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January 2019 Corporate Presentation – Crew Energy Inc.

Crew Energy Inc. · Jan 14, 2019 · 25 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. January 2019 Corporate Presentation – Crew Energy Inc. – slide 1
    Focus on Value Creation January 2019
  2. January 2019 Corporate Presentation – Crew Energy Inc. – slide 2
    ABOUT CREW (TSX: CR) Liquids-focused, NE BC Montney producer Large, contiguous land base with a material resource 16 billion boe Access to diversified markets with operated and growing infrastructure footprint, increasing liquids…
  3. January 2019 Corporate Presentation – Crew Energy Inc. – slide 3
    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…
  4. January 2019 Corporate Presentation – Crew Energy Inc. – slide 4
    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…
  5. January 2019 Corporate Presentation – Crew Energy Inc. – slide 5
    CONVERTING RESOURCE TO PRODUCTION & RESERVES At a low cost P+P Reserves(2) (MMBOE) Montney Organic Production Growth(1) (BOE/D) Forecast 400 22,000 Liquids mmbbls 370.2 Natural Gas boepd 20,000 350 Gas mboe 323.9 NGLs bopd 18,000…
  6. January 2019 Corporate Presentation – Crew Energy Inc. – slide 6
    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…
  7. January 2019 Corporate Presentation – Crew Energy Inc. – slide 7
    STABLE PRODUCTION BASE = Free cash flow at Septimus Long-range growth plan forecasts W. Septimus & 4.49 96MM Free cash flow forecast 16 19(2) 5.00 Groundbirch generating free cash flow in excess of 2X Septimus from additional…
  8. January 2019 Corporate Presentation – Crew Energy Inc. – slide 8
    ULTRA CONDENSATE-RICH (UCR) AREA Focus at Greater Septimus Focus on UCR development Condensate ratios of 75 - 250 bbls/mmcf in area UCR Area 79% IRR at flat US3.00/MMBtu NYMEX & Crew 7-30 Pad IP 60: 5 well average: Crew 3-32 Pad…
  9. January 2019 Corporate Presentation – Crew Energy Inc. – slide 9
    EXCEPTIONAL OPERATIONAL PERFORMANCE Pacesetter well performance on first ERH pad Costs per Lateral Length Continue to Improve Drilling Days vs Depth Days 1,200 0 4 8 12 16 0 1,000 34% 2016 - 2018 500 1000 2018 vs 2016 /…
  10. January 2019 Corporate Presentation – Crew Energy Inc. – slide 10
    UCR COMPLETION EVOLUTION Positive early results Initial 30 Day Condensate 25,000 1,800 m 20,000 Condensate Sales (bbl per well) Montney 15-20 Pad, 3 wells 15,000 3 well rate 4,584 boe/d Per well average: 1,528 boe/d…
  11. January 2019 Corporate Presentation – Crew Energy Inc. – slide 11
    WEST SEPTIMUS: ULTRA CONDENSATE-RICH Compelling IRRs and robust NPVs of ERH wells support continued development with low gas prices Rate of Return Sensitivities(1) to WTI Pricing (US/bbl) Natural Gas: US3.00/MMBtu NYMEX, 160%…
  12. January 2019 Corporate Presentation – Crew Energy Inc. – slide 12
    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…
  13. January 2019 Corporate Presentation – Crew Energy Inc. – slide 13
    OTHER OPPORTUNITIES Attachie, Groundbirch, Monias, and Tower development B13-26 Pad CGR: 350 bbls/mmcf 6 Miles Crew 10-22 10.5 mmcf/d IP30: 665 bbls/d condy extreme overpressured ATTACHIE 4 fracs 13-14 Pad Over-pressured 1.5 -…
  14. January 2019 Corporate Presentation – Crew Energy Inc. – slide 14
    MARKET DIVERSIFICATION Expanding exposure to higher-priced hubs outside of Canada(2) Q1 2018 Q2 & Q3 2018 Q4 2018(1) 2019 3% 6% 4% 9% 10% 6% 18% 15% Chicago 4% Dawn(1) 16% 19% Malin(1) 41% 8% 38% Nymex 12% 15% Sumas(1)…
  15. January 2019 Corporate Presentation – Crew Energy Inc. – slide 15
    PRODUCTION AND MARKET DIVERSIFICATION Increasing condensate production and greater exposure to US Nat Gas markets Q3 2018 Production Q3 2018 Revenue(1) Q3 2018 Operating Netback(1) 9% 12% 20% 16% 44% 48% 32% 44% 75% Est. Q4…
  16. January 2019 Corporate Presentation – Crew Energy Inc. – slide 16
    ENVIRONMENTAL LEADERSHIP IS A PRIORITY Recycled Water Used for Hydraulic Fracturing (%) Hazardous Waste Recycling Avg Per Year (2015-2017) 100 95% 80 60 50% 67% 61% 72 Tonnes Of waste diverted from landfills BC AB 19…
  17. January 2019 Corporate Presentation – Crew Energy Inc. – slide 17
    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…
  18. January 2019 Corporate Presentation – Crew Energy Inc. – slide 18
    IMPORTANCE OF CANADIAN ENERGY GLOBALLY Canada is the 4th largest oil, liquids and gas producing country in the world 16 Oil & Liquids Production (2017) Natural Gas Production (2017) 800 14 700 12 600 Billions of cubic metres…
  19. January 2019 Corporate Presentation – Crew Energy Inc. – slide 19
    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…
  20. January 2019 Corporate Presentation – Crew Energy Inc. – slide 20
    APPENDIX
  21. January 2019 Corporate Presentation – Crew Energy Inc. – slide 21
    2019 CAPEX PROGRAM & FORECAST 2019 Cash Flow (CF) (mm) 95-105 Hedging Summary as of December 10, 2018 Net Capex (mm) 95-105 Volume Period Derivative Reference Price Year-end net debt (mm) 342 Natural Gas Assumptions: 17,500 mmbtu/Day…
  22. January 2019 Corporate Presentation – Crew Energy Inc. – slide 22
    PROCESS AND TRANSPORTATION CAPACITY 275 mmcf/d takeaway capacity with 325 mmcf/d of processing 350,000 PROCESSING TRANSPORTATION 300,000 Groundbirch Facility (Proposed) 250,000 120 mmcf/d 200,000 TCPL/Nova 60 mmcf/d firm…
  23. January 2019 Corporate Presentation – Crew Energy Inc. – slide 23
    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 3.00 contract portfolio Natural Gas Prices (C/MCF)…
  24. January 2019 Corporate Presentation – Crew Energy Inc. – slide 24
    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…
  25. January 2019 Corporate Presentation – Crew Energy Inc. – slide 25
    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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