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Corporate Presentation – Crew Energy Inc.

Crew Energy Inc. · Nov 14, 2018 · 27 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. Corporate Presentation – Crew Energy Inc. – slide 1
    Focus on Value Creation November 2018
  2. 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. Corporate Presentation – Crew Energy Inc. – slide 3
    2018 GUIDANCE CAPEX approximates funds flow with condensate focus Guidance Revised Guidance YTD Actuals (Sept 30, 2018) Cash Flow (CF) (mm) 80 92 68 Net Capex (mm) 80-85 90-95 60 Ending net debt (mm) 348 342 333 Debt to annualized…
  4. Corporate Presentation – Crew Energy Inc. – slide 4
    PRODUCTION GROWTH Focus on condensate growth 28,000 25,270 25,939 24,000 23,251 2,699 23,583 23,680 2,617 Crew Total Corporate Volumes (boe/d) 2,102 2,304 2,077 Field Netbacks(3) per 20,468 boe by Product Q3 20,000 1,550…
  5. 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…
  6. Corporate Presentation – Crew Energy Inc. – slide 6
    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…
  7. 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) 14,000 Crew has 12,000 282,000 10,000 MontneyAcres…
  8. Corporate Presentation – Crew Energy Inc. – slide 8
    CONVERTING RESOURCE TO PRODUCTION & RESERVES At a low cost 400.0 P+P Reserves(2) (MMBOE) 370.2 Montney Organic Production Growth(1) (BOE/D) Forecast 24,000 350.0 323.9 Natural Gas boepd 22,000 300.0 20,000 NGLs boepd Liquids…
  9. Corporate Presentation – Crew Energy Inc. – slide 9
    CREW MONTNEY STRATIGRAPHIC STACK 2 HZ Wells 4 HZ Wells 3 HZ Wells 81 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 51 3 B 2 9 3…
  10. 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. 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. 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…
  13. Corporate Presentation – Crew Energy Inc. – slide 13
    EXCEPTIONAL OPERATIONAL PERFORMANCE Pacesetter well performance on first ERH pad Costs per Lateral Length Continuing to Improve Drilling Days vs Depth 1,200 Days 0 4 8 12 16 0 1,000 35%2016 - YTD 18 2018 YTD vs 2016 / 2017…
  14. Corporate Presentation – Crew Energy Inc. – slide 14
    OTHER OPPORTUNITIES Attachie, Groundbirch and Tower development B13-26 Pad 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 Pad Over-pressured 1.5 - 1.8x with…
  15. Corporate Presentation – Crew Energy Inc. – slide 15
    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…
  16. Corporate Presentation – Crew Energy Inc. – slide 16
    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 *…
  17. Corporate Presentation – Crew Energy Inc. – slide 17
    MARKET DIVERSIFICATION Expanding exposure to higher-priced hubs outside of Canada(2) Q1 2018 Q2 & Q3 2018 Q4 2018 (1) 2019 3% 6% 5% 9% 6% 18% 13% 15% Chicago 3% Dawn(1) 16% 19% Malin(1) 41% 38% 8% Nymex 12% Sumas(1)…
  18. Corporate Presentation – Crew Energy Inc. – slide 18
    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…
  19. Corporate Presentation – Crew Energy Inc. – slide 19
    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…
  20. Corporate Presentation – Crew Energy Inc. – slide 20
    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…
  21. Corporate Presentation – Crew Energy Inc. – slide 21
    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…
  22. Corporate Presentation – Crew Energy Inc. – slide 22
    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…
  23. Corporate Presentation – Crew Energy Inc. – slide 23
    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…
  24. Corporate Presentation – Crew Energy Inc. – slide 24
    APPENDIX
  25. Corporate Presentation – Crew Energy Inc. – slide 25
    2018 CAPEX PROGRAM & FORECAST Hedging Summary as of November 9, 2018 2018 Volume Period Derivative Reference Price Cash Flow (CF) (mm) 92 Natural Gas Net Capex (mm) 90-95 2,500 GJ/Day 2018 Swap AECO C2.62/GJ Year-end net debt (mm)…
  26. Corporate Presentation – Crew Energy Inc. – slide 26
    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…
  27. Corporate Presentation – Crew Energy Inc. – slide 27
    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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