CREW ENERGY INC. TSX: CR
The best views come after the hardest climbs
Corporate Presentation
September 2022
TSX: CR
WHY INVEST IN CREW?
ABOUT CREW (TSX: CR)
"A Team Working Together to Achieve a Common Goal"
Building Momentum in a Strong Natural Gas Market
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Significant Growth
Estimated Production~25% per share from 2021 to 2022 Adjusted Funds Flow1~134% per share from 2021 to 2022 - Free AFF1,3
Currently projected to be at the high end of $160 - $190 million range - Liquids Optionality
Q2 2022 condensate production84% over Q2 2021 - Excellent Value
2P reserves value net of debt - $11.65/share7 - Ample Processing and Transportation Capacity Capacity of 40,000 boe/d (240 mmcfe/d)
- World Class Montney Resource >340 net sections4
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Significant Growth
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See 'Reader Advisories - Non-IFRS and Other Financial Measures. Certain additional disclosures for these specified financial me Certain additional disclosures for these specified financial measures or ratios have been incorporated by reference herein and can be found in the "Advisories -
Non-IFRS and other Financial measures" section of the Company's MD&A for the year ended 2021, available on SEDAR at www.sedar.com and on the Company's website under the Investors section. - Supplementary financial measure that does not have any standardized meaning as prescribed by International Financial Reporting and therefore, may not be comparable with the calculations of similar measures for other entities. See "Advisories - Non-IFRS and Other Financial Measures" contained within this corporate presentation.
- Non-IFRSmeasure or ratio that does not have any standardized meaning as prescribed by International Financial Reporting Standards, and therefore, may not be comparable with the calculations of similar measures or ratios for other entities. See "Advisories - Non-IFRS and Other Financial Measures" contained within this corporate presentation.
- Robust Liquidity Profile
Undrawn on $185 million line of credit as at September 2, 2022 - Shareholder and Bondholder Alignment
6 of top 10 shareholders are insiders (60%)5 -
Distant Tax Horizon
>$1.2 billion in tax pools available to shelter expected future earnings from current income tax as at December 31, 2021
CAPITAL STRUCTURE SNAPSHOT | millions |
Shares issued & outstanding | 156.6 |
Market capitalization2 @ $6.20/share (Sept 2, 2022) | $971 |
Debt Summary as at Sept 2, 2022:
Senior unsecured notes due 20246 | $172 |
Bank loan | |
$0 | |
- See "Advisories - Information on Reserves & Operational Information".
- As at April 18, 2022; Source: Proxy Statement, © 2022 Factset Research Systems, Inc.
- Net of announced $128 mm partial redemption scheduled for September 19, 2022.
- Detailed calculations provided in 'Exceptional Value' section of this corporate presentation.
- All guidance contained herein is based on our 2022 guidance and underlying assumptions detailed in the slide titled "Guidance Assumptions" in the Appendix, which are subject to change and, accordingly, should not be unduly relied upon.
TSX: CR
STRATEGIC GROWTH PLAN
PRODUCTION GROWTH
Increased Pace of Development to Capture Value From Stronger Commodities Futures
Infrastructure Supports ≈100% Production Growth | Robust Two-Year Plan | ||
Target Production Growth3 2020-2022 | ||||||||||
40 | Q2 | |||||||||
38 | ||||||||||
35.0 | ||||||||||
36 | ||||||||||
(210 mmcfe/d) | 33.0 | |||||||||
boe/d) | 34 | |||||||||
(198 mmcfe/d) | ||||||||||
32 | ||||||||||
(000's | ||||||||||
30 | 32.0 | |||||||||
Production | (192 mmcfe/d) | |||||||||
28 | 2022E | |||||||||
26 | 2020 | ~45% | ||||||||
22.0 | 26.4 | |||||||||
24 | ||||||||||
(132 mmcfe/d) | (159 mmcfe/d) | |||||||||
2021 | Increase from | |||||||||
22 | 2020 to 2022 | |||||||||
20 | ||||||||||
Q4/20 | Q1/21 | Q2/21 | Q3/21 | Q4/21 | Q1/22 | Q2/22 | Q3/22 | Q4/22 | ||
Guidance Guidance |
- Plan to match production volumes with processing and transportation capacity
- Ramping up production into an improved commodity price environment
- Designed to materially increase AFF1 by increasing production, reducing cash cost per boe1 and increasing margins
- Achieved targeted leverage at less than 1.0 net debt to LTM EBITDA Ratio2 by end of 2022
5 Crew Energy Inc. Corporate Presentation
- See 'Reader Advisories - Non-IFRS and Other Financial Measures. Certain additional disclosures for these specified financial me Certain additional disclosures for these specified financial measures or ratios have been incorporated by reference herein and can be found in the "Advisories - Non-IFRS and other Financial measures" section of the Company's MD&A for the year ended 2021, available on SEDAR at www.sedar.com and on the Company's website under the Investors section.
- Supplementary financial measure that does not have any standardized meaning as prescribed by International Financial Reporting and therefore, may not be comparable with the calculations of similar measures for other entities. See "Advisories - Non-IFRS and Other Financial Measures" contained within this corporate presentation.
- See Supplemental Information Regarding Product Types in Appendix for breakdown of production by product type.
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Crew Energy Inc. published this content on 21 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 September 2022 16:49:05 UTC.
