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September 2017 Corporate Presentation – Crescent Point Energy Corp.

Crescent Point Energy Corp. · Sep 14, 2017 · 40 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. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 1
    Corporate Presentation Corporate Presentation September 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. September 2017 Corporate Presentation – 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. September 2017 Corporate Presentation – 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. September 2017 Corporate Presentation – 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. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 5
    Technology and Innovation: Driving Sustainable Growth Corporate Presentation Experience / Big Data Analytics Bakken Drilled 5,000 horizontal wells since inception and applied numerous leading edge technologies 1 driller in Canada…
  6. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 6
    Significant Growth Potential Supported by Strong Well Economics Corporate Presentation Independent Ranking of North American Light/Medium Oil Plays (Based on Internal Rates of Return at US 50 WTI) 1st 3rd 4th 6th 10th…
  7. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 7
    Major Resource Plays Growth by Area Corporate Presentation 60,000 50,000 Flat Lake Upwards of 23% production CAGR within 5-yr plan Expanding resource play Uinta through step-out program 40,000 Upwards of 25% production…
  8. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 8
    Crescent Point Energy 5-Year Plan Corporate Presentation High quality, high netback, low-risk assets with 300,000 strong well economics Production (boe/d) Plans to grow up to 11% CAGR (dependent on oil prices) funded…
  9. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 9
    Uinta Marketing 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 oil rate = 70,000…
  10. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 10
    Corporate Presentation Uinta Stacked Pay Comparison vs. Major North American Shale Plays Midland Uinta Montney Eagle Ford Niobrara Bakken Garden Gulch Niobrara A Bakken Upper Niobrara B Three Forks Upper Niobrara C Douglas Creek…
  11. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 11
    Uinta Horizontal Success in the Castle Peak Zone Corporate Presentation Castle Peak Hz Results Recent Increased Tonnage and 2-mile Hz Programs 70,000 60,000 Strong initial production rates: IP 30s of 1,000 boe/d (60% increase…
  12. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 12
    Improving Uinta Castle Peak 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…
  13. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 13
    Progression of Uinta Horizontal Well Results Corporate Presentation Cum. production of 2,000 135,000 boe, and still flowing at 1,800 boe/d 1,800 after 75 days 1,600 1,400 Strong IP 30 rates IP 30 rate (boe/d) from…
  14. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 14
    Initial Delineation Program of Uteland Butte and Wasatch Zones Corporate Presentation 2017 Wasatch and Uteland Butte Horizontal Well Results 140,000 Strong Industry results are being demonstrated in the 120,000 CPG recent…
  15. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 15
    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…
  16. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 16
    Uinta Basin: 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…
  17. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 17
    Uinta Basin: CPGs IP Rates and Economics vs. Major US Plays Corporate Presentation CPGs Uinta results vs wells drilled in US plays US WTI Breakeven (IP 30 per 1,000 feet of lateral length*) 350 50 Castle Peak 300 1st. Gen…
  18. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 18
    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…
  19. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 19
    Appendix 20 Crescent Point Energy Corporate Presentation
  20. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 20
    Capital Markets Summary & 2017 Guidance Corporate Presentation 2017 Guidance Market Summary: CPG (TSX and NYSE) Exit Production (boe/d) 183,000 Trading Price (Aug 25, 2017) CDN8.42 (TSX), US6.75 (NYSE) Production Shares…
  21. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 21
    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…
  22. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 22
    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…
  23. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 23
    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…
  24. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 24
    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.…
  25. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 25
    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…
  26. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 26
    Commodity Hedging Strategy Corporate Presentation 70,000 Oil Hedges 90.00 41% 20% 60,000 H2 2017 H1 2018 80.00 50,000 Oil Hedge Volume (bbl/d) 40,000 CAD 70.00 30,000 20,000 60.00 10,000 0 50.00 Q3 17 Q4…
  27. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 27
    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…
  28. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 28
    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…
  29. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 29
    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…
  30. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 30
    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…
  31. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 31
    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…
  32. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 32
    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…
  33. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 33
    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…
  34. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 34
    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%…
  35. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 35
    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…
  36. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 36
    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…
  37. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 37
    Committed and Ongoing Shareholder Engagement Corporate Presentation Following AGM Say-On-Pay voting results, we solicited shareholders and Actively engaged with investment Continuing governance engagement in proxy advisory firms…
  38. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 38
    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…
  39. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 39
    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%…
  40. September 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 40
    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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