Canadian Association of Petroleum Producers Oil and Gas Investment Symposium June 13, 2011
Corporate Overview and Financial Strategy Regenerating the Foundation Pillars of Growth
Husky Snapshot- Diversified, Balanced Growth One of the largest Canadian integrated South East Asia energy companies Liwan gas development anchors the upstream business in SE Asia Production 70% oil-weighted Oil Sands and…
Areas of Operation 4
Large Resource Base to Drive Future Production Exploration Contingent Resources Prospect -SE Asia (Block 29/26) Western Canada inventory 1.3 million net acres for -Oil Sands gas and oil resource plays Exploration Discovered Field…
Building Blocks of the Strategy Near-term Mid-term Long-term 0 2 years 3 5 years 5+ years Upstream Acquisitions SE Asia Oil Sands Oil Sands Atlantic Region Regenerate the Western Canada and Heavy Oil foundation Value…
Financial Strategy Ensure adequate liquidity and financial flexibility to fund growth Key Metrics include: Availability of term committed credit facilities (3.1 billion) Return on capital employed Continuous and cost-effective…
Deliverables Planned White Rose Off-Station Defined organic projects driving production and reserves growth Average 3 to 5% annual growth rate Maintain 70% oil bias SE Asia gas production is oil price linked, resulting in higher…
Corporate and Financial Strategy Regenerating the Foundation Pillars of Growth
Western Canada Portfolio (excluding Heavy Oil and Oil Sands) Solid Western Canadian foundation Stable cash flow to fund growth 8.8 million net acres across British Columbia, Alberta, Saskatchewan and Northwest USA 15,000…
Strengthening Our Resource Play Position Horn River Gas Resource Plays Muskwa / Evie 800,000 net acres 129 wells 2011/12 Bivouac Jean Marie 55 mmcf/d 2010 exit rate Oil Resource Plays Cypress 500,000 net acres Montney 185 wells…
Ansell Overview Liquids-rich Opportunity Ansell is one focal point of Huskys liquids- rich gas operations, targeting a 900m gross interval of the Cretaceous section 150,000 net acres operated Multiple gas horizons to be…
Cardium Overview - Oil Resource in Tight Sandstone Kakwa and Wapiti areas in West Central Alberta, at the northern end of the Cardium trend Both feature high rock quality and pay thickness with 45 API oil, developable with…
Heavy Oil Portfolio the Original Resource Play 70 years of heavy oil experience 2.1 million net acres Integrated infrastructure key to strong competitive position Lloydminster Upgrader enhances heavy oil netbacks Upstream…
Heavy Oil The Original Resource Play Thermal Property Size Timeline Technology opportunities Pikes Peak 6,000 bbls/day Producing Horizontal wells Rush Lake 400-500 bbls/day Pilot producing 2011 Thermal technologies South Pikes Peak…
Corporate and Financial Strategy Regenerating the Foundation Pillars of Growth
SE Asia Portfolio China Largest deep water gas discovery in the South China Sea Block 29/26 Gas Fields Liwan 3-1 well advanced Liuhua 34-2, appraisal is complete and preparing regulatory approval Liuhua 29-1, under appraisal…
Liwan Gas Project Partnered with CNOOC Development well drilling completed Plan of development being prepared for submission Gas marketing negotiations are being finalized with oil-linked pricing Major deepwater equipment and…
Oil Sands Portfolio Husky Energy Oil Sands Areas Property Status Discovered 3P PIIP1,2 Reserves1,2 (billion bbls) (billion bbls) Sunrise Development 4.6 1.8 (Net 50%) Tucker Producing 1.3 0.3 McMullen Producing 4.4 0 Pilot…
Pillars -The Sunrise Energy Project World-class oil sands project utilizing established technologies In-situ SAGD development, not mining 50/50 joint venture with BP Regulatory approvals in place for initial phases up to 200,000…
Pillars-Atlantic Region Today 150 million barrels produced from White Rose 41,000 bbls/d of net production in 2010 North Amethyst development Near-term growth West White Rose Pilot Evaluating fixed drilling platform Infill wells…
Pipeline of Upstream Projects Labrador Saleski Greenland 2020 + Sunrise Phase 3 Jeanne d Arc Gas Heavy Oil EOR Caribou Mizzen Horn River / Montney North & South Extension Cypress / Graham/Sinclair Madura MDA-1 Sunrise…
The Course is Set Clear strategy Experienced team Balanced capital: near, mid to long term Top quartile dividend Solid balance sheet and financial flexibility 23
Advisories from previous Disclosure of Oil and Gas Reserves and Other Oil and Gas Information Unless otherwise stated, reserve and resource estimates in this presentation have an effective date of December 31, 2010. Unless otherwise…
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