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CORPORATE PRESENTATION – Crescent Point Energy Corp.

Crescent Point Energy Corp. · Oct 1, 2014 · 30 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. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 1
    CORPORATE PRESENTATION October 2014
  2. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 2
    COMPANY SNAPSHOT: CPG (TSX AND NYSE) Market Capitalization: 17.9 billion (444.6 million shares fully diluted)(1) Net Debt: 2.8 billion(2) Enterprise Value: 20.7 billion 2014 Exit Production: 155,000 boe/d (90% oil weighted)(3) Q4/14…
  3. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 3
    KEY MESSAGES Proven track record of delivering growth and income Growing high-netback production and cash flow on a per share basis World-class assets with a large drilling inventory of high-return wells coupled with the…
  4. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 4
    BUSINESS STRATEGY Develop and Exploit Increase recovery factors through step-out and infill drilling, waterflood optimization and improved technology Acquire Focus on high-quality, large resource-in-place pools with the…
  5. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 5
    PROVEN TRACK RECORD 160,000 3,000 Funds Flow (millions) Production (boe/d) 2,500 120,000 2,000 80,000 1,500 1,000 40,000 500 0 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014E 2004 2005…
  6. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 6
    NEAR TERM FOCUS Cash Flow per Share Production per Share 7.00 CAGR 13.5% + 360 CAGR 6.5% + Dividend Yield Dividend Yield 6.00 320 5.00 4.00 280 3.00 240 2.00 1.00 200 (1) (1) 2010 2011 2012 2013 2010…
  7. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 7
    BUILDING CASH FLOW STRENGTH ORGANICALLY 2013A 2014E(8) 2013-2018 2018 Target CAGR % (excl. waterfloods and future acquisitions)(7)(9) Production (boe/d) 120,288 140,000 10.7% 200,000 Cash Flow ( Billions)(1) 2.0 2.6(2) 16.5% 4.3…
  8. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 8
    INDUSTRY LEADING NETBACKS 2014E Netbacks Peer Comparison (CAD/boe) 80.00 70.00 60.00 50.00 40.00 30.00 20.00 10.00 0.00 US US CPG US Canada US US US Canada Canada US Canada US Canada US US Industry…
  9. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 9
    FOCUSED GROWTH Strategic positions in four of the top seven medium to light oil resource pools in Canada(1) Largest player in the OOIP 5.3 billion Canadian Bakken, the barrels second largest light oil pool in OOIP 4.6…
  10. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 10
    HIGH RETURN ASSET BASE IRR Rankings for Major Canadian and US Light to Medium Oil Plays (1) 1st 2nd 3rd CPG Core Areas 4th 5th 6th 7th 8th 9th 10th 11th 12th Positioned in high economic plays of significant size…
  11. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 11
    CAPITAL ALLOCATION: FOCUSED ASSET BASE Play Type Well (EURs)(1) Rate of Return (%)(1) % of 2014 Drilling Capital Budget Viewfield Horizontal (EUR 75 250 mbbls) 100 to 800 30 Shaunavon Horizontal (EUR 84 168 mbbls) 54 to 174 22…
  12. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 12
    18 BILLION INVENTORY DRIVES LONG-TERM GROWTH Potential Total First Month Risked Finding & Risked per Capital(1) Total Reserves(2) Production Rate Development Cost Producing Area Net Wells (MM) (Mboe) (boe/d)(3) (/boe) (4) boe(3)…
  13. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 13
    PIONEER IN ADVANCING NEW TECHNOLOGY 2008 - 2009 2010 - 2012 2013 - 2014 Completed first cemented liner in the Bakken Expanded waterflood area within the core of the Became the largest driller of horizontal wells in oil resource…
  14. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 14
    TECHNOLOGY + PATIENCE CREATES VALUE Technology has shown to be a significant value creator over time Rewarded for a patient drilling strategy, which is supported by our dividend plus growth model In-house technology expertise…
  15. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 15
    CASE STUDY: VIEWFIELD BAKKEN 7.2 billion of value created since entering the play in early 2007(1) Increased P+P reserves by 223% since initial entry(2) Reduced decline rates by up to 10% in waterflood-affected areas compared to areas…
  16. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 16
    TRANSFER OF KNOWLEDGE Viewfield Shaunavon Uinta Basin Flat Lake Initial Year of Entry Early 2007 Early 2009 Late 2012 Mid 2013 Q2/14 Production (boe/d) 61,000 23,000 13,000 6,000 2013 Cash Flow ( millions) 1,216 329 151 55 (1)…
  17. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 17
    UINTA BASIN SIGNIFICANT OPPORTUNITY 5,000 ft Mahogany Garden Gulch Douglas Creek Identified four additional zones for Black Shale horizontal drilling with similar potential Castle Peak Uteland Butte Recent successful…
  18. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 18
    FLAT LAKE: TORQUAY (THREE FORKS) & BAKKEN Crescent Point Energy lands Recently acquired lands as part of a 99.1 million acquisition Bakken wells Torquay wells Consolidated area, bringing total Production growth in six…
  19. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 19
    SUMMARY Continue lowering payout ratio by building cash flow on a per-share basis World-class assets with large drilling inventory of high netback, high return wells with waterflood upside Focused growth strategy and allocation of…
  20. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 20
    APPENDIX
  21. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 21
    SIGNIFICANT INFRASTRUCTURE Infrastructure investments Crescent Point owns and operates: support efficient long-term growth 62.5 mmcf/d of gas processing of production and reserves capacity; 540 oil batteries; Since 2006, 1.3 billion…
  22. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 22
    FEE LAND OWNERSHIP Net Acres Production Volume(1) Cash Flow(2) Peer Multiples(3) Implied Valuation Range(4) 277,500 700 boe/d 20 million 10x-20x 200-400 million CRESCENT POINT ENERGY CORPORATE PRESENTATION FOOTNOTES INCLUDED IN…
  23. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 23
    HEDGING STRATEGY Total Oil Hedges 70,000 61% 70% 60,000 60% 50,000 37% 50% Actively hedging 3 years bbl/day 40,000 40% into the future 21% 30,000 30% 20,000 4% 20% 10,000 10% Provides greater stability to - 0% dividends…
  24. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 24
    IMPACT OF TECHNOLOGY IMPROVEMENTS Fresh Water Usage per well 16 Drilling Progression Spud to Rig Release 900 750 12 600 Days Water (m3) 450 8 300 4 150 0 0 2009 2010 2011 2012 2013 2007 2008 2009 2010 2011 2012…
  25. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 25
    VIEWFIELD BAKKEN OIL RESOURCE PLAY VIEWFIELD BAKKEN 2014 Q2 Production (net): 61,000 boe/d 2014E Capital (net)(1): 523 MM 2014E Wells (net)(1): 195 Netback (YTD average)(2): 68.00 Type Curve EUR/well (Mbbls)(3): 75 250 NPV10%(4)…
  26. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 26
    SHAUNAVON OIL RESOURCE PLAY SHAUNAVON 2014 Q2 Production (net): 23,000 boe/d 2014E Capital (net)(1): 437 MM 2014E Wells (net)(1): 150 Netback (YTD average)(2): 57.00 Type Curve EUR/well (Mbbls)(3): 84 168 NPV10%(4) 1.8 MM - 4.1…
  27. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 27
    UINTA BASIN OIL RESOURCE PLAY UINTA BASIN 2014 Q2 Production (net): 13,000 boe/d (current is 13,800 boe/d) 2014E Capital (net)(1): C267 MM 2014E Wells (net)(1): 84 Netback (YTD average)(2): C43.00 Type Curve (Vertical) 100 170…
  28. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 28
    FLAT LAKE OIL RESOURCE PLAY FLAT LAKE 2014 Q2 Production (net): 6,000 boe/d 2014E Capital (net)(1): 314 MM 2014E Wells (net)(1): 57 Netback (YTD average)(2): 73.00 Type Curve EUR/well (Mbbls)(3): 125 275 NPV10%(4) 2.6 MM - 10.0…
  29. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 29
    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)…
  30. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 30
    www.crescentpointenergy.com BANKER Bank of Nova Scotia AUDITOR PricewaterhouseCoopers LLP LEGAL COUNSEL Norton Rose Fulbright Canada LLP EVALUATION ENGINEERS GLJ Petroleum Consultants Ltd Sproule Associates Ltd REGISTRAR &…

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