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Q3 2016 Corporate Presentation – Crescent Point Energy Corp.

Crescent Point Energy Corp. · Nov 10, 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. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 1
    Crescent Point Energy Corporate Presentation November 2016 Crescent Point Energy is one of Canadas largest light and medium oil producers, based in Calgary, Alberta. 15 YEARS OF SUCCESS The Company is focused on growing its…
  2. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 2
    HIGH-QUALITY, LOW-COST PRODUCER Strategic Asset Base TSX: CPG NYSE: CPG:US Largest Canadian producer in Williston Basin (Top 5 including US producers) 2016 Average Production 167,000 boe/d Experienced Operators 2016 Capital…
  3. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 3
    BUSINESS STRATEGY: PRINCIPALS OF SUCCESS Develop and Enhance Assets Increase recovery factors through step-out and infill drilling, waterflood optimization and improved technology Acquire Focus on high-quality, large…
  4. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 4
    COMMODITY HEDGING STRATEGY Current Oil Hedges 2016 Q4 Average: 2017 H1 Average: 2017 H2 Average: 44% 32% 18% 60,000 90.00 50,000 80.00 40,000 CAD bbl/d 30,000 70.00 20,000 60.00 10,000 0 50.00 Q4 16 Q1 17 Q2…
  5. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 5
    2016 VALUE CREATION AND EXECUTION Expanded Flat Lake inventory by 520 net locations, or 70%, through step-out drilling and acquisition5 Williston Consolidated 67 net sections in Flat Lake through land sales and consolidation…
  6. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 6
    HISTORY OF SUCCESS Production Growth (boe/d) Production per Share 200,000 400 Resource capture phase 160,000 Production per Share 300 Boe/d 120,000 200 80,000 100 40,000 0 0 2007 2008 2009 2010 2011 2012 2013…
  7. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 7
    FOCUSED GROWTH Southwest Saskatchewan 23 Billion Barrels of OOIP Williston Basin 940,000 net acres 2.3 million net acres Southwest 35,000 boe/d 100,000 boe/d Saskatchewan Williston Basin OOIP Viking 7.8 billion OOIP barrels…
  8. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 8
    SIGNIFICANT GROWTH POTENTIAL SUPPORTED BY STRONG WELL ECONOMICS Large Drilling Inventory and Drilling Program Significant OOIP with Low Recovery to Date Supported by Quick Payouts Williston Basin: Viewfield Bakken Net Years of…
  9. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 9
    PRELIMINARY 2017 BUDGET Preliminary 2017 Budget - 1.4 billion 177,000 boe/d 8% Growth 175,000 boe/d 5% Growth 164,000 to 166,000 boe/d 2016 Exit 2017 Exit Increased Q4 2016 growth capital by 150 million 2017…
  10. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 10
    WILLISTON BASIN: EXPANSION OF THE FLAT LAKE AREA Increased drilling locations and strategic position in the play in 2016: Step-out program: generated over 220 new net locations in the Viewfield Bakken Torquay, Midale and Ratcliffe…
  11. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 11
    UINTA BASIN ADVANCING HORIZONTAL PROGRAM Most active horizontal driller during 2016 Ouray Increased knowledge (seismic, core samples, well logs) Results outperforming expectations Valley Gusher 9 horizontal wells now planned for…
  12. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 12
    LONG-TERM STRATEGY OF DEVELOPING A RESOURCE PLAY: VIEWFIELD BAKKEN EXAMPLE Primary and Infill Development Initiated drilling program in 2007 with over 2,100 horizontal wells drilled to date in the play 1,200 net drilling locations…
  13. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 13
    SUMMARY Proven Management Team Proven track record of per share reserves, production and cash flow growth 5-year weighted average F&D of 20.39 per 2P boe of reserves (2.2 times recycle ratio)14 6% production per share CAGR plus 7%…
  14. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 14
    APPENDIX 15
  15. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 15
    BALANCE SHEET STRENGTH Debt Composition (CAD) as of September 30, 2016 Net Debt to Funds Flow from Operations 4.0x 3.0x 1.7B 1.9B Senior Unutilized 2.0x Guaranteed Credit Notes* Capacity 1.0x 1.7B Drawn on Bank 0.0x Credit…
  16. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 16
    IMPROVING CAPITAL AND OPERATING COSTS Viewfield Bakken Flat Lake 12 440 18 Capital cost per Metre Capital cost per Metre 500 Drilling Days Drilling Days 9 360 14 400 6 280 10 300 200 3 200 6 2011 2012 2013…
  17. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 17
    INDUSTRY-LEADING CASH NETBACKS Cash Netbacks US30 WTI (Excluding Hedging Gains) 15.00 CPG Canadian Peers Cash Netbacks /boe 10.00 USA Peers Saskatchewan Focused 5.00 - Source: Macquarie Capital Markets Canada Ltd.…
  18. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 18
    ECONOMICS BY PLAY Type Well Cost per NPV Rate of Return Payout Area (mbbl EUR) well (M) 10% (M) (%) (months) Williston Basin (Viewfield) 75 - 125 1.3 1.2 to 2.9 81 to 286 8 to 15 Williston Basin (Flat Lake Torquay) 150 - 225 2.4…
  19. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 19
    CREATING LONG-TERM VALUE FOR SHAREHOLDERS Growth + Dividend Strategy CPG Waterflood Technology M&A Base Business Expansion Initiatives Large OOIP resources with low Lower decline rates and Increase recoveries and capital…
  20. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 20
    FAVOURABLE WATERFLOOD RESERVOIRS Low Mobility Ratios Enhance Waterflood Oil Recovery Horizontal Waterflood Comparison Tight Oil Total Affected Unconventional Waterflood Pilot Resource Plays Province E&P Companies Production (bbl/d)…
  21. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 21
    ACQUISITION HISTORY: RESERVES MORE THAN DOUBLED Initial 2P Estimated Current 2P Total 2P Increase in Reserves Production Reserves Reserves 2P Reserves % Increase Property (Mboe) (Mboe) (Mboe) (Mboe) (Mboe) in Reserves Sounding Lake…
  22. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 22
    IMPACT OF TECHNOLOGY IMPROVEMENTS Viewfield Bakken Fresh Water Usage Viewfield Bakken 900 Drilling Progression Spud to Rig Release 16.00 800 700 12.00 600 Water (m3) 500 Days 400 8.00 300 200 4.00 100 0 0.00 2009…
  23. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 23
    INDUSTRY-LOW G&A G&A as a % of Netback 20% 44% lower G&A G&A as a percentage of netback (as a percentage of netback) in comparison to peers 15% 10% 5% 0% 2015 CPG 2015 PEER AVG Crescent Point Energy G&A/boe…
  24. Q3 2016 Corporate Presentation – Crescent Point Energy Corp. – slide 24
    COMPANY INFORMATION BANKER Bank of Nova Scotia AUDITOR PricewaterhouseCoopers LLP LEGAL COUNSEL Norton Rose Fulbright Canada LLP GLJ Petroleum Consultants Ltd EVALUATION ENGINEERS Sproule Associates Ltd REGISTRAR & TRANSFER…

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