Overview Balanced growth strategy delivering Consistent execution driving performance and improving returns Transforming the foundation Advancing growth pillars 2
On Track to Achieve Our Targets 2010 2012 2012-2017 Actuals 2015 Targets Forecast Target (1) Production (mboe/d) 287 3-5% CAGR 301 5-8% CAGR 155% Reserve Replacement 140% 140% 174% 2 year Ratio average average average Return on…
2013 Capital and Production Guidance Capital Expenditures (billions) Production (mboe/day) 4.7 4.7 4.8 Forecast range 310 330 mboe/d Forecast 2012 Guidance cash outlay: 4.1 billion 2013 Guidance cash outlay: 4.3 billion 4
Foundation
Heavy Oil Advantage Very large resource position Industry-leading infrastructure and integration 30 years of thermal recovery experience New technologies and techniques continue to increase recovery Production grows 25+% over plan…
Thermal Projects Pipeline Thermal Production Development Project (bbl/d) Timeline Bolney/Celtic Area Paradise Hill Pikes Peak 5,000 Producing 1982 Bolney Celtic Bolney/Celtic 13,000 Producing 1996 Sandall Rush Lake Pilot…
Transforming the Foundation Heavy Oil Thermal Success Name Plate Capital Current Production Intensity F&D Operating Project Production (bbl/d) (/flowing (/bbl) Costs (/barrel) (bbl/d) barrel) Pikes Peak 8,000 11,000 24,000 12 10…
Transforming the Foundation Western Canada Total PIIP Approximate 2012 Production Resource Play mmboe* Net Acres Activity boe/d /section Established Oil Slater Bakken 18,000 23 wells River Viking 60,000 51 wells 5 - 10 Oil Cardium…
Liquids Rich Gas: Ansell Husky Ansell Cardium Normalized Production vs. Type Curve Ansell Cardium Production (boe/calendar day) Husky average (2 wells propane frac) 200 net sections Industry water & oil frac HZ average…
Emerging Resource Plays Total PIIP per Acres (net) Locations 2012 Activity 2013 Plan Section Continue to de-risk 400,000 acres 2,500 14 wells drilled 20 - 30 mmboe Refine completion strategies 600+ net sections 4 wells per section…
Focused Integration Achieving World Market Prices Realized Pricing on Upstream Production Processed YTD September 30, 2012 Realized Price /bbl Brent Pricing Benchmark US Refining I&M CDN Upgrading & Refining Field…
Downstream Reliability/Flexibility Downstream Assets Capacity (mbbls/day) Lima Increase feedstock and product Lima 160 flexibility Toledo (Husky 50% WI) 65 Kerosene hydrotreater near completion; will Upgrader 82 increase…
Growth Pillars
Liwan Progress Project progressing according to plan Deepwater 75% complete Drilling finished; three completions remain Deepwater pipelines 65% complete Topsides fabrication on schedule Shallow water is 80% complete Topsides…
Liwan Development Milestones Milestone Timeframe Action Delineation Q4 2009 Completed FEED Q4 2010 Completed Deep and Shallow Water Tendering Q1 2011 Completed Development Drilling Q2 2011 Completed Lower Completions Q4 2011…
Indonesia: Madura Strait Block Developments and Discoveries BD Field has an approved POD and is in the tender phase MDA and MBH fields are being developed in tandem. POD approval pending Four recent discoveries expected to be…
Madura Developments Field Production Budget Development Prices Status MDA & 60 mmcf/d gas US120- Two wellhead Expecting POD draft submitted MBH US150MM platforms and pipeline US6+/mmbtu Upon POD approval AFEs & facility tendering…
Sunrise Energy Project Large resource base 3.7 billion barrels of 3P reserves1 Sunrise Phase 1 and 2 approvals in place for 200,000 bbl/day (gross) Excellent reservoir quality and oil saturation Cost pressure requires constant…
Sunrise Milestones Milestone Expected Action Timeframe Drilling spud first horizontal well Q1 2011 Completed Commence major construction Mid-2011 Completed Sunrise May 2011 Drilling complete 2nd Half 2012 Completed ahead of…
Sunrise Cost Certainty Contracting strategy producing desired results Central Processing Facility converted to lump sum: More than 85% of the project costs have a high degree of Lump Sum spent certainty 2.7 billion (gross)…
Atlantic Region Overview Strategy of near-field developments planned North Amethyst Hibernia (2013) South White Rose Extension (2014) West White Rose Extension (2016/17) Near-field opportunities: Northwest White Rose West…
South White Rose Extension Project Combined oil production and gas and water injection centre targeting 20 MMBBLS (3P reserves1) of oil (net) Budget: 800 million (net) Milestone Expected Action Timeframe Drill centre Q3 2012…
West WestWhite WhiteRose ExtensionProject Rose Extension Project Wellhead Wellhead Platform Platform Targeting around 80 MMBBLS (3P reserves1) of oil (net) Milestone Expected Action Timeframe Environmental Q2 2012 Completed…
Summary Balanced growth strategy delivering Consistent execution driving performance and improving returns Transforming the foundation Advancing growth pillars 25
Advisories The Company uses the term barrels of oil equivalent (boe), which are calculated on an energy equivalence basis whereby one barrel of crude oil is equivalent to six thousand cubic feet of natural gas. Readers are cautioned that…
Resource Play Reserves Summary as at December 31, 2011 Probable Possible Proved Reserves Resource Play Reserves Reserves Oungre Bakken 1,390 mbbl 201 mbbl - Redwater Viking 5,664 mbbl 503 mbbl - Alliance Viking 1,367 mbbl 17 mbbl…
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