Corporate Snapshot TSX: TOG Market Summary 2017e Production Basic Shares Outstanding 196mm Average: 20,800 boe/d Average Daily Volume1 1.2mm shares Exit: 22,500 boe/d (88% liquids) Market Cap / Enterprise 1.4bln / 1.7bln Value…
Proven Strategy Per share growth Competitive advantage through organic Capital efficiencies development & strategic acquisitions Cash costs Operational Integrated Expertise Approach Financial Sustainability Flexibility Long-term…
Strategic Priorities Free Cash Flow Managing a Cyclical Business Dividend Balance sheet strength is key Focus on asset quality / capital Organic Growth efficiencies Manage decline profile for sustainability Asset…
Balanced Light Oil Asset Base Low decline, high netback, light oil assets Southeast 400 net undrilled conventional Saskatchewan locations Alberta Saskatchewan Conventional 94% liquids Significant management experience in area…
SE Saskatchewan Conventional Cash Flow Engine Conventional Pools Large Oil-in-Place1 5 to 100+ mmbbls Depth 1,000 2,000 m Oil Quality 30-40 API Well Spacing 75 150m inter-well Undrilled Locations2 400 net Booked Locations…
SE Saskatchewan Conventional SE Saskatchewan - Conventional & Fracd Midale Conventional Mississippian: Stacked, discrete flow units, Frobisher: Open hole, 1/2 mile hz excellent rock properties Midale: 30 stage liner, 5…
SE Saskatchewan Conventional Cash Flow Engine 300 2014 Economic Parameters1 280 260 2015 DCE&T 0.9mm 2016 240 IP 365 46 bopd 51 boepd Production Rate, 30 Day Avg (BOPD) 2017 220 50 mbbl Curve Reserves 50 mbbls 55 mboe…
SE Saskatchewan Conventional SE Saskatchewan Conventional Wells Drilled vs Inventory 400 350 Inventory has been expanded 300 through high quality acquisitions 250 Well Count 200 Extensive experience in area drives 150…
Torquay / Three Forks Light Oil Resource Play Large Oil-in-Place1 5 mmbbls / section 50 net prospective Land sections Depth 2100 2300m Oil Quality 40 API sweet Well Spacing 4 wells / section Undrilled Locations2 150 net…
Torquay / Three Forks Torquay / Three Forks Units 4-6 Units 1-3 Trap: Combination stratigraphic-structural, proximal to Bakken 30 stage liner, 40 tonnes/stage, fracd with oil generation window slickwater 1 mile hz…
Torquay / Three Forks Light Oil Resource Play 350 Torquay 175 mbbl Curve Economic Parameters1 300 DCE&T 2.8mm Average Production Rate, 30 Day Avg (BOPD) IP 365 119 bopd 250 Reserves 175 mbbls Production Adds 23,530 per…
Torquay / Three Forks Depth and Quality of Inventory Torquay/Three Forks Wells Drilled vs Inventory 160 Initial footprint was acquired through 140 2013 strategic acquisition 120 100 TORC exploration program along with Well…
Cardium Light Oil Low-Risk Development Inventory 15
Cardium Trend Development Drilling Large Oil-in-Place1 5 mmbbls / section Land 95 net light oil sections Depth 1600 2000m Oil Quality 40 API sweet Well Spacing 4 wells / section Undrilled Locations2 290 net Booked…
Cardium Trend West Central Alberta - Cardium Cardium Regional shoreface, stratigraphic trap, low permeability halo and discrete pools Land wellbore in upper porosity and geosteer in best quality rock 25 stage liner, 20…
Cardium Trend Development Drilling 350 Economic Parameters1 250 mboe Curve 300 Average DCE&T 2.7mm IP 365 85 bopd 135 boepd Production Rate, 30 Day Avg (BOEPD) 250 Reserves 156 mbbls 250 mboe Production Adds 20,000 per…
Cardium Trend Depth and Quality of Inventory Cardium Wells Drilled vs Inventory 300 250 Maintaining inventory through tuck-in 200 acquisitions replacing annual drill program Well Count 150 275 280 280 280 280 100…
Supporting Sustainability Asset Quality with Financial Flexibility 20
Sustainability Analysis Sustainability Highlights Production Run Rate Production boepd 22,500 Decline Rate % 23.0% Run rate production of 22,500 Annual Production Decline boepd 5,175 boe/d (87% oil & NGLs) o Corporate decline of…
Sustainability Analysis Commodity Sensitivity Run Rate 22,500 boe/d WTI (USD) 45.00 50.00 55.00 60.00 65.00 FX (US/C) 0.78 0.78 0.78 0.78 0.78 WTI (C/bbl) 57.69 64.10 70.51 76.92 83.33 Edm Lt vs C WTI Differential (/bbl) -4.50…
Balance Sheet Strength 450 285mm net debt 400 (year end estimate) 350 300 250 mm 400mm bank facility 200 150 100 50 50% undrawn bank line at 0 Q4 '14 Q4 '15 Q4 '16 Q2 '17 Q3 '17 end of Q3 Drawn Facility Size…
Dividend + Disciplined Growth Checklist Sustainability of the business model driven by: Decline rate 23% Operating netback1 30 Capital efficiency: all-in IP365 26,000 per boe/d (2018 budget) 285mm net debt (year end estimate)…
Investment Summary Low decline, high netback Focused, light oil asset base production base Sustainable yield All-in payout ratio targeted below 100% Opportunity for CPPIB to support future Strategic relationship growth and / or…
Corporate Information Management Banks Analyst Coverage Brett Herman Bank of Montreal BMO Capital Markets - Ray Kwan President & Chief Executive Officer The Toronto-Dominion Bank Jason Zabinsky Canadian Imperial Bank of Commerce…
Appendix 27
2018 Capital Program 165mm program Flexibility to adjust spending levels and asset allocation through the year 95mm in 100 2nd half 5-7% growth maintains current decline rate under 90 25% 80 70mm in Focus on sustainability and…
Wells Drilled Corporately Depth and Quality of Inventory Total Wells Drilled Depth of Inventory Across All vs Inventory 900 25% Core Areas 800 700 20% Each location thoroughly scrutinized through detailed evaluation by the…
Hedging Current Hedge Summary (C/Bbl) Volume (Bbl/d) Type Low High Index Jan 1, 2017 - Dec 31, 2017 250 Collar 55.00 77.50 CWTI Jan 1, 2017 - Dec 31, 2017 250 Collar 55.00 80.25 CWTI Jan 1, 2017 - Dec 31, 2017 250 Collar 55.00 82.00…
Significant Cornerstone Investment from CPPIB CPPIBs Relationship Investments group provides long-term strategic capital to select companies CPPIB believes are positioned to be leaders in their respective industries Strategic…
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