TSX: CR The best views come after the hardest climbs Corporate Presentation July 2021
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…
TSX: CR Why Invest in Crew
Investment Highlights A Natural Gas Company Offering a Unique Combination of Value & Growth Building Momentum Significant Growth Production 45% and Adjusted Funds Flow1 260% from 2020 to 2022 Excellent Value Net Asset Value 9.66 -…
Q1 2021 Highlights Two Feet on the Gas Successful execution of the two-year plan vs Q4/20 AVERAGE PRODUCTION CASH COSTS2 CAPEX (MM) 11% 21% 26,258 boe/d 12.25/boe 50.1 MM vs Q4/20 vs Q4/20 9-5 PAD PAYOUT1 AFF1 (MM / per share)…
TSX: CR Participating in the Energy Transition
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…
Participating in the Energy Transition Canadian Energy Investment Momentum is Building Investment in Canadian Energy Markets Ramping Energy sector has seen more capital inflow than any other sector since 1SECTOR Jan 2019 Canadian…
TSX: CR Exceptional Value
Utilization of Evolving Technologies and Strong Execution Yields Capital Efficiency Improvements 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…
TSX: CR Strategic Growth Plan
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…
Improving Margins Lowering per Unit Costs Steadily declining unit costs1 improve margins Increased production into available capacity 16 Optimizing production and infrastructure utilization enhances 25 % margins, increases AFF…
AFF Growth Increased Pace of Development to Capture Value From Stronger Commodities Futures Target AFF1 Growth 2020-2022 Natural Gas Pricing Sensitivities2,3,4 380 160 150.0 360 2021 - 2022 Combined AFF (CMM) 340 120 330…
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 7.0 keeping…
TSX: CR Optionality to Raise Funds with Additional Transactions
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 sell…
TSX: CR Montney: World Class Resource
World-Class Resource With Excellent Market Access Among North American Basins Montney Competitive Features Current Unconventional Montney Formation is predictable in size and thickness Shales and Tight Gas Plays (1000 feet in…
World-Class Resource Base Several Stratigraphic Benches for Future Drilling 2 HZ Wells 4 HZ Wells 5 HZ Wells 106 HZ Wells 77 HZ Wells 10 HZ Wells West Portage Groundbirch Attachie West Septimus Septimus Tower Doig Upper Montney 1…
Septimus Stable Base Production Provides Source of Free AFF1 Field Operating Netback1 Capex at Septimus Septimus Gas Production 100 150 MM 4.78 5.00 60,000 90 4.50 4.49 Field operating netback1 16 20 exceeds capex2, providing…
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) (2021) High condensate…
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 Westcoast pipelines servicing…
TSX: CR Committed to ESG
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…
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…
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…
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…
We Are Shareholders & Bondholders Engaged management team and board with high insider ownership + Women Represented 100 Across Crews Workforce3 Over 100 meetings hosted by Crew management with investors or investment…
Investment Highlights A Natural Gas Company Offering a Unique Combination of Value & Growth Building Momentum Significant Growth Production 45% and Adjusted Funds Flow1 260% from 2020 to 2022 Excellent Value Net Asset Value 9.66 -…
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
TSX: CR Appendix
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…
Robust Natural Gas Hedging & Marketing Diversification Underpinning AFF2 for Next 2 Years Hedging Critical to Protect the Balance Sheet and Capital Investment 2021 Advantageous Marketing Diversification3 approx. 55 100% % 90%…
Reader Advisories
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…
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…
Assumptions The assumptions used throughout this presentation are provided below: KEY BUDGET ASSUMPTIONS 2021 2022 Capital Expenditures (MM) 120-145 70-95 Annual Average Production (boe/d) 26,000 28,000 31,000 33,000 AFF (MM) 105-125…
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