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June 2019 Corporate Presentation – Crew Energy Inc.

Crew Energy Inc. · Jun 6, 2019 · 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. June 2019 Corporate Presentation – Crew Energy Inc. – slide 1
    Focus on Value Creation June, 2019 Developing our World-Class Montney Resource
  2. June 2019 Corporate Presentation – Crew Energy Inc. – slide 2
    CAUTIONARY STATEMENT, Contd Non-IFRS Measures Funds from Operations and Adjusted Funds Flow One of the benchmarks Crew uses to evaluate its performance is funds from operations and adjusted funds flow. Funds from operations and adjusted…
  3. June 2019 Corporate Presentation – Crew Energy Inc. – slide 3
    ABOUT CREW (TSX: CR) Liquids-focused, NE BC Montney producer Large, contiguous land base with a material resource 16 billion boe(1) Access to diversified markets with operated and growing infrastructure footprint, increasing liquids…
  4. June 2019 Corporate Presentation – Crew Energy Inc. – slide 4
    LOW COST PRODUCTION & RESERVES ADDITIONS At a low cost P+P Reserves(1) (MMBOE) Montney Organic Production Growth(2) (BOE/D) Focus on 450 Condensate bopd Light Oil bopd condensate Liquids mmbbls 411.0 22,000 NGLs bopd Natural Gas…
  5. June 2019 Corporate Presentation – Crew Energy Inc. – slide 5
    CONDENSATE PRODUCTION GROWTH Material leverage to condensate: a 1,000 bbls/d increase drives AFF increase of 25%(1) Crew Condensate Volume & Value Western Canada Condensate Continues to Increase Market Supply vs Demand(3) UCR 1P 2018…
  6. June 2019 Corporate Presentation – Crew Energy Inc. – slide 6
    SIGNIFICANT LAND POSITION Acreage prospectivity & land value affords material optionality Montney (2007) Montney (2010) Montney (2019) Value Production Land Date Area Divested (mm) (boe/d) (acres) Apr 2010 Edson (Cardium) 126…
  7. June 2019 Corporate Presentation – Crew Energy Inc. – slide 7
    OVER 100 TCFE OF TPIIP* ON CREW LANDS Montney is a siltstone, not a shale (*Total Petroleum Initially In Place) Montney Attributes: Exceptionally thick: up to 1,000 feet Permeability 20 - 80x greater than comparable Flatrock…
  8. June 2019 Corporate Presentation – Crew Energy Inc. – slide 8
    CREW MONTNEY STRATIGRAPHIC STACK 2 HZ Wells 4 HZ Wells 4 HZ Wells 93 HZ Wells 77 HZ Wells 10 HZ Wells West Portage Groundbirch Attachie West Septimus Septimus Tower Doig Upper Montney 9 1 AA 2 23 7 2 A 42 63 3 B 2 9 3…
  9. June 2019 Corporate Presentation – Crew Energy Inc. – slide 9
    OPTIMIZING DRILLING PERFORMANCE Cost per Lateral Length Continues to Improve Drilling Days vs Depth Days 1,200 35% 0 0 4 8 12 16 2016-2019 2019 vs 2016/2017 500 1,000 1000 1500 64% Depth (metres) 800 More lateral…
  10. June 2019 Corporate Presentation – Crew Energy Inc. – slide 10
    UCR COMPLETION EVOLUTION Positive early results West Septimus UCR 15-20 Pad(1)(2) 75,000 1,800 m Sales Condensate (bbls) 60,000 Montney 45,000 30,000 The total depth to (and thickness of) the Montney is not…
  11. June 2019 Corporate Presentation – Crew Energy Inc. – slide 11
    ULTRA CONDENSATE-RICH (UCR) AREA Focus at Greater Septimus Focus on UCR development Condensate ratios of 75 - 250 bbls/mmcf in area UCR Area Crew 3-32 Pad Crew 15-20 Pad 79% IRR at flat US3.00/MMBtu NYMEX & 5 wells drilled 5 wells…
  12. June 2019 Corporate Presentation – Crew Energy Inc. – slide 12
    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…
  13. June 2019 Corporate Presentation – Crew Energy Inc. – slide 13
    STABLE PRODUCTION BASE Field operating netback(4) Capex at Septimus 5.00 Septimus Gas Production 100 90 4.49 97MM 4.00 60,000 3.57 Field operating netback(4) forecast 50,000 Stable forecast declines of 80 16 19(1) exceeds…
  14. June 2019 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. June 2019 Corporate Presentation – Crew Energy Inc. – slide 15
    MARKET DIVERSIFICATION Expanding exposure to higher-priced hubs outside of Canada(1) 2018 Q1 2019 Q2 - Q4 2019(1,2) 5% 2% 4% 8% 17% 5% Chicago 28% Dawn(2) 17% Malin(2) 9% 34% 5% NYMEX Henry Hub 7% 15% Sumas(2) 2% AECO 5A…
  16. June 2019 Corporate Presentation – Crew Energy Inc. – slide 16
    POSITIVE IMPACT OF GAS MARKET DIVERSITY Ideally positioned with access to 3 major export pipelines 4.00 Commencement of Alliance Pipeline 3.50 service and initiation of diversified contract portfolio 3.00 Natural Gas Prices…
  17. June 2019 Corporate Presentation – Crew Energy Inc. – slide 17
    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 4 fracs 13-14 Pad ATTACHIE 7 well average: IP90…
  18. June 2019 Corporate Presentation – Crew Energy Inc. – slide 18
    WHAT IS CANADA DOING TO REDUCE EMISSIONS A LOT One LNG plant reduces CO2 emissions by If the world adopted Canadian environmental standards..(1) 60 to 90 MM tonnes / year (2), which is equal to: 23% 100% of all CO2 emissions in BC…
  19. June 2019 Corporate Presentation – Crew Energy Inc. – slide 19
    ENVIRONMENTAL LEADERSHIP IS A PRIORITY Recycled Water Used for Hydraulic Fracturing (%) Hazardous Waste Recycling Avg Per Year (2015-2018) 95% 100 93% BC AB 80 10 67% 60 40 50% 61% 45 Tonnes per year Diverted from landfills…
  20. June 2019 Corporate Presentation – Crew Energy Inc. – slide 20
    PROTECTING THE ENVIRONMENT IS GOOD BUSINESS Identifying opportunities to improve efficiencies & reduce environmental impact Positive Impacts from Using Natural Gas in Positive Impacts from Shipping Drilling & Completions Rather Than…
  21. June 2019 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 280,000 net acres Massive Montney Resource Only 13% of Upper Montney land has reserves assigned Condensate, Light Oil & Focus on…
  22. June 2019 Corporate Presentation – Crew Energy Inc. – slide 22
    Contact Info Suite 800, 250 - 5th Street SW Calgary, Alberta T2P 0R4 Telephone: (403) 266-2088 Email: investorcrewenergy.com Dale O. Shwed President & CEO John G. Leach Executive Vice President & CFO
  23. June 2019 Corporate Presentation – Crew Energy Inc. – slide 23
    www.crewenergy.com Appendix
  24. June 2019 Corporate Presentation – Crew Energy Inc. – slide 24
    2019 CAPEX PROGRAM & FORECAST 2019 Hedging Summary as of May 31, 2019 Volume Period Derivative Reference Price AFF(1) (mm) 95-105 Natural Gas Net Capex (mm) 95-105 25,000 mmbtu/Day 2019 Swap Chicago C3.53/mmbtu Assumptions: 7,500…
  25. June 2019 Corporate Presentation – Crew Energy Inc. – slide 25
    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…
  26. June 2019 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. June 2019 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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