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September 2018 Corporate Presentation – Crew Energy Inc.

Crew Energy Inc. · Sep 10, 2018 · 26 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. September 2018 Corporate Presentation – Crew Energy Inc. – slide 1
    Focus on Value Creation September 2018
  2. September 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. September 2018 Corporate Presentation – Crew Energy Inc. – slide 3
    2018 GUIDANCE CAPEX Approximates Funds Flow with Condensate Focus Guidance Revised Guidance YTD Actuals (June 30, 2018) Cash Flow (CF) (mm) 80 90 48 Capex (mm) 80-85 80-85 36 Year-end net debt (mm) 348 325 329 Debt to annualized Q4…
  4. September 2018 Corporate Presentation – Crew Energy Inc. – slide 4
    PRODUCTION GROWTH Focus on Condensate Growth 28,000 25,939 25,270 24,000 23,251 2,699 23,583 2,617 Volume Growth 2,304 Q2 18 over Q2 17: Crew Total Corporate Volumes (boe/d) 20,468 2,102 20,000 1,550 +49% Condensate…
  5. September 2018 Corporate Presentation – Crew Energy Inc. – slide 5
    SIGNIFICANT LAND POSITION Acreage prospectivity & land value affords material optionality Montney (2007) Montney (2010) Montney (2018) Value Production Land Date Area Divested (mm) (boe/d) (acres) Apr 2010 Edson Cardium 126 1,700…
  6. September 2018 Corporate Presentation – Crew Energy Inc. – slide 6
    CONVERTING PROSPECTIVE LAND TO RESOURCE Montney is a siltstone, not a shale Montney Attributes: Flatrock Exceptionally thick: up to 1,000 feet Permeability 20 - 80x greater than comparable resource plays in North America Attachie…
  7. September 2018 Corporate Presentation – Crew Energy Inc. – slide 7
    EXCEPTIONAL VALUE FOR MONTNEY EXPOSURE RELATIVE TO PEER GROUP Significant & ideally positioned Montney acreage with attractive upside Enterprise Value to Net Montney Acres(1) 16,000 Crew has 282,000 14,000 12,000 10,000…
  8. September 2018 Corporate Presentation – Crew Energy Inc. – slide 8
    CONVERTING RESOURCE TO PRODUCTION & RESERVES 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…
  9. September 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. September 2018 Corporate Presentation – Crew Energy Inc. – slide 10
    STABLE PRODUCTION BASE = Free cash flow at Septimus Long-range growth plan forecasts W. Septimus & 92MM Free cash flow forecast 16 19(2) Groundbirch generating free cash flow in excess of 2X Septimus from additional liquids. (16/17…
  11. September 2018 Corporate Presentation – Crew Energy Inc. – slide 11
    WEST SEPTIMUS: ULTRA CONDENSATE-RICH Compelling IRRs and robust NPVs(2) of ERH wells support continued development with low gas prices Rate of Return Sensitivities(1) to AECO Pricing (/mcf) WTI: US70/bbl & FX: 0.78 140% 123% AECO…
  12. September 2018 Corporate Presentation – Crew Energy Inc. – slide 12
    ULTRA CONDENSATE-RICH (UCR) AREA Focus at Greater Septimus Focus on UCR development Condensate ratios of 75 - 250 bbls/mmcf in Crew 7-30 Pad IP 60: 5 well avg 350 bbls/d condy UCR Area area Crew 13-19 Pad 172 bbls/mmcf CGR 6 wells…
  13. September 2018 Corporate Presentation – Crew Energy Inc. – slide 13
    OTHER OPPORTUNITIES Attachie, Groundbirch and Tower development B13-26-84-24W6 6 Miles Crew 10-22 CGR: 350 bbls/mmcf 10.5 mmcf/d IP30: 665 bbls/d condy ATTACHIE Extreme overpressured 4 fracs 13-14-84-24W6 Over-pressured 1.5 -…
  14. September 2018 Corporate Presentation – Crew Energy Inc. – slide 14
    STRATEGICALLY POSITIONED LAND BASE NE BC Montney assets are ideally situated for export RAILWAY TRANSPORTATION Uniquely positioned land base with direct access to 3 existing export pipelines, potential LNG exports & rail…
  15. September 2018 Corporate Presentation – Crew Energy Inc. – slide 15
    PROCESS AND TRANSPORTATION CAPACITY 275 mmcf/d takeaway capacity with 325 mmcf/d of processing PROCESSING 350,000 TRANSPORTATION 300,000 Groundbirch Facility Additional capacity post-2021 is (Proposed) 120 mmcf/d 250,000 *…
  16. September 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% 9% 16% 15% 6% Chicago 19% 5% 4% Dawn 4% 19% Malin 15% 11% 41% 4% Nymex 8% 8% 8% Sumas 13% 13% 13%…
  17. September 2018 Corporate Presentation – Crew Energy Inc. – slide 17
    POSITIVE 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…
  18. September 2018 Corporate Presentation – Crew Energy Inc. – slide 18
    ENVIRONMENTAL LEADERSHIP IS A PRIORITY Recycled Water Used for Hydraulic Fracturing (%) Hazardous Waste Recycling Avg Per Year (2015-2017) BC AB 61% 95% 19 50% 2015 67% 2016 2017 2018 53 Tonnes 72 Tonnes Of waste diverted…
  19. September 2018 Corporate Presentation – Crew Energy Inc. – slide 19
    SIGNIFICANT REDUCTION IN FLARING Gas Plant Flaring Performance 0.25% Crew tests new wells inline Flare volume % of Plant Inlet 0.21% 0.20% whenever possible to reduce 0.18% volumes being flared 0.15% 0.15% 0.10% Average…
  20. September 2018 Corporate Presentation – Crew Energy Inc. – slide 20
    IMPORTANCE OF OIL & GAS TO CANADA Oil & gas is the largest contributor to Canadas GDP growth Canadas natural resources generate: 46% of all Canadian Manufacturing 58% of all Merchandise Exports 61% of all Business…
  21. September 2018 Corporate Presentation – Crew Energy Inc. – slide 21
    KEY MONTNEY BUILDING BLOCKS ARE IN PLACE 16+ billion boe TPIIP(1) with 5,380 identified locations(1) on 282,000 net acres Massive Montney Resource Only 13% of Upper Montney land has reserves assigned Condensate, Light Oil & Focus on…
  22. September 2018 Corporate Presentation – Crew Energy Inc. – slide 22
    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…
  23. September 2018 Corporate Presentation – Crew Energy Inc. – slide 23
    APPENDIX
  24. September 2018 Corporate Presentation – Crew Energy Inc. – slide 24
    2018 CAPEX PROGRAM & FORECAST 2018 Hedging Summary as of Sept 5, 2018 Cash Flow (CF) (mm) 90 Volume Period Derivative Reference Price Natural Gas Capex (mm) 80-85 2,500 GJ/Day 2018 Swap AECO C2.62/GJ Year-end net debt (mm) 325 22,500…
  25. September 2018 Corporate Presentation – Crew Energy Inc. – slide 25
    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…
  26. September 2018 Corporate Presentation – Crew Energy Inc. – slide 26
    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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