ENCANA CORPORATION Q3 2017 Results Conference Call November 8, 2017
FOCUS ON QUALITY CORPORATE RETURNS Demonstrating that our business works today Delivering quality corporate returns through the cycle Strong liquids growth continuing to drive margin expansion Set up to deliver on Q4 2017, confidence…
FUNDAMENTALS OF THE BUSINESS ARE WORKING More Valuable & Resilient Cash flow per share of 0.28 in Q3 2017F - 2022F Cash Flow 25% CAGR* On track to deliver 11/BOE corporate 4,000 20 margin in 2017 Corporate Margin (/BOE)…
DRIVING MARGIN EXPANSION Delivering High Margin Production Growth 35% growth in high value oil and Oil & Condensate on Track to Grow 35%* condensate from Q416 to Q417 120 Driven by growth in the Permian and Montney Strong results…
STRONGLY AHEAD IN YEAR 1 OF 5 YEAR PLAN Core Assets on Track to Deliver Top End of Guidance Robust corporate margin expansion Core Production Expected to Grow 30% through higher value product mix and lower MBOE/d costs 325 100% Core…
PERMIAN TRACK RECORD OF DELIVERY Advanced Completions Fueling 50% Permian Growth 2017 program delivering 50% growth Q416 to Q417 On Track to Grow Permian Production to 75MBOE/d in Q4 Reinforced by strong Q4 results to date 80…
PERMIAN MAXIMIZING RETURNS AND RECOVERY 2017 Cube Development Results Permian Cube Evolution Step-change productivity increases 150 Abbie Laine Q1 2017 Cube development approach continues to RAB 2 Q2 2017 Midland evolve in 2017 125…
MONTNEY TRACK RECORD OF DELIVERY Delivering Condensate Growth Significant Condensate Production Across Montney Acreage Well targeting and completion design driving 75 well productivity Cumulative Condensate Pipestone VO…
MONTNEY MARGIN EXPANSION Driving Cash Flow Growth Montney Margin Expansion with Increased Liquids Montney liquids production set to 10.00 25% more than double from Q4 2016 to 9.00 Q4 2017 20% Normalized /BOE* Margin impact…
EAGLE FORD TRACK RECORD OF DELIVERY Generating Free Cash Flow Strong performance from Eagle Ford and Austin Chalk Average 2017 Eagle Ford Program Productivity* 250 Q3 production of 52 MBOE/d Cumulative Production Maintaining…
DUVERNAY TRACK RECORD OF DELIVERY Delivering Record Performance Average 2017 Duvernay Program Productivity* Strong production performance 300 Cumulative Production October production of 24 MBOE/d 250 Simonette South VRGC 200…
INNOVATION SUCCESS Identifying Optimal Completion Design and Geometry Applying advanced completions to high-density, Key Completion Design Factors stacked development Key principles: Tight cluster spacing and optimal hydraulics…
STRONG Q3 PERFORMANCE On Track to Achieve 2017 Guidance Q3 2017 YTD Q3 Corporate margin ahead of plan 2017 10.77/BOE YTD Net Earnings (MM) 294 1,056 11.00/BOE expected full year 2017 Cash Flow (MM) 270 899 Corporate Margin (/Boe)…
RISK MANAGEMENT PROGRAM Adds Greater Certainty to Cash Flow and De-Risks Capital Program Oil and Condensate Positions Natural Gas Positions 100 1.50 36.88 x 47.17 x 54.49 1.25 Volume (Mbbls/d) 39.40 x 49.95 x 61.40…
DISCIPLINED FINANCIAL MANAGEMENT Balance Sheet Well Positioned for Price Volatility Well positioned for price volatility Leverage Rapidly Dropping Robust hedge position 3.5 3.2x Expect to have 5 billion of liquidity at year-end…
FOCUS ON QUALITY CORPORATE RETURNS Our Business Works Today Strategy Execution World class portfolio of assets Track record of delivery Execution excellence Culture of innovation both technical and commercial Market fundamentals…
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