Skip to main content 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. | Shale Experts
Loading...
Database
Slide Database

1Q 2018 Earnings Presentation – Crescent Point Energy Corp.

Crescent Point Energy Corp. · May 3, 2018 · 46 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. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 1
    Corporate Presentation May 2018 Knowledge Innovation & Value First Culture Technology Leaders Creators
  2. 1Q 2018 Earnings 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. 1Q 2018 Earnings 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. 1Q 2018 Earnings 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. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 5
    Leading Industry Netback with Sensitivity to Rising WTI Prices Corporate Presentation Every US5/bbl WTI increase generates 250MM in 35 annual funds flow for CPG 30 25 20 /boe 15 10 5 0 Crescent Point…
  6. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 6
    Execution in 2018 Corporate Presentation Exceeded Finalizing Reduced capital Q1 production targets; 225 million expenditures 2018 expect Q2 production while maintaining disposition production guidance of non-core assets of…
  7. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 7
    Financial Strategy Corporate Presentation Strong Capital Risk Management Financial Discipline Allocation Crescent Point Energy 7
  8. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 8
    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,…
  9. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 9
    Commodity Hedging Strategy Corporate Presentation Oil Hedges 55% 56% 44% 90,000 Q2 2018 H2 2018 H1 2019 90.00 80,000 28% 70,000 Q3 2019 80.00 Oil Hedge Volume (bbl/d) 60,000 CAD 50,000 70.00 40,000 30,000…
  10. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 10
    Balancing Cash Outflows with Inflows Corporate Presentation EXPECTED NET DISPOSITIONS 2018 Total Outflows vs. Inflows…
  11. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 11
    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 2.0 300,000…
  12. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 12
    Focused Capital Allocation & High-Return Drilling Program Corporate Presentation 2018 Capital Allocation by Area 5% Focused: 95% of capital allocated to 3 core areas 20% 20% High-Return Drilling Program: 57% 20% Breakeven…
  13. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 13
    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…
  14. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 14
    Environmental Strategy Corporate Presentation Climate Change Emissions Green Energy Initiatives Fund Reduction Pilots Crescent Point Energy 14
  15. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 15
    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 Emissions Intensity 0.12…
  16. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 16
    Green Energy Projects Corporate Presentation Solar Facilities Fuel Switching Solar Field Offices Propane Fleet Vehicles Expected to reduce CO2 emissions Flare & Vent Power Regenerative Power Crescent Point Energy…
  17. 1Q 2018 Earnings 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. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 18
    Area Summaries 18 Crescent Point Energy Corporate Presentation
  19. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 19
    East Shale Duvernay: Favourable Geology with Large OOIP Corporate Presentation East Shale Montney Eagle Ford STACK Bakken Duvernay Upper Bakken Meramec Upper Three Forks Upper Lower Meramec Upper Lower Lower 10 - 20…
  20. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 20
    East Shale Duvernay Corporate Presentation Large OOIP with significant running room 355,000 net acres at a low entry cost of 315/acre Knob Hill High impact wells Participated in 2 (gross) non-operated wells. The first well…
  21. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 21
    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 21
  22. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 22
    Uinta Basin: Multi-zone Potential and Large OOIP Corporate Presentation Midland Uinta Upper Garden Gulch Spraberry Douglas Creek 2018 Production 25,000 boe/d Middle OOIP (bbls) 8.5 billion Black Shale Spraberry Net…
  23. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 23
    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) 5-Year Development…
  24. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 24
    Uinta Basin: Horizontal Well Progression by Zone Corporate Presentation Castle Peak Uteland Butte 80,000 80,000 60,000 Boe 60,000 Gen 1 Frac (1-mile) 40,000 Gen 2 Frac (1-mile) Gen 2 Frac (2-mile) 20,000 Gen 1 Frac…
  25. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 25
    Uinta Basin: Stacked Horizontal Test Results Corporate Presentation Successfully completed first stacked Hz development targeting Castle Peak, Uteland Butte and Wasatch zones Recently completed second stacked Hz development…
  26. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 26
    Williston Basin & SW Saskatchewan: Low-Risk Production Corporate Presentation Largest Unconventional Multi-Zone Free Cash Flow Waterflood Growth Potential Programs Crescent Point Energy 26
  27. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 27
    Williston Basin Corporate Presentation 2018 Priorities Commission infrastructure projects to accommodate future growth Advance pad drilling in North Dakota and Flat Lake area to improve efficiencies Expand Bakken and Flat Lake…
  28. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 28
    Waterflood Leaders: Realizing Gains from Technical Expertise Corporate Presentation ICD improves recovery factor by controlling flow and creating even water distribution through sleeves INJECTION CONTROL DEVICE (ICD) ICD pilots…
  29. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 29
    Fifth Consecutive Year of Waterflood Reserves Additions Corporate Presentation Waterflood additions in 2017 represented 18% of 2P organic reserves growth across the company Low 2P F&D cost of 10.24/boe in the Viewfield Bakken…
  30. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 30
    SW Saskatchewan Corporate Presentation 2018 Priorities Increase free cash flow generation SK Viking Advance waterflood program in Shaunavon and optimize pilots in the Viking Continue step-out program to extend economic…
  31. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 31
    Market Access Corporate Presentation Significant Light Oil Multiple Infrastructure Exposure Takeaway Options Ownership Crescent Point Energy 31
  32. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 32
    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%)…
  33. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 33
    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…
  34. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 34
    Appendix 35 Crescent Point Energy Corporate Presentation
  35. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 35
    Capital Markets Summary Corporate Presentation CPG (TSX and NYSE) Trading Price (Apr 27, 2018) C11.42 (TSX), US8.80 (NYSE) Shares Outstanding 552.8 million Average Daily Trading Volume 8.4 million Dividend (Yield) C0.03 per…
  36. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 36
    Expanding U.S. Presence Corporate Presentation U.S. Share Ownership U.S. Production 90,000 35% 160 25% 30% 24% 140 75,000 30% % of total corporate production % of total shares outstanding of total US shares…
  37. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 37
    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…
  38. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 38
    Balance Sheet Strength Corporate Presentation Debt Composition (CAD) as of Mar 31, 20181 Net Debt to Funds Flow From Operations 4.0x 1.4B Cash & 1.9B Unutilized 3.0x Senior Credit Guaranteed Capacity Notes* 2.0x 2.2B…
  39. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 39
    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…
  40. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 40
    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…
  41. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 41
    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…
  42. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 42
    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) (%)…
  43. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 43
    Governance and Compensation Corporate Presentation 2013 2018 2019 Other key diversity enhancements: 7 new 1 new International experience independent independent Industry members members to be Gender since 2014 added by…
  44. 1Q 2018 Earnings 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 Per…
  45. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 45
    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…
  46. 1Q 2018 Earnings Presentation – Crescent Point Energy Corp. – slide 46
    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…

From the store

Browse maps, data & reports in the Shale Experts store