Strategy on Course Diverse portfolio Focused integration Transition to a low sustaining capital business Lloyd Heavy Oil Thermals Western Canada Oil Sands Atlantic Region Downstream Asia Pacific Region 2
0 20 40 60 80 North Amethyst-Hibernia 4. 3. 2. 1. Atlantic In Fill Well Atlantic In Fill Well Atlantic In Fill Well Atlantic In Fill Well Rainbow NGL Oil Portfolio1 Tucker Colony (WTI US /bbl) Tucker C West Sustaining…
Operations
Steady Production Growth At Sunrise Paced ramp-up Lower temperature, lower pressure reservoir achieving expected results 55 well pairs on production Future debottlenecking opportunities 7
Thermal Transformation Lloyd Thermal Production Thermal growth from 22,000 bbls/d in 10 to more 100 20 mbbls/d /bbl than 100,000 bbls/d by end 16 80 Lloyd projects in-flight to add 24,500 bbls/d of 15 nameplate capacity by the…
Focused Integration Enhancing Returns Integrated Value Chains Maintaining heavy oil integration /bbl Managing price differential risk 60 Physical integration capturing full value Integrating Upstream production planning Full cycle…
Western Canada: Expanding Resource Play Production Targeting high return, high productivity wells Identifying further efficiencies Transitioning legacy asset base Focusing on fewer plays in key areas Ansell Wilrich Ansell…
Asia Pacific Portfolio China Liwan Gas Project Fixed price contract Take or pay volumes, 300-330 mmcf/d (gross) Wenchang (light oil) Net production of 7,100 bbls/d (Q2 16) Madura Strait block (Indonesia) Fixed price contracts,…
Atlantic Region: High Netback Production Infill drilling to maintain production North Amethyst Hibernia formation Drilling completed Target production of 5,000 bbls/d (net) Five additional White Rose infill wells planned West…
Stronger and More Resilient Business Business strategy on course billions Structural changes leading to free cash flow 5.0 US70 WTI Strong balance sheet US60 WTI Diverse portfolio of high quality growth projects 4.0 Establish a…
Advisories The term free cash flow is a non-GAAP measure, which should not be considered an alternative to, or more meaningful than, cash flow operating activities as determined in accordance with IFRS, as an indicator of financial…