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March 2016 Corporate Presentation – Crew Energy Inc.

Crew Energy Inc. · Mar 7, 2016 · 24 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. March 2016 Corporate Presentation – Crew Energy Inc. – slide 1
    MONTNEY: JUST KEEPS GETTING BETTER 110 474 TCFE TPIIP Net Sections in Resource the Montney +25% Production Growth in 2016
  2. March 2016 Corporate Presentation – Crew Energy Inc. – slide 2
    CREW CORPORATE SNAPSHOT OPERATING SUMMARY 2015 Reserves by Product 2015 production (Annual average) 18,542 boe/d 4% Forecast 2016 production range 23,000 - 25,000 boe/d 4% Montney land position (4th largest NE BC holder) 474 net…
  3. March 2016 Corporate Presentation – Crew Energy Inc. – slide 3
    MONTNEY: JUST KEEPS GETTING BETTER 21% Growth PDP Reserves per Share YoY(1) Strong Massive Montney Commodity Access to Balance Sheet Resource Optionality Infrastructure 400MM total debt capacity 110 TCFE TPIIP 4th largest…
  4. March 2016 Corporate Presentation – Crew Energy Inc. – slide 4
    2015 HIGHLIGHTS AND ACHIEVEMENTS Demonstrated Operational Success in the Montney Production increased 23% to 20,706 boe/d in Q4 15 compared to Q3 15 Commissioned new 60 mmcf/d gas processing facility Reduced drilling, completion…
  5. March 2016 Corporate Presentation – Crew Energy Inc. – slide 5
    2015 YEAR END RESERVES SUMMARY Strong Montney Reserves Growth Through Drilling Success Total Reserves 2015 Change 2015 Change 2015 Reserves (mmboe) (after production) per debt adjusted share Replacement 2P: 260.6 21% 10%…
  6. March 2016 Corporate Presentation – Crew Energy Inc. – slide 6
    EXCEPTIONAL CAPITAL EFFICIENCIES + IMPROVING WELL PERFORMANCE Achieved strong capital efficiencies & recycle ratios across all reserves categories lowest 2P F&D / FD&A costs in company history(1)(2) Continued to increase average 2P…
  7. March 2016 Corporate Presentation – Crew Energy Inc. – slide 7
    Its a World-Class Siltstone not a shale MONTNEY RESOURCE Reservoir is 1,000 thick Excellent fracability 20-80x greater permeability 8
  8. March 2016 Corporate Presentation – Crew Energy Inc. – slide 8
    SEPTIMUS: SWEET SPOT OF THE MONTNEY Crews 474 sections of land are situated in the sweet spot of the play (Area 2) High IRR & EUR TD Focus Areas - Area 1 (Greater Town) Comparison of IRRs and EURs across Montney Focus Areas (1) -…
  9. March 2016 Corporate Presentation – Crew Energy Inc. – slide 9
    SUCCESSFUL EXECUTION Montney P+P Reserves Growth (MMBOE)(1) Growth in Resource & Reserves 300.0 Liquids mmbbls 250.0 Gas mboe 246.5 201.9 Montney Best Estimate 200.0 Economic Contingent Resource 150.0 99.2 100.0 Liquids tcfe…
  10. March 2016 Corporate Presentation – Crew Energy Inc. – slide 10
    EARLY STAGES: 53.1 NET SECTIONS (11%) HAVE UPPER MONTNEY RESERVES ASSIGNED Flatrock CREW ACREAGE BREAKDOWN: Oil/Condensate Sections: 138 Goose Wet Gas Sections: 265 Dry Gas Sections: 71 Attachie Total Net Sections: 474 West 1.5…
  11. March 2016 Corporate Presentation – Crew Energy Inc. – slide 11
    FIRM TAKEAWAY CAPACITY SECURED Acreage ideally situated with multiple egress options to diversify markets and mitigate risk Long-term transportation capacity and market planning to facilitate growth opportunities Three pipeline…
  12. March 2016 Corporate Presentation – Crew Energy Inc. – slide 12
    CREW MONTNEY STRATIGRAPHIC STACK 2 HZ Wells 2 HZ Wells 2 HZ Wells 34 HZ Wells 69 HZ Wells 1 HZ Well 10 HZ Wells West Portage Groundbirch Attachie West Septimus Septimus Goose Tower Doig 5 22 1 AA Upper Montney 1 7 2 1 A 27…
  13. March 2016 Corporate Presentation – Crew Energy Inc. – slide 13
    SEPTIMUS: EXCELLENT RETURNS & IMPROVING RECOVERIES 5.6 bcf EUR(1) per well 100% EUR(1) per well since 2010 Septimus Well Performance(3)(4)(5) 5,000 Improved efficiencies have lead to 1 bcf of 4,500 4,000 production in one year…
  14. March 2016 Corporate Presentation – Crew Energy Inc. – slide 14
    60 mmcf/d plant with expansion capability to 120 mmcf/d WEST SEPTIMUS Better Rock with Higher Liquids = Exceptional Returns Step-out area - Montney expansion Over pressured with greater porosity, permeability West Septimus Type…
  15. March 2016 Corporate Presentation – Crew Energy Inc. – slide 15
    Near to mid-term growth potential TOWER Crew Operated Pipeline Spectra Westcoast Pipelines 51 net sections Expanding Montney Light Oil Play Q4/14 wells Crew Septimus First of several light oil, high netback areas in facility…
  16. March 2016 Corporate Presentation – Crew Energy Inc. – slide 16
    NEXT GROWTH PHASE GROUNDBIRCH ATTACHIE Delineation area with long-term upside Successful pilot wells prove resource with several prolific offsetting producers in Upper and Lower Montney Over-pressured area with exceptionally…
  17. March 2016 Corporate Presentation – Crew Energy Inc. – slide 17
    STABLE ASSET: LLOYDMINSTER HEAVY OIL Lloydminster ALBERTA SASKATCHEWAN 50MM Disposition Closed Q3 15 BRIGHTSAND Disposition included 225 boe/d production, SWIMMING LLOYD 1.0 mmboe 2P reserves and 11,670 net Lloydminster LOW…
  18. March 2016 Corporate Presentation – Crew Energy Inc. – slide 18
    MONTNEY: JUST KEEPS GETTING BETTER ReservesAdditions +25% Production Growth 21% increase in PDP reserves/share(1) Forecast 2016 over 2015 Strong Balance Sheet 34% drawn on 250MM facility Access to Infrastructure Massive…
  19. March 2016 Corporate Presentation – Crew Energy Inc. – slide 19
    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:…
  20. March 2016 Corporate Presentation – Crew Energy Inc. – slide 20
    APPENDIX 21
  21. March 2016 Corporate Presentation – Crew Energy Inc. – slide 21
    NEBC MONTNEY: A GLOBALLY COMPETITIVE PLAY 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…
  22. March 2016 Corporate Presentation – Crew Energy Inc. – slide 22
    SEPTIMUS MONTNEY: SWEET SPOT OF THE BASIN EQUALS LEADING ECONOMICS TD Montney Well Economics by Focus Area British Columbia Alberta Greater Pouce Greater Town Greater Septimus Greater Swan Coupe Greater Kakwa Greater Kaybob…
  23. March 2016 Corporate Presentation – Crew Energy Inc. – slide 23
    2016 CAPITAL PROGRAM AND BUDGET 2016 Cash Flow (CF) (mm) 72 CF/diluted share 0.50 Hedging Summary as of March 3, 2016 Capex 70 Volume Period Derivative Reference Price Year-end bank debt (mm) 237 Natural Gas Debt to annualized…
  24. March 2016 Corporate Presentation – Crew Energy Inc. – slide 24
    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 % Natural Gas (Tcf) Dec. 31, 2014 Apr. 30, 2014 Reserves (3) 1.2 1.0 20%…

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