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March 2018 Corporate Presentation – Crescent Point Energy Corp.

Crescent Point Energy Corp. · Mar 9, 2018 · 45 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 – Crescent Point Energy Corp. – slide 1
    Corporate Presentation March 2018 Knowledge Innovation & Value First Culture Technology Leaders Creators
  2. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 2
    Crescent Point Advantage Corporate Presentation Scaleable Long-Term Financial Economic Growth Value Creators Discipline Crescent Point Energy 2
  3. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 3
    Crescent Point Overview Corporate Presentation Value Creators Financial Discipline Per share focus and operational execution Balancing cash flows Innovation driven by knowledge-first culture Southwest Williston Conservative…
  4. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 4
    Business Strategy Corporate Presentation Develop & Enhance Increase recovery factors through infill drilling, waterflood optimization and improved technology Growth Acquire high-quality, large resource-in-place pools with…
  5. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 5
    Execution in 2017 & 2018 Outlook Corporate Presentation Increased productive capacity by Achieved exit guidance 70% 320 million of 2017 of 183,000 boe/d and led by new locations and achieved record 2P reserves of dispositions…
  6. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 6
    Organic Reserves Growth in 2017 Leading to Over 1 Billion boe Corporate Presentation Organic Reserves Growth Added 98 MMboe of 2P organic reserves to reach over 1 billion boe 800 (Cumulative) Organically replaced 152% of 2017…
  7. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 7
    Fifth Consecutive Year of Waterflood Reserves Additions Corporate Presentation Waterflood additions in 2017 represent 18% of 2P organic reserves growth across the company Low 2P F&D cost of 10.24/boe in the Viewfield Bakken…
  8. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 8
    Market Access Corporate Presentation Significant Light-Oil Multiple Infrastructure Exposure Takeaway Options Ownership Crescent Point Energy 8
  9. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 9
    Market Access and Pricing Advantage Corporate Presentation Utah North Dakota Significant light-oil production MSB/MSW Light-Oil (80%) Minimal (20%) exposure to LSB WCS / medium gravity oil Edmonton FOS Medium Oil (20%)…
  10. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 10
    Uinta Basin: Marketing Corporate Presentation Uinta Basin Production Rail infrastructure provides additional 120,000 Previous refinery 70,000 bopd of takeaway capacity including expansion plans CPG facilities (expandable to…
  11. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 11
    Financial Strategy Corporate Presentation Strong Capital Risk Management Financial Discipline Allocation Crescent Point Energy 11
  12. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 12
    Life Cycle of Core Resource Plays Corporate Presentation Medium-Growth / High-Growth Phase Free Cash Flow Phase Development Phase 2017 & 2018 2017 & Lower decline, 2018 increase recoveries 2018 Improve efficiencies,…
  13. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 13
    Commodity Hedging Strategy Corporate Presentation 80,000 50% Oil Hedges 90.00 H1 2018 70,000 41% 60,000 H2 2018 80.00 17% Oil Hedge Volume (bbl/d) 50,000 H1 2019 CAD 40,000 70.00 30,000 20,000 60.00…
  14. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 14
    Balancing Cash Outflows with Inflows Corporate Presentation NET DISPOSITIONS 2018 DIVIDENDS Total Payout CAPITAL FUNDS FROM 99% 1 (Excludes impact of potential EXPENDITURES OPERATIONS dispositions during 2018) 2016 2018…
  15. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 15
    5-Year Organic Growth Plan Corporate Presentation Production by Total Payout (%) Scenario Capital Expenditures & Net Debt/Funds Flow by Total Payout (%) Scenario 350,000 3,500 2.5 Net Debt to Funds Flow 3,000 2.0…
  16. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 16
    Corporate Returns Corporate Presentation 2018E ROACE at Various Capital Base Assumptions Go-Forward Returns (US55 WTI) (US50 US60 WTI) Current Capital Base Adjusted Capital Base Facilities (Based on Sproule Deck) (US55 WTI…
  17. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 17
    Investment Thesis Corporate Presentation Scaleable Economic Growth Value Creators Financial Discipline Scaleable organic growth: Knowledge-first culture and data Non-core asset dispositions and a 27 billion barrels OOIP, driven…
  18. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 18
    Area Summaries 18 Crescent Point Energy Corporate Presentation
  19. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 19
    Uinta Basin High-Growth Resource Play Corporate Presentation Strong Well Large OOIP Basin High-Quality Economics With with Multi-Zone Light Crude Significant Potential Productivity Crescent Point Energy 19
  20. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 20
    Uinta Basin: Positioned For Growth Corporate Presentation 2018 Production 25,000 boe/d OOIP (bbls) 8.5 billion Net Acres 300,000 Net Risked Hz Inventory 850 75 miles 2017 Success 2018 Priorities Consolidated 80,000 net…
  21. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 21
    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…
  22. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 22
    Uinta Basin: CPG Progression Overview Corporate Presentation 2013 - 2018 Increased capital spending 20% of corporate capital allocation in 2018 (14% in 2013) and 30 Hz wells in 2018 program (0 in 2013) Horizontal development…
  23. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 23
    Uinta Basin: Horizontal Well Progression by Zone Corporate Presentation Castle Peak Uteland Butte 100,000 70,000 60,000 50,000 80,000 40,000 Boe Gen 1 Frac (1-mile) 30,000 Gen 2 Frac (1-mile) 20,000 2017 (1-mile) Gen 2…
  24. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 24
    Williston Basin & SW Saskatchewan Low-Risk Production Corporate Presentation Largest Unconventional Multi-Zone Free Cash Flow Waterflood Growth Potential Programs Crescent Point Energy 24
  25. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 25
    Williston Basin Corporate Presentation 2017 Success Added new locations across multiple zones (step-out, down-spacing, etc.) Added 500 net sections in Flat Lake and North Dakota targeting multiple zones Proved oil productivity…
  26. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 26
    Waterflood Leaders: Realizing Gains from Waterflood Expertise Corporate Presentation ICD improves recovery factor by controlling flow and creating even INJECTION CONTROL DEVICE (ICD) water distribution through sleeves (50 ICDs…
  27. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 27
    SW Saskatchewan Corporate Presentation 2017 Success Added locations in the Shaunavon play due to a successful step-out program and advancement in new technology (i.e. cemented liners) SK Viking Added new infrastructure in…
  28. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 28
    Appendix 29 Crescent Point Energy Corporate Presentation
  29. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 29
    Capital Markets Summary Corporate Presentation CPG (TSX and NYSE) Trading Price (Feb 23, 2018) C9.54 (TSX), US7.52 (NYSE) Shares Outstanding 549.4 million Average Daily Trading Volume 7.5 million Dividend (Yield) C0.03 per…
  30. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 30
    2018 Capital Budget and Production Growth Corporate Presentation 2018 Guidance Production Growth 200,000 Capital Expenditures ( millions) 1,800 Drilling and Development (%) 89% 190,000 Production (Boe/d) Facilities and…
  31. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 31
    2018 Budget: Balanced Growth Across Core Areas Corporate Presentation Williston Basin Uinta Basin 120,000 30,000 Production (Boe/d) Production (Boe/d) 100,000 25,000 80,000 20,000 2017 Exit 2018 Exit 2017 Exit 2018…
  32. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 32
    Proven Track Record Corporate Presentation OOIP 2P Reserves 30.0 1,000 25.0 800 20.0 600 Billion Bbls MMboe 15.0 400 10.0 5.0 200 Historical - per-share growth + - 2002 2003 2004 2005 2006 2007 2008…
  33. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 33
    Balance Sheet Strength Corporate Presentation Debt Composition (CAD) as of Dec 31, 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…
  34. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 34
    Uinta Inventory Growth Significantly Increases Productive Capacity Corporate Presentation Total Corporate Inventory Productive Capacity (IP30) 3.0 MM boe/d Doubled average IP30 rate per well of corporate inventory vs. prior…
  35. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 35
    Economics by Play Corporate Presentation 55 WTI Economics Type Well (EUR) NPV 10% IRR Payout Williston Basin Cost per well (MM) (mbbl) (MM) (%) (months) Viewfield Bakken 50 125 1.4 0.4 3.4 33 239 24 9 Flat Lake Torquay 100…
  36. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 36
    Example of CPG Resource Play vs. Oil Sands Projects Corporate Presentation F&D Cost Project IRR Payback Long-Term (/Boe) (%) (Years, Undisc.) Decline Rate CPG RESOURCE PLAY (Incl. Waterflood) Highest Quickest Low Low-Medium…
  37. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 37
    Significant Reserves Growth Corporate Presentation Estimated Initial 2P Current 2P Total 2P Increase In Increase In Production to Property Reserves Reserves Recovery 2P Reserves Reserves Date (Mboe) (Mboe) (Mboe) (Mboe) (%)…
  38. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 38
    Climate Change Initiatives Corporate Presentation Green Energy Projects (Completed/In Progress) Solar Facilities Fuel Switching Solar Field Offices Propane Fleet Vehicles Expected to reduce CO2 emissions Flare & Vent…
  39. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 39
    Climate Change Initiatives: Emissions Reduction Corporate Presentation Crescent Point continually invests in facilities, pipelines and new technologies to conserve gas and reduce emissions cost effectively and efficiently 0.14…
  40. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 40
    Expanding U.S. Presence Corporate Presentation U.S. Share Ownership 90,000 U.S. Production 35% 160 30% 30% 140 25% 30% 25% 75,000 of total US owned shares (millions) % of total corporate production 120 % of total…
  41. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 41
    High Employee Engagement Contributes to Corporate Presentation Strong Corporate Governance 11th annual employee survey delivered to all field and office staff (81% or 941 responded in 2017) measures perception of management…
  42. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 42
    Innovation Driven by Knowledge First Culture Corporate Presentation Crescent Point actively participates in preparation and presentation of industry papers which highlights our teams technical expertise Publications to Date…
  43. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 43
    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…
  44. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 44
    Entrepreneurial Culture Drives Low G&A Corporate Presentation We manage our compensation costs to a competitive level vs our peers Our philosophy is to pay-for-performance under a plan that is: Aligned Accountable Balanced…
  45. March 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 45
    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…

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