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December 2017 Corporate Presentation – Crescent Point Energy Corp.

Crescent Point Energy Corp. · Dec 11, 2017 · 37 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 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 1
    Corporate Presentation Corporate Presentation December 2017 Innovation & Technology Leaders Knowledge First Culture Value Creators Crescent Point Energy Crescent Point Energy is one of Canadas largest light and medium oil…
  2. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 2
    Q3 2017 Highlights and Increased 2017 Guidance Corporate Presentation Strong Q3/17 production growth and increased 2017 average production guidance Q3/17 average production of 176,069 boe/d, an increase of over 15,000 boe/d or 10%…
  3. December 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% per share Develop & Enhance Advance resource plays including new play development in Williston Increase…
  4. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 4
    Proven Track Record of Resource Capture & Value Creation Corporate Presentation 25.0 OOIP 2.50 2P Reserves per Share 20.0 2.00 23 Billion Bbls MMboe/share Billion bbls 15.0 (3% recovered to date) 1.50 10.0 1.00 5.0…
  5. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 5
    Focused Growth: High Quality, Low-Cost Producer With Scale Corporate Presentation Williston Basin (8.5 Billion OOIP) 50% of 2017 capital budget 103,000 boe/d SK MB Combination of stable low-risk production, excess free cash…
  6. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 6
    Core Resource Plays Drive Economic Growth Corporate Presentation Independent Ranking of North American Light/Medium Oil Plays (Based on Payback at US 50 WTI) CPG Plays Shaunavon SK Bakken Permian (1) Eagle Ford…
  7. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 7
    Technology and Innovation: Driving Sustainable Growth Corporate Presentation Experience / Big Data Analytics Drilled 5,000 horizontal wells since inception and applied numerous leading edge technologies 1 driller in Canada and…
  8. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 8
    Uinta Stacked Pay Comparison vs. Major North American Shale Plays Corporate Presentation Midland Uinta Montney Eagle Ford Niobrara Bakken Upper Spraberry Garden Gulch Bakken Niobrara A Three Forks Upper Niobrara B Upper…
  9. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 9
    Uinta Basin: Proved Horizontal Success in the Castle Peak Zone Corporate Presentation Current Castle Peak 1-Mile Horizontal Well Costs 5,200 and Development Phase Cost Reductions 5,000 5,000 Proven Castle Peak development, with…
  10. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 10
    Uinta Basin: Expanding Horizontal Development into New Zones Corporate Presentation 120,000 2017 Industry 2-mile Horizontal Well Results Expanding upon recent success in Uteland Butte and Wasatch zones 100,000 80,000 CPG…
  11. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 11
    Uinta Basin: Expanding Resource Base Corporate Presentation BLACKTAIL RANDLETT RIDGE LAKE CANYON Net Acres 287,000 OOIP (barrels) 5.2 billion CPG lands Recovery to Date 0.7% Proven development and productivity:…
  12. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 12
    Uinta Basin: Marketing Corporate Presentation Uinta Basin Production Refining capacity has the ability to increase Previous refinery (scheduled expansions planned prior to downturn) 120,000 expansion plans June 2017 oil rate…
  13. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 13
    Williston Basin: Developing New Resource Play in Flat Lake Corporate Presentation 130 km Lands acquired in 2017 Existing CPG Lands 2017 Lodgepole Wells Continue to generate strong results in Torquay step-out and Ratcliffe…
  14. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 14
    Balancing Cash Outflows with Cash Inflows Corporate Presentation ACQUISITIONS DISPOSITIONS 2016 - 2017 Total Payout DIVIDENDS 106% 1 (100% including targeted dispositions during 2017) CAPITAL FUNDS FLOW EXPENDITURES…
  15. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 15
    Investment Summary Corporate Presentation Scaleable Economic Growth Top-quartile netbacks supported by low well costs and quick payouts Scaleable organic growth: 23 billion OOIP (3% recovered), 14,850 unrisked locations and 4…
  16. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 16
    Appendix 17 Crescent Point Energy Corporate Presentation
  17. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 17
    Capital Markets Summary Corporate Presentation CPG (TSX and NYSE) Trading Price (Oct 23, 2017) CDN9.14 (TSX), US7.22 (NYSE) Shares Outstanding 549.1 million Average Daily Trading Volume 5.6 million Dividend (Yield) CDN0.03 per…
  18. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 18
    Commodity Hedging Strategy Corporate Presentation 48% Oil Hedges 70,000 90.00 Q4 2017 60,000 25% 12% 7% 80.00 Oil Hedge Volume (bbl/d) 50,000 H1 2018 H2 2018 H1 2019 40,000 CAD 70.00 30,000 20,000 60.00…
  19. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 19
    Balance Sheet Strength Corporate Presentation Debt Composition (CAD) as of Sep 30, 2017 Net Debt to Funds Flow From Operations 4.0x 1.7B 1.5B Senior Cash & Guaranteed Unutilized 3.0x Notes* Credit Capacity 2.0x 2.2B Drawn…
  20. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 20
    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…
  21. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 21
    Major Resource Plays Growth by Area Corporate Presentation 60,000 Flat Lake 50,000 Upwards of 23% production CAGR within 5-yr plan Expanding resource play Uinta through step-out program 40,000 Upwards of 25% production…
  22. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 22
    Progression of Uinta Horizontal Well Results Corporate Presentation Cum. production of 2,000 200,000 boe, and still flowing at 1,000 boe/d 1,800 after 125 days 1,600 1,400 Strong IP 30 rates IP 30 rate (boe/d) from…
  23. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 23
    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…
  24. December 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. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 25
    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…
  26. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 26
    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…
  27. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 27
    Climate Change Initiatives Corporate Presentation Current Projects Piloting first solar facility in SE Saskatchewan Utilizing drilling rigs powered by cleaner burning natural gas First CPG solar facility in SE Saskatchewan…
  28. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 28
    Diversified Shareholder Base Corporate Presentation U.S. Ownership as a % 30% 27% % of total shares outstanding 25% 20% 16% 15% 10% Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16…
  29. December 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) (MM) (MM) (%) (months) (MM) (%) (months) (mbbl) Viewfield Bakken…
  30. December 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. December 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. December 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. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 33
    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…
  34. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 34
    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…
  35. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 35
    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…
  36. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 36
    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%…
  37. December 2017 Corporate Presentation – Crescent Point Energy Corp. – slide 37
    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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