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  Economics : Rates of Return/ IRR

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Economics by Play Corporate Presentation 55 WTI Economics Type Well (EUR) NPV 10% IRR Payout Williston Basin Cost per well (MM) (mbbl) (MM) (%) (months) Viewfield Bakken 50 125 1.4 0.4 3.4 33 239 24 9 Viewfield Bakken Waterflood 350 1.4 5.7 267 7 Flat Lake Torquay 100 175 2.4 1.6 3.8 57 - 126 17 12 Flat Lake Conventional Ratcliffe 75 1.2 1.4 90 14 North Dakota (US) 600 5.4 3.6 42 23 SE Saskatchewan Conventional 40 60 1.0 0.5 1.0 34 64 30 19 SW Saskatchewan Resource Play Type Well (EUR) NPV 10% IRR Payout Cost per well (MM) (mbbl) (MM) (%) (months) Shaunavon 80 130 1.5 0.7 1.7 42 113 21 11 Shaunavon Waterflood 264 1.5 2.4 53 20 Viking 41 54 0.9 0.4 0.7 32 50 29 21 Type Well (EUR) NPV 10% IRR Payout Crescent Point Energy Uinta Basin Cost per well (MM) (mbbl) (MM) (%) (months) Castle Peak (1-mile & 2-mile Hz) (US) 350 620 5.5 - 8.5 1.6 4.9 27 64 30 14 Wasatch (1-mile Hz) (US) 490 540 6.0 - 7.0 2.4 4.1 34 76 24 12 All figures are approximates and in CAD unless otherwise noted Capital costs per well include drilling, completion, equipment and tie-in expenditures Economics by play represent type wells expected to be drilled in 2018 program 31
Crescent Point Energy Corp.
January 2018

Uinta Economics Single Well Economics IRR Sensitivity Reserve Size 120 150 200 MBO MBO MBO Well Cost Economics based on 1.7MM/well 1.9 12% 24% 40% (MM) 1.7 18% 33% 52% 1.5 29% 45% 70% Economics at 50/Bbl Realized Payout for a 150 MBO well at 1.7MM = 30 months Ultra Petroleum Corp. NASDAQ: UPL 28
Ultra Petroleum Corp.
September 2017

Updated Type Well Economics Drilling locations with <40/Bbl break-even prices Wolfcamp Eagle Ford Altamont Average lateral length 8,500 8,500 5,700 N/A Well spacing (acres) 150 150 40 60 80 -160 Distance between wells (feet) 770 770 330 500 IP 30 (Boe/d) 722 639 1,068 408 IP 30 (Bo/d) 534 475 772 335 Gross EUR (MBoe) 750 550 505 500 % Liquids 80% 72% 78% 75% Gross well costs (MM) 4.5 4.4 4.0 4.2 Break-even pricing (/Bbl)1 25.75 38.00 34.75 35.00 Average WI % 100% 97% 85% 70% Average NRI2 75% 73% 63% 59% Gross drilling locations 1,096 1,586 650 918 Assuming 55 (WTI) / 3.00 (HH) Pre-Tax IRR 57% 22% 58% 30% Pre-tax NPV (MM) 4.9 1.5 2.3 2.0 Assuming 65 (WTI) / 3.50 (HH) Pre-Tax IRR 72% 29% 99% 44% Pre-tax NPV (MM) 5.9 2.2 3.6 3.1 1 Break-even oil price (WTI) required to generate a 10 percent pre-tax IRR using latest well costs and 3.00 per MMBtu (HH). 2 Wolfcamp NRI does not include royalty relief according to sliding scale agreement; whereas economics do include royalty relief. 32
EP Energy Corp
June 2017

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