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March 2018 Corporate Presentation – Crew Energy Inc.

Crew Energy Inc. · Mar 6, 2018 · 23 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. March 2018 Corporate Presentation – Crew Energy Inc. – slide 1
    1 BUILDING OUR FUTURE IN THE MONTNEY March 2018
  2. March 2018 Corporate Presentation – Crew Energy Inc. – slide 2
    ABOUT CREW (TSX: CR) Liquids-focused, NE BC Montney producer Large, contiguous land base with a massive resource 16 billion boe Access to diversified markets with operated and growing infrastructure footprint, increasing liquids…
  3. March 2018 Corporate Presentation – Crew Energy Inc. – slide 3
    2018 PLAN E&D spending to approximate cash flow, estimated at 80 - 85 million 23,500 24,500 boe/d average (24% liquids) Credit facility draws…
  4. March 2018 Corporate Presentation – Crew Energy Inc. – slide 4
    Q4 & 2017 HIGHLIGHTS West Septimus focus improves netbacks and adjusted funds flow (AFF)(1) 2017 AFF 2017 Operating Q4 17 Average Netback Production 37% vs 2016 30% 13% vs 2016 Q4 17 Realized 108.1 MM / vs Q4 16 Gas Price 0.72…
  5. March 2018 Corporate Presentation – Crew Energy Inc. – slide 5
    SIGNIFICANT PROSPECTIVE LAND POSITION Built for low cost 280,000 acres for net 285/acre Montney (2007) Montney (2010) Montney (2018) Value Production Land Date Area Divested (mm) (boe/d) (acres) Apr 2010 Edson Cardium 126 1,700…
  6. March 2018 Corporate Presentation – Crew Energy Inc. – slide 6
    2017 YEAR END RESERVES HIGHLIGHTS(1) Outperformance at West Septimus drives strong PDP growth West Septimus Reserves Growth Reserves per Share Increases 80% Across All Categories 2017 vs. 2016 68% PDP 1P 2P Corporate Reserves…
  7. March 2018 Corporate Presentation – Crew Energy Inc. – slide 7
    FULLY FUNDED 2018 BUDGET Targeting higher liquids / condensate revenue Reduced Capex & Stable Production Liquids production 250 25,000 50 - 60% Annual Production (boe/d) 200 20,000 Capex (MM) Of forecast 2018 revenue 150…
  8. March 2018 Corporate Presentation – Crew Energy Inc. – slide 8
    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…
  9. March 2018 Corporate Presentation – Crew Energy Inc. – slide 9
    CREW MONTNEY STRATIGRAPHIC STACK 2 HZ Wells 4 HZ Wells 3 HZ Wells 77 HZ Wells 77 HZ Wells 10 HZ Wells West Portage Groundbirch Attachie West Septimus Septimus Tower Doig Upper Montney 9 1 AA 1 23 7 2 A 42 48 3 B 2 9 3…
  10. March 2018 Corporate Presentation – Crew Energy Inc. – slide 10
    CONVERTING RESOURCE TO PRODUCTION & RESERVES And at a low cost 400.0 P+P Reserves(2) (MMBOE) Montney Organic Production Growth(1) (BOE/D) 370.2 22,000 Forecast 350.0 323.9 Natural Gas boepd 20,000 300.0 Liquids mmbbls 18,000 NGLs…
  11. March 2018 Corporate Presentation – Crew Energy Inc. – slide 11
    FREE CASH FLOW AT SEPTIMUS Achieved free cash flow model Long-range growth plan forecasts W. Septimus & 85 MM Free cash flow forecast 16 19(2) Groundbirch generating free cash flow in excess of 2X Septimus (16/17 actuals & 18/19…
  12. March 2018 Corporate Presentation – Crew Energy Inc. – slide 12
    WEST SEPTIMUS: CONDENSATE-RICH REGION Quick payouts & compelling IRRs support continued development across a variety of gas prices Rate of Return Sensitivities(1) to AECO Pricing (/mcf) WTI: US60/bbl & FX: 0.80 120% AECO Assumption…
  13. March 2018 Corporate Presentation – Crew Energy Inc. – slide 13
    ULTRA CONDENSATE-RICH (UCR) AREA New focus at Greater Septimus Focus on UCR development in 18 UCR Area Crew 7-30 Pad IP 60: 5 well avg Condensate ratios of 75-250 bbls/mmcf in area 350 bbls/d condy 172 bbls/mmcf CGR 85% IRR at…
  14. March 2018 Corporate Presentation – Crew Energy Inc. – slide 14
    FUTURE GROWTH OPPORTUNITIES Groundbirch and Attachie development B13-26-84-24W6 10 Miles Crew 10-22 ATTACHIE 10.5 mmcf/d Extreme overpressured CGR: 350 bbls/mmcf IP30: 665 bbls/d condy Over-pressured 1.5 - 1.8x with 4 fracs…
  15. March 2018 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 PROCESSING 350,000 TRANSPORTATION 300,000 Groundbirch Facility Additional capacity…
  16. March 2018 Corporate Presentation – Crew Energy Inc. – slide 16
    MARKET DIVERSIFICATION Expanding exposure to higher-priced hubs outside of Canada Q1 2018 Q2 & Q3 2018 Q4 2018 2019 5% 5% 9% 16% Chicago 6% 19% 15% Dawn 4% 19% 4% Malin 11% 15% 41% 4% Nymex 8% 8% 8% Sumas 13% 13% 13% AECO…
  17. March 2018 Corporate Presentation – Crew Energy Inc. – slide 17
    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)…
  18. March 2018 Corporate Presentation – Crew Energy Inc. – slide 18
    KEY MONTNEY BUILDING BLOCKS ARE IN PLACE 16+ billion boe TPIIP(1) with 5,380 identified locations(1) on 280,000 net acres Massive Montney Resource Only 13% of Upper Montney land has reserves assigned Condensate, Light Oil & Focus on…
  19. March 2018 Corporate Presentation – Crew Energy Inc. – slide 19
    Contact Info: Contact Info: Dale O. Shwed, President & CEO John G. Leach, Senior Vice President & CFO Suite 800, 250 - 5th Street SW Calgary, Alberta T2P 0R4 Suite 800, 250 - 5th Street SW Telephone: (403) 266-2088 Calgary, Alberta…
  20. March 2018 Corporate Presentation – Crew Energy Inc. – slide 20
    APPENDIX
  21. March 2018 Corporate Presentation – Crew Energy Inc. – slide 21
    2018 CAPEX PROGRAM & FORECAST Hedging Summary as of Mar 1, 2018 2018 Volume Period Derivative Reference Price Cash Flow (CF) (mm) 80 Natural Gas Capex (mm) 80-85 2,500 GJ/Day 2018 Swap AECO C2.62/GJ Year-end net debt (mm) 348 22,500…
  22. March 2018 Corporate Presentation – Crew Energy Inc. – slide 22
    NE BC MONTNEY RESOURCE EVALUATION - 2016 Dec. 31, Dec. 31, Reserves and Risked and Unrisked Economic Contingent Chance of Best Estimate Best Estimate 2016 2015 Resource (1)(2)(3)(6)(7)(8) Development Unrisked Risked Conventional…
  23. March 2018 Corporate Presentation – Crew Energy Inc. – slide 23
    NE BC MONTNEY RESOURCE EVALUATION - 2016 CONTD Chance of Best Estimate Best Estimate Prospective Resources (1)(2)(3)(4)(5)(6)(7) Commerciality Unrisked Risked Conventional Natural Gas (Tcf) 66% 10,311 6,774 NGL (MMbbl) 66% 327 215…

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