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PEYTOS HISTORY LAND GROWTH
Peyto continues to expand its Alberta Deep Basin
footprint with additional drilling inventory.
1.1
Peyto Lands
2,000
1,800
1,600
Million Net Acres 1,400
18%
CAGR
1,725
1,200
Net Sections 1,000
800
Net Peyto Sections 600
400
200
-
1999 2004 2009 2014 2019 2024
Lands as of Dec 31, 2024
42
Peyto Exploration & Development Corp
April 2025
8
Alberta Deep Basin
Mar 2025
The contiguous Tourmaline interconnected Deep Basin
TCPL Cretaceous gas asset is effectively Albertas Largest Gas Field
Musreau
/Kakwa Current Production 320,000 boepd
Netook Current Reserves 1,945 mmboe (as at Dec 31, 2024)
Tourmaline Land Base 3.2 million acres
Oldman Drilling Inventory 14,794 hz locations
Cutpick
Pine Creek
The Company has drilled 1,345 Wild
wells to date with a future drilling River Rosevear
inventory of 14,794 hz locations
Hinton
Ansell Cynthia
Columbia
Westerose
Doe Creek
Brazeau NE Alberta
Cardium
BC
TCPL
Dunvegan Bashaw
Viking
Badger Willesden
Notikewin
Green
Falher Strachan
Garrington
Wilrich
Bluesky/ Ricinus Hanna
Glauconitic
Gething Legend
Crossfield
Tourmaline Lands
Cadomin
Nikinassin Tourmaline Gas Plant
TCPL
Tourmaline Oil Corp.
March 2025
-127-11_01_2020-Corporate_Presentation_November_2020/Canadian_Natural_Resources_(CNRL)-127-11_01_2020-Corporate_Presentation_November_2020_PAGE-009.jpg)
Corporate Presentation November 2020
Canadian Natural
2020 Operating Cost Savings
2019 2020F 2020 Targeted
( million) Actual Revised(2) Cost Savings
North America Natural Gas 610 575 35
North America E&P Liquids(1) 1,230 930 300
Thermal in situ(1) 865 795 70
International Light Crude Oil 500 410 90
Oil Sands Mining and Upgrading 3,275 3,025 250
Total Targeted Operating Cost Savings 745
In addition, general & administrative expenses reduced by 100 million from original
2020 budget
Management salaries and Director fees reduced between 10% - 20%
(1) 2019 includes proforma full-year of Jackfish using an average of 100,000 bbl/d of production and pre-acquisition operating costs of 12.00/bbl and Manatokan heavy crude oil
using an average of 20,000 bbl/d of production and pre-acquisition operating costs of 16.00/bbl.
(2) 2020F assumes WTI of US36.37/bbl, WCS differential of 38%, AECO price of C1.94/GJ and FX US1.00 to C1.38.
HISTORY OF EXECUTION ON ECONOMIC MARGIN ENHANCEMENTS 16
2020 Free Cash Flow Enhancements
(C billion)
2.5
0.1
2.0
0.7
1.5
2.2
1.0
1.4
0.5
0.0
Capital Operating G&A Total
Cost in 2020
2.2 BILLION FREE CASH FLOW ENHANCEMENTS 17
8
Canadian Natural Resources (CNRL)
November 2020