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December 2016 Corporate Presentation – Crew Energy Inc.

Crew Energy Inc. · Dec 9, 2016 · 25 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. December 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 +21% Production per Share Growth 2016 over 2015 (forecast)
  2. December 2016 Corporate Presentation – Crew Energy Inc. – slide 2
    CREW ENERGY OVERVIEW Large, contiguous land base in NE BC Montney of over 300,000 net acres with access to liquids-rich natural gas and light oil Crews The largest hydrocarbon resource accumulations in our peer group Montney Acreage…
  3. December 2016 Corporate Presentation – Crew Energy Inc. – slide 3
    CAPITAL STRUCTURE SNAPSHOT MARKET SUMMARY (TSX: CR) as at Dec. 9 16 Basic shares outstanding (mm) Trading range (52 week) 145.0 2.65 - 8.10 39% hedged On forecast 2017 gas Average daily trading volume (m) 878 sales at 3.09/mcf…
  4. December 2016 Corporate Presentation – Crew Energy Inc. – slide 4
    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…
  5. December 2016 Corporate Presentation – Crew Energy Inc. – slide 5
    SUCCESSFUL EXECUTION DRIVES MONTNEY GROWTH Montney Production (BOE/D) Best Estimate Economic Contingent Resource (ECR) 21,000 Forecast Light oil bopd 9.0 TCFE(3) 18,000 NGLs boepd Liquids tcfe 8.3 TCFE(2)(3) Gas boepd 1.5 15,000…
  6. December 2016 Corporate Presentation – Crew Energy Inc. – slide 6
    CONTINUAL IMPROVEMENTS IN CAPITAL EFFICIENCIES On-stream Costs - 90 Day Average IP ( per boe/d) Declining Drilling Days Reduces Costs 18,000 Enhanced completions 20 16,000 + lower costs = Improving Efficiencies 14,000 31%…
  7. December 2016 Corporate Presentation – Crew Energy Inc. – slide 7
    RISING NETBACKS & LOWER COSTS 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) 16…
  8. December 2016 Corporate Presentation – Crew Energy Inc. – slide 8
    CREW MONTNEY STRATIGRAPHIC STACK 2 HZ Wells 2 HZ Wells 3 HZ Wells 45 HZ Wells 75 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 31…
  9. December 2016 Corporate Presentation – Crew Energy Inc. – slide 9
    SEPTIMUS: FREE CASH FLOW GENERATION Economics(1): Full Cycle Half Cycle 104 75 MM Free cash flow Identified Locations(2) generated 16 19(3) Capital Expenditures (MM) 4.3 3.5 1 Month IP (boe/d) 809 809 100 Oil (mbbls) 0 0 Free cash…
  10. December 2016 Corporate Presentation – Crew Energy Inc. – slide 10
    WEST SEPTIMUS Economics(1): 512 Identified Locations(2) Condensate - Rich Up to 220 bbl/mmcf(3) Full Cycle Half Cycle Capital Expenditures (MM) 4.3 3.5 Outperformance of Initial 1 Month IP (boe/d) 1,036 1,036 West Septimus Type…
  11. December 2016 Corporate Presentation – Crew Energy Inc. – slide 11
    ENHANCED COMPLETIONS AT WEST SEPTIMUS Ultra Liquids-Rich Area Ultra Liquids-Rich 2 Upper Montney wells drilled & completed with 40 stage fracture treatments + higher sand loading (2 tonnes/metre) Attractive D & C costs of 3.8MM per…
  12. December 2016 Corporate Presentation – Crew Energy Inc. – slide 12
    TOWER OIL 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: Previous vs. Current…
  13. December 2016 Corporate Presentation – Crew Energy Inc. – slide 13
    FUTURE GROWTH OPPORTUNITIES Over-pressured, liquids-rich natural gas areas ATTACHIE 90+ Lower Montney locations at Greater Septimus 1,000 thick pay (Upper + Lower Montney) Several prolific offsetting producers in 97net sections…
  14. December 2016 Corporate Presentation – Crew Energy Inc. – slide 14
    SECURED LONG TERM TRANSPORTATION Long-term transportation capacity and market planning facilitates growth to 60,000 boe/d Flatrock Three pipeline options running west, east and Goose south provide access to North American markets…
  15. December 2016 Corporate Presentation – Crew Energy Inc. – slide 15
    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 Chicago Stn…
  16. December 2016 Corporate Presentation – Crew Energy Inc. – slide 16
    COMMITMENT TO LONG TERM VALUE CREATION Crew ranks in the top quartile on three year total shareholder return (TSR) 150% 3-Year TSR 100% 28.5% Three year TSR (1) 64.4% One year TSR (1)(2) 50% Crew 0% -50% (1)…
  17. December 2016 Corporate Presentation – Crew Energy Inc. – slide 17
    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…
  18. December 2016 Corporate Presentation – Crew Energy Inc. – slide 18
    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:…
  19. December 2016 Corporate Presentation – Crew Energy Inc. – slide 19
    APPENDIX 20
  20. December 2016 Corporate Presentation – Crew Energy Inc. – slide 20
    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…
  21. December 2016 Corporate Presentation – Crew Energy Inc. – slide 21
    DRIVING DOWN COSTS THROUGH ENHANCED OPERATING + CORPORATE EFFICIENCIES 37% 20.00 18.00 16.00 Reduction in cash costs / boe from Q3 14 to Q3 16 14.00 12.00 10.00 Per boe costs expected to 8.00 decline further with…
  22. December 2016 Corporate Presentation – Crew Energy Inc. – slide 22
    2015 YEAR END RESERVES SUMMARY Strong Montney Reserves Growth Through Drilling Success Low Finding & Development Costs with Strong Recycle Ratios (1)(2) 14 2015 Total 2015 11.71 Change 12 Reserves Change (per debt 2015 Reserves…
  23. December 2016 Corporate Presentation – Crew Energy Inc. – slide 23
    2016 CAPITAL PROGRAM AND FORECAST 2016 Cash Flow (CF) (mm) 80 Capex 100 Hedging Summary as of December 9, 2016 Year-end bank debt (mm) 250 Volume Period Derivative Reference Price Debt to annualized Q4 CF 2.1x Natural Gas…
  24. December 2016 Corporate Presentation – Crew Energy Inc. – slide 24
    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…
  25. December 2016 Corporate Presentation – Crew Energy Inc. – slide 25
    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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