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 Q3 2016 production (average) 23,211 boe/d 2016 production range (forecast) Montney land position (3rd largest* NE BC holder) 2P gross reserves (YE 15) 23,000 - 25,000 boe/d 300,000 net…
Q3 2016 HIGHLIGHTS Production of 23,211 boe/d with production per share 35% over Q3 15 Record NE BC Montney production of 18,592 boe/d, 9% over Q2 16 and 92% over Q3 15 Funds from operations 44% over Q2 due to higher production,…
ENHANCED COMPLETIONS IMPROVING WELL RESULTS 165 potential drill locations Estimated in ultra liquids rich area 2 Upper Montney wells in Ultra Liquids Rich ultra liquids rich area at W. Septimus 40 stage fracture treatments and…
ENHANCED COMPLETIONS IMPROVING WELL RESULTS 2 new Upper Montney Lower B wells Doig AA at W. Septimus Completed with 1 tonne/metre sand loading nearly double A the initial sand loading at W. Septimus B Upper 4.1 mmcf/d per well…
DRIVING DOWN COSTS THROUGH ENHANCED OPERATING + CORPORATE EFFICIENCIES 20.00 18.00 37%Reduction in cash costs / boe 16.00 from Q3 14 to Q3 16 14.00 12.00 10.00 Per boe costs expected to 8.00 decline further with 6.00…
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 10…
MASSIVE LAND POSITION IN THE SWEET SPOT OF THE MONTNEY Only 11% of Crews 474 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 42 HZ Wells 72 HZ Wells 1 HZ Well 10 HZ Wells West Portage Groundbirch Attachie West Septimus Septimus Goose Tower Doig 5 23 1 AA Upper Montney 1 7 2 1 A 30…
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 Area Operators Tower Well Performance: Oil (mbbls) 185 185…
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…
CONTINUAL IMPROVEMENTS IN CAPITAL EFFICIENCIES Continuously improving capital efficiencies & recycle ratios across all reserves categories(1)(2) Production addition costs have been reduced 74% from early 2014 through 2016 Low…
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…
CREW MONTNEY SECURED TAKEAWAY Long-term transportation capacity and market planning facilitates growth Flatrock Three pipeline options running west, east and Goose south provide access to North American markets Attachie West…
ADVANTAGES OF GAS MARKET DIVERSITY 3.50 3.50 Commencement of Alliance Pipeline service and initiation of diversified contract portfolio 3.00 3.00 2.50 2.50 Natural Gas Prices (C/MCF) 2.00 2.00 1.50 1.50 Sumas,…
STABLE ASSET: LLOYDMINSTER HEAVY OIL Lloydminster ALBERTA SASKATCHEWAN Currently in sales process BRIGHTSAND Q3 operating netback of 13.41 / boe at SWIMMING LLOYD Lloydminster 41.02 / bbl WCS; offers significant torque to…
MONTNEY: JUST KEEPS GETTING BETTER Strong Balance Sheet +21% Production / Sh Growth 43% 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 24
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) 80 Capex 100 Hedging Summary as of November 3, 2016 Year-end bank debt (mm) 250 Volume Period Derivative Reference Price Debt to annualized Q4 CF 2.1x 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…
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