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April 2017 Corporate Presentation – Crescent Point Energy Corp.

Crescent Point Energy Corp. · Apr 3, 2017 · 31 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. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 1
    Crescent Point Energy Corporate Presentation April 2017 Crescent Point Energy is one of Canadas largest light and medium oil producers, based in Calgary, Alberta. The Company is focused on growing its significant resource base in…
  2. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 2
    HIGH-QUALITY, LOW-COST PRODUCER: CPG (TSX AND NYSE) 2017 Average Production 172,000 boe/d (89% liquids) Strategic Asset Base Largest Canadian producer in Williston Basin 2017 Exit Production 183,000 boe/d (89% liquids) (Top 5…
  3. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 3
    BUSINESS STRATEGY AND 2017 PRIORITIES 2017 Priorities Develop and Enhance Execute organic exit production growth of 10% Increase recovery factors through infill drilling, waterflood Advance resource plays including new play…
  4. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 4
    COMMODITY HEDGING STRATEGY 42% 35% 12% H1 2017 H2 2017 H1 2018 60,000 90.00 Oil Hedge volume (bbl/d) 50,000 80.00 40,000 CAD 30,000 70.00 20,000 60.00 10,000 0 50.00 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Swaps…
  5. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 5
    FOCUSED GROWTH: LARGE UNDEVELOPED RESOURCE BASE SW Saskatchewan AB 39,000 boe/d expect 10% growth in 2017 25% of 2017 capital expenditures budget SK Largest producer in the Shaunavon resource play1 Operating largest waterflood…
  6. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 6
    SIGNIFICANT GROWTH POTENTIAL SUPPORTED BY STRONG WELL ECONOMICS Independent Ranking of North American Light/Medium Oil Plays 2017 Drilling Program (Based on Internal Rates of Return at US 50 WTI) Supported by Quick Payouts 1st 3rd…
  7. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 7
    NEW WATERFLOOD TECHNOLOGY: INJECTION CONTROL DEVICE (ICD) SYSTEM Previous Waterflood Technology New ICD Technology 120 120 Response in 12-18 months 80 Response in 6 months 80 (Normalized to start of injection) (Normalized to start of…
  8. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 8
    STRONG FREE CASH FLOW GENERATION Attractive Value Based on Free Cash Flow Generation 12.0% 10% Free Cash Flow Yield 8.0% 4.0% 0.0% CPG VET SU CNQ IMO HSE CVE ARX PEY VII TOU ECA Based on Scotiabank Global Banking…
  9. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 9
    2016 HIGHLIGHTS EXCEEDED GUIDANCE Annual production of 167,764 boe/d (ahead of guidance with capital expenditures in line with budget) Lowered operating costs per boe (down 8% vs initial 2016 budget) Continued to reduce capital costs…
  10. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 10
    2016 RESERVES GROWTH & LOW F&D COSTS OF 7.02 PER BOE Organic Reserves Growth and Recycle Ratio Added 2P reserves of 84.2 MMboe 800 4.0x 644 million boe of Replaced 137% of 2016 production 2P Reserves (MMboe) 600 organic…
  11. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 11
    2017 FOCUS: ORGANIC GROWTH AND NEW PLAY DEVELOPMENT Execute organic production growth of 10% (2016 to 2017 exit) Expand on recent new play development Advance horizontal drilling program in Uinta Basin including continued…
  12. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 12
    2017 CAPITAL BUDGET AND PRODUCTION GROWTH 2017 Production Growth 183,000 Production (boe/d) 170,000 167,000 2016 Exit Q1 2017 E 2017 Exit Opportunity for additional upside as 2017 production guidance assumes…
  13. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 13
    WILLISTON BASIN Viewfield Largest and longest producing resource play within the company Bakken Generates significant cash flow in excess of its capital expenditures (0.5 billion expected in 2017 US55 WTI) Focused on infill…
  14. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 14
    SW SASKATCHEWAN Viking Increased well density in drilling program from 16 to 22 wells per section Testing extended reach horizontal wells to further improve the economic development SK Viking Implementing closeable sliding sleeves…
  15. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 15
    UINTA BASIN ADVANCING NEW HORIZONTAL PLAY Most active horizontal driller during 2016 Ouray Advanced geological knowledge (seismic, core, well logs) Valley Gusher 15 horizontal wells drilled across multiple zones since late 2014…
  16. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 16
    CASTLE PEAK ZONE: HORIZONTAL DEVELOPMENT AND ECONOMICS Horizontal Type Curve Information Early-stages of delineation Depth (ft) 6,000 to 9,000 (120 locations based on a Lateral Length Currently one-mile conservative 4…
  17. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 17
    SUMMARY Proven Management Team Proven track record of per share reserves, production and cash flow growth. Have never missed a production target 5-year weighted average F&D of 20.16 per 2P boe of reserves (1.9 times recycle ratio)12…
  18. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 18
    APPENDIX 19
  19. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 19
    CRESCENT POINT VALUE CREATION STRATEGY: VIEWFIELD BAKKEN CASE STUDY Apply advanced drilling, Transition resource plays into Capture large original oil-in-place completion and waterflood significant free cash flow pools with low…
  20. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 20
    WATERFLOOD: NET ASSET VALUE CREATION 160 3x greater NPV10% and EUR versus primary14 15 140 120 Oil Rate (bbl/d) 100 80 EUR 100mbbl 60 EUR 350mbbl 40 20 0 0 1 2 3 4 5 6 7 8 9 10 Years Infill Well Direct Offset…
  21. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 21
    BALANCE SHEET STRENGTH Debt Composition (CAD) as of December 31, 2016 Net Debt to Funds Flow from Operations 4.0x 1.7B 1.9B 3.0x Senior Unutilized Guaranteed Credit Notes* Capacity 2.0x 1.7B 1.0x Drawn on Bank Credit…
  22. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 22
    IMPROVING CAPITAL COSTS Viewfield Bakken Flat Lake 12 440 18 Capital cost per Metre 500 Capital cost per Metre Drilling Days Drilling Days 400 9 360 14 300 6 280 10 200 100 3 200 6 2011 2012 2013 2014 2015 Q4…
  23. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 23
    PER SHARE FOCUS Production per Share Reserves per Share 400 2 1.75 300 1.5 1.25 200 1 2010 2011 2012 2013 2014 2015 2016 2017 Exit 2010 2011 2012 2013 2014 2015 2016 Guidance Integrated strategy of organic…
  24. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 24
    ECONOMICS BY PLAY Cost per NPV IRR Payout Area Type Well (EUR) well (M) 10% (M) (%) (months) Williston Basin (Viewfield) 75 125 (mbbl) 1.3 1.4 to 3.4 86 to 268 8 to 14 Williston Basin (Flat Lake Torquay) 150 225 (mbbl) 2.3 2.6 to…
  25. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 25
    ACQUISITION HISTORY: SIGNIFICANT RESERVES GROWTH Acquired TPP Estimated Current TPP Total TPP Increase In % Increase In Property Reserves Production to Reserves Ult.Recovery TPP Reserves Reserves (Mboe) Date (Mboe) (Mboe) (Mboe)…
  26. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 26
    STRONG CORPORATE GOVERNANCE REFLECTED IN HIGH EMPLOYEE ENGAGEMENT AND INTEGRITY 10th annual employee survey (of all field and office staff - 82% or 880 out of 1,073 employees response rate in 2016) measures perception of management…
  27. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 27
    COMMITTED AND ONGOING SHAREHOLDER ENGAGEMENT When our shareholders speak.WE LISTEN AND RESPOND Following AGM Say-On-Pay voting results, we solicited shareholders and proxy advisory firms input Invited the 25 largest shareholders…
  28. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 28
    COMMITTED AND ONGOING INVESTOR COMMUNICATION Targeting events with investment community to highlight technical expertise and depth of management team Depth of talent in executive team to be highlighted in upcoming roadshows and…
  29. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 29
    BOARD RENEWAL PROCESS BALANCES CORPORATE MEMORY WITH NEW IDEAS Independent Board with Significant Breadth and Depth of Experience 2017 Joined Director / Nominee Skills / Background Re-election Board Impact of Board Renewal Process on…
  30. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 30
    CORPORATE PHILOSOPHY DRIVES LOW G&A AND AN ENTREPRENEURIAL CULTURE Cash and Share-Based G&A as a 10 Years of Consistently Low Cash G&A - Percentage of Netback Under 1.65/boe 24% 2.50 22% G&A as a percentage of netback 20%…
  31. April 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 31
    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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