CREATING SUSTAINABLE VALUE September Investor Presentation
Objectives & Priorities Focus on Debt reduction Improve market capital discipline and balance access and free cash flow sheet strength generation Existing production capacity, Free cash flow will continue Maximize the pricing supported…
Disciplined 2019 Capital Program Capital budget of 200 million prioritizes financial strength while maintaining flexibility to support production growth beyond 2019 Budget fully-funded from forecast adjusted 2019 Capital Budget 200MM…
USGC Heavy Oil Market Outlook Well-positioned to access strong USGC market with firm commitment on Flanagan/Seaway, increasing from 50,000 bbls/d currently to 100,000 bbls/d starting mid-2020 USGC Heavy Crude Imports(1) USGC is expected…
Assets to Access High Value Markets Strategic marketing assets de-risk the business and enhance net realized bitumen price 1.4 mmbbls Western Canadian Storage Manages Enbridge apportionment Future 20,000 bpd Edmonton Bruderheim on…
Strategic Market Access Contracted egress capacity in place for up to 90%(1) of volumes post 2H20 with growing exposure to premium USGC market 160 145 mbbls/d 132 mbbls/d blend sales capacity(2) 140 blend sales(2) Western Canada…
Blend Sales by Market Actual 1H19 results Edmonton (US/bbl) U.S. Gulf Coast (US/bbl) TOTAL TOTAL US/bbl, except as indicated Pipeline FOB Rail Pipeline Delivered Rail (US/bbl) (C/bbl) WTI 57.36 57.36 57.36 57.36 57.36 76.49…
Focus on Sustainability Industry Leading Track Record Net GHG Intensity (kg CO e/bbl)) 2 Water Withdrawal Intensity(bbl water per bbl bitumen) 75 0.70 0.60 0.50 65 0.40 More than 20% below 0.30 55 in situ industry average 0.20…
APPENDIX 10
Commodity Price Hedging Strategy focused on protecting capital program while providing flexibility to fund debt reduction and/or growth; targets locking in a realized bitumen price to reduce cash flow volatility As of July 29th, 2019…
Inventory of Highly Economic Growth Optional growth projects identified to support buildout to 210,000 bbls/d at Christina Lake are execution ready pace of growth dependent on market conditions 210,000+ bbls/d +52,000+ bbls/d…
Material Unrecognized Value from Tax Pools 5.9 billion of tax pools immediately deductible Composition of Tax Pools (C billion) Amount of Pools Illustrative Value of Tax Pools Utilized by Year(1) at 8.0% Discount Rate Non-Capital…
Investor Relations Investor Relations T 403.767.6206 E investmegenergy.com Media Relations T 403.767.1485 E mediamegenergy.com
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