CREW CORPORATE SNAPSHOT Montney-Focused Asset Base POSITIONED FOR SUCCESS TSX trading symbol CR Basic shares outstanding (mm) 141.0 Trading range (52 week) 3.40- 11.19 Montney Oil / Liquids rich Average daily trading volume (m)…
TICKING THE RIGHT BOXES Key Component Crews Position Focused asset base in a growing resource play: 110 TCFE TPIIP Montney resource in NE BC 474 net sections of Montney rights in NE BC (4th largest Large, contiguous and ideally…
World-Class Montney Resource 5
NEBC MONTNEY: A WORLD CLASS RESERVOIR 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…
SEPTIMUS: SWEET SPOT OF THE MONTNEY Crews 474 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 /…
GROWING MONTNEY ACREAGE Sharpens Focus Montney (2007) Montney (2010) Montney (2015) CREW ACREAGE BREAKDOWN: Oil/Condensate Sections: 138 Wet Gas Sections: 265 Dry Gas Sections: 71 Total Net Sections: 474 8
EARLY STAGES: 9% (41.6 NET SECTIONS) HAVE RESERVES ASSIGNED 1.0 TCF 2P reserves assigned Flatrock Goose Attachie West Septimus Portage Tower Crew Montney Well Tests Crew 2014 Drilled Location with No Reserves Assigned…
ABUNDANT & GROWING INFRASTRUCTURE Acreage is optimally situated to feed potential long term demand Multiple egress options diversify markets and mitigate risk Three pipeline options running West, East and South to reach Canadian,…
CREW MONTNEY STRATIGRAPHIC STACK 2 HZ Wells 2 HZ Wells 2 HZ Wells 25 HZ Wells 63 HZ Wells 1 HZ Well 10 HZ Wells West Portage Groundbirch Attachie West Septimus Septimus Goose Tower Doig 4 19 1 AA Upper Montney 1 7 2 1 A 20…
SEPTIMUS: EXCELLENT RETURNS & IMPROVING RECOVERIES 5.0 bcf EUR per well(1) 500 boe/d IP365(2) (3)(4) Septimus Type Wells 2,500 Cumulative Gas Prod. (mmcf) Improved efficiencies have lead to 1 bcf of 2,000 production in one…
60 mmcf/d plant with expansion WEST SEPTIMUS capability to 120 mmcf/d Continuation of Septimus Trend Step-out area - Montney expansion Over pressured with greater porosity, permeability and liquids than Septimus Up to 220 bbls…
TOWER Emerging Montney Light Oil Play 51 net sections First of several light oil, high netback areas in Crews portfolio to be developed Near to mid-term growth potential EURs(1)/well 203% to 440 mboe Crew Operated Pipeline Four…
Next Steps 16
GROUNDBIRCH Planned gas plant and pipeline infrastructure Delineation Area with Long-Term Upside supports area growth Proposed North Montney Mainline Offsetting vertical + horizontal development Spectra Westcoast Pipelines…
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 gas Crew 15-36 well 2013/14…
LLOYDMINSTER HEAVY OIL Lloydminster 50MM Disposition Closed Q3 15 ALBERTA SASKATCHEWAN Disposition included 225 boe/d BRIGHTSAND production, 1.0 mmboe 2P reserves and SWIMMING LLOYD Lloydminster 11,670 net acres of land LOW…
2015 SCORECARD SIGNIFICANT IMPROVEMENTS OVER 2014 Latest Montney results at W. Septimus: IPs 100% above type curve Drill times 22%, drilling & completion costs 20-25% in 2015 Drill 12 more wells and complete 5 more wells than planned…
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 Robert J. Morgan, Senior Vice President & COO Email:…
APPENDIX 22
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…
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,…
2015 CAPITAL PROGRAM AND BUDGET 2015 2014 Cash Flow (CF) (mm) 85 172 CF/diluted share 0.62 1.39 Hedging Summary as of September, 2015 Capex net of A & D (mm) 135 307 Volume Period Derivative Reference Price Well Count (net) 26.3…
NE BC MONTNEY RESOURCE EVALUATION Dec. 31, 2014 Apr. 30, 2014 Reserves and Economic Contingent Resources (1)(2)(3)(6)(7)(8) Best Estimate Best Estimate % Apr. 30, Dec. 31, 2014 2014 Natural Gas (Tcf) Reserves (3) 1.0 0.5 100%…
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…
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