Skip to main content November 2017 Corporate Presentation – Crew Energy Inc. | Shale Experts
Loading...
Pm

November 2017 Corporate Presentation – Crew Energy Inc.

Crew Energy Inc. · Nov 6, 2017 · 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. November 2017 Corporate Presentation – Crew Energy Inc. – slide 1
    BUILDING OUR FUTURE IN THE MONTNEY Location, Location, Location Corporate Presentation November 2017
  2. November 2017 Corporate Presentation – Crew Energy Inc. – slide 2
    ABOUT CREW (TSX: CR) Liquids-focused, NE BC Montney producer Growth-oriented Montney producer with large, contiguous land base in NE BC Simple business strategy: Replicate the successful free cash flow generation achieved at Septimus…
  3. November 2017 Corporate Presentation – Crew Energy Inc. – slide 3
    Q3 17 & RECENT HIGHLIGHTS Increased liquids weighting improves funds from operations Corporate: 23,251 boe/d Greater Septimus: 18,154 boe/d (17% vs. Q2 17) 2,600 boe/d of shut-in production added 1MM to funds from operations Crew…
  4. November 2017 Corporate Presentation – Crew Energy Inc. – slide 4
    MAXIMIZING RETURNS FROM OUR RESOURCE It starts with the rock Build a material prospective land position at a low cost Define the resource and convert the prospective land to resource Convert the resource into reserves and…
  5. November 2017 Corporate Presentation – Crew Energy Inc. – slide 5
    SIGNIFICANT PROSPECTIVE LAND POSITION BUILT And for low cost 280,000 acres for net 285/acre Montney (2007) Montney (2010) Montney (2017) Value Production Land Date Area Divested (mm) (boe/d) (acres) Apr 2010 Edson Cardium 126…
  6. November 2017 Corporate Presentation – Crew Energy Inc. – slide 6
    CONVERTING PROSPECTIVE LAND TO RESOURCE Montney is a siltstone, not a shale Montney Attributes: Exceptionally thick: up to 1,000 feet Permeability 20-80x greater than comparable resource plays in North America Excellent fracability…
  7. November 2017 Corporate Presentation – Crew Energy Inc. – slide 7
    CREW MONTNEY STRATIGRAPHIC STACK 2 HZ Wells 4 HZ Wells 3 HZ Wells 72 HZ Wells 77 HZ Wells 10 HZ Wells West Portage Groundbirch Attachie West Septimus Septimus Tower Doig Upper Montney 7 1 AA 1 23 7 2 A 42 47 3 B 2 9 3…
  8. November 2017 Corporate Presentation – Crew Energy Inc. – slide 8
    CONVERTING RESOURCE TO PRODUCTION & RESERVES And do it for low cost Forecast 350.0 323.9 30,000 P+P Reserves(2) (MMBOE) Montney Production(1) (BOE/D) 300.0 25,000 246.5 250.0 Liquids mmbbls Natural Gas boepd 20,000 Gas mboe 201.9…
  9. November 2017 Corporate Presentation – Crew Energy Inc. – slide 9
    PROOF OF CONCEPT WITH SEPTIMUS Achieved free cash flow model 89 MM Free cash flow forecast 16 19(2) Long-range growth plan forecasts free cash flow equivalent to Septimus multiplied by 5 100 Cash Flow Capex 90 Average Per Well…
  10. November 2017 Corporate Presentation – Crew Energy Inc. – slide 10
    WEST SEPTIMUS: CONDENSATE RICH Plant expansion to 120 mmcf/d plus high condensate rates accelerates free cash flow generation Higher liquids weighting contributes to a better return on 2x Initial Condensate Ratios vs. Septimus…
  11. November 2017 Corporate Presentation – Crew Energy Inc. – slide 11
    ULTRA CONDENSATE-RICH AREA New focus at Greater Septimus Significant long-term future development Ultra Condensate-Rich potential in the area. Condensate-rich with low C7-30: 83,000 bbls condensate in 326 days; avg CGR of 168 capital…
  12. November 2017 Corporate Presentation – Crew Energy Inc. – slide 12
    GROUNDBIRCH Delineation area with long-term upside Higher liquids content than Septimus at 40 bbls / Recent Landsale 2.1MM / Section mmcf, 60% condensate Crew 2-4 Pad 2 wells: 5.1 mmcf/d 108 bbls/d condy Groundbirch Large pay…
  13. November 2017 Corporate Presentation – Crew Energy Inc. – slide 13
    ATTACHIE Pilot wells successful July 2017 Landsale 21 Sections 77MM 3.7 MM / Section Over-pressured 1.5 - 1.8x with liquids-rich natural gas B13-26-84-24W6 Large pay thickness (1,000 Upper + Lower Montney) Crew 10-22 10.5…
  14. November 2017 Corporate Presentation – Crew Energy Inc. – slide 14
    SEPTIMUS 5X MODEL Inventory of 5,465 identified drilling locations(1) supports processing capacity + growth Future Growth Supported by Operated Infrastructure 1x Septimus: 60 mmcf/d 104 identified locations & 6 wells per year to…
  15. November 2017 Corporate Presentation – Crew Energy Inc. – slide 15
    CONTINUE DE-RISKING AND HIGH GRADING PORTFOLIO WITH STAGED INFRASTRUCTURE BUILDOUT 275 mmcf/d takeaway capacity with 325 mmcf/d of processing Transportation TCPL/Nova: 60 mmcf/d firm increasing to 120 mmcf/d (Jun 19) Spectra: 30…
  16. November 2017 Corporate Presentation – Crew Energy Inc. – slide 16
    REALIZED IMPACT OF GAS MARKET DIVERSITY Ideally positioned with access to 3 major export pipelines 3.50 Commencement of Alliance Pipeline service and initiation of diversified contract portfolio 3.00 Natural Gas Prices (C/MCF)…
  17. November 2017 Corporate Presentation – Crew Energy Inc. – slide 17
    CONTROLLING COSTS & MAXIMIZING NETBACKS Montney assets continue to generate attractive netbacks Rolling One Year (to Q2 17) Top Quartile Rolling One Year Operating Netbacks (Pre-Hedging) for (to Q2 17) Operating Costs Among 25…
  18. November 2017 Corporate Presentation – Crew Energy Inc. – slide 18
    COMPELLING RETURNS FROM MONTNEY ASSETS Across a variety of price & cost cycles Project Area Cost Increase Effect on IRR (BT) Project Area Price Increase Effect on IRR (BT) 100 4.8MM 160 90 147% IRR with 15% 50% IRR even with 140…
  19. November 2017 Corporate Presentation – Crew Energy Inc. – slide 19
    KEY MONTNEY BUILDING BLOCKS ARE IN PLACE Focus on condensate-rich development to drive improved cash flows Increasing Condensate Quicker well payouts with improving netbacks 16+ billion boe TPIIP with 5,465 identified locations(1) on…
  20. November 2017 Corporate Presentation – Crew Energy Inc. – slide 20
    Contact Info: 21 Dale O. Shwed, President & CEO John G. Leach, Senior Vice President & CFO Suite 800, 250 - 5th Street SW Calgary, Alberta T2P 0R4 Telephone: (403) 266-2088 Email: investorcrewenergy.com www.crewenergy.com 21
  21. November 2017 Corporate Presentation – Crew Energy Inc. – slide 21
    2017 CAPEX PROGRAM & FORECAST 2017 Cash Flow (CF) (mm) 110 Hedging Summary as of Nov 2, 2017 Capex (mm) 235 Volume Period Derivative Reference Price Year-end net debt (mm) 337 Debt to annualized Q4 CF 2.4x Natural Gas Assumptions:…
  22. November 2017 Corporate Presentation – Crew Energy Inc. – slide 22
    TRACK RECORD OF PROFITABILITY SUPPORTED BY LOW COSTS 2016 PDP FD&A Costs 2016 Cash Costs (US/boe) (US/boe, net of royalties) 60 30 Canadian Co's Canadian Co's US Co's US Co's 50 Median 25 Median 40 20 30 15 20 10…
  23. November 2017 Corporate Presentation – Crew Energy Inc. – slide 23
    TOP QUARTILE CAPITAL EFFICIENCIES DRIVE STRONG RECYCLE RATIOS 3-Year Proved Developed FD&A Costs 3-Year Proved Developed Recycle Ratio (US/boe, net of royalties) (US/boe, net of royalties, including hedging) 60 3.5x Canadian Co's…
  24. November 2017 Corporate Presentation – Crew Energy Inc. – slide 24
    VALUE / PROFITABILITY DISCONNECT 14.0x US Co's PXD Revenue - PDP FD&A Costs - Cash Costs = Canadian Co's CXO 12.0x Full Cycle Profitability EOG Increasing APA PE XEC valuation EGN AREX COG 10.0x CHK ARX KEL VET EV/DACF…

From the store

Browse maps, data & reports in the Shale Experts store