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CORPORATE PRESENTATION – Crescent Point Energy Corp.

Crescent Point Energy Corp. · May 1, 2014 · 23 slides

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Slides

  1. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 1
    CORPORATE PRESENTATION May 2014
  2. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 2
    Q1 HIGHLIGHTS Record production of 130,580 boe/d (91% oil weighted) 6% production per share growth over Q1 2013 Record funds flow from operations of 580.1MM (1.45/share diluted) 21% per share growth over Q1 2013 Strong operating…
  3. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 3
    CANERA TORQUAY CONSOLIDATION 10,000 boe/d of 96% oil weighted production (85% operated) Increases core Torquay exposure by 27% to 280 net sections from 220 Viewfield 80 net incremental Torquay Bakken drilling locations(1)…
  4. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 4
    TORQUAY DISCOVERY: PRO FORMA CANERA Extension of the North Dakota Three Forks play 880 net sections of Torquay potential land 280 net sections in delineated core area 5,200 boe/d production 36 net wells drilled to date 480 net…
  5. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 5
    TSX: CPG NYSE: CPG 2014 Exit Production: 145,000 boe/d (90% oil weighted)(1) 2014 Funds Flow: 5.85/share(2)(3) Netback: 59.00/boe(2)(4) Yield: 6.2%(5) Annual Dividend: 2.76/share Payout Ratio: 47%(2) Market Capitalization: 18.5…
  6. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 6
    BUSINESS STRATEGY Develop and exploit Increase recovery factors through infill drilling, waterflood optimization and improved technology Acquire Focus on high-quality, large resource-in-place pools with production and reserves…
  7. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 7
    HEDGING STRATEGY Total Oil Hedges 65% 70,000 70% 60,000 60% 50,000 50% Provide greater stability 34% to dividends bbl/day 40,000 40% 30,000 19% 30% 20,000 20% 10,000 4% 10% 70,000 bbl/d of rail - Q2 14 Q3 14 Q4…
  8. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 8
    FOCUSED GROWTH 18 billion bbls OOIP(1) Low recovery to date of 2.8% 7,400 high quality drilling locations(2) Potential to increase reserves by 800 Mmbbls through increasing recovery factor(3) Cemented liner technology Lower…
  9. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 9
    UPSIDE POTENTIAL OF LARGE OIL IN PLACE Potential Reserves(3) Independent Analog Pools (Net Incremental to OOIP (1) Recovery Recovery Recovery P+P Reserves Play (Mmbbls) to Date Factor P+P (2) Factor Mmbbls) Bakken 4,600 2.9% 10.1%…
  10. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 10
    INVENTORY FOR THE LONG TERM 990,000 boe/d of production additions if current inventory drilled today (2) 990,000 (1) 7,400 Low risk/high rates of return Potential to increase from infill drilling and advancing (5)…
  11. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 11
    CREATING VALUE BY ADVANCING TECHNOLOGY Value per well more than doubled: 3.3MM to 10.1MM Well EUR(2) NPV10(1) ROR(1) Completion Type Count (mbbl) (M) (%) 250 Historical Completions (3 TWP Area in Viewfield Core)(3) Surgifrac…
  12. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 12
    VALUE CREATION: BAKKEN Bakken Waterflood Value Creation (B) Combined Purchase Price 2.8 Total Capital Spent to Date(1) 2.9 Total Cost(1) 5.7 Total Cash Flow to Date(1) 4.6 Current P+P NPV10%(2)(3) 7.3 Total Value at…
  13. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 13
    HIGH-QUALITY ASSETS 3-year avg reserves per share growth + dividend yield = 13%(1) 20,000 Original Oil In Place (Mmbbls) 800 Historical P+P Reserves (Mmboe) 16,000 700 600 12,000 500 8,000 400 300 4,000 200 100 0 0 2002…
  14. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 14
    PROVEN TRACK RECORD 3-year avg production per share growth + dividend yield = 13%(1) 8,000 Drilling inventory (net wells)(4) 7,000 Forecast 2014 exit of 145,000 boe/d(2) 6,000 5,000 Top quartile netback of 59.00/boe(3) 4,000…
  15. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 15
    BUILDING CASH FLOW STRENGTH 3-year avg funds flow per share growth + dividend yield = 20%(1) 90% Payout Ratio - Diluted 2,800 Funds Flow (billions) 80% 2,400 70% 2,000 60% 1,600 50% 1,200 40% 2004 2005 2006 2007…
  16. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 16
    Summary Proven management team Proven track record of reserves, production and cash flow growth 5-year weighted average F&D of 17.91(1) Excellent balance sheet 3-year hedging program to provide cash flow stability Balance sheet…
  17. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 17
    APPENDIX
  18. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 18
    VIEWFIELD BAKKEN OIL RESOURCE PLAY 1,700 net locations in drilling inventory(1) 25-stage cemented liner completion technique is reducing water consumption by up to 45% per well and lowering declines 4.6 billion bbls OOIP with…
  19. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 19
    SHAUNAVON OIL RESOURCE PLAY 1,800 net locations in drilling inventory(1) 25 stage cemented liner technology from Bakken being implemented in Shaunavon 5.3 billion bbls OOIP with 0.8% recovered to date(2) 600 gross wells on…
  20. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 20
    UINTA BASIN OIL RESOURCE PLAY Uinta Basin future drilling locations Crescent Point Lands Randlett Vertical Type Well Economics(5): Production Production 1,000 net locations identified on Crescent Point (bbl/d) (bbl/d) Type…
  21. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 21
    LOW RISK/HIGH RETURN INVENTORY Risked per TotalCapital(1) TotalReserves(2) Production Rate Risked F&D Producing Area Net Wells (MM) (Mboe) (boe/d) (3) (/boe) Boe(3) Resource Plays Bakken/Three Forks 2,904 10,170 437,144 487,327…
  22. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 22
    ACQUISITION HISTORY: RESERVES MORE THAN DOUBLED Initial P+P Estimated Current P+P Total P+P Reserves Production Reserves Reserves Increase in P+P % Increase in Property (Mboe) (Mboe)(1) (Mboe)(1)(2) (Mboe)(1) Reserves (Mboe)…
  23. CORPORATE PRESENTATION – Crescent Point Energy Corp. – slide 23
    8 BILLION OF VALUE CREATED Total Gain (Cash Current P+P Total Cash flow + flow + P+P Purchase Capital Spent Total Cost Total Cash Flow NPV10% P+P NPV10% NPV10 Cost) Property Price (M)(1) (M)(1) (M)(1) to Date (M)(1) (M)(1)(2)(3)…

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