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 & 360 Earnings Break-Even 70 Earnings break-even to sub 40/bbl US WTI by end of '16 WTI Oil Price US/bbl 60 Continued investment in low…
Financial Flexibility Debt, Preferred Shares and Credit Facility Strengthening the Balance Sheet Maturities 1200 No new net debt over near term Maintain strong investment grade credit rating Financial flexibility millions…
2016 Program Building Resiliency Capex: 2.1 - 2.3 Billion Conservative price planning assumption 2.3 Forecast Range Capex to remain in balance with cash flow Corporate Production guidance: 315-345 mboe/d* Downstream Several low…
Rejuvenating Western Canada 50 Western Canada Resource Play Production Transition from legacy assets to resource plays 40 Disposition of 55,000 boe/d (50% gas) mboe/d 30 Estimated 3.5 bln in efficiencies created over 10 years…
Thermal Portfolio Momentum 150 Lloydminster Production Proven thermal formula Lloydminster Q4 '15 production: 114,300 bbls/d 100 mbbl/d Unmatched land and infrastructure position 2016 growth projects 50 Three new Lloydminster…
Sunrise Steady Ramp Up Drilling Days Per Well Ramping up to 60,000 bbls/d (gross capacity) 10.0 around 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…
Two Integrated Value Chains Lloyd Thermal and Sunrise Low cost structure maximizes realized value from Integrated Value Chains 70.00 each barrel Maintaining heavy oil integration 60.00 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 on stream 300 mmcf/d and 15,000 bbls/d liquids (gross) 12.00 Liuhua 29-1 ('18-'19) Realized Liwan Gas Price…
Atlantic Satellite Fields Maintaining Steady Production Jean DArc Basin Atlantic Region Production Q4 '15 production of 43,500 bbls/d 60 Progressing several satellite fields South White Rose Extension wells on stream mboe/d…
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…