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June 2016 Corporate Presentation – Crew Energy Inc.

Crew Energy Inc. · Jun 30, 2016 · 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. June 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. June 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. June 2016 Corporate Presentation – Crew Energy Inc. – slide 3
    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…
  4. June 2016 Corporate Presentation – Crew Energy Inc. – slide 4
    GROWING MONTNEY RESOURCE 32% Increase NGL ECR in15 Total Petroleum Initially In Place (TPIIP) Economic Contingent Resource (Tcfe) (Tcfe, risked) 148.1 9.5 9.0 111.7 7.0 5.3 4.6 4.2 53.0 41.9 2.7 22.0 7.8 ARX CR…
  5. June 2016 Corporate Presentation – Crew Energy Inc. – slide 5
    Q1 2016 HIGHLIGHTS 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 and 6% quarter over quarter to 6.45 / boe;…
  6. June 2016 Corporate Presentation – Crew Energy Inc. – slide 6
    Q1 2016 STANDOUT PERFORMANCE High Quality Montney Assets Support Strong Results Top Quartile Q1 Montney Operating Netbacks Competitive Montney Operating Costs 18 (/boe) Pre-Hedging (/boe) 15 16 14 14 12 12 11 9.26 9.13 9…
  7. June 2016 Corporate Presentation – Crew Energy Inc. – slide 7
    Its a Siltstone World-Class not a shale Reservoir is MONTNEY RESOURCE 1,000 feet thick Excellent Reservoir continuity and fracability Strong Massive Montney Commodity Access to Balance Sheet Resource Optionality…
  8. June 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. June 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 246.5 250.0 Gas mboe Montney Best Estimate 201.9 200.0 Economic Contingent Resource 150.0 9.0 TCFE(3) 99.2 Liquids…
  10. June 2016 Corporate Presentation – Crew Energy Inc. – slide 10
    MASSIVE MONTNEY LAND POSITION IN THE SWEET SPOT OF THE PLAY Significant Area Operators Flatrock Goose Attachie West Septimus Portage Septimus Tower Groundbirch Source: RBC Capital Markets 11
  11. June 2016 Corporate Presentation – Crew Energy Inc. – slide 11
    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…
  12. June 2016 Corporate Presentation – Crew Energy Inc. – slide 12
    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…
  13. June 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. June 2016 Corporate Presentation – Crew Energy Inc. – slide 14
    ADVANTAGES OF GAS MARKET DIVERSITY Crews Gas Market Diversity May 1, 2016 3.00 Commencement of Alliance Pipeline service and Sumas, initiation of diversified contract portfolio WA Chicago 4% City Stn 2 4% 40% Gate 2.50 30%…
  15. June 2016 Corporate Presentation – Crew Energy Inc. – slide 15
    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…
  16. June 2016 Corporate Presentation – Crew Energy Inc. – slide 16
    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) Over pressured with greater…
  17. June 2016 Corporate Presentation – Crew Energy Inc. – slide 17
    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…
  18. June 2016 Corporate Presentation – Crew Energy Inc. – slide 18
    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…
  19. June 2016 Corporate Presentation – Crew Energy Inc. – slide 19
    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…
  20. June 2016 Corporate Presentation – Crew Energy Inc. – slide 20
    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…
  21. June 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. June 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. June 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. June 2016 Corporate Presentation – Crew Energy Inc. – slide 24
    2016 CAPITAL PROGRAM AND FORECAST 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…
  25. June 2016 Corporate Presentation – Crew Energy Inc. – slide 25
    NE BC MONTNEY RESOURCE EVALUATION Dec. 31, Dec. 31, Reserves and Risked and Unrisked Economic Contingent Chance of Best Estimate Best Estimate 2015 2014 Resource (1)(2)(3)(6)(7)(8) Development Unrisked Risked Conventional Natural Gas…
  26. June 2016 Corporate Presentation – Crew Energy Inc. – slide 26
    NE BC MONTNEY RESOURCE EVALUATION, CONTINUED Chance of Best Estimate Best Estimate Prospective Resources (1)(2)(3)(4)(5)(6)(7) Commerciality Unrisked Risked Conventional Natural Gas (Tcf) 65% 10,225 6,695 NGL (MMbbl) 65% 354 231…

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