North America leading, returns-focused business Base North America conventional Flat for a decade at 1 Free cash flow to invest 80-90 mboe/d Growth 2 5-10% sustainable growth North America shale Liquids and leading gas…
Portfolio production Production and unit operating costs Liquids production Percentage (%) /boe mboe/d 100 10.0 100 75 7.5 75 50 5.0 50 25 2.5 25 0 0.0 0 2008 2011 2015 2008 2011 2015 Unit operating costs Shale…
Conventional portfolio overview British Alberta TLM land Net well Columbia Area Product Net acres locations Conventional gas Tight gas Oil/ Cardium oil and Monkman Liquids rich gas liquids rich 194,000 950 Monkman gas/Sundance…
Wild River 2011 TLM land Key Metrics 2009 2010 assump- Wild River area tions Gas pipeline Net new wells 4 6 8 Deep cut plant on-stream Well metrics (TLM operated) EUR per well (mboe) 250 450 450 30 day IP per well 280 380…
Leading shale portfolio TLM land Industry full cycle break-even Area of operation /mcfe 5.5 Woodford Bossier Haynesville 5.0 Montney Montney JV JV Horn River Fayetteville Average Average working working interest…
Shale running room 2010 contingent resource Net well locations tcfe 3 6 Marcellus (PA) 4 10 Montney Farrell 10 Creek/Cypress A JVs 13 Total: 46 Other Montney Eagle Ford Montney Heritage (Groundbirch) Marcellus (PA)…
Eagle Ford Shale JV JV land 2011 Key metrics Major pipeline assumptions Sales pipeline Net new wells on-stream 25 San Average production (mmcfe/d) 55-65 Antonio Horizontal well metrics (TLM operated) Texas EUR per well (mboe)…
Montney Shale Farrell Creek & Cypress A Sasol JV Farrell Creek horizontal type curve 2011 mmcfe/d Key metrics 2010 assumptions 10 200 days average (5 wells) Net new wells on-stream 20 25 8 Average production 26 50-60…
Options for gas development Nymex (/mmbtu) 10.0 Pipeline favoured 7.5 5.0 GTL & LNG favoured 2.5 50 60 70 80 90 100 110 WTI (/bbl) Quebec Utica Shale TLM land Quebec Key metrics Horizontal well…
Shale learning curve Marcellus example Marcellus total D&C capex per frac stage Marcellus EUR per well million/350 feet lateral bcfe 1.2 Complete 5 Drill and construct 4 +67% 0.8 -56% 3 2 0.4 1 0.0 0 2008…
New technology Multilateral Real Time Operations Center Testing multilateral completions in Reduction of non-productive time a high pressure setting Drilling program optimization Potential D&C cost savings up Safe reliable…
North America incremental production Incremental production mboe/d Shale portfolio 160 Marcellus Full cycle break-even Montney…
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