Stronger and More Resilient Business Business Strategy On Course Focused diversification contributing to resiliency Integrated value chains maximizing margins Transition to low sustaining capital business reducing earnings…
Sound Capital Management Sustainable Cost Structure Reduction Low Sustaining Production & Earnings Break-Even Earnings break-even to sub 40/bbl US WTI 375 70 by end of '16 WTI Oil Price US/bbl Continued investment in low…
2016 Program Building Resiliency Capex: 2.1 - 2.3 Billion Conservative price planning assumption Forecast Range Capex to remain in balance with cash flow 2.0 Corporate Production guidance: 315-345 mboe/d* Downstream Several low…
Operations Update
Rejuvenating Western Canada Transition from legacy assets to resource plays Western Canada Resource Play Production 40 Disposition of 55,000 boe/d (50% gas) Estimated 3.5 bln in efficiencies created over mboe/d 10 years…
Thermal Portfolio Momentum Proven thermal formula Lloydminster Production 140 Unmatched land and infrastructure position Three new Lloydminster projects to add mbbl/d 24,500 bbls/d of production by end of '16 Rush Lake 2…
Sunrise Steady Ramp Up Drilling Days Per Well Ramping up to 60,000 bbls/d (gross capacity) by 10.0 the end of '16 (50% W.I.) Ramp up plan calibrated for operating pressure and well length days 5.0 8.7 Approvals in place for…
Two Integrated Value Chains Lloyd Thermal and Sunrise Low cost structure maximizes realized value from Integrated Value Chains 90.00 each barrel Maintaining heavy oil integration 75.00 Lima Crude Oil Flexibility Project ('16 -…
Asia Pacific Fixed Price / Volume Business Growing China Liwan Gas vs Canadian Gas Price 16.00 Liwan 3-1 and Liuhua 34-2 onstream Stable, high netback production 12.00 Liuhua 29-1 ('18-'19) Realized Liwan Gas Price Tie into the…
Atlantic Satellite Fields Maintaining Steady Production Jean DArc Basin Atlantic Region Production Progressing several satellite fields 60 South White Rose Extension wells on stream (Q3 '15) mboe/d Peak production of 15,000…
Stronger and More Resilient Business Strategy On Course Rich and diverse portfolio contributing to resiliency Sound Capital Management Strengthening the balance sheet Conservative price planning assumptions Capital spending to…