TSX: CR The best views come after the hardest climbs Corporate Presentation November 2023
TSX: CR WHY INVEST IN CREW
SOLID PRODUCTION GROWTH Peters & Co Ltd 2022 Reserve Comparative3 Company 2022 PDP 1 Yr P+P 2 Yr P+P PDP P+P PDP as 1 Yr 3 Yr 2023E 1 Year 1 Year 3 Year 3 Year Total Total Production Reserves FD&A inc FD&A inc RLI RLI % of P+P PDP…
STRONG CAPITAL EFFICIENCIES Peters & Co Ltd 2022 Reserve Comparative4 Company 2022 PDP 1 Yr P+P 2 Yr P+P PDP P+P PDP as 1 Yr 3 Yr 2023E 1 Year 1 Year 3 Year 3 Year Total Total Production Reserves FD&A inc FD&A inc RLI RLI % of P+P…
TOP TIER INVESTMENT RECYCLE RATIOS Peters & Co Ltd 2022 Reserve Comparative4 Invest 1 and Make 5 Company 2022 PDP 1 Yr P+P 2 Yr P+P PDP P+P PDP as 1 Yr 3 Yr 2023E 1 Year 1 Year 3 Year 3 Year Total Total Production Reserves FD&A inc…
LOW CASH COSTS IMPROVING MARGINS Crew performed very favorably compared to 35 company peer group on cash cost comparative metrics in Q3/20231 Cash Costs/BOE2 Q3/23 50 45 40 35 /BOE 30 25 20 Peer Average 10.12…
TSX: CR MULTI YEAR STRATEGIC GROWTH PLANS
OPPORTUNITY FOR FUTURE GROWTH Road Map to Growth 48% Increase Forecast 95% Increase Opportunity to increase production by 2026 to 60,000 2 YEAR PLAN EXIT 2023 to EXIT 2026 boepd 70 Crews assets have the potential to support a 60…
ABILITY TO PIVOT AND ADAPT TO COMMODITY PRICES Demand for gas has not kept pace with supply and as a result gas 110 July-23 Gas Prodn Aug-23 Gas Prodn prices have been under pressure 94.47 100 July-23 Henry Hub Aug-23 Henry Hub…
HEDGING AND MARKETING Hedging Critical to Protect Balance Sheet and Capital Investment Hedging Outline Market Diversification2 Targeting 40% to 50% hedged on projected natural gas production Crew produces liquids rich gas that has…
TSX: CR MONTNEY: WORLD CLASS RESOURCE
CREWS EXTENSIVE INVENTORY Several Stratigraphic Benches for Future Drilling 251 Crew HZ wells Drilled to Q3 2023 5 HZ Wells 8 HZ Wells 128 HZ Wells 94 HZ Wells 16 HZ Wells Monias Groundbirch West Septimus Septimus Tower Doig…
STRATEGIC LAND POSITION & INFRASTRUCTURE Flatrock & Stoddart Crew Montney Land Base Features Existing access to three export pipelines servicing Canada and the US TC Montney Oil Line Alliance Attachie/Altares Enbridge West…
TSX: CR STRONG OPERATIONAL EXECUTION
GREATER SEPTIMUS & TOWER OPERATIONS UPDATE W. Septimus 04-21 B zone wells C zone wells Lower wells Tower 16-30 4-32 (5 wells) Completed 4-32 11-27 15-28 11-27 (6 wells) 2-24 Pad 5 Producing (6 wells) 5 wells 5 wells 6 wells 8-22…
POSITIVE EXPLORATION RESULTS AT MONIAS A14-34 Test Wellhead Gas & Condensate Data At the end of a 10-day test period, A14-34 was flowing at 1.2 mmcf/d of gas and 400 barrels per day of condensate 1,500 600 This well NW of the Monias…
GROUNDBIRCH OPERATIONS UPDATE 15,000 Crew 4-17 Pad Well Performance A14-34 Well 12,000 333 bbl/mmcf Condy (test) 3,000m average completed length 2,650m average completed length 9,000 Gas (mcfd) Future Pad 9-18 (4…
TSX: CR CREATING VALUE
2022 YEAR-END RESERVES HIGHLIGHTS 1,4 Strong Capital Efficiencies Exceptional Value Consistent Record of PDP Reserve Additions5 Reserve values net of debt with no value to 218,240 acres (81% undeveloped) of Montney land of PDP…
LONG TERM VALUE CREATION Untapped Inherent Value Growth Crew Share Price (TSX:CR) and Reserves per Debt Adjusted Share1 25 2,500 2022 net debt reduction of 250 million Reserves Per Thousand Debt Adjusted Shares (Boe/mSh) Peak…
SIGNIFICANT UPSIDE TO ADD PRODUCTION & RESERVES 2,500 potential drilling locations identified1 2.2 TCFE of 2P Reserves Booked2 341 net sections of Montney land 2,500 Montney drilling locations WEST SEPTIMUS identified1 198…
TSX: CR COMMITTED TO ESG
LEADERS IN SUSTAINABILITY & ESG Producing energy that creates a better tomorrow Environment1 Social1 Embracing innovative, industry-leading technologies The energy driving our production and success to minimize our footprint comes…
TSX: CR APPENDIX
GUIDANCE ASSUMPTIONS The assumptions used throughout this presentation are provided below: Updated 2023 Guidance and KEY GUIDANCE ASSUMPTIONS Assumptions2 Net Capital Expenditures1 (MM) 220-230 Annual Average Production (boe/d)…
TSX: CR READER ADVISORIES
KEY DEFINED TERMS BOE = Barrels of oil equivalent or BOEs1 AFF (Adjusted Funds Flow) Cash flow CAPEX = Net Capital Expenditures Free AFF = Adjusted Funds Flow less capital expenditures FID = Final Investment Decision EBITDA =…
NON-IFRS AND OTHER FINANCIAL MEASURES Non-IFRS and Other Measures Throughout this presentation and other materials disclosed by the Company, Crew uses certain measures to analyze financial performance, financial position and cash flow.…
NON-IFRS AND OTHER FINANCIAL MEASURES Non-IFRS Measures and Ratios a) Net Capital Expenditures Net capital expenditures equals property, plant and equipment expenditures less net property acquisitions (dispositions). Crew uses net…
NON-IFRS AND OTHER FINANCIAL MEASURES Non-IFRS Measures and Ratios e) Net Operating Costs per boe Net operating costs per boe equals net operating costs divided by production. Management views net operating costs per boe as an important…
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