Stronger and More Resilient Business Business Strategy On Course Focused diversification creates resilience Integrated value chains maximizing margins Transition to low sustaining capital business reducing break even Sound Capital…
Lower for Longer and More Volatile Planning for lower for longer crude pricing Historical WTI and Futures Pricing 110.00 and extended period of high volatility Inherent OPEC instability 90.00 Resilience of shale US/bbl…
Sound Capital Management Capex: 2.9-3.1 Billion Disciplined capital spending 3.0 Conservative price planning assumption of Guidance Range 40/bbl US WTI and 3/mcf AECO Corporate billions Capex to remain in balance with cash…
Sustainable Cost Structure Reduction Lowering Break Even Low sustaining capital projects have reduced 375 70 annual sustaining capital requirement WTI Oil Price US/bbl Earnings break-even to sub 40/bbl US WTI 60 by end of…
Higher Quality Production 2016 production guidance: 330-360 mboe/d* 360 Quality of barrels improving Forecast Range Replacing higher F&D and OpEx Natural Gas Canada mboe/d production with lower cost barrels Natural Gas Asia…
Diversity Is Our Strength Generating high returns 10% After Tax IRR at 40 US WTI and 3 Cdn AECO gas Minimizing exposure to commodity price volatility 2016 Investment Projects Flexibility for changing market conditions Edam East…
Operations Update
Rejuvenating Western Canada Western Canada Resource Play Production Accelerating Western Canada transition from 40 legacy assets to resource plays Focusing on fewer, more material plays mboe/d Driving efficiencies to improve…
Thermal Portfolio Momentum Lloydminster Production Proven thermal formula (engineering to 140 operations) Unmatched land and infrastructure position mbbl/d Three new Lloydminster projects to add 24,500 bbls/d of production by…
Sunrise Ramp Up On Target Forecast Production Ramp Up Ramping up to 60,000 bbls/d (gross capacity) 20 end of '16 (50% W.I.) Actual Production vs. Plan 17,000 bbls/d (Dec 7, '15) Current production 17,000 bbls/d (gross)…
Two Integrated Value Chains - Lloyd Thermal and Sunrise Maintaining heavy oil integration 90.00 Integrated Value Chains Low cost structure maximizes realized value from each barrel 75.00 Lima Crude Flexibility Project ('16-'18)…
Asia Pacific Growing Fixed Price, Set Volume Business Significant production insulated from market Liwan Gas vs Canadian Gas Price volatility 16.00 Liwan 3-1 and Liuhua 34-2 12.00 Stable, high netback production (70+/boe)…
Atlantic Satellite Fields Maintaining High Netback Production South White Rose Extension on stream (Q3 '15) SeaRose FPSO (97% uptime in '15) North Amethyst Hibernia well production expected '16/'17 Peak production target of 5,000…
Stronger and More Resilient Business Business Strategy On Course Focused diversification creates resilience Integrated value chains maximizing margins Transition to low sustaining capital business reducing break even Sound Capital…
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