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May 2016 Corporate Presentation – Crew Energy Inc.

Crew Energy Inc. · May 11, 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. May 2016 Corporate Presentation – Crew Energy Inc. – slide 1
    MONTNEY: JUST KEEPS GETTING BETTER 111.7 474 TCFE TPIIP Net Sections in Resource the Montney +25% Production Growth in 2016
  2. May 2016 Corporate Presentation – Crew Energy Inc. – slide 2
    CREW CORPORATE SNAPSHOT OPERATING SUMMARY Q1 2016 production (average) 23,832 boe/d Forecast 2016 production range 23,000 - 25,000 boe/d Montney land position (4th largest NE BC holder) 474 net sections 2P gross reserves (YE 15)…
  3. May 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 385MM total debt capacity 111.7 TCFE TPIIP 4th largest…
  4. May 2016 Corporate Presentation – Crew Energy Inc. – slide 4
    Q1 2016 HIGHLIGHTS Demonstrated Operational Success in the Montney Production 25% year over year to 23,832 boe/d Natural gas pricing 15% over Q4 15 with Alliance transportation arrangement Operating costs per boe 30% year over year…
  5. May 2016 Corporate Presentation – Crew Energy Inc. – slide 5
    EXCEPTIONAL CAPITAL EFFICIENCIES + IMPROVING COST STRUCTURE Achieved strong capital efficiencies & recycle ratios across all reserves categories lowest 2P F&D / FD&A costs in company history(1)(2) Netbacks supported in challenging…
  6. May 2016 Corporate Presentation – Crew Energy Inc. – slide 6
    Its a World-Class Siltstone not a shale MONTNEY RESOURCE Reservoir is 1,000 feet thick Excellent reservoir continuity and fracability 7
  7. May 2016 Corporate Presentation – Crew Energy Inc. – slide 7
    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) -…
  8. May 2016 Corporate Presentation – Crew Energy Inc. – slide 8
    SUCCESSFUL EXECUTION Montney P+P Reserves Growth (MMBOE)(1) Growth in Resource & Reserves 300.0 Liquids mmbbls 250.0 Gas mboe 246.5 Montney Best Estimate 201.9 200.0 Economic Contingent Resource 150.0 9.0 TCFE(3) 100.0 99.2…
  9. May 2016 Corporate Presentation – Crew Energy Inc. – slide 9
    IN GOOD COMPANY: MASSIVE MONTNEY LAND POSITION AMONG KEY PRODUCERS Significant Area Operators Flatrock Goose Attachie West Septimus Portage Septimus Tower Groundbirch Source: RBC Capital Markets 10
  10. May 2016 Corporate Presentation – Crew Energy Inc. – slide 10
    EARLY STAGES: 53.1 NET SECTIONS (11%) HAVE UPPER MONTNEY RESERVES ASSIGNED 474 Total Net Sections 1.5 TCFE 2P Reserves Assigned 1.2 tcf Natural Gas 43.2 mmbbls NGLs 9.6 mmbbls Oil Montney Oil / Liquids rich natural gas / dry…
  11. May 2016 Corporate Presentation – Crew Energy Inc. – slide 11
    FIRM TAKEAWAY CAPACITY SECURED Long-term transportation capacity and market planning to facilitate growth opportunities Three pipeline options running West, East and South to reach Canadian and US markets Diversified natural gas…
  12. May 2016 Corporate Presentation – Crew Energy Inc. – slide 12
    ADVANTAGES OF GAS MARKET DIVERSITY Crews Gas Market Diversity Commencement of Alliance Pipeline service and May 1, 2016 3.00 Sumas, initiation of diversified contract portfolio WA Chicago 4% City Stn 2 4% 40% Gate 2.50 30%…
  13. May 2016 Corporate Presentation – Crew Energy Inc. – slide 13
    CREW MONTNEY STRATIGRAPHIC STACK 2 HZ Wells 2 HZ Wells 3 HZ Wells 37 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…
  14. May 2016 Corporate Presentation – Crew Energy Inc. – slide 14
    SEPTIMUS: EXCELLENT RETURNS & IMPROVING RECOVERIES 5.6 bcf EUR(1) per well 100% EUR(1) per well since 2010 SEPTIMUS: Increasing average 2P EUR(1) per Improved efficiencies have lead to 1 bcf of booked undeveloped location…
  15. May 2016 Corporate Presentation – Crew Energy Inc. – slide 15
    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 West Septimus Type Curve Comparison(2)(3) 8,000 Over pressured with…
  16. May 2016 Corporate Presentation – Crew Energy Inc. – slide 16
    Near to mid-term growth potential TOWER Crew Operated Pipeline Spectra Westcoast Pipelines 51 net sections Q4/14 wells Expanding Montney Light Oil Play Crew Septimus Crew 5,000 bopd oil facility facility Phase 1 Q4/2014…
  17. May 2016 Corporate Presentation – Crew Energy Inc. – slide 17
    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…
  18. May 2016 Corporate Presentation – Crew Energy Inc. – slide 18
    STABLE ASSET: LLOYDMINSTER HEAVY OIL Lloydminster ALBERTA SASKATCHEWAN Area offers low-risk funding source BRIGHTSAND SWIMMING LLOYD 86,283 net acres of land in the area; Lloydminster LOW LAKE FOREST BANK average WI of…
  19. May 2016 Corporate Presentation – Crew Energy Inc. – slide 19
    MONTNEY: JUST KEEPS GETTING BETTER ReservesAdditions +25% Production Growth 21% increase in PDP reserves/share(1) Forecast 2016 over 2015 Strong Balance Sheet 42% drawn on 235MM facility Access to Infrastructure Massive…
  20. May 2016 Corporate Presentation – Crew Energy Inc. – slide 20
    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:…
  21. May 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. May 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. May 2016 Corporate Presentation – Crew Energy Inc. – slide 23
    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%…
  24. May 2016 Corporate Presentation – Crew Energy Inc. – slide 24
    2016 CAPITAL PROGRAM AND BUDGET 2016 Cash Flow (CF) (mm) 70 CF/diluted share 0.49 Hedging Summary as of May 5, 2016 Capex 70 Volume Period Derivative Reference Price Year-end bank debt (mm) 238 Natural Gas Debt to annualized Q4…

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