2019 Objectives & Priorities 1) Focus on capital discipline Base budget funded from adjusted funds flow at prevailing commodity prices Strong liquidity position and substantial hedges in place for 2019 2) Flexibility to enhance value…
Disciplined 2019 Capital Program Base capital budget of 200 million prioritizes financial strength while maintaining flexibility to support production growth beyond 2019 At US55 WTI, base budget can be Base 2019 Capital Budget 200MM…
Inventory of Highly Economic Growth All projects identified to support buildout to 210,000 bpd at Christina Lake are execution ready pace of growth dependent on market conditions 210,000 + bpd +52,000+ bpd 100,000 bpd +30,000…
Increasingly Insulated from Canadian Pricing Maximizing volumes to the USGC, mitigating impact of Mainline apportionment while optimizing production under current production curtailments MEG Marketing Network 50,000 bpd of committed…
PADD III Heavy Oil Market Outlook MEG is well-positioned to access strong USGC market with firm commitment on Flanagan/Seaway, increasing from 50,000 bpd currently to 100,000 bpd starting July 2020 PADD III Heavy Crude Imports USGC is…
Debt Maturity Profile Ample liquidity and long maturity runway supports financial strength Long-term Debt C2.2B Liquidity US in Millions US2.8B Total Debt As at December 31, 2018 US 1.4B undrawn credit facility Secured 1st lien…
APPENDIX 9
Hedging Position As of January 31, 2019 s 1Q19 2Q19 3Q19 4Q19 2019 2020 WTI Fixed Price Hedges (1) Volume (bpd) 21,105 21,105 21,125 21,125 21,115 - Weighted average fixed price (US/bbl) 67.31 67.31 67.29 67.29 67.30 - % of…
Top Tier Operator in the Sector MEGs Christina Lake has a leading SOR - highlighting asset quality, advantaged economics and efficiency as an operator SOR(1) Cost Structure /boe (2) Operating Expense G&A(3) 10 6.8 8.9 9.4…
Technology Driving Material SOR Reduction The application of eMSAGP at Christina Lake and the eMVAPEX pilot underscore MEGs technological advantage eMSAGP Highlights eMVAPEX Highlights Phase 1 eMSAGP has resulted in a 50% SOR reduction…
Investor Relations John Rogers VP, Investor Relations and External Communications 403.770.5335 john.rogersmegenergy.com Helen Kelly Director, Investor Relations and External Communications 403.767.6206 helen.kellymegenergy.com
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