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March 2021 Corporate Presentation – Crew Energy Inc.

Crew Energy Inc. · Mar 16, 2021 · 38 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 2021 Corporate Presentation – Crew Energy Inc. – slide 1
    TSX: CR The best views come after the hardest climbs Corporate Presentation March 2021
  2. March 2021 Corporate Presentation – Crew Energy Inc. – slide 2
    Key Defined Terms BOE = Barrels of oil equivalent or BOEs1 AFF (Adjusted Funds Flow) Cash flow Free AFF = Adjusted Funds Flow less capital expenditures EBITDA = Calculated as consolidated net income before interest and financing…
  3. March 2021 Corporate Presentation – Crew Energy Inc. – slide 3
    TSX: CR Why Invest in Crew
  4. March 2021 Corporate Presentation – Crew Energy Inc. – slide 4
    TSX: CR Participating in the Energy Transition
  5. March 2021 Corporate Presentation – Crew Energy Inc. – slide 5
    Participating in the Energy Transition Natural Gas: Macro Set-up is Compelling and Supports Higher Pricing Clean-burning natural gas is increasingly replacing coal Energy production (AEO2020 Reference case) quadrillion British thermal…
  6. March 2021 Corporate Presentation – Crew Energy Inc. – slide 6
    Participating in the Energy Transition Natural Gas: Global Demand for Natural Gas Expected to Approximate Growth of Renewables Global Energy Mix Oil Coal Natural Gas Nuclear Hydro Biomass Other Renewables 120 100 8.5 % Increase…
  7. March 2021 Corporate Presentation – Crew Energy Inc. – slide 7
    TSX: CR Exceptional Value
  8. March 2021 Corporate Presentation – Crew Energy Inc. – slide 8
    Excellent Rock, Evolving Technologies and Superb Execution Yields Attractive Economics Reserve Assignment Comparison: 2014 vs 2020 9-5 ERH Wells Booking Comparison 1,2 17.02 PV10 (MM) 7.15 11.767 EUR (BCF) 5.417 3…
  9. March 2021 Corporate Presentation – Crew Energy Inc. – slide 9
    TSX: CR Strategic Growth Plan
  10. March 2021 Corporate Presentation – Crew Energy Inc. – slide 10
    Production Growth Increased Pace of Development to Capture Value From Stronger Commodities Futures Infrastructure Supports 100% Production Growth Robust Two-Year Plan Target Production Growth2 2020-2022 34 Plan to build on record…
  11. March 2021 Corporate Presentation – Crew Energy Inc. – slide 11
    Improving Margins Lowering per Unit Costs Steadily declining costs1 improve margins Increased production into available capacity 16 Optimizing production and infrastructure utilization enhances 25 % margins, increases AFF and…
  12. March 2021 Corporate Presentation – Crew Energy Inc. – slide 12
    AFF Growth Increased Pace of Development to Capture Value From Stronger Commodities Futures Target AFF1 Growth 2020-2022 Natural Gas Pricing Sensitivities2,3,4 160 225% 355 Increase from 135.0 335 2021 - 2022 Combined…
  13. March 2021 Corporate Presentation – Crew Energy Inc. – slide 13
    Advantageous Marketing Diversification Multiple Natural Gas Egress Options Provide Flexibility1 100% 90% 80% 70% Percentage Allocation 60% 50% 40% 30% 20% 10% 0% Q1 -2021 Q2 -2021 Q3 -2021 Q4 -2021 Q1 -2022 Q2…
  14. March 2021 Corporate Presentation – Crew Energy Inc. – slide 14
    Robust Natural Gas Hedging Underpinning AFF2 for Next 2 Years Hedging Critical to Protect the Balance Sheet and Capital Investment 2021 CR Natural Gas Hedging Position 200,000 2.80 approx. 50 % projected gas production…
  15. March 2021 Corporate Presentation – Crew Energy Inc. – slide 15
    TSX: CR Optionality to Raise Funds with Additional Transactions
  16. March 2021 Corporate Presentation – Crew Energy Inc. – slide 16
    Retaining Financial Flexibility Proven Track Record History of Selling Assets at Attractive Metrics 2020 Infrastructure Transactions Crew has sold 715 MM of assets and maintains optionality to Raised 70MM by selling 22% interest in…
  17. March 2021 Corporate Presentation – Crew Energy Inc. – slide 17
    Improved Leverage Metrics Potential Reduction in Leverage Metrics of 55% in 2 Years Right-Sizing the Balance Sheet Steadily Improving Debt Metrics 18,000 8.0 16,500 Based on forward commodity prices, 16,000 14,500 keeping…
  18. March 2021 Corporate Presentation – Crew Energy Inc. – slide 18
    TSX: CR Montney: World Class Resource
  19. March 2021 Corporate Presentation – Crew Energy Inc. – slide 19
    World-Class Resource With Excellent Market Access Among North American Basins Select Unconventional Plays in North America Montney Competitive Features Current Unconventional Shales and Tight Gas Plays Montney Formation is…
  20. March 2021 Corporate Presentation – Crew Energy Inc. – slide 20
    World-Class Resource Base Several Stratigraphic Benches for Future Drilling 2 HZ Wells 4 HZ Wells 4 HZ Wells 100 HZ Wells 77 HZ Wells 10 HZ Wells West Portage Groundbirch Attachie West Septimus Septimus Tower Doig Upper Montney 1…
  21. March 2021 Corporate Presentation – Crew Energy Inc. – slide 21
    West Septimus Offers Compelling Economics Drilling Focus at West Septimus Crew 3-32 Crew Montney Acreage 9-5 Liquids Rich Type Curve1,2 Completion Operations Crew 2021 Drilling Program 9,000 9-5 Type Well 100% WI Crew 10-14…
  22. March 2021 Corporate Presentation – Crew Energy Inc. – slide 22
    Ultra Condensate-Rich (UCR) Area Greater Septimus features West Septimus UCR 15-20 Pad5,6,7, 3-32 Pad 900 800 700 11 Months Sales Condensate (bpd) 600 Payout Dec 31th/20 500 Sproule Forecast8 400 300 200 100 0…
  23. March 2021 Corporate Presentation – Crew Energy Inc. – slide 23
    Septimus Stable Base Production Provides Source of Free AFF1 Field Operating Netback1 Capex at Septimus Septimus Gas Production 150 MM 100 4.78 5.00 60,000 90 4.50 4.49 Field operating netback1 16 20 exceeds capex2, providing…
  24. March 2021 Corporate Presentation – Crew Energy Inc. – slide 24
    Other Opportunities Attachie, Groundbirch and Tower Development 6 MILES ATTACHIE Over-pressured with liquids-rich natural gas Large pay thickness (1,000 ft. Upper + Lower Crew lease retention well Montney) High condensate rates…
  25. March 2021 Corporate Presentation – Crew Energy Inc. – slide 25
    Excellent Market Access NE BC Montney Assets are Ideally Situated with Access to Multiple Markets Crew Montney Land Base Features Crew Montney Land NGTL NGTL Proposed Existing access to three export pipelines Westcoast servicing…
  26. March 2021 Corporate Presentation – Crew Energy Inc. – slide 26
    TSX: CR Committed to ESG
  27. March 2021 Corporate Presentation – Crew Energy Inc. – slide 27
    Sustainability & ESG Focused Doing Whats Right Fostering a responsible culture prioritizing ESG initiatives Long-Term Sustainability Environmental Social Governance Enhancing our business to generate Responsible resource…
  28. March 2021 Corporate Presentation – Crew Energy Inc. – slide 28
    Environmental Leadership is a Priority Reducing Environmental Footprint While Remaining Focused on Returns Fresh Water Used for Hydraulic Fracturing (%) Gas Plant Flaring Performance Improving Environmental Performance Spill volume…
  29. March 2021 Corporate Presentation – Crew Energy Inc. – slide 29
    Safety & Social Impacts Are Top of Mind Crews Safety Performance: Crew Cares 1.5 Workforce TRIF* 0.82 350,000 2019 Peer Avg. Average Canadian homes annually 1.0 could be sourced from Crews 2019 Injury Frequency natural gas…
  30. March 2021 Corporate Presentation – Crew Energy Inc. – slide 30
    Responsible, Clean Energy Canada is the Country to Invest in for Responsible, Clean Energy Canada is a Top-Ranking Global Leader is ESG The importance of just one Canadian LNG project Canadian-sourced energy is in the worlds best…
  31. March 2021 Corporate Presentation – Crew Energy Inc. – slide 31
    We Are Shareholders & Bondholders Engaged management team and board with high insider ownership + 100 Women Represented Across Crews Workforce3 Over 100 meetings hosted by Crew management with investors or investment community…
  32. March 2021 Corporate Presentation – Crew Energy Inc. – slide 32
    TSX: CR Thank you Dale O. Shwed President & CEO John G. Leach Executive Vice President & CFO 800, 250 5th Street SW Calgary, Alberta T2P 0R4 crewenergy.com (403) 266-2088 investorcrewenergy.com
  33. March 2021 Corporate Presentation – Crew Energy Inc. – slide 33
    TSX: CR Appendix
  34. March 2021 Corporate Presentation – Crew Energy Inc. – slide 34
    About Crew (TSX: CR) Getting it Right CREW: INVESTMENT ATTRIBUTES A Team Working Together Strong liquidity profile to Achieve a Common Goal 264,600 net acres in the Montney 70% natural gas weighted production with optional condensate…
  35. March 2021 Corporate Presentation – Crew Energy Inc. – slide 35
    Reader Advisories
  36. March 2021 Corporate Presentation – Crew Energy Inc. – slide 36
    Non-IFRS Measures General References are made in this presentation to use terms that are commonly used in the oil and natural gas industry, but do not have any standardized meaning as prescribed by IFRS and therefore may not be…
  37. March 2021 Corporate Presentation – Crew Energy Inc. – slide 37
    Non-IFRS Measures Operating Netback and Field Operating Netback Management uses certain industry benchmarks such as operating netback and field operating netback to analyze financial and operating performance. This benchmark as presented…
  38. March 2021 Corporate Presentation – Crew Energy Inc. – slide 38
    Assumptions The assumptions used throughout this presentation, including on slides 4, 6, 7, 9, 10, 11, 12, and 13 are provided below: KEY BUDGET ASSUMPTIONS 2021 2022 2021 SENSITIVITIES AFF (MM) AFF/Share Capital Expenditures (MM)…

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