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July 2016 Corporate Presentation – Crew Energy Inc.

Crew Energy Inc. · Jul 11, 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. July 2016 Corporate Presentation – Crew Energy Inc. – slide 1
    MONTNEY: JUST KEEPS GETTING BETTER 111.7 300,000 TCFE TPIIP Net Acres in Resource the Montney +25% Production Growth in 2016
  2. July 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 44% hedged Montney land position (4th largest NE BC holder) 300,000 net acres 2P gross…
  3. July 2016 Corporate Presentation – Crew Energy Inc. – slide 3
    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;…
  4. July 2016 Corporate Presentation – Crew Energy Inc. – slide 4
    Q1 2016 STANDOUT PERFORMANCE High Quality Montney Assets Support Strong Results Top Quartile Q1 Operating Netbacks (Pre-Hedging) Competitive Operating Costs Among Montney- Among Montney-Focused Peers (/boe) Focused Peers (/boe) 15…
  5. July 2016 Corporate Presentation – Crew Energy Inc. – slide 5
    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…
  6. July 2016 Corporate Presentation – Crew Energy Inc. – slide 6
    CREWS NEBC MONTNEY Low Costs + High IPs + EURs + Liquids = Sweet Spot of the Montney (Area 2) High IRR & EUR TD Focus Areas - Area 1 (Greater Town) Comparison of IRRs and EURs across Montney Focus Areas (1) - Area 2 (Greater…
  7. July 2016 Corporate Presentation – Crew Energy Inc. – slide 7
    MASSIVE LAND POSITION IN THE SWEET SPOT OF THE MONTNEY Source: RBC Capital Markets 8
  8. July 2016 Corporate Presentation – Crew Energy Inc. – slide 8
    GROWING MONTNEY RESOURCE 32% Increase NGL ECR in15 Total Petroleum Initially In Place (TPIIP) Economic Contingent Resource (Tcfe) (Tcfe, risked) 9.5 148.1 9.0 111.7 7.0 5.3 4.6 4.2 53.0 41.9 2.7 22.0 7.8 ARX CR…
  9. July 2016 Corporate Presentation – Crew Energy Inc. – slide 9
    EARLY STAGES: 53.1 NET SECTIONS (11%) HAVE UPPER MONTNEY RESERVES ASSIGNED 474 Total Net Sections Flatrock Montney Goose Oil / Liquids Rich Natural Gas / Dry Gas Attachie West Septimus Portage Tower Crew Acreage…
  10. July 2016 Corporate Presentation – Crew Energy Inc. – slide 10
    SUCCESSFUL EXECUTION DRIVES MONTNEY GROWTH P+P Reserves (MMBOE)(1) Best Estimate Economic Contingent Resource 300.0 Liquids mmbbls 246.5 250.0 Gas mboe 201.9 9.0 TCFE(3) 200.0 Liquids tcfe 8.3 TCFE(2)(3) Gas tcf 150.0 1.5 99.2…
  11. July 2016 Corporate Presentation – Crew Energy Inc. – slide 11
    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…
  12. July 2016 Corporate Presentation – Crew Energy Inc. – slide 12
    GREATER SEPTIMUS AREA High Quality Rock + Enhanced Completion Techniques = Increased Liquids, EURs and Returns Greater Septimus Septimus & W. Septimus are separated by the Pine River Crew is the only operator with pipe that spans…
  13. July 2016 Corporate Presentation – Crew Energy Inc. – slide 13
    GREATER SEPTIMUS EVOLUTION Increased Liquids Rates Drives Area Optimization Step-out development at West Septimus Outperformance of Initial West Septimus Type Curve(2)(3) identified over-pressured area with greater 9,000 porosity,…
  14. July 2016 Corporate Presentation – Crew Energy Inc. – slide 14
    TOWER OIL PLAY 51 net sections Expanding Montney Light Oil Play Near to mid-term growth potential Crew Operated Pipeline First of several light oil, high netback areas in Spectra Westcoast Pipelines Crews Montney portfolio to be…
  15. July 2016 Corporate Presentation – Crew Energy Inc. – slide 15
    ATTRACTIVE HALF-CYCLE TYPE WELL ECONOMICS Individual Well Well Capital Efficiency Identified NPV10 Payout Costs F&D (12 months prodn) Locations(1) (MM) (years) (MM) (/boe) (/boe/d) 48% SEPTIMUS 104 5.0 2.2 3.5 3.40 8,200 IRR(2)…
  16. July 2016 Corporate Presentation – Crew Energy Inc. – slide 16
    CREW MONTNEY SECURED TAKEAWAY Long-term transportation capacity and market planning facilitates growth Flatrock Goose Three pipeline options Attachie running west, east and West south provide access to Septimus North American…
  17. July 2016 Corporate Presentation – Crew Energy Inc. – slide 17
    ADVANTAGES OF GAS MARKET DIVERSITY Crews Gas Market Diversity May 1, 2016 Commencement of Alliance Pipeline service and Sumas, 3.00 initiation of diversified contract portfolio WA Chicago 4% City Stn 2 4% 40% Gate 2.50 30%…
  18. July 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. July 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 FOREST LOW LAKE average WI of 93.7%…
  20. July 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. July 2016 Corporate Presentation – Crew Energy Inc. – slide 21
    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…
  22. July 2016 Corporate Presentation – Crew Energy Inc. – slide 22
    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%…
  23. July 2016 Corporate Presentation – Crew Energy Inc. – slide 23
    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…
  24. July 2016 Corporate Presentation – Crew Energy Inc. – slide 24
    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…
  25. July 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. July 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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