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Q3 2018 Corporate Presentation – Crescent Point Energy Corp.

Crescent Point Energy Corp. · Oct 26, 2018 · 28 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. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 1
    October 2018 CORPORATE PRESENTATION Q3 2018 Corporate Presentation CRESCENT POINT CRESCENT POINT
  2. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 2
    Transition Plan & Q3 2018 Highlights CORPORATE PRESENTATION A more focused company Increase FCF Transition with a Target D/CF generation by focusing on Plan stronger balance of 1.3x return-based growth Outlook sheet CRESCENT…
  3. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 3
    Transition Plan to Create Shareholder Value CORPORATE PRESENTATION Reducing of Dispositions Operating Areas Focused Asset Base CRESCENT POINT Stronger Balance Sheet Decline Mitigation Cost Reductions Improved…
  4. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 4
    Focused Asset Base CORPORATE PRESENTATION Key Focus Areas Three high-quality resource plays located in Saskatchewan Free cash flow positive with strong economics (majority of wells payout…
  5. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 5
    Canadian Market Access and Pricing Advantage Canadian oil differentials have recently widened CORPORATE PRESENTATION CPG is less impacted than most commonly cited Canadian index prices due to: 90% of oil production either…
  6. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 6
    Viewfield Bakken CORPORATE PRESENTATION Significant free cash flow generation Infill economics within top quartile of corporate inventory Increased waterflood scalability through ongoing unitization and new injector…
  7. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 7
    Flat Lake CORPORATE PRESENTATION Multi-zone resource play with organic drilling growth Near-term free cash flow neutral to slightly positive Strong reserves upside with significant unbooked running room Opportunity to enhance…
  8. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 8
    Shaunavon Low-risk, high-return drilling inventory with reserves upside CORPORATE PRESENTATION Low operating costs with established infrastructure Free cash flow positive Consistent implementation of waterflood in both Lower…
  9. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 9
    Emerging Play: Uinta Basin CORPORATE PRESENTATION Multi-zone resource play with a current focus on developing the Wasatch, Uteland Butte and Castle Peak zones Strong well results to date with an opportunity to enhance returns…
  10. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 10
    Early Stage Play: East Shale Duvernay CORPORATE PRESENTATION Low cost of entry of 315 per acre with 355,000 net acres High-graded areas based on thicker pay, higher pressure, depth and maturity Strategically targeted oil window…
  11. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 11
    Targeting Improved Balance Sheet Strength CORPORATE PRESENTATION Low-Cycle D/CF 2.0X Tools for Balance Sheet Improvement: D/CF Mid-Cycle D/CF 1.5X 2.0X Q2 2018 1. Dispositions Target Identified 50,000 boe/d of upstream…
  12. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 12
    Cost Reduction Initiatives CORPORATE PRESENTATION Organizational Restructuring and G&A Savings (Complete) Workforce Reduction - Reduced workforce by 17% - Annual savings of 50 million Streamlined Executive Team and…
  13. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 13
    Improving Capital Efficiencies 30,000 CORPORATE PRESENTATION Focused on improving /boe/d 25,000 capital efficiencies and reducing sustaining capital 20,000 CRESCENT POINT 2016 2017 2018E 2019E 80,000 2016…
  14. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 14
    Free Cash Flow & Debt Adjusted Growth CORPORATE PRESENTATION Uses of Funds Flow Debt and Dividend Adjusted Growth Free Increased debt-adjusted Other Cash return-based growth Opportunities Flow Free Cash Flow Additional return…
  15. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 15
    Transition Plan Deliverables Crescent Point has established the following deliverables over the next 12 to 24 months CORPORATE PRESENTATION FOCUS ASSET BASE WITH FEWER Dispose select upstream assets to focus asset base OPERATING…
  16. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 16
    CRESCENT POINT CORPORATE PRESENTATION Appendix October 2018 17
  17. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 17
    Preliminary 2019 Guidance & Capital Markets Summary CORPORATE PRESENTATION Preliminary 2019 Guidance Capital Markets Summary CPG (TSX and NYSE) Capital Expenditures 1.55 billion to 1.60 billion Trading Price (Oct 19, 2018) C6.92…
  18. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 18
    Balance Sheet Composition CORPORATE PRESENTATION Debt Composition (CAD) as of September 30, 2018 Near-Term Senior Guaranteed Notes 250 Maturity Schedule* 224 200 185 1.9B 1.7B Senior Cash & 158 Million CAD Guaranteed…
  19. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 19
    Committed to Strengthening Balance Sheet CORPORATE PRESENTATION 400 300 Million CAD CRESCENT POINT New management team 200 focused on dispositions with proceeds directed to debt reduction vs. acquisitions…
  20. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 20
    Commodity Hedging Strategy 61% 49% 26% 10% CORPORATE PRESENTATION Q4 2018 H1 2019 H2 2019 Q1 2020 90,000 90.00 80,000 Oil Hedge Volume (bbl/d) 70,000 80.00 60,000 CAD per bbl 50,000 70.00 40,000 CRESCENT…
  21. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 21
    Criteria to Establish Focus Area CORPORATE PRESENTATION Returns Scalability Risk-adjusted returns High-quality drilling inventory Full-cycle and half-cycle economics Original Oil in Place (OOIP) Well payout, NPV, PI ratio, etc.…
  22. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 22
    Disciplined Capital Allocation Process CORPORATE PRESENTATION CONSISTENT LONG-TERM RISK-ADJUSTED CAPITAL & DECLINE DEVELOPMENT RETURNS ACTIVITY MITIGATION GOALS LEVELS CRESCENT POINT RISK-ADJUSTED CONSISTENT CAPITAL &…
  23. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 23
    Improving Returns CORPORATE PRESENTATION Facilities Infrastructure Monetization Reduced of Production Operating Areas Single-Well Optimization CRESCENT POINT Economics Disciplined Capital (Half-Cycle) Land &…
  24. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 24
    Decline Mitigation Benefits Challenges CORPORATE PRESENTATION Increase production, reserves, recovery factor Not widely understood by market Low F&D cost Sacrifice short-term production Increases NPV, high P/I ratio Takes time…
  25. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 25
    Post-Transition Plan Value Proposition CORPORATE PRESENTATION PRIOR TO TRANSITION TRANSITION PLAN POST TRANSITION Focus on volume growth Reducing of operating areas Focused asset base Acquisitions Upstream dispositions Stronger…
  26. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 26
    Governance: Board Renewal Process 2013 2018 2019 CORPORATE PRESENTATION Other key diversity enhancements: 7 new 2 new International experience independent independent Industry members members to be Gender since 2014 added by…
  27. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 27
    Definitions / Non-GAAP Financial Measures Type Wells CORPORATE PRESENTATION All type well information, including single-well economics presented herein has been prepared by qualified reserves evaluators in accordance with the COGE…
  28. Q3 2018 Corporate Presentation – Crescent Point Energy Corp. – slide 28
    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 Limited…

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