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2020 Guidance – Husky Energy Inc.

Husky Energy Inc. · Dec 2, 2019 · 22 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 2020 Guidance – Husky Energy Inc. – slide 1
    2020 Guidance December 2, 2019 1
  2. 2020 Guidance – Husky Energy Inc. – slide 2
    2020 Guidance Highlights Capital Plan Drives Improved Margins and Free Cash Flow1 Growth Capital Spending 3.2 3.4B Improved safety and reliability 100M capex reduction from 2019 Investor Day plan; reductions focused in Western…
  3. 2020 Guidance – Husky Energy Inc. – slide 3
    Huskys Value Proposition Improving Safety, Reliability Strengthening Resilience, Increasing Total & ESG Performance Preserving Upside Shareholder Returns Actions underway to be Integrated Corridor largely Strong free cash flow…
  4. 2020 Guidance – Husky Energy Inc. – slide 4
    2019 Milestones Safely Delivered Major Projects Remain on Track 2019 Guidance Status Capital spending* 3.3-3.5 billion On Track Production 290-305 mboe/day On Track Thermals & Oil Sands 129-135 mbbls/day On Track Conventional…
  5. 2020 Guidance – Husky Energy Inc. – slide 5
    Improving Safety & Reliability Target to Become Global Top-Quartile Process Safety Performer By End Of 2022 Lost Time Injury Frequency (per 200,000 exposure hours) Actions delivering: 0.15 No major incidents in 2019 0.12 45%…
  6. 2020 Guidance – Husky Energy Inc. – slide 6
    Safety & Reliability: What Good Looks Like Systematic & In Control Operational and technical requirements: Are documented, correct, well understood and practiced Have clear accountabilities Have defined competencies that can be…
  7. 2020 Guidance – Husky Energy Inc. – slide 7
    ESG Priorities Improving Performance and Reporting Transparency Environment Governance Air Emissions Management Compensation Drivers Reduced overall methane emissions Safety / Environmental performance by 45% from 14-18 = 400,000…
  8. 2020 Guidance – Husky Energy Inc. – slide 8
    2020 Plan Reduced Capital in 2020-2021; Free Cash Flow Inflection Point in 2021 Funds from Operations1,2 Free Cash Flow Paced Production4 Cash Flow from Operating Activities (FFO less capital expenditures) 350 mboe/day 2.0 B 10% 5.0…
  9. 2020 Guidance – Husky Energy Inc. – slide 9
    Lower Spending, Production Growth Driving FCF Free Cash Flow Improvement Bridge (20-21) Upstream Operating Costs (Cdn/bbl) B 16 14 12 10 2019F 2020F 2021F Earnings Break-Even Price (US/bbl WTI) 45 40 35 30…
  10. 2020 Guidance – Husky Energy Inc. – slide 10
    2020 Capital Spending Capital Plan Leading to Improved Margins and Free Cash Flow Growth Less spending in Western Canada Capital Spending 3.2 3.4B resource plays and conventional heavy oil projects compared to 2019 Investor…
  11. 2020 Guidance – Husky Energy Inc. – slide 11
    Balance Sheet Strength & 2020 Funding Plan Capex Program & Dividend Fully Funded at 55 US WTI + 18 NYMEX 3:2:1 Strong and competitive balance sheet More than 500 million in flexibility1 Not including potential retail sale proceeds Q3…
  12. 2020 Guidance – Husky Energy Inc. – slide 12
    2020 Production & Throughput Low Cost Producer of Refined Products; High-Netback Offshore Production Growing higher margin thermal and Downstream Capacity Asia Pacific production 400 boe/day Product Superior Lower contribution…
  13. 2020 Guidance – Husky Energy Inc. – slide 13
    2020 Project Delivery Well Advanced & On Track Upcoming Milestones Capacity Timing/ 2020 (Husky W.I.) Completion Current Status Lloyd Upgrader diesel capacity increase 6,000 9,800 bbls/day Q2 50% complete Spruce Lake Central…
  14. 2020 Guidance – Husky Energy Inc. – slide 14
    Technology & Innovation Improving Safety, Reliability, Cost Efficiency & Reducing Our Environmental Footprint AI, Analytics & Machine Learning Reducing Our Footprint, Finding Efficiencies Innovative Partnerships AI pilot program…
  15. 2020 Guidance – Husky Energy Inc. – slide 15
    Huskys Value Proposition Improving Safety, Reliability Strengthening Resilience, Increasing Total & ESG Performance Preserving Upside Shareholder Returns Actions underway to be Integrated Corridor largely Strong free cash flow…
  16. 2020 Guidance – Husky Energy Inc. – slide 16
    Q&A 16
  17. 2020 Guidance – Husky Energy Inc. – slide 17
    Appendix 17
  18. 2020 Guidance – Husky Energy Inc. – slide 18
    Capital & Production Guidance Capital Guidance ( millions)1 Production and Throughput Guidance Total Capital Investment 3,200 - 3,400 Total Upstream Production2 (mboe/day) 295 - 310 Integrated Corridor 1,750 - 1,900 Thermal and Oil…
  19. 2020 Guidance – Husky Energy Inc. – slide 19
    Planning Assumptions Pricing Assumptions (2020-2021) Cash Flow Sensitivity3 (MM) Brent crude oil (US/bbl) 60 WTI at Cushing (US/bbl) 55 Chicago 3:2:1 Crack Spread Heavy crude differential (US/bbl) (20) (1.00/bbl US) NYMEX 3:2:1…
  20. 2020 Guidance – Husky Energy Inc. – slide 20
    Turnaround Schedule Quarterly Production Turnaround Schedule Estimated Duration Impact (boe/day) Q1 BD Gas Project 2 weeks 1,400 Q2 8 Thermal projects 1-2 weeks 5,000 Sunrise 4 weeks (partial) 7,000 Western Canada gas (Ansell…
  21. 2020 Guidance – Husky Energy Inc. – slide 21
    Slide Notes & Advisories 21
  22. 2020 Guidance – Husky Energy Inc. – slide 22
    Investor Relations Contacts Dan Cuthbertson Director, Investor Relations dan.cuthbertsonhuskyenergy.com Senior Manager, Investor Relations Leo Villegas leonidas.villegashuskyenergy.com Investor Relations Specialist Jenna…

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