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APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc.

Crew Energy Inc. · Apr 6, 2015 · 33 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 1
    CORPORATE PRESENTATION April, 2015 SHARPENING OUR FOCUS
  2. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 2
    INVESTMENT HIGHLIGHTS MONTNEY FOCUS LONG-TERM GROWTH Exposure to world-class Massive resource in early Montney resource (109 TCFE) stages of development (1.0 TCFE 2P reserves booked) Large, contiguous land base (487 net sections)…
  3. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 3
    CORPORATE SNAPSHOT TSX:CR TSX trading symbol CR Basic shares outstanding (mm) 140.1 Trading range (52 week) 4.73 - 12.74 Average daily trading volume (m) 1,157 Market capitalization 4.75/sh (mm) 665 Enterprise value (mm) 824…
  4. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 4
    2014: A TRANSFORMATIONAL YEAR 2014 Highlights Sold 10,600 boe per day of Alberta assets for 372MM plus 400 bbl/d heavy oil Increased B.C. production by 44% to 14,900 boe per day Increased resource estimate by 30% to 109 TCFE TPIIP1…
  5. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 5
    2014 RESERVES Highlights 362% 2P reserves replacement 12% increase in 2P reserves after selling 83MM boe 25% increase in debt adjusted reserves per share Crew P+P Reserve Growth 250000 9.64 2P F&D costs including future…
  6. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 6
    2015 CAPITAL BUDGET HIGHLIGHTS 185MM Maintain Balance Sheet Strength with Montney Growth Complete & tie-in 12 wells at W. Septimus & tie-in 2 wells at Groundbirch, 1 at Attachie Drill and complete 8 new wells at Septimus & drill 2…
  7. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 7
    World-Class Montney Resource 8
  8. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 8
    NEBC MONTNEY: A GLOBALLY COMPETITIVE PLAY Not a shale: Its a siltstone Montney Competitive Attributes: Exceptionally thick: up to 1,000 feet Permeability 20-80 times greater than comparable resource plays in North America Excellent…
  9. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 9
    SEPTIMUS: SWEET SPOT OF THE MONTNEY Crews 487 sections of land are situated in the sweet spot of the play (Area 4) 1 MONTNEY SUB-GROUP REGIONS Altares/Caribou/Farrell/Kobes/Town/ Highest IRR & IP30 at Parkland / Septimus /…
  10. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 10
    GROWING MONTNEY ACREAGE Sharpens Focus Montney (2007) Montney (2010) Montney (2015) CREW ACREAGE BREAKDOWN: Oil/Condensate Sections: 138 Wet Gas Sections: 239 Dry Gas Sections: 110 Total Sections: 487 11
  11. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 11
    SUCCESSFUL EXECUTION Montney P+P Reserves Growth (MMBOE) Growth in Resource & Reserves 250.0 Liquids mmbbls Gas mboe 201.9 200.0 Montney Resource Estimate 150.0 99.2 100.0 120 Liquids tcfe 48.1 109 TCFE 46.7 Gas tcf 50.0…
  12. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 12
    MONTNEY RESERVES: EARLY STAGES 9% OF MONTNEY LAND HAS RESERVES ASSIGNED Flatrock Goose Attachie Portage Septimus Tower Groundbirch Crew Montney Well Tests Crew 2014 Drilled Unbooked Location Sproule 2014 Yearend…
  13. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 13
    Crew Montney ABUNDANT AND Lands GROWING Proposed STN 2 INFRASTRUCTURE Canadian LNG Ports AECO Gas Acreage is optimally situated to Kingsvale Storage Hub feed potential long term demand Spectra P/L Multiple egress…
  14. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 14
    ACREAGE PROXIMAL TO INFRASTRUCTURE Multiple infrastructure options Flatrock and growing processing capacity Goose Attachie Portage Tower Groundbirch Septimus Crew Operated Pipeline Proposed North Montney Mainline…
  15. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 15
    CREW MONTNEY STRATIGRAPHIC STACK West Portage Groundbirch Attachie West Septimus Septimus Goose Tower Doig 3 19 1 AA Upper Montney 2 7 2 1 A 11 41 1 1 B 3 2 C 1,000 Feet Lower Montney Monias High of Crew…
  16. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 16
    SEPTIMUS Initial Montney Development Area Active drilling and development program Adoption of new technology 62 wells drilled to date Crew Operated Pipeline Existing 60 mmcf/d gas plant Spectra Westcoast Pipelines…
  17. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 17
    SEPTIMUS: EXCELLENT RETURNS & IMPROVING EURs 5.0 bcf EUR per well 500 boe/d IP365 Attractive well economics at current commodity Septimus Type Wells 2,500 price levels CDN2.50/gj gas and US50 WTI Cumulative Gas Prod.…
  18. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 18
    WEST SEPTIMUS Greater porosity, permeability and liquids than Septimus Continuation of Septimus Trend Step-out area - Montney expansion Over pressured area with proven 00/8-22 liquids-rich gas Up to 220 bbls condensate / mmcf…
  19. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 19
    TOWER Emerging Montney Light Oil Play 51 net sections Near to mid-term growth potential First of several light oil weighted areas in Crews portfolio to be developed EURs/well 175% to 440 mboe Light oil/condensate support higher…
  20. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 20
    TOWER Light Oil/Condensate Supports Higher Netbacks 12-15 wells / section drilling plan Able to benefit from industry experience to optimize efficiencies Adoption of new technology will reduce costs + enhance performance…
  21. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 21
    Montney Next Steps: Future Growth 22
  22. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 22
    NEXT STEPS: GROUNDBIRCH Planned gas plant and pipeline infrastructure supports area growth Delineation Area with Long-Term Upside Offsetting vertical + horizontal development Over-pressured with liquids-rich natural gas Large pay…
  23. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 23
    NEXT STEPS: ATTACHIE Proof of Concept Stage Excellent test rates from Several prolific offsetting producers in Upper and Lower Montney exploration wells Crew 10-22 well Over-pressured with liquids-rich natural Crew 15-36 well…
  24. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 24
    Lloydminster Heavy Oil Low-Risk Funding Source 25
  25. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 25
    LLOYDMINSTER HEAVY OIL Lloydminster ALBERTA SASKATCHEWAN Production 4,500-5,000 boe/d BRIGHTSAND Low capex and strong capital SWIMMING LLOYD efficiencies drive stable production Lloydminster LOW LAKE FOREST 97,219 net acres…
  26. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 26
    UNIQUE INVESTMENT OPPORTUNITY MONTNEY FOCUS 4th largest Montney land owner in B.C. Estimated 109 TCFE TPIIP Resource offers significant long-term growth potential Expanding NGL rich gas at Septimus and W. Septimus with emerging…
  27. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 27
    Contact Info: Dale O. Shwed, President & CEO Suite 800, 250 - 5th Street SW John G. Leach, Senior Vice President & CFO Calgary, Alberta T2P 0R4 Telephone: (403) 266-2088 Rob J. Morgan, Senior Vice President & COO Email:…
  28. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 28
    APPENDIX 29
  29. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 29
    COMPARATIVE ECONOMICS: MONTNEY VS OTHER NORTH AMERICAN RESOURCE PLAYS Montney half-cycle per-well economics are strong and comparable to many key US shale plays even when including prevailing FX / basis 70% Illustrative half cycle…
  30. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 30
    SEPTIMUS MONTNEY: SWEET SPOT OF THE BASIN EQUALS LEADING ECONOMICS Montney Well Economics by Area Capex / well IP 30 Recovery Liquids Yield BTax IRR BTax NPV Fields (mm) (mmcf/d) (bcfe) (bbl/mmcf) 8.5% (mm) Area 4 Parkland,…
  31. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 31
    2015 CAPITAL PROGRAM AND BUDGET 2015 2014 Cash Flow (CF) (mm) 89 172 CF/diluted share 0.64 1.39 2015 Hedging Summary E&D Capex (mm) 185 307 Volume Period Derivative Reference Price Well Count (net) 10 73 Natural Gas 33,781 GJ/Day…
  32. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 32
    RESERVES SUMMARY 2014 2013 % Proved plus probable (mmboe) 220 197 12% Per share (mboe/mmshares) 1,786 1,622 10% Per debt adjusted share (mboe/mmshares) 1,330 1,063 25% Proved (mmboe) 107 115 (7%) Per share (mboe/mmshares) 863 947…
  33. APRIL 2015 CORPORATE PRESENTATION – Crew Energy Inc. – slide 33
    NE BC MONTNEY RESOURCE EVALUATION Natural Gas Resource Categories (1)(2)(3) Tcf Reserves and Contingent Resources (1)(2)(3)(6)(7) Best Estimate Total Petroleum Initially In Place (TPIIP) 60.6 Natural Gas (Tcf) Discovered Petroleum…

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