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October 2015 Investor Presentation – Crescent Point Energy Corp.

Crescent Point Energy Corp. · Oct 5, 2015 · 27 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. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 1
    Crescent Point Energy is one of Canadas largest light and medium oil producers, focused on its significant resource base in the Bakken, Shaunavon, Flat Lake Torquay and Midale plays in Saskatchewan, Canada, as well as the Uinta Basin in…
  2. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 2
    HIGH-QUALITY, LOW COST PRODUCER: CPG (TSX AND NYSE) Market Capitalization 7.7 billion (504.9 million shares fully diluted)(1) Net Debt* 4.1 billion (incl. hedged USD denominated debt) Enterprise Value 11.8 billion 2015 Average…
  3. October 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. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 4
    COST FOCUSED Southeast Saskatchewan Drilling Day Rate versus WTI 21,000 120 21,000 110 19,000 18,205 Drill Rig Day Rate 100 WTI US/bbl 17,000 WTI 90 15,000 69 80 70 13,000 13,440 60 11,000 10,992 50 9,000 WTI 40…
  5. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 5
    HIGH-RETURN ASSET BASE Type Well Payouts by Play August 21st Futures Strip - 2016 WTI US46.13 US/Cdn0.76 exchange 72 Additional 10% 13% Rate cost reduction of Return 60 Additional 20% cost reduction Payout (Months) 48…
  6. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 6
    STRATEGIC ASSET BASE WITH STRONG ECONOMICS 180 Viewfield Bakken Infill Type Well (75 mbbls EUR) Comparison Viewfield North Dakota 160 140 Land Majority crown Majority freehold 120 Production (boe/d) Crown holiday, No…
  7. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 7
    EFFICIENT ALLOCATION OF CAPITAL % of 2015 Half-Cycle Capital Corporate 2015 Budget: 2015 Capital Efficiency Inventory Inventory Key Focus Areas Net Well Count Budget (/boe/d)(5) (net locations) In Years Viewfield 181 25% 16,000…
  8. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 8
    FLEXIBLE CAPITAL SCENARIOS US40/bbl WTI US60/bbl WTI US/Cdn0.74 exchange US/Cdn0.76 exchange 2016 Capital Expenditure Scenarios 1.05 Billion 1.20 Billion 1.20 Billion 1.35 Billion Average Production (boe/d) 165-167,000 169-171,000…
  9. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 9
    HEDGING STRATEGY 54% Total Oil Hedges 80,000 60% 2015 average floor price CAD 88.00/bbl 70,000 2016 average floor price CAD 83.00/bbl 50% 60,000 2017 average floor price CAD 81.00 /bbl Percent hedged 33% 40% 50,000 40,000…
  10. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 10
    FOCUSED GROWTH WITH LARGE OIL IN PLACE 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…
  11. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 11
    VIEWFIELD BAKKEN Q2/15 production 60,000 boe/d CPG Stoughton Rail Terminal 1,400 net locations 4.6 billion barrels of original oil in place with recovery to date of 3.5% 25-stage cemented liner completion technique has improved…
  12. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 12
    VIEWFIELD BAKKEN WATERFLOOD Viewfield Primary Infill Type Well Viewfield Waterflood Offset Well (100 mbbls EUR)(6) EURs 3x greater versus primary(7) 160 160 140 140 120 120 NPV 10% (August 21st Strip US/Cdn0.76 exchange) NPV…
  13. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 13
    SHAUNAVON Q2/15 production 25,000 boe/d 1,800 net locations 5.3 billion barrels of original oil in place with recovery to date of 1.0% Latest 25-stage cemented liner technology has improved production rates by up to 20% versus…
  14. October 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 billion barrels of original oil in place with low recovery to date 290 net sections in the core boundary which continues to be expanded…
  15. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 15
    STEELMAN / PINTO - MIDALE UNCONVENTIONAL Production 6,600 boe/d 400 net locations Large original oil in place with low recovery to date Advancing the application of horizontal drilling and completion technology Two waterflood…
  16. October 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 1,400…
  17. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 17
    SUMMARY Proven Management Team Proven track record of per share 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)(8) Cost focused producer with strong…
  18. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 18
    CREATING LONG-TERM VALUE FOR SHAREHOLDERS Growth + Dividend Strategy CPG Waterflood Technology M&A Base Business Expansion Initiatives Large OOIP resources with low Lower decline rates and Increase recoveries and capital…
  19. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 19
    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 2004…
  20. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 20
    PER SHARE FOCUS Production per Share (fully diluted) 2P Reserves per Share (fully diluted) 2 360 CAGR 6.7% CAGR 6.1% + Dividend Yield + Dividend Yield 1.75 320 1.5 280 240 1.25 200 1 2010 2011 2012 2013 2014 2015E 2010…
  21. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 21
    ORGANIC VERSUS ACQUISITION GROWTH 160 2007 to 2014 2P Reserve Additions 140 Organic: 491 Mmboe(9) Acquired: 447 Mmboe 120 Reserve additions (Mmboe) 100 80 60 40 20 0 2007 2008 2009 2010 2011 2012 2013 2014…
  22. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 22
    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 Canada oil…
  23. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 23
    VIEWFIELD BAKKEN TECHNOLOGY ADVANCEMENTS Viewfield Bakken Independent type well changes(10) Change in Ultimate Recoverable Reserves (MMboe) (Primary recovery 3 twp core) assigned by Independent Evaluators due to waterflood(11)…
  24. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 24
    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…
  25. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 25
    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) (Mboe) (Mboe) (Mboe) in Reserves Sounding Lake…
  26. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 26
    BALANCE SHEET STRENGTH Bank credit facility = 3.6 Billion Senior Guaranteed Notes Maturity Schedule 250 200 Million CAD 42% 150 100 50 0 Less than 1 year 1 - 3 Years 3 - 5 Years Unutilized credit capacity…
  27. October 2015 Investor Presentation – Crescent Point Energy Corp. – slide 27
    LARGE UNBOOKED INVENTORY Remaining Unbooked Internally Identified Key Focus Areas Total Net locations Proved Locations Probable Locations Locations Viewfield Bakken 1,400 703 152 545 Shaunavon 1,800 568 225 1,007 Flat Lake 460 61…

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