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March 2015 Corporate Presentation – Crescent Point Energy Corp.

Crescent Point Energy Corp. · Mar 1, 2015 · 25 slides

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Slides

  1. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 1
    CORPORATE PRESENTATION March 2015
  2. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 2
    COMPANY SNAPSHOT: CPG (TSX AND NYSE) Market Capitalization 13.9 billion (450.2 million shares fully diluted)(1) Net Debt 3.2 billion(2) Enterprise Value 17.1 billion 2015 Average Production 152,500 boe/d (90% oil weighted)(3)…
  3. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 3
    2014 YEAR-END HIGHLIGHTS Delivered strong 2014 vs 2013 growth on a per share basis in addition to our dividend yield(1): 8% production per share 8% funds flow per share(2) 7% year-end reserves per share Q4 2014 record production of…
  4. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 4
    THE CRESCENT POINT ADVANTAGE Proven Management Team Proven track record of reserves, production and cash flow growth 5-year weighted average F&D of 19.33 per 2P boe of reserves (2.6 times recycle ratio)(1) 10-year total shareholder…
  5. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 5
    BUSINESS STRATEGY Develop and Exploit Increase recovery factors through step-out and infill drilling, waterflood optimization and improved technology Acquire Focus on high-quality, large resource-in-place pools with the potential…
  6. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 6
    PROVEN TRACK RECORD 200,000 Production Growth (boe/d) Funds Flow (MM) 3,000 160,000 2,500 120,000 2,000 1,500 80,000 1,000 40,000 500 0 0 (1) 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014…
  7. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 7
    HEDGING STRATEGY Total Oil Hedges(1) 80,000 56% 2015 average floor price 89/bbl 70% 2016 average floor price 84/bbl percent hedged 60% 60,000 2017 average floor price 81/bbl 50% 33% bbl/d 40% 40,000 30% 9% 20% 20,000…
  8. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 8
    FOCUSED GROWTH Strategic positions in four of the largest medium to light oil resource pools in Canada (including Viking)(1) Largest player in the Canadian Bakken, which has the OOIP strongest break-even 5.3 billion barrels…
  9. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 9
    VIEWFIELD BAKKEN Q4/14 production 63,000 boe/d CPG Stoughton Rail Terminal 4.6 billion barrels of original oil in place with a recovery factor of 3.5%(1) 25-stage cemented liner completion technique has improved overall returns,…
  10. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 10
    VIEWFIELD BAKKEN TECHNOLOGY ADVANCEMENTS Viewfield Bakken Independent type well changes(1) Change in Ultimate Recoverable Reserves (MMboe) (Primary recovery) assigned by Independent Evaluators due to waterflood(2) (Secondary…
  11. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 11
    SHAUNAVON Q4/14 production 25,000 boe/d 17 years in drilling inventory(1) 5.3 billion barrels of original oil in place with a recovery factor of 1.0%(2) Latest 25-stage cemented liner technology has improved production rates by…
  12. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 12
    UINTA BASIN Multi-Zone Basin Ouray Valley Gusher Horseshoe Bend Rocky Point Randlett Aurora Blacktail Ridge Greater Monument Butte Lake Canyon Crescent Point Energy lands Q4/14 production 15,200 boe/d 1,300 net…
  13. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 13
    FLAT LAKE: TORQUAY (THREE FORKS) & BAKKEN Torquay edge USA border Flat Lake Torquay lands Viewfield Bakken and SE Saskatchewan conventional lands Recent discovery of 1 billion barrels of original oil in place with 960…
  14. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 14
    BUILDING FREE CASH FLOW ASSETS Viewfield Bakken 1,600 600 Shaunavon 1,200 450 MM MM 800 300 400 150 0 (1) 0 (1) Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Development Capex Operating…
  15. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 15
    MANAGING THE CURRENT ENVIRONMENT Reduce internal costs Partner with vendors to reduce costs CURRENT Improve drilling and capital efficiencies FOCUS Continue efficient allocation of capital with an appropriate drilling program…
  16. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 16
    FUTURE GROWTH OUTLOOK Develop and exploit large inventory of economic wells Apply horizontal drilling within emerging Uinta play Advance and grow highly economic Torquay discovery at Flat Lake Increase recovery factors and lower…
  17. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 17
    APPENDIX
  18. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 18
    PER SHARE FOCUS Production Per Share(1) Reserves Per Share (boe)(1)(3) 360 CAGR 6.7% 2.25 + Yield 2 CAGR 6.2% 320 + Yield 1.75 280 1.5 240 1.25 200 (2) 1 2010 2011 2012 2013 2014 2015E 2010 2011 2012 2013 2014 Integrated…
  19. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 19
    16 BILLION INVENTORY DRIVES LONG-TERM GROWTH Percentage of Unbooked Inventory 55% Net Wells (Unbooked) Net Wells (Booked) % Unbooked 51% 56% 47% 73% Corporate Total Bakken / Three Forks Shaunavon Uinta Basin Other Emerging…
  20. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 20
    PIONEER IN ADVANCING NEW TECHNOLOGY 2008 - 2009 2010 - 2012 2013 - 2014 Completed first cemented liner in the Bakken Expanded waterflood area within the core of the Became the largest driller of horizontal wells in oil resource…
  21. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 21
    IMPACT OF TECHNOLOGY IMPROVEMENTS Viewfield Bakken Fresh Water Usage Viewfield Bakken Drilling Progression Spud to Rig Release 900 16.00 800 700 600 12.00 Water (m3) per well 500 Days 400 300 8.00 200 100 0 4.00…
  22. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 22
    ACQUISITION HISTORY: RESERVES MORE THAN DOUBLED Initial 2P Estimated Current 2P Total 2P Increase in Reserves Production Reserves Reserves 2P Reserves % Increase Property (Mboe) (Mboe)(1) (Mboe)(1) (Mboe)(2) (Mboe)(3) in Reserves…
  23. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 23
    FUNDS FLOW IS A BETTER PROXY FOR PERFORMANCE Peer analysis solely on net income does not account for various non-cash charges such as Crescent Points hedging strategy Crescent Point Energy Corp. (millions) 2014A 2013A Net income 508.9…
  24. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 24
    DEFINITIONS 1. Original Oil In Place (OOIP) is equivalent to Discovered Petroleum Initially-In-Place (DPIIP). DPIIP, as defined in the Canadian Oil and Gas Evaluations Handbook (COGEH), is that quantity of petroleum that is estimated,…
  25. March 2015 Corporate Presentation – Crescent Point Energy Corp. – slide 25
    www.crescentpointenergy.com BANKER Bank of Nova Scotia AUDITOR PricewaterhouseCoopers LLP LEGAL COUNSEL Norton Rose Fulbright Canada LLP EVALUATION ENGINEERS GLJ Petroleum Consultants Ltd Sproule Associates Ltd REGISTRAR & TRANSFER…

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