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October 2019 Corporate Presentation – Crew Energy Inc.

Crew Energy Inc. · Oct 10, 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. October 2019 Corporate Presentation – Crew Energy Inc. – slide 1
    Focus on Value Creation October, 2019 Developing our World-Class Montney Resource
  2. October 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(1) Access to diversified markets with operated and growing infrastructure footprint, increasing liquids…
  3. October 2019 Corporate Presentation – Crew Energy Inc. – slide 3
    LOW COST PRODUCTION & RESERVES ADDITIONS With increasing condensate 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…
  4. October 2019 Corporate Presentation – Crew Energy Inc. – slide 4
    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…
  5. October 2019 Corporate Presentation – Crew Energy Inc. – slide 5
    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…
  6. October 2019 Corporate Presentation – Crew Energy Inc. – slide 6
    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…
  7. October 2019 Corporate Presentation – Crew Energy Inc. – slide 7
    CREW MONTNEY STRATIGRAPHIC STACK 2 HZ Wells 4 HZ Wells 4 HZ Wells 94 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 64 3 B 2 9 3…
  8. October 2019 Corporate Presentation – Crew Energy Inc. – slide 8
    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 500 1,000 2019 vs 2016/2017 1000 1500 64% Depth (metres) 800 /lateral…
  9. October 2019 Corporate Presentation – Crew Energy Inc. – slide 9
    UCR COMPLETION EVOLUTION Positive early results 15-20 Pad UCR Wells Exceeding 300,000 bbl / Well Type Curve(2) West Septimus UCR 15-20 Pad(1)(3) 280,000 260,000 1,800 m Estimated Cumulative Sales Volume (boe) 240,000…
  10. October 2019 Corporate Presentation – Crew Energy Inc. – slide 10
    ULTRA CONDENSATE-RICH (UCR) AREA Focus at Greater Septimus Focus on UCR development Condensate ratios of 75 - 250 bbls/mmcf in area Crew 7-30 Pad (2016/17) 5 B zone well average IP90: 590 boe/d, UCR Area 249 bbls/d condy, 59 bbls/d…
  11. October 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: US2.40/MMBtu NYMEX, 120 FX:…
  12. October 2019 Corporate Presentation – Crew Energy Inc. – slide 12
    STABLE PRODUCTION BASE Field operating netback(4) Capex at Septimus 94MM Septimus Gas Production 6.00 60,000 100 4.78 5.00 90 4.49 Field operating netback(4) forecast 50,000 16 19(1) exceeds capex, Stable forecast declines of…
  13. October 2019 Corporate Presentation – Crew Energy Inc. – slide 13
    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…
  14. October 2019 Corporate Presentation – Crew Energy Inc. – slide 14
    MARKET DIVERSIFICATION Expanding exposure to higher-priced hubs outside of Canada(1) Q2 2019 Q3 - Q4 2019(1,2) 2020(1) 3% 5% 7% 21% 20% Chicago 18% Dawn(2) 3% 3% 15% Malin(2) 18% 17% NYMEX Henry Hub 8% AECO 5A Alliance ATP…
  15. October 2019 Corporate Presentation – Crew Energy Inc. – slide 15
    POSITIVE IMPACT OF GAS MARKET DIVERSITY Ideally positioned with access to 3 major export pipelines 4.00 3.50 Commencement of Alliance Pipeline service and initiation of diversified contract portfolio 3.00 Natural Gas Prices…
  16. October 2019 Corporate Presentation – Crew Energy Inc. – slide 16
    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…
  17. October 2019 Corporate Presentation – Crew Energy Inc. – slide 17
    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…
  18. October 2019 Corporate Presentation – Crew Energy Inc. – slide 18
    INNOVATION LEADS TO IMPROVED SAFETY & REDUCED EMISSIONS Identifying opportunities to improve efficiencies & reduce environmental impact Positive Impacts from Using Natural Gas in Positive Impacts from Shipping Drilling & Completions…
  19. October 2019 Corporate Presentation – Crew Energy Inc. – slide 19
    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…
  20. October 2019 Corporate Presentation – Crew Energy Inc. – slide 20
    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
  21. October 2019 Corporate Presentation – Crew Energy Inc. – slide 21
    www.crewenergy.com Appendix
  22. October 2019 Corporate Presentation – Crew Energy Inc. – slide 22
    2019 CAPEX PROGRAM & FORECAST 2019 Hedging Summary as of Oct 2, 2019 Volume Period Derivative Reference Price AFF(1) (mm) 75-85 Natural Gas Net Capex (mm) 75-85 25,000 mmbtu/Day 2019 Swap Chicago C3.53/mmbtu Assumptions: 7,500…
  23. October 2019 Corporate Presentation – Crew Energy Inc. – slide 23
    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…
  24. October 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. October 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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