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March 2019 Corporate Presentation – Crescent Point Energy Corp.

Crescent Point Energy Corp. · Mar 7, 2019 · 29 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. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 1
    March 2019 CORPORATE PRESENTATION 2018 Results and Reserves Corporate Presentation CRESCENT POINT CRESCENT POINT
  2. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 2
    Highlights CORPORATE PRESENTATION Executeddisciplined Disposed assets transition plan Initiated with a 2018 capital program producing new team and a goal of becoming more 2018 7,000 boe/d for focused and efficient with a 38…
  3. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 3
    Reserves Added 92 MMboe of 2P reserves for total of 988 MMboe Historical F&D and Recycle Ratio (2P) Organically replaced 142% of 2018 production CORPORATE PRESENTATION 25 2.0x PDP recycle ratio of 1.5x (incl. FDC) and 1.5x (excl.…
  4. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 4
    Waterflood Reserves: Sixth Consecutive Year of Additions Waterflood reserves in 2018 represent 23% of 2P organic reserves additions across the Company CORPORATE PRESENTATION Low 2P F&D cost of 9.00 in the Viewfield Bakken resource…
  5. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 5
    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…
  6. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 6
    2019 Capital Allocation and Production Guidance Capital expenditures reduced 30% vs. 2018 Capital Annual Avg. CORPORATE PRESENTATION Expenditures Production Annual average production similar to the prior year 1.74B 30% 178…
  7. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 7
    Maintaining Flexibility in Various Commodity Price Environments CORPORATE PRESENTATION High-Cycle Returns-based capital allocation Live within cash flow Mid-Cycle Maintain or enhance balance sheet strength CRESCENT POINT…
  8. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 8
    Improving Cost Structure CORPORATE PRESENTATION Capital Costs G&A Operating Expenses 2019 budget incorporates capital cost Workforce reduction of 17% in Reduced controllable operating reductions realized in H2/18 of 5% 2018 with…
  9. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 9
    Enhancing Balance Sheet Strength Optimal Leverage CORPORATE PRESENTATION Scenarios (D/CF) Dispositions Low-Cycle D/CF 2.0X Currently marketing upstream conventional assets and progressing divestment of certain infrastructure…
  10. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 10
    Balance Sheet Composition and Debt Maturities Debt Composition (CAD) as of December 31, 2018 Near-Term Senior Guaranteed Notes CORPORATE PRESENTATION Maturity Schedule* 250 224 1.9B 1.6B Senior Cash & Guaranteed Unutilized…
  11. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 11
    Improving Capital Efficiencies and Returns Capital Efficiencies Full-Cycle IRR 30% ( 50 - 60 WTI) CORPORATE PRESENTATION 30,000 24% 20% Full-Cycle IRR (%) 20% /boe/d 25,000 14% 10% 12% 10% CRESCENT POINT…
  12. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 12
    CPG Realized Pricing vs. Alberta Producers Canadian oil differentials have recently been volatile CORPORATE PRESENTATION CPGs Q4/18 oil differential widened to 23/bbl, which was still stronger than the Edmonton Par differential…
  13. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 13
    Canadian Market Access and CPG Pricing Advantage CPG Corporate Realized Oil Pricing vs. AB Index Prices CORPORATE PRESENTATION 90 CAD/bbl 60 30 0 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Mar-19 Shaunavon Cromer CPG Realized…
  14. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 14
    Commodity Hedging Strategy CORPORATE PRESENTATION 80,000 90 51% Weighted Avg. Hedge Price Oil Hedge Volume (bbl/d) 60,000 80 (CDN/bbl) 32% 40,000 70 15% 20,000 60 CRESCENT POINT - 50 H1 2019 H2 2019…
  15. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 15
    Focused Asset Base CORPORATE PRESENTATION Key Focus Areas Three high-quality resource plays located in Saskatchewan Large resource in place with 13 billion bbl of OOIP Significant drilling inventory with 1.65 million net acres of…
  16. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 16
    Viewfield CORPORATE PRESENTATION Significant free cash flow generation Infill economics within top quartile of corporate inventory Increased waterflood scalability and cost optimizations through ongoing unitization and new…
  17. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 17
    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 NOI vs.…
  18. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 18
    Flat Lake Multi-zone resource play with organic drilling growth, strong reserves CORPORATE PRESENTATION upside and significant unbooked running room Near-term free cash flow neutral to slightly positive Opportunity to enhance…
  19. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 19
    Emerging Play: Uinta Basin Multi-zone resource play with a current focus on developing the Wasatch, Uteland Butte and Castle Peak zones CORPORATE PRESENTATION Strong well results to date, with an opportunity to enhance returns…
  20. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 20
    Early-Stage Play: East Shale Duvernay CORPORATE PRESENTATION Bigoray Strategically targeted oil window based on thicker pay, higher pressure, depth and maturity Drilled several wells (operated and non-operated) to date with…
  21. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 21
    CRESCENT POINT CORPORATE PRESENTATION Appendix October 2018
  22. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 22
    Capital Markets Summary and 2019 Guidance CORPORATE PRESENTATION Capital Markets Summary 2019 Guidance CPG (TSX and NYSE) Trading Price (Mar 1, 2019) C4.25 (TSX), US3.21 (NYSE) Capital Expenditures 1.20 - 1.30 billion Shares…
  23. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 23
    Governance: Board Renewal Process CORPORATE PRESENTATION 2013 2019 Post 2019 AGM Other key diversity enhancements: 8 new At least 2 new International experience independent independent Industry members members Gender since 2014…
  24. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 24
    Environmental Stewardship TRIF CORPORATE PRESENTATION (Recordable occurrences x 200,000/exposure hours) Environmental, Health and Safety (EH&S) Protection Policy reviewed and signed-off annually by President & CEO 0.8 EH&S…
  25. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 25
    Other Climate Change Initiatives CORPORATE PRESENTATION Solar Facilities Fuel Switching Reduce Emissions Generate Clean Power CRESCENT POINT Decrease Fuel Use Solar Field Offices Propane Fleet Vehicles Flare &…
  26. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 26
    Economics Potential to further improve economics due to improvements in cost structure and overall efficiencies CORPORATE PRESENTATION 50 WTI 55 WTI Type Well Cost per Payout Payout Key Focus Areas PI Ratio PI Ratio (EUR)…
  27. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 27
    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 &…
  28. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 28
    Transition Plan Deliverables Crescent Point has established the following deliverables CORPORATE PRESENTATION FOCUS ASSET BASE WITH FEWER Dispose select upstream assets to focus asset base OPERATING AREAS NET DEBT Net…
  29. March 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 29
    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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