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August 2015 Investor Presentation – Crescent Point Energy Corp.

Crescent Point Energy Corp. · Aug 10, 2015 · 26 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. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 1
    CORPORATE PRESENTATION August 2015
  2. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 2
    COMPANY SNAPSHOT: CPG (TSX AND NYSE) Market Capitalization 9.2 billion (504.9 million shares fully diluted)(1) Net Debt 4.1 billion(2) Enterprise Value 13.3 billion 2015 Average Production 163,500 boe/d (90% oil weighted)(3) Annual…
  3. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 3
    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…
  4. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 4
    H1 2015 HIGHLIGHTS Increased Q2 2015 production to more than 151,600 boe/d, up 10% year-over-year Realized 20% cost reductions in core plays compared to 2014 average costs Continued to advance emerging growth plays Uinta Basin -…
  5. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 5
    IMPROVING COSTS AND EFFICIENCIES Southeast Saskatchewan Drilling Day Rate versus WTI (1)(2) 21,000 120 21,000 110 19,000 18,205 Drill Rig Day Rate 100 WTI US/bbl) 17,000 90 13,440 15,000 80 13,000 70 11,000 60…
  6. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 6
    CURRENT MACRO ENVIRONMENT Oil Futures(1) 100 Maximum futures curve : 94 Jan to Aug, 2009 Less 90 opportunity to lock in 84 attractive Futures curve as at: hedges CDN WTI/bbl 80 June 30, 2015 versus 2009 downturn Recent…
  7. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 7
    REDUCED DIVIDEND AND SUSPENSION OF DRIP AND SDP 180% 2016E Total Payout Ratio(1) 140% Peer Average (excluding CPG) = 120% 100% 100% 60% (2) CPG revised Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer group…
  8. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 8
    15 BILLION INVENTORY DRIVES LONG-TERM GROWTH Percentage of Unbooked Inventory 55% Net Wells (Unbooked) Net Wells (Booked) % Unbooked 51% 56% 47% 73% Corporate Total Bakken / Three Forks Shaunavon Uinta Basin Other Emerging…
  9. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 9
    Payback period in months 5 months 10 months 15 months 20 months 25 months 30 months 35 months 40 months Viewfield Bakken 75-125 Viewfield Bakken 75-125 Current environment Midale Unconventional 164-171 10% reduction…
  10. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 10
    HEDGING STRATEGY 54% Total Oil Hedges(1) 80,000 60% 2015 average floor price CAD 88.00/bbl 70,000 2016 average floor price CAD 83.00/bbl 50% 60,000 32% 2017 average floor price CAD 81.00 /bbl Percent hedged 40% 50,000 40,000…
  11. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 11
    FOCUSED GROWTH Focused on high-quality, strategic large light to medium oil resource pools Significant focus in Saskatchewan, including the Canadian Bakken, which has the strongest break-even economics of any large, light oil play…
  12. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 12
    VIEWFIELD BAKKEN Q2/15 production 60,000 boe/d CPG Stoughton Rail Terminal 1,400 net locations(1) 4.6 billion barrels of original oil in place with recovery to date of 3.5%(1) 25-stage cemented liner completion technique has…
  13. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 13
    SHAUNAVON Q2/15 production 25,000 boe/d 1,800 net locations(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 to 20%…
  14. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 14
    FLAT LAKE: TORQUAY (THREE FORKS) & BAKKEN Q2/15 production 8,400 boe/d 460 net locations(1) 1 billion barrels of original oil in place with low recovery to date 290 net sections in the core boundary that continues to be expanded…
  15. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 15
    STEELMAN / PINTO MIDALE UNCONVENTIONAL Production 6,600 boe/d(1) 400 net locations(2) Large original oil in place with low recovery to date Advancing the application of horizontal drilling and completion technology Two…
  16. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 16
    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 Q2/15 production 15,000 boe/d 1,300…
  17. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 17
    SUMMARY 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) Excellent Balance Sheet Balance sheet strength…
  18. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 18
    APPENDIX
  19. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 19
    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…
  20. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 20
    PROVEN TRACK RECORD 200,000 Funds Flow (MM) Production Growth (boe/d) 3,000 160,000 2,500 2,000 120,000 1,500 80,000 1,000 40,000 500 0 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 (1)…
  21. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 21
    PER SHARE FOCUS Production per Share 2P Reserves per Share(1)(3) 2 360 CAGR 6.7% CAGR 6.1% 1.75 320 1.5 280 240 1.25 200 1 2010 2011 2012 2013 2014 2015E 2010 2011 2012 2013 2014 2015 PF Integrated strategy of…
  22. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 22
    ORGANIC VERSUS ACQUISITION GROWTH 160 2007 to 2014 2P Reserve Additions 140 Organic: 491 Mmboe(1) Acquired: 447 Mmboe 120 Reserve additions (Mmboe) 100 80 60 40 20 0 2007 2008 2009 2010 2011 2012 2013 2014…
  23. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 23
    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) (Secondary…
  24. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 24
    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…
  25. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 25
    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…
  26. August 2015 Investor Presentation – Crescent Point Energy Corp. – slide 26
    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…

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