Crescent Point Energy to Acquire Ute Energy’s Upstream Arm for US$861MM – Acquisition will Enable Crescent to Enter Uinta Basin and Expand its Exit Production by Around 9%

Pages: 6 Published: November 01, 2012 Report Code: GDGE0428M&A

Crescent Point Energy Corp. (Crescent) agreed to acquire Ute Energy Upstream Holdings LLC (Ute) from Ute Energy, LLC (Ute Energy), a portfolio company formed by Ute Indian Tribe (Ute Tribe) of the Uinta and Ouray Reservation and Quantum Energy Partners LP (Quantum), for a purchase consideration of approximately US$861MM, including a cash consideration of US$784MM plus the assumption of US$77MM in net debt. The transaction will have an effective date of November 30, 2012. BMO Capital Markets Corp. and RBC Capital Markets, LLC are acting as financial advisors, whereas Evercore Partners Inc. is acting as strategic advisor to Crescent Point. Tudor, Pickering, Holt & Co., LLC is acting as financial advisor and Credit Suisse Securities (USA) LLC is acting as strategic advisor to Ute Energy in the transaction.

Scope

Rationale behind Crescent Point Energy acquiring Ute Energy's upstream arm.

Rationale behind the Ute Tribe to divest its upstream business in order to fund its midstream business and other investment activities .

Geography Covered- US.

Reasons to Buy

Develop a sound understanding about how acquisition of Ute will enable Crescent to enter Uinta Basin and expand its exit production by around 9%.

To know about how Crescent acquired Ute at a premium of around 39% of its 1P reserve multiple.

To have an understanding of how Ute Tribe is divesting its upstream business in order to fund its midstream business and other investment activities .

Table of Contents

1 Table of Contents

1 Table of Contents 1

1.1 List of Tables 1

1.2 List of Figures 1

2 Crescent Point Energy to Acquire Ute Energy's Upstream Arm for US$861MM 1

2.1 Deal Overview 1

2.2 Deal in Brief 1

2.3 Acquisition of Ute to Enable Crescent to Enter Uinta Basin and Expand its Exit Production by Around 9% 1

2.4 Crescent Acquires Ute at a Premium of around 39% of its 1P Reserve Multiple 5

2.4 Crescent Acquires Ute at a Premium of around 39% of its 1P Reserve Multiple 5

2.5 Ute Divestment to Fund Midstream Business and Other Investment Activities of Ute Tribe 5

2.6 Deal Financials and Valuations 5

3 Appendix 7

3.1 Sources 7

3.2 Methodology 7

3.3 Contact Us 8

3.4 Disclaimer 8

List of Tables

List of Tables

Table 1: Oil and Gas Industry, Crescent, Major Acquisitions of Assets in the US and Canada, 2011 to Present 4

Table 2: Oil and Gas Industry, Utah, 1P Reserve Multiple for Similar Deals, 2008 to Present 5

Table 3: Companies Involved 5

Table 4: Financials of the Deal 6

Table 5: Advisor Information 6

Table 6: Target Information 6

Table 7: Target’s Production and Reserves Information 6

Table 8: Company Valuation Multiples 6

Table 9: Commodity Prices in $, Last Close 7

Table 10: Acquirer Information 7

Table 11: Vendor Information 7

List of Figures

1.2 List of Figures

Figure 1: Crescent, Increase in Exit Production of Oil and Natural Gas Due to Acquisition of Ute (boed), 2012 2

Figure 2: Location of Assets in the Uinta basin to be Acquired by Crescent, 2012 2

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