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Corporate Presentation – Crescent Point Energy Corp.

Crescent Point Energy Corp. · Jun 30, 2014 · 22 slides

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Slides

  1. Corporate Presentation – Crescent Point Energy Corp. – slide 1
    CORPORATE PRESENTATION June 2014
  2. Corporate Presentation – Crescent Point Energy Corp. – slide 2
    POLAR STAR VIKING CONSOLIDATION 2,800 boe/d of nearly 100% oil weighted production (99% operated) Netback of approximately 85.00/boe(1) 52 million/yr in free cash flow(2) Tax pools of 334 million Reduce 2015 all-in payout ratio by…
  3. Corporate Presentation – Crescent Point Energy Corp. – slide 3
    UPWARDLY REVISED GUIDANCE 2014 average production guidance of 135,500 boe/d (90% oil weighted) Exit production guidance of 148,000 boe/d 2014 funds flow from operations of 2.45 billion (5.90/share diluted)(1)(2) Forecast operating…
  4. Corporate Presentation – Crescent Point Energy Corp. – slide 4
    TSX: CPG NYSE: CPG 2014 Exit Production: 148,000 boe/d (90% oil weighted)(1) 2014 Funds Flow: 5.90/share(2)(3) Netback: 59.00/boe(2)(4) Yield: 6.3%(5) Annual Dividend: 2.76/share Payout Ratio: 47%(2) Market Capitalization: 18.6…
  5. Corporate Presentation – Crescent Point Energy Corp. – slide 5
    BUSINESS STRATEGY Develop and exploit Increase recovery factors through infill drilling, waterflood optimization and improved technology Acquire Focus on high-quality, large resource-in-place pools with production and reserves…
  6. Corporate Presentation – Crescent Point Energy Corp. – slide 6
    HEDGING STRATEGY 64% Total Oil Hedges 70,000 70% 60,000 60% 50,000 34% 50% Provide greater stability bbl/day 40,000 40% 19% to dividends 30,000 30% 20,000 20% 4% 10,000 - 10% 0% 70,000 bbl/d of rail Q2 14 Q3 14 Q4 14…
  7. Corporate Presentation – Crescent Point Energy Corp. – slide 7
    FOCUSED GROWTH 18 billion bbls OOIP(1) Low recovery to date of 2.8% 7,650 high quality drilling locations(2) Potential to increase reserves by 800 Mmbbls through increasing recovery factor(3) Cemented liner technology Lower…
  8. Corporate Presentation – Crescent Point Energy Corp. – slide 8
    UPSIDE POTENTIAL OF LARGE OIL IN PLACE Potential Reserves(3) Independent Analog Pools (Net Incremental to OOIP(1) Recovery Recovery Recovery P+P Reserves Play (Mmbbls) to Date Factor P+P(2) Factor Mmbbls) Bakken 4,600 2.9% 10.1%…
  9. Corporate Presentation – Crescent Point Energy Corp. – slide 9
    INVENTORY FOR THE LONG TERM 1,000,000 boe/d of production additions if current inventory drilled today (2) 1,000,000 (1) 7,650 Low risk/high rates of return Potential to increase from infill drilling and advancing (5)…
  10. Corporate Presentation – Crescent Point Energy Corp. – slide 10
    CREATING VALUE BY ADVANCING TECHNOLOGY Value per well more than doubled: 3.3MM to 10.1MM Well EUR(2) NPV10(1) ROR(1) Completion Type Count (mbbl) (M) (%) 250 Historical Completions (3 TWP Area in Viewfield Core)(3) Surgifrac…
  11. Corporate Presentation – Crescent Point Energy Corp. – slide 11
    VALUE CREATION: BAKKEN Bakken Waterflood Value Creation (B) Combined Purchase Price 2.8 Total Capital Spent to Date(1) 2.9 Total Cost(1) 5.7 Total Cash Flow to Date(1) 4.6 Current P+P NPV10%(2)(3) 7.3 Total Value at…
  12. Corporate Presentation – Crescent Point Energy Corp. – slide 12
    HIGH-QUALITY ASSETS 3-year avg reserves per share growth + dividend yield = 13%(1) Original Oil In Place (Mmbbls) Historical P+P Reserves (Mmboe) 800 20,000 16,000 600 12,000 400 8,000 200 4,000 0 0 2001 2002 2003…
  13. Corporate Presentation – Crescent Point Energy Corp. – slide 13
    PROVEN TRACK RECORD 3-year avg production per share growth + dividend yield = 13%(1) Drilling inventory (net wells) 10,000 Forecast 2014 exit of 148,000 boe/d(2) 8,000 Top quartile netback of 59.00/boe(3) 6,000 4,000 90% oil…
  14. Corporate Presentation – Crescent Point Energy Corp. – slide 14
    BUILDING CASH FLOW STRENGTH 3-year avg funds flow per share growth + dividend yield = 20%(1) 90% Payout Ratio - Diluted 2,800 Funds Flow (billions) 80% 2,400 70% 2,000 1,600 60% 1,200 50% 800 40% 2004 2005 2006…
  15. Corporate Presentation – Crescent Point Energy Corp. – slide 15
    SUMMARY Proven management team Proven track record of reserves, production and cash flow growth 5-year weighted average F&D of 17.9(1) Excellent balance sheet 3-year hedging program to provide cash flow stability Balance sheet…
  16. Corporate Presentation – Crescent Point Energy Corp. – slide 16
    APPENDIX
  17. Corporate Presentation – Crescent Point Energy Corp. – slide 17
    VIEWFIELD BAKKEN OIL RESOURCE PLAY 1,700 net locations in drilling inventory(1) 25-stage cemented liner completion technique is reducing water consumption by up to 45% per well and lowering declines 4.6 billion bbls OOIP with…
  18. Corporate Presentation – Crescent Point Energy Corp. – slide 18
    SHAUNAVON OIL RESOURCE PLAY 1,800 net locations in drilling inventory(1) 25 stage cemented liner technology from Bakken being implemented in Shaunavon 5.3 billion bbls OOIP with 0.8% recovered to date(2) 600 gross wells on…
  19. Corporate Presentation – Crescent Point Energy Corp. – slide 19
    UINTA BASIN OIL RESOURCE PLAY Uinta Basin future drilling locations Crescent Point Lands Randlett Vertical Type Well Economics(5): Production Production 1,000 net locations identified on Crescent Point (bbl/d) (bbl/d) Type…
  20. Corporate Presentation – Crescent Point Energy Corp. – slide 20
    LOW RISK/HIGH RETURN INVENTORY Potential Risked per TotalCapital(1) TotalReserves(2) Production Rate Risked F&D Producing Area Net Wells (MM) (Mboe) (boe/d)(3) (/boe) boe(3) Resource Plays Bakken/Three Forks 2,904 10,170 437,144…
  21. Corporate Presentation – Crescent Point Energy Corp. – slide 21
    ACQUISITION HISTORY: RESERVES MORE THAN DOUBLED Initial P+P Estimated Current P+P Total P+P Reserves Production Reserves Reserves Increase in P+P % Increase in Property (Mboe) (Mboe)(1) (Mboe)(1)(2) (Mboe)(1) Reserves (Mboe)…
  22. Corporate Presentation – Crescent Point Energy Corp. – slide 22
    8 BILLION OF VALUE CREATED Total Gain (Cash Current P+P Total Cash flow + flow + P+P Purchase Capital Spent Total Cost Total Cash Flow NPV10% P+P NPV10% NPV10 Cost) Property Price (M)(1) (M)(1) (M)(1) to Date (M)(1) (M)(1)(2)(3)…

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