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2Q 2019 Corporate Presentation – Crescent Point Energy Corp.

Crescent Point Energy Corp. · Jul 25, 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. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 1
    July 2019 CORPORATE PRESENTATION Q2 2019 Corporate Presentation CRESCENT POINT CRESCENT POINT
  2. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 2
    CRESCENT POINT CORPORATE PRESENTATION Q2 2019 Highlights 2
  3. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 3
    2019 Highlights CORPORATE PRESENTATION Excess cash flow to be allocated to 400 to 600 million Continue to of excess cash flow net debt reduction progress asset and expected in 2019 based on guidance at US55 - 60 WTI share…
  4. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 4
    Transition Plan to Create Shareholder Value CORPORATE PRESENTATION Reducing of Dispositions Operating Areas Focused Asset Base CRESCENT POINT Stronger Balance Sheet Decline Mitigation Cost Efficiencies Improved…
  5. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 5
    Disciplined Capital Allocation: Focus on Returns vs. Growth CORPORATE PRESENTATION Avg. Production WTI Adjusted Funds Flow (mboe/d) (US/bbl) (CDNMM) 68 182 500 504 172 60 CRESCENT POINT Q2 2018 Q2 2019 Q2 2018 Q2 2019…
  6. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 6
    Focusing our Asset Base with Key Criteria CORPORATE PRESENTATION Returns AB SK Scalability East Shale CRESCENT POINT Duvernay Shaunavon Free Cash Flow Viewfield Flat Lake Uinta Basin UT ND Market…
  7. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 7
    Improving Capital Efficiencies and Returns Capital Efficiencies Full-Cycle IRR 30% ( 50 - 60 WTI) CORPORATE PRESENTATION 30,000 24% Full-Cycle IRR (%) 20% 20% /boe/d 25,000 14% 10% 12% 10% CRESCENT POINT…
  8. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 8
    Improving Balance Sheet Strength CORPORATE PRESENTATION 5 2.5 Optimal Leverage Scenarios (D/CF) 4.5 4.4B 4.4B Low-Cycle 4 D/CF 2.0X 1.9 3.5 3.6B Mid-Cycle 3 D/CF 1.5X 2.5 4.4B 3.9B CRESCENT POINT High-Cycle 2…
  9. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 9
    Decline Rate Mitigation Improving Sustainability Viewfield Waterflood Example CORPORATE PRESENTATION Consistent advancement of waterflood programs in each of the Decline Rates key focus areas: Total Viewfield: 25% 4 Original…
  10. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 10
    Net Asset Value and Share Repurchase Program Net Asset Value Per Share CORPORATE PRESENTATION 20 Flat US55 US60 WTI 16 16.46 Initiated NCIB to purchase up to 7% of public float (38.4MM shares) 15% of NCIB complete…
  11. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 11
    Improving Cost Structure CORPORATE PRESENTATION Capital Costs G&A / Operating Expenses Realized 5% improvement in G&A savings of 10% capital costs since late 2018 Operating costs 5% below budget Realized capital cost…
  12. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 12
    Commodity Hedging Strategy 80,000 90 CORPORATE PRESENTATION 48% 42% Weighted Avg. Hedge Price 80 Oil Hedge Volume (bbl/d) 60,000 70 (CDN/bbl) 40,000 25% 60 50 20,000 40 CRESCENT POINT - 30 H2 2019 H1…
  13. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 13
    Maintaining Flexibility and Discipline in Various Commodity Price Environments CORPORATE PRESENTATION High-Cycle Priorities in All Commodity Price Environments Return-based capital allocation Live within cash flow and/or…
  14. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 14
    CRESCENT POINT CORPORATE PRESENTATION Appendix October 2018
  15. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 15
    Capital Markets Summary and Revised 2019 Guidance CORPORATE PRESENTATION Capital Markets Summary CPG (TSX and NYSE) 2019 Guidance Prior Revised Trading Price (July 19, 2019) C4.07 (TSX), US3.12 (NYSE) Capital Expenditures 1,200…
  16. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 16
    Net Debt Composition and Liquidity No Material Near-term Senior Note Debt Maturities* Significant liquidity (2.0B cash and unutilized credit capacity) 250 224 CORPORATE PRESENTATION Low cost of borrowing (hedged effective…
  17. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 17
    Viewfield Significant free cash flow generation CORPORATE PRESENTATION Infill economics within top quartile of corporate inventory Recently completed unitization of the fourth original waterflood unit Continue to pursue…
  18. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 18
    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 program NOI…
  19. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 19
    Flat Lake Multi-zone resource play with organic drilling growth, strong reserves CORPORATE PRESENTATION upside and significant unbooked running room Free cash flow positive at current strip prices Opportunity to enhance…
  20. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 20
    Emerging Play: Uinta Basin Multi-zone resource play with a current focus on developing the CORPORATE PRESENTATION Wasatch, Uteland Butte and Castle Peak zones Strong well results to date, with an opportunity to enhance returns…
  21. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 21
    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…
  22. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 22
    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…
  23. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 23
    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 Apr-19 Jun-19 Shaunavon Cromer CPG…
  24. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 24
    Governance: Full Board Renewal New chairman effective Sept. 2018 of Indp. Board Members Added 9 Robert Heinemann (former President & CEO of Berry Petroleum) CORPORATE PRESENTATION 6 3 new members added in 2019 John Dielwart…
  25. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 25
    Commitment to Environmental Protection CORPORATE PRESENTATION Environmental, Health and Safety (EH&S) Governance Policy reviewed and signed-off annually by President & CEO EH&S committee within the Board provides direction,…
  26. 2Q 2019 Corporate Presentation – Crescent Point Energy Corp. – slide 26
    Adoption of IFRS 16 Leases The company adopted IFRS 16 Leases standard on January 1, 2019: CORPORATE PRESENTATION This new accounting standard requires most lease contracts to be capitalized (on Balance Sheet) Accounting change…
  27. 2Q 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. 2Q 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. 2Q 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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