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Corporate Presentation – Crew Energy Inc.

Crew Energy Inc. · Sep 30, 2014 · 32 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. Corporate Presentation – Crew Energy Inc. – slide 1
    CORPORATE PRESENTATION September, 2014 SHARPENING OUR FOCUS 1
  2. Corporate Presentation – Crew Energy Inc. – slide 2
    INVESTMENT HIGHLIGHTS MONTNEY FOCUS LONG TERM GROWTH Exposure to world-class Massive (109 TCFE) Montney resource resource in early stages of development Large, contiguous land base (492 net sections) with light Technology…
  3. Corporate Presentation – Crew Energy Inc. – slide 3
    FOCUSED OPERATIONS Montney (Core focus) Resource play with long-term growth potential Montney Lloydminster Heavy Oil Fort St. John Oil / Liquids rich natural gas / dry gas Low maintenance capex generates free cash flow to…
  4. Corporate Presentation – Crew Energy Inc. – slide 4
    World-Class Montney Resource 5
  5. Corporate Presentation – Crew Energy Inc. – slide 5
    WORLD-CLASS MONTNEY RESOURCE 109 TCFE1 of TPIIP2 CREWS COMPETITIVE ADVANTAGES: Built & consolidated a major land position in the Montney (492 net sections, 90% undeveloped) Access to 3 hydrocarbon windows Light oil liquids rich…
  6. Corporate Presentation – Crew Energy Inc. – slide 6
    GROWING MONTNEY ACREAGE Sharpens Focus Montney (2007) Montney (2010) Montney (2014) CURRENT ESTIMATES: Oil Sections: 138 P+P Reserves1 (mmboe): 99.2 Wet Gas Sections: 244 Resource (TCFE): 109 Dry Gas Sections: 110 Production2…
  7. Corporate Presentation – Crew Energy Inc. – slide 7
    SUCCESSFUL EXECUTION P+P Montney Reserves Growth (MMBOE) Growth in Resource & Reserves 120.0 Liquids mmbbls 100.0 Gas mboe 99.2 80.0 Montney Resource Estimate 60.0 48.1 46.7 120 Liquids tcfe 40.0 27.7 Gas tcf 109 TCFE 20.0…
  8. Corporate Presentation – Crew Energy Inc. – slide 8
    ABUNDANT AND Crew Montney Spectra P/L TCPL Nova P/L GROWING Grassy Point Lands Pacific Northern Gas P/L Alliance P/L INFRASTRUCTURE Proposed LNG Port Spectra Gas Plant Septimus Gas Plant Crews Montney Lands DELIVERY…
  9. Corporate Presentation – Crew Energy Inc. – slide 9
    SIGNIFICANT ACREAGE POSITION Crew Montney Rights Crew Operated Pipeline North Montney Mainline Project Proposed Alliance Operated Pipeline Spectra Westcoast Pipelines Goose Spectra McMahon gas plant Crew operated Septimus gas…
  10. Corporate Presentation – Crew Energy Inc. – slide 10
    CREWS INFRASTRUCTURE ADVANTAGE Long Term Contracts for Take Away AUX SABLE / STEEL REEF Crew maintains full operatorship and first right to capacity Crew controls pace of expansion Buy-back option at a discount to spent capital by…
  11. Corporate Presentation – Crew Energy Inc. – slide 11
    Septimus Area SEPTIMUS Initial Montney Development Area Active drilling and development program Adoption of new technology Existing 60 mmcf/d gas plant currently at capacity from area Crew Septimus plant 60 mmcf/d capacity…
  12. Corporate Presentation – Crew Energy Inc. – slide 12
    SEPTIMUS: EXCEPTIONAL ECONOMICS & IMPROVING EURs 4.3 bcf EUR per well 500 boe/d IP365 Positive results in Septimus to date support expansion into other areas of the Montney: West Septimus, Tower & Groundbirch 2,850 drilling…
  13. Corporate Presentation – Crew Energy Inc. – slide 13
    West Septimus WEST SEPTIMUS Continuation of Septimus Trend Step-out area - Montney expansion Over pressured area with proven liquids-rich gas Up to 220 bbls condensate/mmcf provides strong economics Building second 60 mmcf/d…
  14. Corporate Presentation – Crew Energy Inc. – slide 14
    TOWER 51 net sections Emerging Montney Light Oil Play 765 drilling locations 15 wells/ section Offers near to mid-term growth with excellent netbacks Tower Able to benefit from industry experience in the area to optimize…
  15. Corporate Presentation – Crew Energy Inc. – slide 15
    TOWER Light Oil Leads to Strong Netbacks 15 wells / section Tower Montney Economics drilling plan Capex (mm) 6.5 1 month IP (boepd) 710 Reserves: Oil (mbbls) 150 NGL (mbbls) 60 Gas (BCF) .97 NPV10 (mm) 6.1 90 m 45 m…
  16. Corporate Presentation – Crew Energy Inc. – slide 16
    GROUNDBIRCH Delineation Area with Long- Term Upside Groundbirch Potential new growth area Vertical + Horizontal development Over-pressured with liquids-rich natural gas Large pay thickness (500 ft. Upper Montney) Planned gas…
  17. Corporate Presentation – Crew Energy Inc. – slide 17
    ACCELERATED MONTNEY DEVELOPMENT Goal to achieve 45,000 boe/d Montney exit by 2018 (5 year plan) Free Cash Flow Positive Forecast Production Growth Capex versus Cash Flow** 50,000 450 45,000 400 Production (boepd) 40,000 350…
  18. Corporate Presentation – Crew Energy Inc. – slide 18
    LONGER-TERM MONTNEY DEVELOPMENT Converting Development Into Sustainable Free Fewer wells required over time to generate Cash Flow same cash flow* from one 60mmcf/d plant 90 OVER TIME: 80 Capital/ Cash Flow ( millions) 70…
  19. Corporate Presentation – Crew Energy Inc. – slide 19
    SIGNIFICANT MONTNEY RESOURCE UPSIDE Achieving our 5 year plan…
  20. Corporate Presentation – Crew Energy Inc. – slide 20
    Lloydminster Heavy Oil Low Risk Funding Source 21
  21. Corporate Presentation – Crew Energy Inc. – slide 21
    LLOYDMINSTER HEAVY OIL Lloydminster ALBERTA SASKATCHEWAN Strong well economics on 6,000 BRIGHTSAND boe/d of production generates high free cash flow SWIMMING LLOYD Low capex and high capital Lloydminster LOW LAKE FOREST…
  22. Corporate Presentation – Crew Energy Inc. – slide 22
    ATTRACTIVE LLOYDMINSTER ECONOMICS Crew Horizontal Heavy Oil Wells Type Curve 80 70 60 Lloydminster Type Wells Oil Rate (bopd) Lloyd Lloyd VT Single Per Well HZ Zone 50 Peak Rate (bopd) 75 45 40 Reserves (mboe) 65 50…
  23. Corporate Presentation – Crew Energy Inc. – slide 23
    PRINCESS DISPOSITION Sharpening Our Focus on the Montney Announced agreement for disposition Aug 28 14, for total cash consideration 150 million Proceeds sufficient to fund construction of 60 mmcf/d facility in West Septimus +…
  24. Corporate Presentation – Crew Energy Inc. – slide 24
    UNIQUE INVESTMENT OPPORTUNITY MONTNEY FOCUS 5th largest Montney landholder in NE BC Access to multiple markets, growing egress and potential to feed LNG demand longer term Emerging light oil play 109 TCFE TPIIP Resource LONG…
  25. Corporate Presentation – Crew Energy Inc. – slide 25
    CORPORATE SNAPSHOT TSX:CR TSX Trading symbol CR Basic shares (mm) 122.3 Market capitalization 11.00/sh (mm) 1,345 2014 YTD high trade 12.74 2014 YTD low trade 6.33 2014 YTD average trading volume per day (m) 1,143…
  26. Corporate Presentation – Crew Energy Inc. – slide 26
    Contact Info: Dale O. Shwed, President & CEO Suite 800, 250 - 5th Street SW John G. Leach, Senior Vice President & CFO Calgary, Alberta T2P 0R4 Telephone: (403) 266-2088 Rob J. Morgan, Senior Vice President & COO Email:…
  27. Corporate Presentation – Crew Energy Inc. – slide 27
    APPENDIX 28
  28. Corporate Presentation – Crew Energy Inc. – slide 28
    UPCOMING CATALYSTS Capex 305MM in 2014 West Septimus 20 well pad drilling DC&T Tower Drilling Results Q3 Q4 1H 2H 2014 2014 2015 2015 Close Princess Tower West Septimus 1ST Phase of 150MM Sale Plant on Stream oil facility…
  29. Corporate Presentation – Crew Energy Inc. – slide 29
    2014 BUDGET SUMMARY 2014 Assumptions: Budget Production guidance (boepd) 25,000 Cash Flow (CF) (mm) 180 Exit production (boepd) 22,500 CF/diluted share 1.44 Pricing Gas (AECO-C/gj) 4.11 E&D Capex (mm) 305 Oil (WTI-C/bbl) 109…
  30. Corporate Presentation – Crew Energy Inc. – slide 30
    Assumptions Accelerated Montney development (slide 19) Longer-term Montney development (slide 20) 2014 to 2018 259 mm infrastructure capital AECO (/mcf) 3.75 Three 60 mmcf/d gas plants; planned on stream Q3/2015, Q3/2016 & Q3/2018…
  31. Corporate Presentation – Crew Energy Inc. – slide 31
    NE BC MONTNEY RESOURCE EVALUATION Natural Gas Resource Categories (1)(2)(3) Tcf Reserves and Contingent Resources (1)(2)(3)(6)(7) Best Estimate Total Petroleum Initially In Place (TPIIP) 60.6 Natural Gas (Tcf) Discovered Petroleum…
  32. Corporate Presentation – Crew Energy Inc. – slide 32
    DEFINITIONS OF OIL & GAS RESOURCES AND RESERVES Reserves are estimated remaining quantities of oil and natural gas and related substances anticipated to be recoverable from known accumulations, as of a given date, based on the analysis…

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