Investors
Why Invest in Crew
Opportunity to gain exposure to growing Montney development
Significant growth potential, improving netbacks and robust liquidity profile
Committed and experienced team with a history of value creation
Strong ESG commitment to build a sustainable business
Shareholder and bondholder alignment with responsible risk management
Stock Information
TSX:CR
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OTCQB:CWEGF
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UPCOMING DATES
Q2 2024 Results Release
August 7th, 2024 (after market)
NOTE: The above dates have been tentatively assigned as proposed dates for release and may be subject to change.
Analyst Coverage
The firms and analysts listed below follow CP Energy Ltd. and provide research coverage. CP Energy Ltd does not distribute analyst research reports. Please contact the firm directly if you require further information. Any opinions, estimates or forecasts regarding performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of CP Energy Ltd Energy or its management.
| ATB Capital Markets | Patrick O’Rourke | (403) 539-8615 |
| BMO Capital Markets | Jeremy McCrea | (403) 355-1444 |
| Canaccord Genuity | Mike Mueller | (403) 691-7808 |
| Cormark Securities Inc. | Garett Ursu | (403) 750-7221 |
| Desjardins Capital Markets | Chris MacCulloch | (403) 532-6617 |
| National Bank Financial | Dan Payne | (403) 290-5441 |
| Peters & Co. Limited | Christian Comeau | (403) 261-2292 |
| RBC Capital Markets | Michael Harvey | (403) 299-6998 |
| Scotia Capital | Cameron Bean | (403) 218-6786 |
| TD Securities | Aaron Bilkoski | (403) 299-3294 |
| Velocity Trade | Mark Heim | (403) 561-4674 |
Hedging
Our Hedging Strategy
As part of the Company’s ongoing risk management program, CP Energy Ltd enters into derivative and physical hedging contracts. CP's risk management program incorporates the use of puts, costless collars, swaps and fixed price contracts to limit exposure to fluctuations in commodity prices, interest rates and foreign exchange rates while allowing for participation in commodity price increases. The Company’s financial derivative trading activities are conducted pursuant to the Company’s Risk Management Policy approved by the Board of Directors.
There are key benefits to implementing a disciplined and consistent risk management strategy:
- Hedging can reduce volatility of funds flow from operations and underpin the capital expenditure program
- Establishing a floor or fixed price for commodities can impart an enhanced degree of predictability in the funds flow, which contributes to greater accuracy in growth planning
Hedges as at May 9, 2024
2024
- 2,500 GJ per day of natural gas at an average price of C$2.76 per GJ, or C$3.37 per mcf using CP's heat factor, for the remainder of 2024;
- 2,000 bbls per day of condensate at an average price of C$104.04 per bbl for Q2 2024;
- 1,750 bbls per day of condensate at an average price of C$104.01 per bbl for 2nd half 2024;
- 500 bbls per day of WTI at C$112.00 per bbl for Q2 2024; and
- 500 bbls per day of WTI at C$109.25 per bbl for 2nd half 2024.
2025
- 5,000 GJ per day of AECO natural gas at an average price of C$3.15 per GJ, or C$3.84 per mcf using CP's heat factor, for 2025;
- 15,000 GJ per day of AECO natural gas utilizing costless collars at $2.78 by $3.28 per GJ, for 2025;
- 500 bbls per day of condensate at an average price of C$101.63 per bbl for 1st half of 2025; and
- 250 bbls per day of condensate at an average price of C$100.00 per bbl for 2nd half of 2025.
Notes
- Targeting 40% to 50% hedged on projected natural gas production
- Condensate hedge market is illiquid requiring a short term hedging strategy that is executed in 6-month increments
Tax Forms
Following is a link to the US IRS Form 8937, Report of Organizational Actions Affecting Basis of Securities, which pertains to issuers that engage in organizational actions affecting the basis of a specified security to provide certain information to the IRS.
