ARC Resources (ARX) Investor Presentation summary

Corporate overview and financial highlights

• Premium Montney asset exposure with 597 million shares outstanding and $14.1 billion market cap as of July 2024.

• Net debt stands at $1.5 billion, with an enterprise value of $15.6 billion.

• Quarterly dividend is $0.17 per share, yielding 2.9%.

• Production averages ~355 Mboe/d, positioning as a leading Montney and condensate producer.

Strategic asset base and inventory

• Over 1,500 Montney sections and ~5,000 drilling locations, with 80% unbooked.

• More than 20 years of inventory, concentrated in over-pressured, liquids-rich fairways.

• 10 to 25 years of sustaining inventory at 500-600 Mboe/d across key assets.

• Deep inventory at the low end of the cost curve; 50% of inventory has supply cost below C$0/Mcf.

Attachie project development

• Attachie Phase I nearing completion: plant, liquids terminal, and pipelines 90% finished.

• 90% of wells drilled on six start-up pads; all to be drilled by end of October.

• Drilling and completions efficiency improved, with >50% increase in metres drilled per day and ~15% cost reduction.

• Over 80% produced water used for frac operations, reducing freshwater dependence.

• High conviction on Attachie Phase II, with regulatory, financial, and commercial progress.