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2Q 2017 Earnings Update – Crescent Point Energy Corp.

Crescent Point Energy Corp. · Aug 3, 2017 · 36 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. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 1
    Corporate Presentation Corporate Presentation August 2017 Crescent Point Energy Crescent Point Energy is one of Canadas largest light and medium oil producers, based in Calgary, Alberta. The Company is focused on growing its…
  2. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 2
    Outperforming 2017 Budget and Upwardly Revised Guidance Corporate Presentation Executing organic growth plan Q2 average production of 175,615 boe/d, exceeded average production target by over 8,000 boe/d or 5% 2017 average…
  3. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 3
    Business Strategy and 2017 Priorities Corporate Presentation 2017 Priorities Execute organic exit production growth of 10% Develop & Enhance Advance resource plays including new play development in Williston Increase recovery…
  4. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 4
    Focused Growth: High Quality, Low-Cost Producer With Scale Corporate Presentation AB SK SW Saskatchewan Williston Basin Divide Burke Williams Mountrail McKenzie Uinta Basin Dunn Crescent Point Energy ND UT…
  5. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 5
    Major Resource Plays Growth by Area Corporate Presentation 60,000 50,000 Uinta Upwards of 25% production CAGR within 5-yr plan In process of updating inventory 40,000 to reflect recent Hz success Viewfield Free cash flow…
  6. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 6
    Stacked Pay Comparison Major North American Shale Plays Corporate Presentation Midland Uinta Montney Eagle Ford Niobrara Bakken Garden Gulch Niobrara A Bakken Upper Niobrara B Three Forks Upper Niobrara C Douglas Creek Lower…
  7. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 7
    Improving Marketing Differentials Corporate Presentation Refining capacity has the ability to Uinta Basin Production Previous refinery increase (scheduled expansions 120,000 expansion plans planned prior to downturn) March 2017…
  8. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 8
    Horizontal Success in the Castle Peak Zone Corporate Presentation Castle Peak Hz Results Recent Increased Tonnage and 2-mile Hz Programs 70,000 Strong initial production rates: IP 30s of 1,000 boe/d 60,000 (60% increase over…
  9. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 9
    Improving Economics Through Efficiencies Corporate Presentation 10,000 Current Castle Peak NPV Per Well Current Castle Peak 1-Mile Horizontal Well Costs and Development Phase Cost Reductions 9,000 Capital reduction 8,000 ROR =…
  10. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 10
    Progression of Uinta Horizontal Well Results Corporate Presentation Currently flowing 2,000 at 2,000 boe/d 1,800 1,600 1,400 Strong IP 30 rates IP 30 rate (boe/d) from recent wells 1,200 1,000 800 Production…
  11. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 11
    Initial Delineation Program of Uteland Butte and Wasatch Zones Corporate Presentation 2017 Wasatch and Uteland Butte 100,000 Horizontal Well Results 90,000 CPG recent Wasatch 1-mile Strong Industry results are being…
  12. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 12
    Uinta Basin: Step-out Development Corporate Presentation Uinta 2017 Exit Production (boe/d) 19,000 (50%) Net Acres 287,000 OOIP (barrels) 5.2 billion RANDLETT Recovery to Date 0.7% BLACKTAIL RIDGE Risked Horizontal…
  13. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 13
    Downspacing Potential / Monitoring Microseismic Data Corporate Presentation Data indicates 300 feet length and 150 feet height growth Wells per Section Recovery Factor Opportunity to materially increase horizontal inventory 4…
  14. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 14
    Summary Corporate Presentation Continue to execute operationally with significant growth potential driven by Uinta Basin and Flat Lake Achieving excellent horizontal well results in the Uinta Basin Flat Lake area continues to…
  15. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 15
    Appendix 16 Crescent Point Energy Corporate Presentation
  16. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 16
    Capital Markets Summary & 2017 Guidance Corporate Presentation 2017 Guidance Market Summary: CPG (TSX and NYSE) Exit Production (boe/d) 183,000 Trading Price (July 24, 2017) CDN9.10 (TSX), US7.27 (NYSE) Production Shares…
  17. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 17
    Williston Basin Corporate Presentation Bakken Largest and longest producing resource play within the company Generates significant cash flow in excess of its capital expenditures Focused on infill development, secondary…
  18. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 18
    ICD: Newest Waterflood Technology to Improve Sweep Efficiency Corporate Presentation Well Response from 132 Direct Offsets Average Production (bbl/d) 70 700 Average Injection (bwpd) 60 600 50 Injection 500 Offset…
  19. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 19
    Viewfield Bakken Primary Infill Economics Hold Strong Corporate Presentation Bakken Drills (Rate vs. Time) Bakken Drills (Count vs. Time) 140 100% Well Count Percentage Calendar Daily Rate (bbl/d) 120 80% 100 80…
  20. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 20
    SW Saskatchewan Corporate Presentation Shaunavon Companys second largest producing resource play Approaching free cash flow stage of its life-cycle Benefits from the transfer of knowledge from Viewfield Bakken SK Viking (i.e.…
  21. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 21
    Lower Shaunavon: Strong Primary and Secondary Results Corporate Presentation Primary Production vs Capital Efficiency Waterflood Response vs Years of Primary Production 80,000 90 1000 70,000 80 Offset under primary production…
  22. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 22
    Commodity Hedging Strategy Corporate Presentation Oil Hedges 60,000 90.00 39% 13% H2 2017 H1 2018 50,000 80.00 Oil Hedge Volume (bbl/d) 40,000 CAD 30,000 70.00 20,000 60.00 10,000 0 50.00 Q3 17 Q4 17…
  23. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 23
    Balance Sheet Strength Corporate Presentation Debt Composition (CAD) as of June 30, 2017 Net Debt to Funds Flow From Operations 4.0x 1.7B 1.5B Senior Unutilized 3.0x Guaranteed Credit Notes* Capacity 2.0x 2.1B Drawn on…
  24. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 24
    Diversified Shareholder Base Corporate Presentation U.S. Ownership as a % 30% 25% 25% % of Total Shares Outstanding 20% 16% 15% 10% 5% 0% Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16…
  25. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 25
    Economics by Play Corporate Presentation 50 WTI Economics 55 WTI Economics Type Well Cost per well NPV 10% IRR Payout NPV 10% IRR Payout Williston Basin (EUR) (M) (M) (%) (months) (M) (%) (months) (mbbl) Viewfield Bakken 75…
  26. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 26
    Portfolio Summary Increasing Free Cash Flow and Reserves Corporate Presentation Growth Phase Transitional Phase Free Cashflow Phase (50% of 2017 Budget) (25% of 2017 Budget) (25% of 2017 Budget) Exploit early stage, large OOIP…
  27. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 27
    Acquisition History: Significant Reserves Growth Corporate Presentation Estimated Acquired TPP Current TPP Total TPP Ult. Increase In TPP Increase In Production to Property Reserves Reserves Recovery Reserves Reserves Date…
  28. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 28
    Risked and Unrisked Inventory Summary Corporate Presentation 16,000 6,770 14,856 (670) (868) 14,000 (997) (1,086) 12,000 (1,076) Net Location Inventory 10,000 1,031 8,086 8,000 7,700 (645) 6,000 4,000…
  29. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 29
    Absolute Exit Production Growth Corporate Presentation 225,000 50 WTI Case: Absolute Growth 250,000 55 WTI Case: Absolute Growth 4,643 237,646 19,153 3,563 209,371 8,624 225,000 Production (boe/d) 200,000 7,528…
  30. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 30
    Relative Production Growth (2021 Exit / 2016 Exit) Corporate Presentation 50 WTI Case 55 WTI Case 80% 160% 152% 69% Production Growth 60% 120% Production Growth 40% 80% 28% 22% 44% 19% 37% 20% 40% 29% 0% 0%…
  31. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 31
    Financial Impact: 100 Annual Injection Well Conversions Corporate Presentation Case 1 Historical Response 2017 2018 2019 2020 2021 Impact to Corporate Decline Rate (100 Annual Conversions) Injectors (net) 100 100 100 100 100…
  32. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 32
    High Employee Engagement Contributes to Corporate Presentation Strong Corporate Governance 10th annual employee survey delivered to all field and office staff (82% or 823 responded in 2016) measures perception of management…
  33. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 33
    Corporate Presentation Committed and Ongoing Shareholder Engagement Following AGM Say-On-Pay voting results, we solicited shareholders and Actively engaged with investment Continuing governance engagement in proxy advisory firms input…
  34. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 34
    Board Renewal Process Supported by Robust Orientation Corporate Presentation 2013 2017 2019 Other key diversity enhancements: 6 new 2 new International experience independent independent Industry members members to be…
  35. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 35
    Entrepreneurial Culture Drives Low G&A Corporate Presentation Cash and Share-Based G&A as a Percentage of Netback 10 Years of Consistently Low Cash G&A - 24% Under 1.65/boe Total G&A as a percentage of netback 2.50 20%…
  36. 2Q 2017 Earnings Update – Crescent Point Energy Corp. – slide 36
    Company Information Corporate Presentation BANKER Bank of Nova Scotia AUDITOR PricewaterhouseCoopers LLP LEGAL COUNSEL Norton Rose Fulbright Canada LLP GLJ Petroleum Consultants Ltd EVALUATION ENGINEERS Sproule Associates Ltd…

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