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June 2015 Corporate Presentation – Crescent Point Energy Corp.

Crescent Point Energy Corp. · Jun 17, 2015 · 26 slides

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Slides

  1. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 1
  2. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 2
    COMPANY SNAPSHOT: CPG (TSX AND NYSE) Market Capitalization 14.1 billion (496.2 million shares fully diluted)(1) Net Debt 3.9 billion(2) Enterprise Value 18.0 billion 2015 Average Production 162,500 boe/d (90% oil weighted)(3)…
  3. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 3
    LEGACY OIL + GAS INC. ACQUISITION HIGHLIGHTS 20,000 boe/d of production (82% liquids) 1,000 net sections of land (750 undeveloped) and 940 net locations with a high working interest of 75%(1) SE Saskatchewan / Manitoba…
  4. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 4
    THE CRESCENT POINT ADVANTAGE Proven Management Team Proven track record of reserves, production and cash flow growth 5-year weighted average F&D of 19.33 per 2P boe of reserves (2.6 times recycle ratio)(1) 10-year total shareholder…
  5. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 5
    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 potential…
  6. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 6
    HEDGING STRATEGY Total Oil Hedges(1) 80,000 55% 60% 70,000 2015 average floor price 87.50/bbl percent hedged 50% 60,000 2016 average floor price 83.00/bbl 31% 2017 average floor price 81.00 /bbl 40% 50,000 bbl/d 40,000…
  7. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 7
    PROVEN TRACK RECORD 200,000 Production Growth (boe/d) Funds Flow (MM) 3,000 160,000 2,500 120,000 2,000 1,500 80,000 1,000 40,000 500 0 0 (1) 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013…
  8. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 8
    FOCUSED GROWTH Strategic positions in four of the largest light to medium oil resource pools in Canada (including Viking)(1) Significant focus in Saskatchewan including the Canadian Bakken, which has OOIP 5.3 billion the…
  9. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 9
    VIEWFIELD BAKKEN Q1/15 production 62,000 boe/d CPG Stoughton Rail Terminal 4.6 billion barrels of original oil in place with recovery to date of 3.5%(1) 25-stage cemented liner completion technique has improved overall returns,…
  10. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 10
    VIEWFIELD BAKKEN TECHNOLOGY ADVANCEMENTS Viewfield Bakken Independent type well changes(1) Change in Ultimate Recoverable Reserves (MMboe) (Primary recovery) assigned by Independent Evaluators due to waterflood(2) % change since…
  11. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 11
    SHAUNAVON Q1/15 production 25,000 boe/d 17 years in drilling inventory(1) 5.3 billion barrels of original oil in place with recovery to date of 1.0%(2) Latest 25-stage cemented liner technology has improved production rates by up…
  12. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 12
    FLAT LAKE: TORQUAY (THREE FORKS) & BAKKEN Flat Lake core boundary Torquay edge USA border Flat Lake Torquay lands Viewfield Bakken and SE Saskatchewan conventional lands Recent discovery of 1 billion barrels of…
  13. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 13
    STEELMAN / PINTO MIDALE UNCONVENTIONAL Production 6,600 boe/d(1) 400 net locations(2) Large original oil in place with low recovery to date Attractive economics that compete with other top quartile shallow resource plays…
  14. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 14
    UINTA BASIN Multi-Zone Basin Ouray Valley Gusher Horseshoe Bend Rocky Point Randlett Aurora Blacktail Ridge Greater Monument Butte Lake Canyon Crescent Point Energy lands Q1/15 production 15,000 boe/d 1,300…
  15. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 15
    PER SHARE FOCUS Production per Share(1)(2) Reserves per Share(1)(4) 360 2 CAGR 6.7% CAGR 6.2% 320 1.75 280 1.5 240 1.25 200 1 2010 2011 2012 2013 2014 2015E 2010 2011 2012 2013 2014 2015 PF Integrated strategy of organic…
  16. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 16
    CREATING LONG-TERM VALUE FOR SHAREHOLDERS Growth + Dividend Strategy CPG Waterflood Technology M&A Base Business Expansion Initiatives Large OOIP resources Lower decline rates Increase recoveries and History of creating…
  17. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 17
    APPENDIX
  18. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 18
    MANAGING THE CURRENT ENVIRONMENT Reduce internal costs Partner with vendors to reduce costs CURRENT Improve drilling and capital efficiencies FOCUS Continue efficient allocation of capital with an appropriate drilling program…
  19. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 19
    BUILDING FREE CASH FLOW ASSETS Viewfield Bakken 1,600 600 Shaunavon 1,200 450 MM MM 800 300 400 150 0 (1) 0 (1) Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Development Capex Operating…
  20. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 20
    VIEWFIELD BAKKEN WATERFLOOD UNITIZATION Completed first unitization of Stoughton Unit 27 net sections in size 105 potential injection wells; 50% of conversions expected to be completed by year-end 2015 Leads to increased…
  21. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 21
    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…
  22. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 22
    IMPACT OF TECHNOLOGY IMPROVEMENTS Viewfield Bakken Fresh Water Usage Viewfield Bakken Drilling Progression Spud to Rig Release 900 16.00 800 Water (m3) per well 700 600 12.00 500 Days 400 300 8.00 200 100 0 4.00…
  23. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 23
    ACQUISITION HISTORY: RESERVES MORE THAN DOUBLED Initial 2P Estimated Current 2P Total 2P Increase in Reserves Production Reserves Reserves 2P Reserves % Increase Property (Mboe) (Mboe)(1) (Mboe)(1) (Mboe)(2) (Mboe)(3) in Reserves…
  24. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 24
    FUNDS FLOW IS A BETTER PROXY FOR PERFORMANCE Peer analysis solely on net income does not account for various non-cash charges such as Crescent Points hedging strategy Crescent Point Energy Corp. (millions) 2014A 2013A Net income 508.9…
  25. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 25
    DEFINITIONS 1. Original Oil In Place (OOIP) is equivalent to Discovered Petroleum Initially-In-Place (DPIIP). DPIIP, as defined in the Canadian Oil and Gas Evaluations Handbook (COGEH), is that quantity of petroleum that is estimated,…
  26. June 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 26
    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 & TRANSFER…

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