexico City and Shanghai. We work as a team representing U.S. and foreign public and private companies engaged in the dynamic day-to-day work of finding and extracting oil and gas, and the banks, investment funds and other investors that support them.

Our team of more than 100 energy lawyers and landmen understands the U.S. and international physical and financial energy markets, and the firm has been helping operators and lenders complete some of the largest financings and M&A transactions in recent years. With more than 600 attorneys, Haynes and Boone is ranked among the largest law firms in the nation by The National Law Journal, and our energy lawyers have been ranked by publications such as Best Lawyers in America, Chambers and Partners and Who's Who in Energy.

For more info, please visit www.haynesboone.com.

About Crédit Agricole Corporate and Investment Bank

Crédit Agricole Corporate and Investment Bank is the corporate and investment banking arm of the Crédit Agricole Group, the world's eighth largest bank by total assets (The Banker, July 2014). Crédit Agricole CIB offers its clients a comprehensive range of products and services in capital markets, brokerage, investment banking, structured finance, corporate banking, and international private banking.

The Bank provides support to clients in large international markets through its network, with a presence in major countries in Europe, the Americas, Asia and the Middle East.

With headquarters in New York City, and U.S. offices in Houston and Chicago, Credit Agricole CIB Americas offers its corporate and institutional clients financial products and services and made-to-order structuring, origination and distribution, through both its banking unit Credit Agricole CIB, and the full-service broker-dealer Credit Agricole Securities (USA) Inc., which is a member of the NYSE and NASD.  Credit Agricole CIB is also present in Montreal, Canada, and in Latin America with offices in Argentina, Brazil, and Mexico.

The Energy Industry represents the single largest concentration of industry exposure at Credit Agricole Corporate and Investment Bank, whose specialty focus dates back over 100 years. Our Energy practice for North America, located in Houston, focuses on all segments of the business and covers it on a truly global basis.

For more information, visit www.ca-cib.com.

About Natixis

Natixis is the international corporate and investment banking, asset management, insurance and financial services arm of Groupe BPCE, the second-largest banking group in France.

Natixis Corporate & Investment Banking advises and assists corporations, financial institutions, institutional investors, financial sponsors, public-sector organizations and the networks of Groupe BPCE.

We furnish a diversified array of financing solutions, provide access to capital markets and transaction banking services.

Areas of expertise include Advisory: M&A, primary equity, capital & rating advisory; Financing: vanilla and structured; Capital Markets: equities, fixed income, credit, forex and commodities; Global Transaction Banking: trade finance, cash management, liquidity management and correspondent banking; Research: economic, credit, equity and quantitative.

The Bank leverages the expertise and highly technical skills of its teams, and provides industry-recognized research to build innovative and mix-and-matchable solutions. Corporate and Investment Banking is present on the main financial markets via three international platforms: Americas, Asia-Pacific, and EMEA (Europe, Middle East, Africa).

About PJ SOLOMON

PJ SOLOMON is an investment banking advisory firm that provides strategic advisory services to chief executive officers and senior management, owners of public and private companies, boards of directors, and special committees.

Our full suite of advisory services includes Mergers and Acquisitions, Restructuring and Capital Markets across a range of industry verticals.

The PJ SOLOMON Energy Advisory Group provides strategic investment banking advisory services to public and private clients across the energy chain. Drawing upon our extensive sector relationships and deep strategic and operational expertise, we can offer a unique and valued advisory platform for the upstream, upstream A&D, midstream and the utility sectors.

Based in our Houston office, the PJ SOLOMON Energy team holds more than 100 years of experience on a broad range of domestic and cross-border transactions including mergers and acquisitions, A&D, restructurings, bankruptcies, and public and private capital raisings.

Industry sectors/sub-sectors include: Upstream, Upstream A&D, Midstream, Energy related and Utilities.

About PNC Financial Services Group

PNC is one of the largest, best-regarded and best-capitalized financial services companies in the country, with approximately $325 billion in assets and offices in 33 states, Canada and the United Kingdom.

PNC's Energy Group, headed by Tom Byargeon, is a significant capital and service provider to energy companies, with approximately $6.5 billion in commitments to the industry. The Energy office in Houston houses a team with extensive experience and deep relationships across the entire energy supply chain. This group also offers strategic corporate finance advice and delivers PNC's comprehensive set of solutions and capabilities, including commodity and interest rate hedging, debt capital markets, loan syndications, treasury management, asset securitization, equipment finance and institutional investments.

For more information, please contact Tom Byargeon at 713-353-8782 or tom.byargeon@pnc.com. You can also visit www.pnc.com.

About MUFG

Mitsubishi UFJ Financial Group (MUFG) has been a leading provider of banking services to the oil and gas industry in the Americas for more than 30 years, consistently ranking in the Top 10 Lead Arrangers and Top 10 Bond Arrangers in the Thomson Reuters Oil and Gas League Tables.

We support clients across the industry—from regional exploration and production to global diversified services companies—that benefit from our focused approach, strong execution, and customized services. Whether you are looking to expand existing reserves, make an acquisition, or streamline operations, we can support your growth with services, including: underwriting and syndications; U.S./Canadian cross-border funding; securities underwriting and placements; leasing and tax equity financing; and commodities, interest rate, and foreign exchange risk management. 

For more information, visit: www.mufgamericas.com/oil-gas.

About Wells Fargo & Company

Wells Fargo & Company is a nationwide, diversified, community-based financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, 12,500 ATMs, and the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy.

The Energy Banking Group, headed by Bart Schouest, provides corporate banking products and services to the energy sector, including upstream, midstream, oilfield services, and diversified industries. With offices in Houston, Dallas, Denver, Calgary, and Aberdeen the group's success is driven by in-depth industry expertise and longstanding relationships with key industry participants. The group has over $45 billion of credit commitments to public and private companies across the upstream, midstream, downstream, services, and power and utilities sectors.

The Energy & Power Investment Banking Group, headed by James Kipp, provides strategic advisory and corporate finance expertise to energy and power clients, including upstream, midstream, oilfield services, downstream, coal and the power & utilities sectors. Areas of focus include equity, equity-linked and debt underwritings, private placements, syndications, and mergers and acquisitions. The Energy & Power Investment Banking Group has offices in Houston and Charlotte.

These teams work together to offer clients industry and product expertise, in addition to sharing their understanding of internal and external forces that drive both industry trends and financial markets. For additional information, contact us at 713-319-1350 or Energy@wellsfargo.com.

To learn more about Wells Fargo & Company, please visit the company's web site at www.wellsfargo.com.

About SMBC

Sumitomo Mitsui Banking Corporation (SMBC) is a core member of Sumitomo Mitsui Financial Group (SMFG), a Tokyo-based bank holding company that is ranked among the largest 25 banks globally by assets under management.

SMBC Americas Division, with more than 2,500 employees, oversees operations in the U.S., Canada, Mexico, and South America. We work across SMFG to offer corporate and institutional clients sophisticated and comprehensive financial services around the globe.

SMBC's roots in Japan trace back more than 400 years to 1590. The Americas Division of SMBC has more than a century of experience in the United States, beginning when the San Francisco branch of Sumitomo Bank was established in 1919. Sumitomo Mitsui Financial Group (NYSE: SMFG) was listed on the New York Stock Exchange in 2010.

For more information please visit the corporate website: www.smbcgroup.com/americas/group-companies/

 

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SOURCE EnerCom, Inc.

(TSX: AAV, NYSE: AAV)

CALGARY, May 29, 2018 /PRNewswire/ - Advantage Oil & Gas Ltd. ("Advantage") is pleased to announce that on May 29, 2018 it held its annual general and special meeting of shareholders (the "Meeting").  A total of 161,059,835 common shares (approximately 86.50% of the outstanding common shares) were represented at the Meeting in person or by proxy.

At the Meeting, shareholders approved the election of six nominees as directors of Advantage to serve until the next annual meeting of shareholders or until their successors are elected or appointed, with the number and percentage of common shares represented at the Meeting voting by way of ballot in favour or withheld from voting for the individual nominees as follows:

 

For complete voting results, please see our Report of Voting Results available on SEDAR at www.sedar.com.

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SOURCE Advantage Oil & Gas Ltd.

(TSX: AAV, NYSE: AAV)

CALGARY, May 8, 2018 /PRNewswire/ - Advantage Oil & Gas Ltd. ("Advantage") is pleased to announce that it has extended the expiry of its previously disclosed odd-lot share repurchase program (the "Odd Lot Program") by six weeks to June 19, 2018. Pursuant to the Odd Lot Program, Advantage has offered to buy back common shares from registered and beneficial shareholders of Advantage who own 99 or fewer common shares ("Odd Lot Holders"). The Odd Lot Program affords Odd Lot Holders the opportunity to sell all, but not less than all, of their common shares or to continue to maintain their current holdings. Advantage will purchase up to a maximum of Cdn. $4 million of its common shares under the Odd Lot Program (the "Maximum"). The Odd Lot Program is open to Odd Lot Holders of record as of March 20, 2018 and began on March 27, 2018. The Odd Lot Program will now expire once the Maximum is met or at the close of business on June 19, 2018, whichever comes earlier.

Odd Lot Holders may participate in the Odd Lot Program using the participation documents that were previously mailed to them. Questions regarding the Odd Lot Program should be directed to Computershare Investor Services Inc. toll free at 1-800-564-6253.

Advisory

The information in this press release contains certain forward-looking statements, including within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future intentions or performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "guidance", "demonstrate", "expect", "may", "can", "will", "project", "predict", "potential", "target", "intend", "could", "might", "should", "believe", "would" and similar expressions and include statements relating to, among other things, Advantage's conduct of the Odd Lot Program and the details of the Odd Lot Program. Advantage's actual decisions, activities, results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that Advantage will derive from them.

These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Advantage's control, including, but not limited to: changes in general economic, market and business conditions; industry conditions; actions by governmental or regulatory authorities including increasing taxes and changes in investment or other regulations; risk that a significant number of Odd Lot Holders do not tender to the Odd Lot Program; failure of Advantage to achieve the perceived benefits of the Odd Lot Program;  and changes in tax laws. Many of these risks and uncertainties and additional risk factors are described in the Corporation's Annual Information Form which is available at www.Sedar.com and www.advantageog.com. Readers are cautioned that the foregoing lists of factors is not exhaustive.

With respect to forward-looking statements contained in this press release, Advantage has made assumptions regarding, but not limited to: conditions in general economic and financial markets; effects of regulation by governmental agencies; current and future commodity prices and royalty regimes; future exchange rates; timing and amount of capital expenditures; the price of crude oil and natural gas; that the Corporation will have sufficient cash flow, debt or equity sources or other financial resources required to fund its capital and operating expenditures and requirements as needed; that the Corporation's conduct and results of operations will be consistent with its expectations; and current or, where applicable, proposed assumed industry conditions, laws and regulations will continue in effect or as anticipated.

These forward-looking statements are made as of the date of this press release and Advantage disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

 

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SOURCE Advantage Oil & Gas Ltd.

Solid Cash Flow, Strong Well Results and Glacier Gas Plant Expansion Advances Liquids Development Strategy

(TSX: AAV, NYSE: AAV)

CALGARY, May 3, 2018 /PRNewswire/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to report strong cash flow of $48.9 million ($0.26/share) and net income of $10.1 million ($0.05/share) during the first quarter of 2018. Cash flow was supported by the Corporation's proactive marketing strategy which included $18.1 million from hedging gains and enhanced netbacks from natural gas sales at Dawn, Ontario.  In addition, liquids revenue increased 18% to $6.6 million and the Corporation achieved low total corporate cash costs of $1.13/mcfe ($6.78/boe) contributing to solid cash flow results. On April 30, 2018, the Corporation renewed its annual credit facility of $400 million with improved borrowing terms and maintained a strong balance sheet with a total debt to trailing 12 month cash flow ratio of 1.4.  

First quarter results also included completion of six liquids rich wells on a new west Glacier well pad which demonstrated an 86% improvement in productivity over all previous Middle Montney Glacier wells.  These six wells had a combined initial production flowrate of 64 mmcf/d and 1,914 bbls/d of C3+ liquids at the end of the first 48 hours.  Two additional Lower Montney wells, located on the same well pad, had a combined production rate of 25.8 mmcf/d at the end of 37 hours of flow, which ranks in the top quartile of all Glacier wells.  The Middle Montney wells will be brought on-production during the second half of 2018 after the Glacier plant expansion project is completed.  In addition, liquids production from a four well pad at Valhalla, will be increased after completion of the Glacier plant expansion and flow unrestricted once the new Valhalla compressor and liquids handling facility is completed in the fourth quarter of 2018. This four well pad was completed prior to year-end 2017 and demonstrated an initial combined liquids productivity of 1,075 bbls/d.

Construction activity associated with the expansion of our 100% owned Glacier gas plant neared completion during the end of the first quarter when planned shut-downs commenced to tie-in new equipment.  Average production during the quarter was 239 mmcfe/d (39,848 boe/d) and included two days of outage during the last week of March.  As previously noted in Advantage's press release of April 19, 2018, this planned outage extended longer than scheduled in April due to a process upset which has been fully resolved.  The Glacier plant expansion increases gas processing capacity from 250 to 400 mmcf/d and increases shallow cut propane plus ("C3+") liquids extraction capacity to 6,800 bbls/d providing room to accommodate future liquids production growth from east Glacier, Valhalla and Wembley.  The Corporation's first quarter capital expenditures were $77.6 million, including $42 million invested in facilities infrastructure to support longer term liquids and natural gas development.

As previously announced, Advantage will lower natural gas production in 2018 in response to low price periods and to preserve dry gas productivity for higher price periods.  Dry gas well completions in the second half of 2018 will be deferred to increase liquids rich drilling at east Glacier and Valhalla.  The Corporation's first quarter liquids production of 1,105 bbls/d represents 3% of total production and generated 11% of total revenues.  In 2019, Advantage targets to increase liquids production to 8% or more of total production and 13% or more of total production in 2020 which is anticipated to significantly enhance our netbacks and cash flows.  Liquids production growth in 2018 and 2019 will primarily come from east Glacier and Valhalla, with significant growth from Wembley expected by mid-2020 when additional processing and pipeline capacity is expected to be completed.

As a result of increased liquids production, an active hedging program and secured egress to downstream markets in eastern Canada and the U.S. Midwest, Advantage has diversified its revenue portfolio reducing AECO gas exposure to approximately 27% of total revenues through 2019.  Furthermore, Advantage continues to evaluate new commercial opportunities capable of providing incremental sources of long term natural gas demand and continued revenue diversification.

Operations Update

Glacier

Advantage completed an eight well pad located in the western portion of Glacier during the quarter.  These wells were drilled in the second half of 2017 and consist of six wells in the Middle Montney and two wells in the Lower Montney.

The six Middle Montney wells further delineated all three layers within the Middle Montney and demonstrated a total combined production rate of 64 mmcf/d with an average rate of 10.6 mmcf/d per well at an average flowing pressure of 15,444 kPa at the end of 48 hours of flow. This represents an increase in the average per well test rate and average flowing pressure of 86% and 126%, respectively, compared to all of our previously drilled Glacier Middle Montney wells.  Based on measured gas compositions from the six wells with a combined gas rate of 64 mmcf/d, the recoverable C3+ liquid rates is estimated to be 1,914 bbls/d at an average liquids yield of 30 bbls/mmcf, consistent with the previous results in this area of Glacier. Average frac count was increased to 34 stages per well which represents a 76% increase over our previous Middle Montney wells.

The two Lower Montney wells were flowed at an average rate of 12.9 mmcf/d per well at an average flowing pressure of 11,678 kPa at the end of 37 hours of flow. These results are consistent with the exceptional Lower Montney results that have been achieved in the western portion of Glacier over the past number of drilling programs.

During the first quarter of 2018, Advantage drilled a horizontal acid gas disposal well at Glacier to provide back-up and incremental disposal capacity to our two existing vertical disposal wells. This well was successfully drilled through our targeted interval with a lateral length of 1,585 meters and will be completed during the summer of 2018.  Advantage's two existing vertical acid gas disposal wells are capable of handling the total acid gas stream based on current H₂S compositions at Glacier and the expanded gas plant capacity of 400 mmcf/d.  The new horizontal acid gas disposal well will provide additional acid gas disposal capacity to accommodate higher H₂S gas levels as liquids development continues at Valhalla, Wembley and Progress.

Valhalla

Installation of Advantage's first compressor and liquids handling facility at Valhalla is continuing on track. This facility is designed to handle 40 mmcf/d of raw gas and 2,000 bbls/d of liquids and is expandable to accommodate future liquids rich production growth at Valhalla. Current Valhalla production has been limited due to the size of the existing Advantage pipeline connected to the Glacier gas plant.  The Valhalla facility will help alleviate the current capacity limitation and is designed to separate wellhead liquids and transport liquids rich gas to Glacier for further processing and liquids extraction.  Engineering design has been completed with the majority of major equipment items to be sourced from surplus equipment resulting from the Glacier gas plant expansion project. Construction is planned during the second half of 2018 with the facility scheduled to be brought-on stream in the fourth quarter of 2018.

Wembley

Engineering evaluations are underway to assess facility designs and pipeline options for transporting and processing liquids rich natural gas production from our Wembley land block.  Prolific development of this liquids rich area has resulted in limited processing capacity. Options currently under consideration include transporting production back to our Glacier gas plant for processing and collaborating with third party processors and area producers to maximize efficiencies. Advantage is in the process of working through stakeholder consultations in anticipation of securing regulatory approvals targeted for 2019.  Facility and pipeline construction is expected to occur during the first half of 2020; although, Advantage will be prepared to commence this work earlier if the timeline can be shortened.

Looking Forward

Our 2018 production guidance was updated recently to incorporate our strategy to lower natural gas production in response to low AECO price periods and the extended Glacier plant outage which occurred in the second quarter (refer to Advantage's press release dated April 19, 2018).  Production for the second quarter of 2018 is expected to be 205 to 215 mmcfe/d, including liquids production between 950 and 1,150 bbls/d with higher per unit total corporate cash costs of $1.35/mcfe to $1.45/mcfe due to lower production.  Annual 2018 production is estimated to average between 240 and 255 mcfe/d with average liquids production of approximately 1,800 bbls/d and a year-end exit rate of 2,400 bbls/d.  Annual total corporate cash costs are estimated to be $1.10/mcfe to $1.30/mcfe.  Advantage's 2018 capital program of $175 million is expected to be approximately 60% invested during the first half of the year.

Advantage has successfully executed on its Montney development at Glacier since 2008, achieving an industry leading low-cost structure, preserving a strong balance sheet and maintaining operational and financial flexibility. This solid foundation which includes a significant liquids resource on our 200 net sections of Montney lands provides flexibility to create long term value through multiple investment options as we respond promptly and responsibly to market conditions.  We look forward to reporting on our progress through the remainder of 2018.

First Quarter 2018 Operating and Financial Summary

 

The Corporation's unaudited interim condensed consolidated financial statements for the three months ended March 31, 2018 together with the notes thereto, and Management's Discussion and Analysis for the three months ended March 31, 2018 have been filed on SEDAR and with the SEC and are available on the Corporation's website at http://www.advantageog.com/investors/financial-reports/financial-reports-2018.

Advisory
The information in this press release contains certain forward-looking statements, including within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future intentions or performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "guidance", "demonstrate", "expect", "may", "can", "will", "project", "predict", "potential", "target", "intend", "could", "might", "should", "believe", "would" and similar expressions and include statements relating to, among other things, completion of expansion of the Corporation's Glacier gas plant, including the anticipated raw processing capacity and shallow cut propane plus liquids extraction capacity following such expansion; Advantage's expectation that the expansion of the Corporation's Glacier gas plant will support anticipated production growth; the Corporation's plans to lower natural gas production and defer dry gas well completions; Advantage's targeted increase in liquids production for 2019 and 2020 and the expected effect of such production on netbacks and cash flows;  the anticipated source of liquids production growth in 2018, 2019 and 2020 and the effect of such increased liquids production on the Corporation's revenue portfolio and AECO exposure; estimated recoverable C3+ liquid rates, combined gas rates and average C3+ liquids yields from certain wells at Glacier; anticipated timing of completion of a horizontal acid gas disposal well at Glacier, and the effect of such well on additional acid gas disposal capacity; the status of Advantage's first compressor and liquids handling facility at Valhalla, including expected gas and liquids handling capacity, the effect of such facility on current capacity limitations, and the targeted timing of construction and completion of such facility; options under consideration for transporting and processing production at Wembley, including the anticipated timing of securing regulatory approvals and commencing facilities and pipeline construction; Advantage's anticipated annual 2018 production guidance range, including expected total production and liquids production for the second quarter of 2018, expected amount of total production and liquids production for 2018 and expected exit liquids production; Advantage's capital program for 2018, including the expected timing of incurring capital expenditures; the factors that Advantage believes will provide Advantage with the ability to respond promptly and responsibly to market conditions; and other matters. Advantage's actual decisions, activities, results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that Advantage will derive from them.

These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Advantage's control, including, but not limited to: changes in general economic, market and business conditions; industry conditions; impact of significant declines in market prices for oil and natural gas; actions by governmental or regulatory authorities including increasing taxes and changes in investment or other regulations; changes in tax laws, royalty regimes and incentive programs relating to the oil and gas industry; the effect of acquisitions; Advantage's success at acquisition, exploitation and development of reserves; failure to achieve production targets on timelines anticipated or at all; unexpected drilling results; changes in commodity prices, currency exchange rates, capital expenditures, reserves or reserves estimates and debt service requirements; the occurrence of unexpected events involved in the exploration for, and the operation and development of, oil and gas properties, including hazards such as fire, explosion, blowouts, cratering, and spills, each of which could result in substantial damage to wells, production facilities, other property and the environment or in personal injury; changes or fluctuations in production levels; individual well productivity; lack of available capacity on pipelines; delays in anticipated timing of drilling and completion of wells; delays in completion of the expansion of the Glacier gas plant; delays in completion of the facility at Valhalla; delays in construction and completion of other infrastructure projects; that test results are not indicative of future production rates; lack of available capacity on pipelines; competition from other producers; the lack of availability of qualified personnel or management; credit risk; changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; our ability to comply with current and future environmental or other laws; stock market volatility and market valuations; liabilities inherent in oil and natural gas operations; uncertainties associated with estimating oil and natural gas reserves; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; geological, technical, drilling and processing problems and other difficulties in producing petroleum reserves; ability to obtain required approvals of regulatory authorities; and ability to access sufficient capital from internal and external sources. Many of these risks and uncertainties and additional risk factors are described in the Corporation's Annual Information Form dated March 5, 2018, which is available at www.Sedar.com and www.advantageog.com. Readers are also referred to risk factors described in other documents Advantage files with Canadian securities authorities.

With respect to forward-looking statements contained in this press release, Advantage has made assumptions regarding, but not limited to: timing of regulatory approvals; conditions in general economic and financial markets; effects of regulation by governmental agencies; current and future commodity prices and royalty regimes; future exchange rates; royalty rates; future operating costs, cash costs and liquids transportation costs; frac stages per well; lateral lengths per well; well costs; expected annual production growth rates; availability of skilled labor; availability of drilling and related equipment; timing and amount of capital expenditures; the impact of increasing competition; the price of crude oil and natural gas; that the Corporation will have sufficient cash flow, debt or equity sources or other financial resources required to fund its capital and operating expenditures and requirements as needed; that the Corporation's conduct and results of operations will be consistent with its expectations; that the Corporation will have the ability to develop the Corporation's properties in the manner currently contemplated; available pipeline capacity; that the Corporation will be able to complete the expansion and increase capacity at the Glacier gas plant; that Advantage's production will increase; current or, where applicable, proposed assumed industry conditions, laws and regulations will continue in effect or as anticipated; and that the estimates of the Corporation's production and reserves volumes and the assumptions related thereto (including commodity prices and development costs) are accurate in all material respects. Production estimates contained herein are expressed as anticipated average production over the calendar year. In determining anticipated production for the year ended December 31, 2018 Advantage considered historical drilling, completion and production results for prior years and took into account the estimated impact on production of the Corporation's 2018 expected drilling and completion activities.

Management has included the above summary of assumptions and risks related to forward-looking information in order to provide shareholders with a more complete perspective on Advantage's future operations and such information may not be appropriate for other purposes. Advantage's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Advantage will derive there from. Readers are cautioned that the foregoing lists of factors are not exhaustive. These forward-looking statements are made as of the date of this press release and Advantage disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

This press release contains a number of oil and gas metrics, including operating netbacks, which do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies and should not be used to make comparisons. Such metrics have been included herein to provide readers with additional measures to evaluate the Corporation's performance; however, such measures are not reliable indicators of the future performance of the Corporation and future performance may not compare to the performance in previous periods and therefore such metrics should not be unduly relied upon. Management uses these oil and gas metrics for its own performance measurements and to provide securityholders with measures to compare Advantage's operations over time. Readers are cautioned that the information provided by these metrics, or that can be derived from the metrics presented in this news release, should not be relied upon for investment or other purposes.

References in this press release to flow rates and other short-term production rates are useful in confirming the presence of hydrocarbons, however such rates are not determinative of the rates at which such wells will commence production and decline thereafter and are not indicative of long term performance or of ultimate recovery. Additionally, such rates may also include recovered "load oil" fluids used in well completion stimulation. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production of Advantage.

Barrels of oil equivalent (boe) and thousand cubic feet of natural gas equivalent (mcfe) may be misleading, particularly if used in isolation. Boe and mcfe conversion ratios have been calculated using a conversion rate of six thousand cubic feet of natural gas equivalent to one barrel of oil. A boe and mcfe conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

The Corporation discloses several financial measures that do not have any standardized meaning prescribed under International Financial Reporting Standards ("IFRS"). These financial measures include operating netbacks, cash netbacks, cash costs and total debt to annualized cash flow ratio. Cash netbacks are dependent on the determination of funds from operations and include the primary cash sales and expenses on a per mcfe basis that comprise funds from operations. Total debt to cash flow ratio is calculated as indebtedness under the Corporation's credit facilities plus working capital deficit divided by funds from operations for the prior twelve month period. Management believes that these financial measures are useful supplemental information to analyze operating performance and provide an indication of the results generated by the Corporation's principal business activities. Investors should be cautioned that these measures should not be construed as an alternative to net income or other measures of financial performance as determined in accordance with IFRS. Advantage's method of calculating these measures may differ from other companies, and accordingly, they may not be comparable to similar measures used by other companies. Please see the Corporation's most recent Management's Discussion and Analysis, which is available at www.sedar.com and www.advantageog.com for additional information about these financial measures, including a reconciliation of funds from operations to cash provided by operating activities.

 

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SOURCE Advantage Oil & Gas Ltd.

(TSX: AAV, NYSE: AAV)

CALGARY, April 19, 2018 /PRNewswire/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") advises that as previously disclosed in our press release dated March 5, 2018, a production outage was scheduled at our 100% owned Glacier gas plant in April 2018 associated with expanding our plant capacity to 400 mmcf/d and 6,800 bbls/d of liquids. This outage was scheduled to coincide with planned third party pipeline maintenance when AECO natural gas prices were anticipated to be negatively impacted.  During plant start-up operations, Advantage experienced an upset in our gas dehydration process that has been fully resolved but required a longer outage than originally scheduled. Additional work is still required to complete the Glacier gas plant expansion project and we expect to have the expanded plant fully commissioned during the second quarter as originally planned.

With our increased focus on liquids rich development and in response to periods of low natural gas prices and netbacks in 2018, Advantage prudently decided to moderate the ramp up of gas production subsequent to the outage and may restrict natural gas production levels from time to time. Advantage will also defer dry gas well completions and re-allocate budgeted capital in support of drilling additional liquids rich wells at Valhalla and in the liquids rich Middle Montney formation at east Glacier during the second half of 2018. This will help preserve gas well productivity for the latter part of 2018 and beyond as lower storage levels and western Canadian basin supply declines could result in strengthening gas prices at which time, Advantage retains significant operational flexibility to immediately increase gas production.

This investment and production strategy is supported by our recent liquids rich drilling successes at Glacier and at our nearby land blocks at Valhalla and Wembley which extended and increased our significant inventory of liquids rich and dry gas drilling locations. Annual average liquids production is expected to grow by approximately 50% year on year to 1,800 bbls/d with a 2018 exit rate of approximately 2,400 bbls/d. Increased drilling on our liquids rich lands will support doubling Advantage's liquids production to 8% or more of total production during the latter part of 2019 and could potentially reach 13% or more in 2020. This program will significantly enhance our cash flow and netbacks.

Guidance Updated

Advantage's second quarter 2018 production is estimated to be within the range of 205 to 215 mmcfe/d, lower than earlier estimates. Total per unit corporate cash costs will be higher during the second quarter at $1.35/mcfe to $1.45/mcfe due to lower production and are expected to decrease to approximately $1.15/mcfe as production is increased during the second half of 2018.

The Corporation's 2018 annual guidance is updated as follows:

 

Advisory

The information in this press release contains certain forward-looking statements, including within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future intentions or performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "guidance", "demonstrate", "expect", "may", "can", "will", "project", "predict", "potential", "target", "intend", "could", "might", "should", "believe", "would" and similar expressions and include statements relating to, among other things, expected timing of completion of the Glacier gas plant expansion project; potential restriction on natural gas production levels; the deferral of well completions and the re-allocation of capital to drill new wells at Glacier and the timing and anticipated benefits therefrom; the anticipated number of wells to be drilled; the Corporation's expectation that liquids production for 2018 will grow and the 2018 year end exit rate; the impact of increased drilling on the Corporation's total production during the latter part of 2019 and 2020 and the benefits to be derived therefrom; anticipated annual 2018 production and financial guidance; and other matters. Advantage's actual decisions, activities, results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that Advantage will derive from them. 

These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Advantage's control, including, but not limited to: changes in general economic, market and business conditions; industry conditions; impact of significant declines in market prices for oil and natural gas; actions by governmental or regulatory authorities including increasing taxes and changes in investment or other regulations; changes in tax laws, royalty regimes and incentive programs relating to the oil and gas industry; Advantage's success at acquisition, exploitation and development of reserves; failure to achieve production targets on timelines anticipated or at all; unexpected drilling results; changes in commodity prices, currency exchange rates, capital expenditures, reserves or reserves estimates and debt service requirements; the occurrence of unexpected events involved in the exploration for, and the operation and development of, oil and gas properties, including hazards such as fire, explosion, blowouts, cratering, and spills, each of which could result in substantial damage to wells, production facilities, other property and the environment or in personal injury; changes or fluctuations in production levels; individual well productivity; lack of available capacity on pipelines; delays in anticipated timing of drilling and completion of wells; delays in completion of the expansion of the Glacier gas plant; delays in gas production from the Glacier gas plant; lack of available capacity on pipelines; individual well productivity; competition from other producers; the lack of availability of qualified personnel or management; credit risk; changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; our ability to comply with current and future environmental or other laws; stock market volatility and market valuations; liabilities inherent in oil and natural gas operations; uncertainties associated with estimating oil and natural gas reserves; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; geological, technical, drilling and processing problems and other difficulties in producing petroleum reserves; ability to obtain required approvals of regulatory authorities; and ability to access sufficient capital from internal and external sources. Many of these risks and uncertainties and additional risk factors are described in the Corporation's Annual Information Form dated March 5, 2018 which is available at www.Sedar.com and www.advantageog.com. Readers are also referred to risk factors described in other documents Advantage files with Canadian securities authorities.

With respect to forward-looking statements contained in this press release, Advantage has made assumptions regarding, but not limited to: timing of regulatory approvals, conditions in general economic and financial markets; effects of regulation by governmental agencies; current and future commodity prices and royalty regimes; future exchange rates; royalty rates; future operating costs, cash costs and liquids transportation costs; frac stages per well; lateral lengths per well; well costs; expected annual production growth rate; availability of skilled labor; availability of drilling and related equipment; timing and amount of capital expenditures; the impact of increasing competition; the price of crude oil and natural gas; that the Corporation will have sufficient cash flow, debt or equity sources or other financial resources required to fund its capital and operating expenditures and requirements as needed; that the Corporation's conduct and results of operations will be consistent with its expectations; that the Corporation will have the ability to develop the Corporation's properties in the manner currently contemplated; available pipeline capacity; that the Corporation will be able to complete the expansion and increase capacity at the Glacier gas plant; that Advantage's production will increase; current or, where applicable, proposed assumed industry conditions, laws and regulations will continue in effect or as anticipated; and that the estimates of the Corporation's production and reserves volumes and the assumptions related thereto (including  commodity prices and development costs) are accurate in all material respects. Production estimates contained herein are expressed as anticipated average production over the calendar year. In determining anticipated production for the year ended December 31, 2018 Advantage considered historical drilling, completion and production results for prior years and took into account the estimated impact on production of the Corporation's 2018 expected drilling and completion activities.

Management has included the above summary of assumptions and risks related to forward-looking information in order to provide shareholders with a more complete perspective on Advantage's future operations and such information may not be appropriate for other purposes. Advantage's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Advantage will derive there from. Readers are cautioned that the foregoing lists of factors are not exhaustive. These forward-looking statements are made as of the date of this press release and Advantage disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

This press release and, in particular the information in respect of the Corporation's prospective annual operating costs, transportation costs, total corporate cash costs and capital expenditures may contain future oriented financial information ("FOFI") within the meaning of applicable securities laws. The FOFI has been prepared by management to provide an outlook of the Corporation's activities and results and may not be appropriate for other purposes. The FOFI has been prepared based on a number of assumptions, including the assumptions discussed above, and assumptions with respect to the costs and expenditures to be incurred by the Corporation, capital equipment and operating costs, foreign exchange rates, taxation rates for the Corporation, general and administrative expenses and the prices to be paid for the Corporation's production. Management does not have firm commitments for all of the costs, expenditures, prices or other financial assumptions used to prepare the FOFI or assurance that such operating results will be achieved and, accordingly, the complete financial effects of all of those costs, expenditures, prices and operating results are not objectively determinable. The actual results of operations of the Corporation and the resulting financial results may vary from the amounts set forth herein, and such variations may be material. The Corporation and management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments. However, because this information is highly subjective and subject to numerous risks including the risks discussed above, it should not be relied on as necessarily indicative of future results. FOFI contained in this press release was made as of the date of this press release and the Corporation disclaims any intention or obligations to update or revise any FOFI contained in this press release, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law.

Barrels of oil equivalent (boe) and thousand cubic feet of natural gas equivalent (mcfe) may be misleading, particularly if used in isolation. Boe and mcfe conversion ratios have been calculated using a conversion rate of six thousand cubic feet of natural gas equivalent to one barrel of oil. A boe and mcfe conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

The following abbreviations used in this press release have the meanings set forth below.

 

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SOURCE Advantage Oil & Gas Ltd.

(TSX: AAV, NYSE: AAV)

CALGARY, April 15, 2018 /PRNewswire/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to announce the appointment of David Sterna to the position of Vice President Marketing and Commercial.  Mr. Sterna has significant expertise with commodity marketing including the development of market diversification initiatives such as LNG and industrial gas projects. He has over 20 years of executive and senior Management experience and was most recently at Progress Energy Canada Ltd., a wholly owned subsidiary of Petroliam Nasional Berhad (PETRONAS), with previous positions at a number of senior and intermediate upstream oil and gas producers.

Advantage believes that increasing global and domestic demand for clean natural gas and associated by-products will create long term Canadian supply growth opportunities to new commercial ventures that could broaden and diversify the Corporation's revenue sources.  Mr. Sterna's knowledge and experience in this new Executive position will complement Advantage's existing leadership team in the development/implementation of go-forward strategies to enhance the continued development of the Corporation's industry leading low cost Montney natural gas and liquids resource.

About Advantage

Advantage Oil & Gas Ltd. is a Canadian upstream exploration and production company focused on development of its significant position in the Montney natural gas and liquids resource play. The Corporation's common shares trade on the Toronto and New York Stock Exchanges under the symbol AAV.

Advisory

The information in this press release contains certain forward-looking statements, including within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future intentions or performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "guidance", "demonstrate", "expect", "may", "can", "will", "project", "predict", "potential", "target", "intend", "could", "might", "should", "believe", "would" and similar expressions and include statements relating to, among other things, Advantage's belief that increasing global and domestic demand for clean natural gas and associated by-products provides long term opportunities to broaden revenue sources and to supply future projects. Advantage's actual decisions, activities, results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that Advantage will derive from them.

These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Advantage's control, including, but not limited to: changes in general economic, market and business conditions; industry conditions; actions by governmental or regulatory authorities including increasing taxes and changes in investment or other regulations and changes in tax laws. Many of these risks and uncertainties and additional risk factors are described in the Corporation's Annual Information Form which is available at www.Sedar.com and www.advantageog.com. Readers are cautioned that the foregoing lists of factors is not exhaustive.

With respect to forward-looking statements contained in this press release, Advantage has made assumptions regarding, but not limited to: conditions in general economic and financial markets; effects of regulation by governmental agencies; current and future commodity prices and royalty regimes; future exchange rates; timing and amount of capital expenditures; the price of crude oil and natural gas; that the Corporation will have sufficient cash flow, debt or equity sources or other financial resources required to fund its capital and operating expenditures and requirements as needed; that the Corporation's conduct and results of operations will be consistent with its expectations; and current or, where applicable, proposed assumed industry conditions, laws and regulations will continue in effect or as anticipated.

These forward-looking statements are made as of the date of this press release and Advantage disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

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SOURCE Advantage Oil & Gas Ltd.

(TSX: AAV, NYSE: AAV)

CALGARY, March 21, 2018 /PRNewswire/ - Advantage Oil & Gas Ltd. ("Advantage") is commencing an odd-lot share repurchase program (the "Odd Lot Program") pursuant to which it will offer to buy back common shares from registered and beneficial shareholders of Advantage who own 99 or fewer common shares ("Odd Lot Holders"). The Odd Lot Program affords Odd Lot Holders the opportunity to sell all, but not less than all, of their common shares or to continue to maintain their current holdings. Advantage will purchase up to a maximum of Cdn. $4 million of its common shares under the Odd Lot Program (the "Maximum").

The Odd Lot Program will begin on March 27, 2018 and will expire once the Maximum is met or at the close of business on May 8, 2018 (the "Period"), unless otherwise extended. Advantage may extend the Period for up to an additional six weeks and may increase the Maximum at its sole discretion.  

Under the Odd Lot Program, Advantage will pay tendering Odd Lot Holders the following:

1. Canadian Odd Lot Holders will receive a price per common share equal to the five day volume weighted average price ("5 day VWAP") of the common shares on the Toronto Stock Exchange for the week (i.e., calculated on the Friday) immediately prior to the week in which the Odd Lot Holder tenders their common shares; and
   
   
2. United States Odd Lot Holders will receive a price per common share equal to the 5 day VWAP of the common shares on the New York Stock Exchange for the week (i.e., calculated on the Friday) immediately prior to the week in which the Odd Lot Holder tenders their common shares.

Advantage believes that the Odd Lot Program will be beneficial to Odd Lot Holders as it is a voluntary program allowing tendering Odd Lot Holders to dispose of their common shares without incurring prohibitive brokerage and other fees. Further, if the Odd Lot Program is successful in significantly reducing the number of Odd Lot Holders, Advantage believes that both Advantage and its securityholders will benefit from the cost-savings respecting annual mailings and other securityholder communications as a result of a reduced number of shareholders.

The Odd Lot Program will be open to Odd Lot Holders of record as of March 20, 2018. Information about the Odd Lot Program and participation documents will be mailed to those Odd Lot Holders. Advantage has retained Computershare Investor Services Inc. ("Computershare") to manage the Odd Lot Program. Questions regarding the Odd Lot Program should be directed to Computershare toll free at 1-800-564-6253.

As of March 20, 2018, approximately 0.1% of the common shares are held by Odd Lot Holders. Any common shares purchased by Advantage under the Odd Lot Program will be cancelled.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction. Advantage is not making any recommendation as it relates to holding or selling common shares, and is not making any representation as to the price which may be realized on the sale of common shares under the Odd Lot Program. Eligible Odd Lot Holders may wish to obtain advice from their broker or financial advisor as to the advisability of participating. The tax consequences for each Odd Lot Holder in the Odd Lot Program may vary. Advantage and Computershare make no representations with respect to the tax consequences for a particular Odd Lot Holder. It is recommended that each Odd Lot Holder consult their personal tax advisor as to the consequences to them of a sale under the Odd Lot Program. Participation in the Odd Lot Program is voluntary.

Advisory

The information in this press release contains certain forward-looking statements, including within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future intentions or performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "guidance", "demonstrate", "expect", "may", "can", "will", "project", "predict", "potential", "target", "intend", "could", "might", "should", "believe", "would" and similar expressions and include statements relating to, among other things, Advantage's conduct of the Odd Lot Program, Advantage's beliefs regarding the benefits of the Odd Lot Program and the details of the Odd Lot Program. Advantage's actual decisions, activities, results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that Advantage will derive from them.

These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Advantage's control, including, but not limited to: changes in general economic, market and business conditions; industry conditions; actions by governmental or regulatory authorities including increasing taxes and changes in investment or other regulations; risk that a significant number of Odd Lot Holders do not tender to the Odd Lot Program; failure of Advantage to achieve the perceived benefits of the Odd Lot Program; and changes in tax laws. Many of these risks and uncertainties and additional risk factors are described in the Corporation's Annual Information Form which is available at www.Sedar.com and www.advantageog.com. Readers are cautioned that the foregoing lists of factors is not exhaustive.

With respect to forward-looking statements contained in this press release, Advantage has made assumptions regarding, but not limited to: conditions in general economic and financial markets; effects of regulation by governmental agencies; current and future commodity prices and royalty regimes; future exchange rates; timing and amount of capital expenditures; the price of crude oil and natural gas; that the Corporation will have sufficient cash flow, debt or equity sources or other financial resources required to fund its capital and operating expenditures and requirements as needed; that the Corporation's conduct and results of operations will be consistent with its expectations; and current or, where applicable, proposed assumed industry conditions, laws and regulations will continue in effect or as anticipated.

These forward-looking statements are made as of the date of this press release and Advantage disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE Advantage Oil & Gas Ltd.

Solid 2017 Operational Performance and Record Net Income, Successful First Wells at Wembley & Progress Confirm High Liquid Yields & Free Condensate

(TSX: AAV, NYSE: AAV)

CALGARY, March 5, 2018 /PRNewswire/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to report record net income for 2017 of $95 million ($0.51/share) resulting from strong operating and financial results and drilling successes which now include our first liquids rich wells at Wembley and Progress, Alberta.  Advantage's first delineation well at Wembley demonstrated a flow rate of 1,312 boe/d with 819 bbls/d of propane plus ("C3+") hydrocarbon liquids (yield of 277 bbls/mmcf) including wellhead condensate/oil of 624 bbls/d.  Our first delineation well at Progress demonstrated a flow rate of 624 boe/d with 172 bbls/d of C3+ hydrocarbon liquids including 75 bbls/d of wellhead condensate/oil.  These results and our 2017 liquids rich four well pad at Valhalla (combined flow rate of 6,410 boe/d with 1,075 bbls/d liquids) confirm significant hydrocarbon liquids and free condensate/oil accumulations within our 110 net sections (70,400 acres) of land contained in these three areas, located proximal to our Glacier property.  These results help extend and confirm the Corporation's growing liquids rich inventory beyond the liquids rich Middle Montney formation at Glacier and allows Advantage to invest in additional resource opportunities to continue creating long term value.

We continue to demonstrate our passion and dedication in striving for operational, financial, health, safety and environmental excellence.  We look forward to reporting results on our progress through 2018 and beyond as we maintain our commitment on operational excellence at our Glacier project while increasing our focus on liquids development and prudently undertake capital investments to grow shareholder value.

Operating and Financial Results Summary

(please refer to Advantage's press release on February 12, 2018 which provides year-end reserves and an operational update)

Key 2017 results which contributed to our strong earnings is included below: 

• Record annual production of 236 mmcfe/d (39,315 boe/d) and 3 year annual average production growth per debt adjusted share of 21%
• Industry leading low total cash costs of $0.88/mcfe ($5.28/boe)
• Low cost reserve additions with an all-in proved plus probable finding and development ("F&D") cost of $0.84/mcfe ($5.01/boe) and proved developed producing F&D cost of $1.32/mcfe ($7.92/boe)
• Realized hedging gains of $28 million resulting from our proactive commodity risk management and diversification initiatives. At December 31, 2017, the value of our future unrealized hedging gains was estimated to be $51 million
• Strong cash flow of $183 million with an operating netback margin and cash flow margin of 76% and 71%, respectively, and
• Preservation of a strong balance sheet with a year-end total debt to cash flow ratio of 1.2

Valhalla, Wembley and Progress Area Updates

As a result of our liquids rich drilling successes in these areas, plans are currently being reviewed to evaluate future drilling along with gathering and processing system infrastructure designs to; i) ensure future delineation/appraisal drilling is conducted in a manner that systematically obtains the most knowledge and to optimize returns on all multiple liquids rich Montney layers while preserving financial flexibility; ii) evaluate options to optimize future investment returns through integration of our land blocks into our 100% owned low cost processing and gathering infrastructure; and iii) evaluate innovative value chain concepts which could help mitigate commodity price volatility while maintaining attractive returns on investment.

We are excited about these initial results and observe that additional industry locations have recently been licensed and more wells have been drilled adjacent to our lands.  Area producers are also evaluating additional Montney layers which further demonstrates the significant exposure to the liquids rich development potential that could be realized on Advantage's land blocks.  

Wembley (31 net sections)

Advantage's first delineation well located at 12-25-72-08W6 was drilled to a lateral length of 2,254 meters and was fracture stimulated with 38 stages.  The 12-25 well was production tested over a total of 17 days at restricted rates due to regulatory flaring limitations and was flowed up the production casing at a draw down of less than 20% of the reservoir pressure.  At the conclusion of our production test period, our well demonstrated an average flow rate of 1,312 boe/d consisting of 2.9 mmcf/d of gas and 819 bbls/d of hydrocarbon liquids.  The wellhead condensate/oil rate was 624 bbls/d with an additional 195 bbls/d of C3+ liquids based on a shallow cut extraction process.  The condensate/oil is 84% of the total recoverable liquids.  Consistent with industry offset Pipestone/Wembley wells during production testing and permanent production, the condensate/oil yield continued to increase as frac load water was being recovered.  Only 34% of the initial load fluid in our 12-25 well has been recovered and we anticipate that liquid rates could continue to improve with longer production times and the installation of production tubing to optimize wellbore flow dynamics.  Options for tie-in of the 12-25 well for permanent production, including connecting the well back to our Glacier gas plant, are being evaluated as near term processing capacity is limited in the immediate area.

Progress (39 net sections)

Our first delineation well located at 13-31-77-09W6 was drilled to a lateral length of 2,313 meters and was fracture stimulated with 44 stages.  The 13-31 well was production tested over a 6 day period and was drawn down to less than 40% of the reservoir pressure while flowing up production casing.  At the conclusion of the test, the 13-31 well was producing at an average rate of 624 boe/d consisting of 2.7 mmcf/d of gas and 172 bbls/d of hydrocarbon liquids. The wellhead condensate rate was 75 bbls/d with an additional 97 bbls/d of C3+ liquids based on a shallow cut extraction process.  The condensate/oil is 63% of the total recoverable liquids.  Consistent with the profile of producing industry offset wells, the flow rate of our 13-31 well increased throughout the flow period as frac load water was being recovered.  Only 13% of the initial load fluid in our well has been recovered and we anticipate that the production rate could continue to improve with longer production times and installation of production tubing to optimize wellbore flow dynamics.  Options for tie-in of the 13-31 well for permanent production, including connecting the well back to our Glacier gas plant, is being evaluated as near term processing capacity is limited in the immediate area.    

Valhalla (40 net sections)

At Valhalla, design and permitting is underway to construct an initial facility installation which includes 40 mmcf/d of compression and liquids handling equipment to collect and transport natural gas and liquids for processing at our 100% owned Glacier gas plant.  This facility is designed to accommodate liquids rich natural gas production from our recent four well pad and is expandable to accommodate additional growth.  The location of this facility could also be utilized as a hub where future production from Wembley and Progress could be collected and transported to our Glacier gas plant such that netbacks and investment returns may be enhanced due to the benefits realized through economies of scale and integration with our established industry leading low cost structure. This facility is scheduled to be completed in the fourth quarter of 2018. 

Glacier Gas Plant Expansion

The expansion of our 100% owned Glacier Gas Plant is on-track for anticipated completion in the second quarter of 2018.  Two incremental process equipment units were added as part of the expansion project to begin generating new revenue and provide more flexibility and efficiency in the plant's operation due to successful wells in our adjacent land blocks.  One of the process units added was an electric power generator which will provide surplus electricity sales (2.4 MW) into the Alberta grid and the other process unit is a heat exchanger.  Upon completion, the Glacier gas plant will provide 400 mmcf/d of raw gas processing capability, including 6,800 bbls/d of C3+ liquids extraction and will provide additional capacity to accommodate future growth and process production from our adjacent land blocks.

Market Diversification

Advantage's continued market diversification initiatives are expected to result in revenue exposure to AECO prices of 4% and 28% for the first quarter and calendar year 2018, respectively.  In addition to our Dawn, Ontario market exposure, which comprises approximately 20% of our current production, we have recently added contracts to transport natural gas to the Chicago/Ventura U.S. mid-west markets.  This will start in November 2018 with an initial volume of 20,000 mmbtu/d and increases to an annual average volume of 35,000 mmbtu/d in 2019 and 62,500 mmbtu/d in 2020 at a cost of approximately US $1.15/mmbtu to US $1.20/mmbtu.

Complementing our physical market diversification efforts are other financial contracts whereby we have both fixed the price on a portion of our natural gas production and entered basis contracts to diversify revenue to the Henry Hub market. For 2018, we have fixed the price on 37% of our estimated natural gas production (91 mmcf/d) at Cdn $3.21/mcf and 46 mmcf/d for 2019 at Cdn $2.89/mcf.  We also have 19 mmcf/d (approximately 8% of 2018 estimated production) and 25 mmcf/d of our 2019 natural gas production exposed to Henry Hub prices with basis differentials of US $ 0.95/mmbtu and US $ 0.90/mmbtu respectively.

Looking Forward

Our 2018 production guidance includes a slight reduction in production volumes during the second quarter of 2018 followed by a continued increase through the second half of 2018 to achieve our production guidance of 255 to 265 mmcfe/d. The first quarter is anticipated to be 242 to 246 mmcfe/d and approximately 3% lower in the second quarter of 2018 to accommodate a short plant outage in order to complete the integration of new equipment and commissioning as part of the Glacier gas plant expansion. Average liquids production for 2018 is targeted at 1,900 bbls/d, exiting the year at 2,400 bbls/d.  Advantage's $175 million capital program for 2018 is weighted approximately 60% to the first half of the year, with the majority of spending occurring during the first quarter including completion of the Glacier Gas Plant expansion.

Advantage's Montney development at Glacier has been successfully executed since 2008 based on maintaining an industry leading low cost structure, preserving a strong balance sheet and preserving operational and financial flexibility.  These factors, in conjunction with an increased focus on liquids development in 2018 and beyond will provide Advantage with the ability to respond promptly and responsibly to market conditions.  We wish to thank all of our shareholders and our Board of Directors for their ongoing support and most importantly, all of our people

We look forward to reporting on our progress through 2018.

Fourth Quarter and Full-Year Operating and Financial Summary

Production increased 11% in the fourth quarter of 2017 to a record 245 mmcfe/d (40,857 boe/d) with 2017 average production higher by 16% to 236 mmcfe/d (39,315 boe/d), as compared to the same periods in 2016.  Natural gas liquids production has grown to 1,227 bbls/d for the fourth quarter of 2017, a 29% increase from the same period in 2016 and consisting of approximately 70% condensate. Production met our original guidance targets despite significant third party pipeline restrictions which impacted the majority of western Canadian producers through 2017.

Funds from operations were $43.9 million or $0.24/share for the quarter and $183.2 million or $0.99/share for the year. Higher production, market diversification initiatives, a proactive hedging strategy and industry-leading low corporate cash costs of $0.88/mcfe for the year resulted in strong funds from operations.

Net income earned of $95.0 million or $0.51/share for the year and $21.4 million or $0.12/share for the fourth quarter of 2017. Higher production and gains on our derivative contracts resulted in net income throughout 2017. Excluding unrealized gains on derivatives of $17.2 million and $73.3 million in the three months and year ended December 31, 2017, Advantage would have still generated significant net income.

Achieved a 3 year all-in capital efficiency of $15,333/boe/d.  Advantage's 2017 all-in capital efficiency of $17,000/boe/d includes $80 million for our Glacier gas plant expansion and $7 million for land acquisitions, which results in a capital efficiency of $11,100/boe/d when these expenditures are excluded.

Continued market diversification such that only 28% of our estimated 2018 revenue is exposed to AECO prices.  This market diversification includes fixed price hedges, Henry Hub and Dawn market exposures and access to the Alliance Pipeline in 2018 which will provide further opportunities into the mid-west U.S.

The Corporation's audited consolidated financial statements for the fiscal year ended December 31, 2017 together with the notes thereto, and Management's Discussion and Analysis for the year ended December 31, 2017 have been filed on SEDAR and with the SEC and are available on the Corporation's website at http://www.advantageog.com/investors/financial-reports/2017-2. The Corporation's audited consolidated financial statements for the fiscal year ended December 31, 2016 are also available on the Corporation's website via the same webpage. Upon request, Advantage will provide a hard copy of any financial reports free of charge.

Advisory
The information in this press release contains certain forward-looking statements, including within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future intentions or performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "guidance", "demonstrate", "expect", "may", "can", "will", "project", "predict", "potential", "target", "intend", "could", "might", "should", "believe", "would" and similar expressions and include statements relating to, among other things, the Corporation's belief that recent well results help extend and confirm the Corporation's significant liquids rich inventory and strengthens Advantage's options to create long term value; the Corporation's plans to continue development of its oil and natural gas resource contained within its land holdings and increase production; the Corporation's plans to evaluate future drilling along with gathering and processing system infrastructure designs and Advantage's strategy with respect to such evaluation; Advantage's anticipation that its 12-25 and 13-31 wells could continue to improve with longer production times and installation of production tubing to optimize flow dynamics; options being considered by the Corporation for tie-in of the 12-25 and 13-31 wells for permanent production; expected timing of completion of the facility at Valhalla; expected timing of completion of expansion of the Corporation's Glacier gas plant, including the anticipated raw processing capacity following such expansion; Advantage's expectation that the expansion of the Corporation's Glacier gas plant will support anticipated production growth; Advantage's expected revenue exposure from its continued market diversification initiatives; Advantage's future hedging positions and the terms of the Corporation's derivative contracts; Advantage's anticipated annual 2018 production guidance range, including expected production in each of the first and second quarters of 2018 and the expected amount of liquids production for 2018 and exit liquids production; Advantage's capital program for 2018, including the expected timing of incurring capital expenditures; the factors that Advantage believes will provide Advantage with the ability to respond promptly and responsibly to market conditions; and other matters. Advantage's actual decisions, activities, results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that Advantage will derive from them.

These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Advantage's control, including, but not limited to: changes in general economic, market and business conditions; industry conditions; impact of significant declines in market prices for oil and natural gas; actions by governmental or regulatory authorities including increasing taxes and changes in investment or other regulations; changes in tax laws, royalty regimes and incentive programs relating to the oil and gas industry; the effect of acquisitions; Advantage's success at acquisition, exploitation and development of reserves; failure to achieve production targets on timelines anticipated or at all; unexpected drilling results; changes in commodity prices, currency exchange rates, capital expenditures, reserves or reserves estimates and debt service requirements; the occurrence of unexpected events involved in the exploration for, and the operation and development of, oil and gas properties, including hazards such as fire, explosion, blowouts, cratering, and spills, each of which could result in substantial damage to wells, production facilities, other property and the environment or in personal injury; changes or fluctuations in production levels; individual well productivity; lack of available capacity on pipelines; delays in anticipated timing of drilling and completion of wells; delays in completion of the expansion of the Glacier gas plant; delays in completion of the facility at Valhalla; that test results are not indicative of future production rates; lack of available capacity on pipelines; individual well productivity; competition from other producers; the lack of availability of qualified personnel or management; credit risk; changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; our ability to comply with current and future environmental or other laws; stock market volatility and market valuations; liabilities inherent in oil and natural gas operations; uncertainties associated with estimating oil and natural gas reserves; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; geological, technical, drilling and processing problems and other difficulties in producing petroleum reserves; ability to obtain required approvals of regulatory authorities; and ability to access sufficient capital from internal and external sources. Many of these risks and uncertainties and additional risk factors are described in the Corporation's Annual Information Form dated March 5, 2018 which is available at www.Sedar.com and www.advantageog.com. Readers are also referred to risk factors described in other documents Advantage files with Canadian securities authorities.

With respect to forward-looking statements contained in this press release, Advantage has made assumptions regarding, but not limited to: timing of regulatory approvals, conditions in general economic and financial markets; effects of regulation by governmental agencies; current and future commodity prices and royalty regimes; future exchange rates; royalty rates; future operating costs, cash costs and liquids transportation costs; frac stages per well; lateral lengths per well; well costs; expected annual production growth rates availability of skilled labor; availability of drilling and related equipment; timing and amount of capital expenditures; the impact of increasing competition; the price of crude oil and natural gas; that the Corporation will have sufficient cash flow, debt or equity sources or other financial resources required to fund its capital and operating expenditures and requirements as needed; that the Corporation's conduct and results of operations will be consistent with its expectations; that the Corporation will have the ability to develop the Corporation's properties in the manner currently contemplated; available pipeline capacity; that the Corporation will be able to complete the expansion and increase capacity at the Glacier gas plant; that Advantage's production will increase; current or, where applicable, proposed assumed industry conditions, laws and regulations will continue in effect or as anticipated; and that the estimates of the Corporation's production and reserves volumes and the assumptions related thereto (including commodity prices and development costs) are accurate in all material respects. Production estimates contained herein are expressed as anticipated average production over the calendar year. In determining anticipated production for the year ended December 31, 2018 Advantage considered historical drilling, completion and production results for prior years and took into account the estimated impact on production of the Corporation's 2018 expected drilling and completion activities.

Management has included the above summary of assumptions and risks related to forward-looking information in order to provide shareholders with a more complete perspective on Advantage's future operations and such information may not be appropriate for other purposes. Advantage's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Advantage will derive there from. Readers are cautioned that the foregoing lists of factors are not exhaustive. These forward-looking statements are made as of the date of this press release and Advantage disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

This press release contains a number of oil and gas metrics, including operating netbacks, reserve additions, proved plus probable finding and development cost and proved developed producing F&D cost, which do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies and should not be used to make comparisons. Such metrics have been included herein to provide readers with additional measures to evaluate the Corporation's performance; however, such measures are not reliable indicators of the future performance of the Corporation and future performance may not compare to the performance in previous periods and therefore such metrics should not be unduly relied upon. Management uses these oil and gas metrics for its own performance measurements and to provide securityholders with measures to compare Advantage's operations over time. Readers are cautioned that the information provided by these metrics, or that can be derived from the metrics presented in this news release, should not be relied upon for investment or other purposes. Operating netback is calculated by adding natural gas and liquids sales with realized gains and losses on derivatives and subtracting royalty expense, operating expense and transportation expense. Reserve replacement is calculated by dividing reserves net volume additions of 62,063 mboe for proved plus probable reserves and 65,355 mboe for proved reserves by the current annual production of 14,350 mboe and expressed as a percentage and using Sproule Associates Ltd. pricing at December 31, 2017. F&D costs are calculated by dividing total capital by reserve additions during the applicable period. Total capital includes both capital expenditures incurred and changes in future development capital required to bring proved undeveloped reserves and probable reserves to production during the applicable period. Reserve additions is calculated as the change in reserves from the beginning to the end of the applicable period excluding production. Sproule Associates Ltd. was engaged as an independent qualified reserve evaluator to evaluate Advantage's year-end reserves as of December 31, 2017 in accordance with National Instrument 51-101 and the Canadian Oil and Gas Evaluation Handbook. Information in respect of our reserves for the year ended December 31, 2017 is included in our Annual Information Form dated March 5, 2018 which is available at www.Sedar.com.

References in this press release to flow rates and other short-term production rates are useful in confirming the presence of hydrocarbons, however such rates are not determinative of the rates at which such wells will commence production and decline thereafter and are not indicative of long term performance or of ultimate recovery. Additionally, such rates may also include recovered "load oil" fluids used in well completion stimulation. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production of Advantage.

Barrels of oil equivalent (boe) and thousand cubic feet of natural gas equivalent (mcfe) may be misleading, particularly if used in isolation. Boe and mcfe conversion ratios have been calculated using a conversion rate of six thousand cubic feet of natural gas equivalent to one barrel of oil. A boe and mcfe conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

The Corporation discloses several financial measures that do not have any standardized meaning prescribed under International Financial Reporting Standards ("IFRS"). These financial measures include operating netbacks, cash netbacks, cash costs, all-in capital efficiency and total debt to cash flow ratio. Cash netbacks are dependent on the determination of funds from operations and include the primary cash sales and expenses on a per mcfe basis that comprise funds from operations. Total debt to cash flow ratio is calculated as indebtedness under the Corporation's credit facilities plus working capital deficit divided by funds from operations for the prior twelve month period All-in capital efficiency is calculated by dividing year-end total capital development costs for oil and gas activities including drilling, completion, facilities, infrastructure, office and capitalized general and administrative costs (excluding abandonment and reclamation costs and acquisition and disposition related costs and proceeds) by the average production additions of the applicable year to replace base production declines and deliver production growth targets, expressed in $/boe/d.  Production per debt-adjusted share is equal to the average production volumes for a year divided by the sum of the number of common shares issued and outstanding at year end and the net debt converted to equity at year end using the closing share price of Advantage on the TSX at year end. Three year annual average production growth per debt-adjusted share is the percentage change in production per debt-adjusted share from 2014 to 2017.  Management believes that these financial measures are useful supplemental information to analyze operating performance and provide an indication of the results generated by the Corporation's principal business activities. Investors should be cautioned that these measures should not be construed as an alternative to net income or other measures of financial performance as determined in accordance with IFRS. Advantage's method of calculating these measures may differ from other companies, and accordingly, they may not be comparable to similar measures used by other companies. Please see the Corporation's most recent Management's Discussion and Analysis, which is available at www.sedar.com and www.advantageog.com for additional information about these financial measures, including a reconciliation of funds from operations to cash provided by operating activities.

SOURCE Advantage Oil & Gas Ltd.

Low Cost Reserve Additions and Record
2017 Production & Operating Performance

(TSX: AAV, NYSE: AAV)

CALGARY, Feb. 12, 2018 /PRNewswire/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to report that the Corporation's 2017 Montney development program replaced 433% of annual production, generated low cost reserve additions in each reserve category and extended liquids rich reserve bookings beyond Glacier to our Valhalla land block.  Reserve additions at Glacier were led by new location bookings in the liquids rich Middle Montney, prolific natural gas well results in the Lower Montney and positive technical revisions resulting from better long term producing well performance.  At Valhalla, successful drilling results confirmed strong natural gas rates and high liquid yields in the Upper and Middle Montney formations. This resulted in Advantage's first bookings of undeveloped locations at Valhalla which has further increased our significant liquids rich drilling inventory.   

Advantage achieved record fourth quarter production of 245 mmcfe/d (40,857 boe/d) and increased our annual production by 16% (14% per share) to a record 236 mmcfe/d (39,315 boe/d).  Advantage's annual cash flow increased 10% to $183 million, supported by a 50% increase in liquids revenue and the Corporation's proactive market diversification and hedging initiatives.  These initiatives resulted in a 16% exposure to AECO natural gas prices and an average realized natural gas price of $2.69/mcf as compared to an AECO daily price of $1.69/mcf in the fourth quarter.  Furthermore, these initiatives are expected to result in the Corporation's 2018 revenue exposure to AECO prices of 4% and 28% for the first quarter and calendar 2018, respectively.  The Corporation successfully reduced 2017 total cash costs to $0.88/mcfe including operating costs of $0.25/mcfe which helped contribute to a year-end total debt to cash flow ratio of 1.2.

Advantage's 2017 operating activities included liquids rich drilling successes, the acquisition of 37 sections of additional liquids rich Montney lands and the commencement of a major expansion of our 100% owned Glacier gas plant which further enhances our operational flexibility. These achievements position Advantage to increase its focus on liquids development in 2018 and beyond with the ability to respond promptly and responsibly to market conditions.

Highlights of our year-end reserve additions are:

• Replaced 433% and 455% of 2017 annual production on a 2P and 1P basis, respectively
• Proved developed producing ("PDP") reserves increased by 27% (24% on a per share basis) at a finding and development ("F&D") cost of $1.32/mcfe ($7.92/boe) and a PDP recycle ratio of 1.6. The three year average PDP F&D cost is $1.30/mcfe ($7.80/boe)
• Proved ("1P") reserves increased by 20% (17% on a per share basis) at a F&D cost of $0.98/mcfe ($5.88/boe) including the change in future development capital ("FDC")
• Proved plus probable ("2P") reserve additions increased by 13% (11% on a per share basis) at a F&D cost of $0.84/mcfe ($5.01/boe) including the change in FDC. The 3 year average F&D cost is $0.52/mcfe ($3.11/boe)
• 2P reserves increased 13% to 2.49 Tcfe (413.8 million boe) including natural gas liquids which increased by 35% to 31.8 million barrels
• Recycle ratios of 2.5, 2.1 and 1.6 were achieved for 2P, 1P and PDP reserve additions, respectively
• Strong longer term well production performance has reduced our corporate base production decline estimate to approximately 26% per annum for 2018
• Valhalla liquids rich gas reserve booking increased to 18 mmboe resulting from successful wells

Highlights of our operating and financial results in 2017 are:

• Increased fourth quarter 2017 production by 11% to a record 245 mmcfe/d (40,857 boe/d) compared to the same period in 2016
• Increased annual production by 16% (14% per share) to a record 236 mmcfe/d (39,315 boe/d) in a safe and environmentally responsible manner despite significant third party sales gas pipeline take-away restrictions which impacted the majority of western Canadian producers through 2017
• Reduced 2017 total cash costs by 8% to $0.88/mcfe ($5.28/boe), outperforming original guidance of $0.96/mcfe (cash costs include transportation)
• Increased annual cash flow by 10% (8% on a per share basis) to $183 million including $28 millon of hedging gains
• Achieved a 3 year all-in capital efficiency of $15,333/boe/d. Advantage's 2017 all-in annual capital efficiency of $17,000/boe/d includes $80 million for our Glacier gas plant expansion and $7 million for land acquisitions and $11,100/boe/d when these expenditures are excluded
• Preserved a strong balance sheet with a 2017 year-end total debt to trailing cash flow ratio of 1.2 times
• Continued market diversification such that only 28% of our estimated 2018 revenue is exposed to AECO prices
• Opportunistically acquired 37 sections of complementary Montney acreage and successfully extended liquids rich delineation drilling within and outside Glacier

2017 Reserves Related Commentary and Analysis

Sproule Associates Ltd. ("Sproule") was engaged as an independent qualified reserve evaluator to evaluate Advantage's year-end reserves as of December 31, 2017 ("Sproule 2017 reserve report") in accordance with National Instrument 51-101 ("NI 51-101") and the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook").  Reserves are stated on a gross (before royalties) working interest basis unless otherwise indicated.  Additional details are provided in the accompanying tables to this release and additional reserve information as required under NI 51-101 will be included in our Annual Information Form which will be filed on SEDAR on or before March 31, 2018.  All references to 2017 operational and financial results are estimates only and have not been reviewed or audited by our independent auditor.  Advantage is expected to release its fourth quarter and year-end results after markets close on March 5, 2018.

Advantage's 2017 reserve additions include contributions from Glacier and Valhalla. The Corporation's Valhalla land block is located approximately 16 kilometers east of Glacier and is pipeline connected to our 100% owned Glacier gas plant.  In 2017, a 4 well Montney pad was drilled as a follow-up to 3 wells that were placed on production in 2016.  This new 4 well pad demonstrated a combined initial production test rate of 6,410 boe/d comprised of 32 mmcf/d gas and 1,075 bbls/d of liquids (based on Glacier gas plant shallow cut extraction process).  Individual well C3+ liquid yields of 20 bbls/mmcf to in-excess of 100 bbls/mmcf with free condensate and/or oil compositions of up to 90% were recovered.  These wells will be placed on restricted production through the first half of 2018 due to the need to install additional liquids handling facilities at Valhalla. All wells are expected to be produced unrestricted when the new Valhalla compressor and liquids handling equipment is installed by the fourth quarter of 2018.

At Glacier, our activity was focused in the Lower and Middle Montney during 2017 and continued to demonstrate technology improvements in well operations and results. Advantage's eight well pad that was put on production in early 2017 included five Lower Montney wells which produced at rates of approximately 8 mmcf/d after more than a year of production.  In the Middle Montney, several wells were drilled in previously undrilled areas of Glacier and proved up additional liquids rich reserves and demonstrated production rates above type curve expectations.    

At our Wembley and Progress land blocks, one well at Progress and one well at Wembley have been fracture stimulated and flow results are expected to be available once production testing is completed.

Additional comments pertaining to each of the reserve categories are included below:

PDP reserves increased 27% due to the recognition of 27 new Glacier wells that were brought on production through 2017 and higher reserves assignments on historical producing wells due to stronger performance than previously forecast.

1P reserves increased 20% resulting from technical revisions which accounted for 45% of the 1P reserve additions.  The remaining reserve additions resulted from the conversion of probable locations to the proved reserves category and the booking of new proven undeveloped locations. 

2P reserves increased 13% through the addition of 56 new wells and locations (40 Glacier and 16 Valhalla).   Of the 56 new wells and locations, 30 were proved undeveloped locations.  A total of 337 undeveloped locations were booked in the 2017 reserve report.  Management estimates in-excess of 1,200 total Montney locations remains undrilled at Glacier and Valhalla.

2P FDC increased by $62 million to $1.66 billion as the reduction in facilities capital expenditures in the reserve report were offset by the cost of booking additional future well locations.

The strong recycle ratios reinforces the benefit of Advantage's industry leading low cost structure which continues to support strong netbacks and profit margins. These recycle ratios included the Corporation's hedges and were achieved in the environment where the AECO daily natural gas price averaged Cdn $2.15/mcf in 2017. 

Since Advantage's Montney development program began in 2008, 2P reserves have grown at an average compound annual growth rate ("CAGR") of 13% per year to 2.49 Tcfe (413.8 million boe) with a 2P and 1P reserve Net Present Value of $2.55 billion and $1.77 billion, respectively as at December 31, 2017 (10% discount factor on a pre-tax basis).

The Sproule 2017 reserve report demonstrates the continued efficient conversion of identified natural gas and natural gas liquids resources into 2P reserves. The reserves by category and year over year changes compared to 2016 are indicated below: 

 

The total number of 2P future well locations booked and the 2P estimated ultimate recoverable ("EUR") conventional natural gas volumes per well assigned by Sproule in the Sproule 2017 reserve report are illustrated in the following table:

 

Advantage's 1P reserve life index is 21 years and its 2P reserve life index is 28 years based on the Corporation's average fourth quarter 2017 production rate of approximately 245 mmcfe/d.

2017 Operating Results Summary
(References to 2017 operational and financial results are estimates only and have not been reviewed or audited by our independent auditor.  Advantage is expected to release its fourth quarter and year-end results after markets close on March 5, 2018)

Key operational results during the fourth quarter of 2017 and for calendar 2017 are indicated below:

 

Capital expenditures in 2017 were $7 million higher than our guidance range due to our decision to add two incremental process equipment units as part of our plant expansion and the rig release of 4 additional wells as drilling times were faster than scheduled on our year-end well pad.  One of the process units added was  an electric power generator which will provide surplus electricity sales (2.4 MW) into the Alberta grid and the other process unit is a gas exchanger which will provide more flexibility and efficiency in the plant operation.

Looking Forward

The Sproule 2017 reserve report demonstrates another year of highly efficient reserve additions at Glacier reinforcing the exceptional quality of our Montney asset and the outstanding achievements of our team who accomplished this in a safe and environmentally responsible manner.  Advantage's disciplined approach has and continues to be critically important in advancing our Montney natural gas and liquids development such that attractive returns are generated over the long term for our shareholders.  We look forward to reporting on our progress through 2018.  

RESERVE SUMMARY TABLES

Company Gross (before royalties) Working Interest Reserves
Summary as at December 31, 2017

 

Company Net Present Value of Future Net Revenue using Sproule price and cost forecasts ^(1)(2)(3)($000)

 

Sproule Price Forecasts

The net present value of future net revenue at December 31, 2017 was based upon natural gas and natural gas liquids pricing assumptions prepared by Sproule effective December 31, 2017. These forecasts are adjusted for reserve quality, transportation charges and the provision of any applicable sales contracts. The price assumptions used over the next seven years are summarized in the table below:

 

Company Gross (before royalties) Working Interest Reserves Reconciliation ⁽¹⁾:

 

Company Finding & Development Costs ("F&D")

Company 2017 F&D Costs – Gross (before royalties) Working Interest Reserves including Future Development Capital ^(1)(2)(3)    

 

Advisory
The information in this press release contains certain forward-looking statements, including within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future intentions or performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "demonstrate", "expect", "may", "can", "will", "project", "predict", "potential", "target", "intend", "could", "might", "should", "guidance", "believe", "would" and similar expressions and include statements relating to, among other things, Advantage's expectation with respect to its liquid development, hedge positions, market diversification and low cost structure; the timing of when wells will be placed on restricted production and expectations as to when they will be produced unrestricted; timing of the installation of new infrastructure; the benefits associated with Advantage's infrastructure; Advantage's belief that its Glacier development will continue to be an industry leading North American low cost natural gas supply source; the expected timing of release of Advantage's 2017 financial and operational results; estimated number of drilling locations; Advantage's estimated fourth quarter and full year 2017 financial and operating results including production, royalties, operating costs, transportation cost, operating netback, capital expenditures and total debt including working capital; and Advantage's focus on advancing its Montney natural gas and liquids development to generate long term attractive investment returns.  In addition, statements relating to "reserves" are by their nature forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions that the reserves described can be profitably produced in the future. The recovery and reserve estimates of Advantage's reserves provided herein are estimates only and there is no guarantee that the estimated reserves will be recovered. Advantage's actual decisions, activities, results, performance or achievement could differ materially from those expressed in, or implied by, such forward-looking statements and accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do, what benefits that Advantage will derive from them.

These statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Advantage's control, including, but not limited to: changes in general economic, market and business conditions; industry conditions; actions by governmental or regulatory authorities including increasing taxes and changes in investment or other regulations; changes in tax laws, royalty regimes and incentive programs relating to the oil and gas industry; the effect of acquisitions; Advantage's success at acquisition, exploitation and development of reserves; unexpected drilling results; changes in commodity prices, currency exchange rates, capital expenditures, reserves or reserves estimates and debt service requirements; the occurrence of unexpected events involved in the exploration for, and the operation and development of, oil and gas properties, including hazards such as fire, explosion, blowouts, cratering, and spills, each of which could result in substantial damage to wells, production facilities, other property and the environment or in personal injury; changes or fluctuations in production levels; delays in anticipated timing of drilling and completion of wells; delays in completion of the expansion of the Glacier gas plant; individual well productivity; competition from other producers; the lack of availability of qualified personnel or management; credit risk; changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; our ability to comply with current and future environmental or other laws; stock market volatility and market valuations; liabilities inherent in oil and natural gas operations; uncertainties associated with estimating oil and natural gas reserves; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; geological, technical, drilling and processing problems and other difficulties in producing petroleum reserves; ability to obtain required approvals of regulatory authorities; and ability to access sufficient capital from internal and external sources. Many of these risks and uncertainties and additional risk factors are described in the Corporation's Annual Information Form which is available at www.sedar.com ("SEDAR") and www.advantageog.com. Readers are also referred to risk factors described in other documents Advantage files with Canadian securities authorities.

With respect to forward-looking statements contained in this press release, Advantage has made assumptions regarding, but not limited to: conditions in general economic and financial markets; effects of regulation by governmental agencies; current and future commodity prices and royalty regimes; future exchange rates; royalty rates; future operating costs; availability of skilled labor; availability of drilling and related equipment; timing and amount of capital expenditures; the impact of increasing competition; the price of crude oil and natural gas; that the Corporation will have sufficient cash flow, debt or equity sources or other financial resources required to fund its capital and operating expenditures and requirements as needed; that the Corporation's conduct and results of operations will be consistent with its expectations; that the Corporation will have the ability to develop the Corporation's properties in the manner currently contemplated; current or, where applicable, proposed assumed industry conditions, laws and regulations will continue in effect or as anticipated; and the estimates of the Corporation's production and reserves volumes and the assumptions related thereto (including commodity prices and development costs) are accurate in all material respects.

Management has included the above summary of assumptions and risks related to forward-looking information above and in its continuous disclosure filings on SEDAR in order to provide shareholders with a more complete perspective on Advantage's future operations and such information may not be appropriate for other purposes. Advantage's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Advantage will derive there from. Readers are cautioned that the foregoing lists of factors are not exhaustive. These forward-looking statements are made as of the date of this news release and Advantage disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Barrels of oil equivalent (boe) and thousand cubic feet of natural gas equivalent (mcfe) may be misleading, particularly if used in isolation. Boe and mcfe conversion ratios have been calculated using a conversion rate of six thousand cubic feet of natural gas equivalent to one barrel of oil. A boe and mcfe conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

This press release contains a number of oil and gas metrics, including F&D, operating netback, recycle ratio, EUR, reserve replacement and reserve life index, which do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies and should not be used to make comparisons. Such metrics have been included herein to provide readers with additional measures to evaluate the Corporation's performance; however, such measures are not reliable indicators of the future performance of the Corporation and future performance may not compare to the performance in previous periods and therefore such metrics should not be unduly relied upon. Management uses these oil and gas metrics for its own performance measurements and to provide securityholders with measures to compare Advantage's operations over time. Readers are cautioned that the information provided by these metrics, or that can be derived from the metrics presented in this news release, should not be relied upon for investment or other purposes. Operating netback is calculated by adding natural gas and liquids sales with realized gains on derivatives and subtracting royalty expense, operating expense and transportation expense. Recycle ratio is calculated by dividing Advantage's fourth quarter operating netback by the calculated F&D of the applicable year and expressed as a ratio. Reserve replacement is calculated by dividing reserves net volume additions by the current annual production and expressed as a percentage. Reserve life index is calculated by dividing the total volume of reserves by the fourth quarter production rate and expressed in years. Reserves per share is calculated as the total volume of reserves divided by the number of common shares issued and outstanding at year end. Reserves per debt-adjusted share assumes the issuance of additional common shares at the closing trading price on the TSX necessary to extinguish outstanding debt at year end and is calculated as the total volume of reserves divided by the sum of the number of common shares issued and outstanding at year end and the debt at year end divided by the Corporation's closing trading price on the TSX at year end.

The recovery and reserve estimates of reserves provided in this news release are estimates only, and there is no guarantee that the estimated reserves will be recovered. Actual reserves may eventually prove to be greater than, or less than, the estimates provided herein.

This press release discloses drilling locations in three categories: (i) proved locations; (ii) probable locations; and (iii) unbooked locations. Proved locations and probable locations are derived from the Corporation's most recent independent reserves evaluation as prepared by Sproule as of December 31, 2017 and account for drilling locations that have associated proved and/or probable reserves, as applicable. Unbooked locations are internal estimates based on the Corporation's prospective acreage and an assumption as to the number of wells that can be drilled per section based on industry practice and internal review. Unbooked locations do not have attributed reserves or resources. Unbooked locations have been identified by management as an estimation of our multi-year drilling activities based on evaluation of applicable geologic, seismic, engineering, production and reserves information. There is no certainty that the Corporation will drill all unbooked drilling locations and if drilled there is no certainty that such locations will result in additional oil and gas reserves, resources or production. The drilling locations on which we actually drill wells will ultimately depend upon the availability of capital, regulatory approvals, seasonal restrictions, oil and natural gas prices, costs, actual drilling results, additional reservoir information that is obtained and other factors. While certain of the unbooked drilling locations have been derisked by drilling existing wells in relative close proximity to such unbooked drilling locations, other unbooked drilling locations are farther away from existing wells where management has less information about the characteristics of the reservoir and therefore there is more uncertainty whether wells will be drilled in such locations and if drilled there is more uncertainty that such wells will result in additional oil and gas reserves, resources or production.

The Corporation discloses several financial measures that do not have any standardized meaning prescribed under International Financial Reporting Standards ("IFRS"). These financial measures include total debt to trailing cash flow ratio and operating netback. Total debt to trailing cash flow ratio is calculated as bank indebtedness under the Corporation's credit facilities plus working capital deficit divided by funds from operations for the prior twelve month period. Funds from operations is based on cash provided by operating activities, before expenditures on decommissioning liability and changes in non-cash working capital, reduced for finance expense excluding accretion. Operating netback is calculated by adding natural gas and liquids sales with realized gains on derivatives and subtracting royalty expense, operating expense and transportation expense. Management believes that these financial measures are useful supplemental information to analyze operating performance and provide an indication of the results generated by the Corporation's principal business activities. Investors should be cautioned that these measures should not be construed as an alternative to net income or other measures of financial performance as determined in accordance with IFRS. Advantage's method of calculating these measures may differ from other companies, and accordingly, they may not be comparable to similar measures used by other companies. Please see the Corporation's most recent Management's Discussion and Analysis, which is available at www.sedar.com and www.advantageog.com for additional information about these financial measures.

References in this press release to short-term production rates are useful in confirming the presence of hydrocarbons, however such rates are not determinative of the rates at which such wells will commence production and decline thereafter and are not indicitative of long-term performance, or of ultimate recovery.  Additionally, some rates may also include recovered "load oil" fluids used in well completion stimulation.  While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production of Advantage.

This press release and, in particular the information in respect of the Corporation's expected 2017 operating costs, capital expenditures and total debt and operating netback, may contain future oriented financial information ("FOFI") within the meaning of applicable securities laws. The FOFI has been prepared by management to provide an outlook of the Corporation's activities and results and may not be appropriate for other purposes. The FOFI has been prepared based on a number of assumptions, including the assumptions discussed above, and assumptions with respect to the costs and expenditures to be incurred by the Corporation, capital equipment and operating costs, foreign exchange rates, taxation rates for the Corporation, general and administrative expenses and the prices to be paid for the Corporation's production. Management does not have firm commitments for all of the costs, expenditures, prices or other financial assumptions used to prepare the FOFI or assurance that such operating results will be achieved and, accordingly, the complete financial effects of all of those costs, expenditures, prices and operating results are not objectively determinable. The actual results of operations of the Corporation and the resulting financial results may vary from the amounts set forth herein, and such variations may be material. The Corporation and management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments. However, because this information is highly subjective and subject to numerous risks including the risks discussed above, it should not be relied on as necessarily indicative of future results. FOFI contained in this press release was made as of the date of this press release and the Corporation disclaims any intention or obligations to update or revise any FOFI contained in this press release, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law.

Certain financial and operating results included in this news release including production, operating costs, operating netback, capital expenditures and total debt including working capital are based on unaudited estimated results. These estimated results are subject to change upon completion of the Corporation's audited financial statements for the year ended December 31, 2017, and changes could be material. Advantage anticipates filing its audited financial statements and related management's discussion and analysis for the year ended December 31, 2017 on SEDAR on March 5, 2018.

The following abbreviations used in this press release have the meanings set forth below:

 

SOURCE Advantage Oil & Gas Ltd.