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Corporate Presentation – Crew Energy Inc.

Crew Energy Inc. · Jan 1, 2014 · 33 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 January, 2015 SHARPENING OUR FOCUS
  2. Corporate Presentation – Crew Energy Inc. – slide 2
    INVESTMENT HIGHLIGHTS MONTNEY FOCUS LONG-TERM GROWTH Exposure to world-class Massive resource in early Montney resource (109 TCFE) stages of development (0.6 TCFE 2P reserves booked) Large, contiguous land base (487 net sections)…
  3. Corporate Presentation – Crew Energy Inc. – slide 3
    FOCUSED OPERATIONS Montney (Core focus) Resource play with long-term growth potential Montney Oil / Liquids rich Fort St. John natural gas / dry gas Lloydminster Heavy Oil Low maintenance capex Edmonton generates free cash…
  4. Corporate Presentation – Crew Energy Inc. – slide 4
    World-Class Montney Resource 5
  5. Corporate Presentation – Crew Energy Inc. – slide 5
    NEBC MONTNEY: A GLOBALLY COMPETITIVE PLAY Not a shale: Its a siltstone Montney Competitive Attributes: Exceptionally thick: up to 1,000 feet Permeability 20-80 times greater than comparable resource plays in North America…
  6. Corporate Presentation – Crew Energy Inc. – slide 6
    SEPTIMUS: SWEET SPOT OF THE MONTNEY Crews 487 sections of land are situated in the sweet spot of the play (Area 4) 1 MONTNEY SUB-GROUP REGIONS Altares/Caribou/Farrell/Kobes/Town/ Highest IRR & IP30at Parkland / Septimus / Tower1…
  7. Corporate Presentation – Crew Energy Inc. – slide 7
    GROWING MONTNEY ACREAGE Sharpens Focus Montney (2007) Montney (2010) Montney (2014) CREW ACREAGE BREAKDOWN: Oil Sections: 138 Wet Gas Sections: 239 Dry Gas Sections: 110 Total Sections: 487 8
  8. Corporate Presentation – Crew Energy Inc. – slide 8
    SUCCESSFUL EXECUTION P+P Montney Reserves Growth (MMBOE) 120.0 Liquids mmbbls Growth in Resource & Reserves 100.0 Gas mboe 99.2 80.0 Montney Resource Estimate 60.0 46.7 48.1 40.0 120 Liquids tcfe 27.7 109 TCFE 21.6 20.0 15.3…
  9. Corporate Presentation – Crew Energy Inc. – slide 9
    MONTNEY RESERVES: EARLY STAGES 92% UNDEVELOPED Flatrock Goose Attachie Portage Septimus Tower Groundbirch Crew Montney Gas Tests Crew 2014 Drilled Unbooked Location Sproule 2013 Yearend Booked Reserve Lands Crew…
  10. Corporate Presentation – Crew Energy Inc. – slide 10
    Crew Montney ABUNDANT AND Lands GROWING Proposed STN 2 INFRASTRUCTURE Canadian LNG Ports AECO Gas Acreage is optimally situated to Kingsvale Storage Hub feed potential long term demand Spectra P/L Multiple egress…
  11. Corporate Presentation – Crew Energy Inc. – slide 11
    ACREAGE PROXIMAL TO INFRASTRUCTURE Multiple infrastructure options Flatrock and growing processing capacity Goose Attachie Portage Tower Groundbirch Septimus Crew Operated Pipeline Proposed North Montney Mainline…
  12. Corporate Presentation – Crew Energy Inc. – slide 12
    CREW MONTNEY STRATIGRAPHIC STACK West Portage Groundbirch Attachie West Septimus Septimus Goose Tower Doig 3 19 1 AA Upper Montney 2 7 2 1 A 11 36 1 1 B 500 Feet 2 2 C Lower Montney Monias High of Crew…
  13. Corporate Presentation – Crew Energy Inc. – slide 13
    SEPTIMUS Initial Montney Development Area Active drilling and development program Adoption of new technology 57 wells drilled to date Crew Operated Pipeline Spectra Westcoast Pipelines Existing 60 mmcf/d gas plant currently…
  14. Corporate Presentation – Crew Energy Inc. – slide 14
    SEPTIMUS: SUPERIOR RETURNS & IMPROVING EURs Positive results in Septimus to date support expansion into other areas of the Montney: West Septimus, Tower 4.3 bcf EUR per well 500 boe/d IP365 & Groundbirch Capex Flat Price*…
  15. Corporate Presentation – Crew Energy Inc. – slide 15
    WEST SEPTIMUS Greater porosity, permeability and liquids than Septimus Continuation of Septimus Trend Step-out area - Montney expansion Over pressured area with proven liquids-rich gas 00/8-22 Up to 220 bbls condensate/mmcf…
  16. Corporate Presentation – Crew Energy Inc. – slide 16
    TOWER 51 net sections Emerging Montney Light Oil Play 765 drilling locations 15 wells/ section Able to benefit from industry Near to mid-term growth with experience in the area to optimize excellent netbacks efficiencies 160 mboe…
  17. Corporate Presentation – Crew Energy Inc. – slide 17
    TOWER Light Oil Leads to High Netbacks Flat Price* Sproule Q4 2014 12-15 wells / section drilling plan Capex (mm) 6.5 6.5 1 month IP (boe/d) 894 894 Reserves: 175 175 Oil (mbbls) NGL (mbbls) 62 62 Gas (bcf) .98 .98 NPV10 (mm)…
  18. Corporate Presentation – Crew Energy Inc. – slide 18
    Montney Next Steps: Future Growth 19
  19. Corporate Presentation – Crew Energy Inc. – slide 19
    NEXT STEPS: GROUNDBIRCH Planned gas plant and pipeline infrastructure supports area growth Delineation Area with Long-Term Upside Offsetting vertical + horizontal development Over-pressured with liquids-rich natural gas Large pay…
  20. Corporate Presentation – Crew Energy Inc. – slide 20
    NEXT STEPS: ATTACHIE Proof of Concept Stage Excellent test rates from Several prolific offsetting producers in Upper and Lower Montney initial wells Crew 10-22 well Over-pressured with liquids-rich natural Crew 15-36 well…
  21. Corporate Presentation – Crew Energy Inc. – slide 21
    SIGNIFICANT MONTNEY RESOURCE UPSIDE Achieving our 5 year plan…
  22. Corporate Presentation – Crew Energy Inc. – slide 22
    Lloydminster Heavy Oil Low-Risk Funding Source 23
  23. Corporate Presentation – Crew Energy Inc. – slide 23
    LLOYDMINSTER HEAVY OIL Lloydminster ALBERTA SASKATCHEWAN Current production 5,500 boe/d BRIGHTSAND Low capex and strong capital SWIMMING efficiencies drive stable production LLOYD Lloydminster LOW LAKE 97,219 net acres of…
  24. Corporate Presentation – Crew Energy Inc. – slide 24
    2015 BUDGET HIGHLIGHTS 185MM MAINTAIN BALANCE SHEET STRENGTH WITH MONTNEY GROWTH Commission West Septimus facility mid-year; on-stream in Q3 Install necessary infrastructure at Septimus to replace trucking of condensate; adds 4 per…
  25. Corporate Presentation – Crew Energy Inc. – slide 25
    UNIQUE INVESTMENT OPPORTUNITY MONTNEY FOCUS 4th largest Montney landholder in NE BC Access to multiple markets, growing egress and potential to feed long term demand Emerging light oil play at Tower 109 TCFE TPIIP Resource LONG…
  26. Corporate Presentation – Crew Energy Inc. – slide 26
    CORPORATE SNAPSHOT TSX:CR TSX Trading symbol CR Basic shares (mm) 123.4 Market capitalization 6.25/sh (mm) 772 2014 YTD high trade 12.74 2014 YTD low trade 5.42 2014 YTD average trading volume per day (m) 1,153 Employee/Director…
  27. Corporate Presentation – Crew Energy Inc. – slide 27
    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:…
  28. Corporate Presentation – Crew Energy Inc. – slide 28
    APPENDIX 29
  29. Corporate Presentation – Crew Energy Inc. – slide 29
    COMPARATIVE: MONTNEY VS OTHER NORTH AMERICAN RESOURCE PLAYS ECONOMICS Montney half-cycle per-well economics are strong and comparable to many key US shale plays even when including prevailing FX / basis 70% Illustrative half cycle…
  30. Corporate Presentation – Crew Energy Inc. – slide 30
    SEPTIMUS MONTNEY: SWEET SPOT OF THE BASIN EQUALS LEADING ECONOMICS Montney Well Economics by Area Capex/ well IP 30 Recovery Liquids Yield BTax IRR BTax NPV Fields (mm) (mmcf/d) (bcfe) (bbl/mmcf) 8.5% (mm) Area 4 Parkland, Septimus,…
  31. Corporate Presentation – Crew Energy Inc. – slide 31
    2015 CAPITAL PROGRAM AND BUDGET Forecast: Fiscal 2015 Average daily production (boe per day) 20,000 22,000 Exit production (boe per day) 24,000 25,000 Capital expenditures (millions) 185 Total debt capacity (millions) 430 High…
  32. Corporate Presentation – Crew Energy Inc. – slide 32
    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…
  33. Corporate Presentation – Crew Energy Inc. – slide 33
    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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