MONTNEY: JUST KEEPS GETTING BETTER 111.7 300,000 TCFE TPIIP Net Acres in Resource the Montney +21% Production per Share Growth 2016 over 2015 (forecast)
CREW CORPORATE SNAPSHOT OPERATING SUMMARY 1H 2016 production (average) 22,890 boe/d 2016 production range (forecast) 23,000 - 25,000 boe/d Montney land position (3rd largest* NE BC holder) 300,000 net acres 2P gross reserves (YE…
Q2 2016 HIGHLIGHTS At 21,950 boe/d, production per share 23% year over year Operating costs per boe 31% year over year and 6% quarter over quarter to 6.04 / boe; Greater Septimus operating costs 9% from Q1 to 4.02 / boe All-in cash…
Q2 2016 STANDOUT PERFORMANCE High Quality Montney Assets Support Strong Results Top Quartile Operating Netbacks (Pre-Hedging) Top Quartile Operating Costs Among Montney- Among Montney-Focused Peers (/boe) Focused Peers (/boe) 20 11…
MASSIVE LAND POSITION IN THE SWEET SPOT OF THE MONTNEY Only 11% of Crews 472 net sections have Significant Area Operators Upper Montney reserves assigned Crew Energy Inc. Pengrowth Energy Arc Resources Penn West Petroleum Broker…
GROWING MONTNEY RESOURCE 32% Increase NGL ECR in15 Total Petroleum Initially In Place (TPIIP) Economic Contingent Resource (Tcfe) (Tcfe, Best Estimate Risked) 148.1 9.0 Liquids Natural Gas 111.7 Resource (tcfe) 7.0…
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…
SEPTIMUS AREA Economics(1): 104 100% Full Cycle Half Cycle Identified Locations(2) EUR(5) per well since 2010 Capital Expenditures (MM) 4.3 3.5 1 Month IP (boe/d) 809 809 Septimus Type Wells(3)(4)(5) Oil (mbbls) 0 0 2,500…
WEST SEPTIMUS Economics(1): 512 Identified Locations(2) Condensate - Rich Full Cycle Half Cycle Up to 220 bbl/mmcf(3) Capital Expenditures (MM) 4.3 3.5 1 Month IP (boe/d) 1,036 1,036 Outperformance of Initial West Septimus Type…
TOWER OIL PLAY Economics(1): Full Cycle Half Cycle 127 Identified Locations(2) High - Netback Light, sweet oil Capital Expenditures (MM) 6.1 5.2 1 Month IP (boe/d) 586 586 140000 Newer Wells Modified Completions Oil (mbbls) 185…
LOWER MONTNEY: MULTIPLE PROSPECTIVE ZONES Attachie Septimus Groundbirch Sunrise Tower Doe 90+ Wells A A 3 Lower Montney Zones Goose Attachie 90+ Crew Lower Montney Well Locations in Greater Septimus A Lower Montney Crew…
NEXT GROWTH PHASE GROUNDBIRCH ATTACHIE 99,563 net acres (156 net sections) 62,202 net acres (97 net sections) Delineation area with long-term upside Successful pilot wells prove resource with several prolific offsetting producers in…
CONTINUAL IMPROVEMENTS IN CAPITAL EFFICIENCIES Continuously improving capital efficiencies & recycle ratios across all reserves categories(1)(2) Production addition costs have been reduced 70% from early 2014 through 2016 Low…
DRIVING DOWN CASH COSTS THROUGH ENHANCED OPERATING + CORPORATE EFFICIENCIES 32% 18 16 Reduction in cash costs / boe 14 from Q3 14 to Q2 16 12 10% Interest: Secure lowest cost financing options at all points in cycle. 10 45%…
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…
ADVANTAGES OF GAS MARKET DIVERSITY 3.50 Crews Gas Market Diversity September, 2016 Commencement of Alliance Pipeline service and initiation of diversified contract portfolio Sumas, Chicago 3.00 WA 4% City Stn 2 4% 40% Gate…
STABLE ASSET: LLOYDMINSTER HEAVY OIL Lloydminster ALBERTA SASKATCHEWAN Currently in sales process BRIGHTSAND Q2 operating netback of 15.77 / boe, SWIMMING LLOYD Lloydminster 700% over Q1, with opex down to 16.44 / FOREST LOW…
MONTNEY: JUST KEEPS GETTING BETTER Strong Balance Sheet +21% Production / Sh Growth 41% drawn on 235MM facility Forecast 2016 over 2015 Access to Infrastructure Existing and growing Massive Resource Per Share Reserves Growth…
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:…
APPENDIX 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%…
2016 CAPITAL PROGRAM AND FORECAST 2016 Cash Flow (CF) (mm) 75 Capex 70 Hedging Summary as of September 6, 2016 Year-end bank debt (mm) 233 Volume Period Derivative Reference Price Debt to annualized Q4 CF 2.3x Natural Gas…
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…
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…
111.7 World-Class TCFE TPIIP Resource MONTNEY RESOURCE +21% Production per Share Growth 2016 over 2015 (forecast) 300,000 Net Acres in the Montney 31
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