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MAY 2014 ANNUAL MEETING – Husky Energy Inc.

Husky Energy Inc. · May 6, 2015 · 22 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 1
    2014 Annual Meeting May 6, 2015
  2. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 2
    Balanced Growth Strategy Delivering 2
  3. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 3
    Foundation Transformation Heavy Oil Production has grown from 89,000 boe/day in 2010 to 120,000 bbls/day today Thermal portfolio continues to expand: Pikes Peak (1984) Bolney Celtic (1996) Paradise Hill (2012) Pikes Peak South…
  4. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 4
    Foundation Transformation Western Canada Developing resource play portfolio Resource play production has grown from 14,000 boe/day in 2010 to 34,000 boe/day today Ansell Wapiti Cardium Strachan Cardium Ansell Kakwa Wilrich…
  5. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 5
    Foundation Transformation Downstream Improving flexibility of feedstock Increased storage capacity at Hardisty and Patoka Increasing product mix 42,000 bbls/day reformer at Toledo refinery New kerosene hydrotreater at Lima…
  6. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 6
    Growth Area Asia Pacific Region Started up Liwan production Fixed price and volume Indonesia gas fields (2017-2019) BD (liquids rich) MDA / MBH MDK Liwan Gas Project Liuhua 29-1 (2017-2019) Low cost production addition 6
  7. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 7
    Growth Area Oil Sands Sunrise Energy Project producing Plant 1B in commissioning Phase 1 ramping up to 60,000 bbls/day (gross) around the end of 2016 Sunrise Energy Project 7
  8. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 8
    Growth Area Atlantic Region Satellite extensions stabilizing production North Amethyst field production South White Rose Extension soon to begin West White Rose assessment progressing Flemish Pass New basin discovered SeaRose…
  9. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 9
    Good Safety is Good Business Trending in the right direction Total Recordable Incident Rate Critical & Serious Incidents 1.5 6.0 per 200K hours worked per 200K hours worked 1.0 4.0 0.5 2.0 0.0 0.0 2010 2011 2012…
  10. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 10
    Balance Sheet Strength Husky - Debt to Capital Employed 25.0% Investment grade credit rating 20.0% Average: 19% S&P: BBB+ 15.0% Moodys: Baa2 10.0% DBRS: A (low) 5.0% Financial flexibility 0.0% 2010 2011 2012 2013 2014…
  11. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 11
    Performance Highlights 2010 2014 6,000 Cash Flow from Operations Adjusted Net Earnings 2,500 2,000 CDN Millions 4,000 CDN Millions 1,500 1,000 2,000 500 - - '10 '11 '12 '13 '14 '10 '11 '12 '13 '14 Production…
  12. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 12
    Committed to Shareholder Returns 40% Four Year TSR (Dec. 31/10 Dec. 31/14)* 30% 24% 20% 10% Cdn Peer Group 0% HSE -10% -20% -30% -40% -50% Dividend Share price *Peers: Canadian Natural Resources Ltd.,…
  13. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 13
    Weatherproofing the Business in the Current Market
  14. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 14
    The New Normal 35 1986 1997-1999 30 Saudi increase OPEC increase 30 Dec 85 Dec 97 25 25 20 20 /bbl /bbl 15 15 OPEC cut OPEC cut Apr 98 Dec 86 10 OPEC cut 10 OPEC cut Apr 99 Jul 98 5 5 0 0 7/1/1985 7/1/1986 7/1/1987…
  15. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 15
    2015 Guidance 2015 Capital Expenditures:3.0-3.1 Billion 2015 Production Guidance: 325,000 355,000 boe/day 5.1 400 300 3.4 CDN Billions MBOE/D Corporate Forecast Range Downstream 200 Natural Gas Asia Pacific Canada…
  16. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 16
    Efficiencies Improving Margins Procurement process realizing Cumulative Procurement Savings 1,800 savings 1.3Bn total 1.3 billion since 2010 savings Targeting an additional 400-600 1,200 CDN Millions million in savings in…
  17. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 17
    Structural Change Leaving More Capital for Growth 2010 2012 2014 2016 (287 mbbl/d) (301 mbbl/d) (340 mbbl/d) (Forecast Exit Rate) 23% 41% 8% 12% Low Sustaining Capital Production Remainder of Production 17
  18. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 18
    Delivering Value Through the Cycle
  19. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 19
    Line of Sight to Near-Term Projects Sunrise Energy Project Phase 1 North Amethyst Hibernia South White Rose Extension 85 Rush Lake Thermal Edam East Thermal Thermal Edam West Thermal MBOE/D Vawn Thermal Atlantic Ansell…
  20. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 20
    Line of Sight to Near-Term Projects Sunrise Energy Project Phase 1 North Amethyst Hibernia South White Rose Extension 85 Rush Lake Thermal Edam East Thermal Thermal Edam West Thermal MBOE/D Vawn Thermal Atlantic…
  21. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 21
    Line of Sight to Near-Term Projects Sunrise Energy Project Phase 1 North Amethyst Hibernia South White Rose Extension 85 Rush Lake Thermal Edam East Thermal Thermal Thermal Edam West Thermal Thermal MBOE/D Vawn…
  22. MAY 2014 ANNUAL MEETING – Husky Energy Inc. – slide 22
    Balanced Growth Strategy Delivering Healthy balance sheet Structural changes and efficiencies have increased resiliency of business and lowered sustaining capital cost Clear line of sight to production and reserves growth Flexible,…

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