CREATING SUSTAINABLE December 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 by…
2020 Outlook Capital budget of 250 million prioritizes financial strength and maximizing free cash flow, fully funded from a portion of expected adjusted funds flow Production guidance of 94,000 2020 Capital Budget 250MM 97,000 bbls/d…
Assets to Access High Value Markets Strategic marketing assets de-risk the business and enhance net realized bitumenprice 1.4 mmbbl Western Canadian Storage Manages Enbridge apportionment Future 20,000 bbl/d Edmonton Bruderheim on…
Heavy Oil Price Outlook Expectation that potential impact of IMO 2020 in North America moderated by significant heavy crude shortage in PADD III due to Venezuelan sanctions and Canadian curtailment USGC Heavy Crude Imports(1)…
2018 ESG Highlights Canadian energy producers are among the most responsible in the world; MEG is a leader in environmental performance within the sector 7
Environmental Leader 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 0.10 68% decrease since 2013 45 -…
APPENDIX 9
Blend Sales by Market Actual YTD 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)(3) WTI 57.06 57.06 57.06 57.06 57.06 75.84…
Commodity Price Hedging Strategy focused on protecting capital program while providing flexibility to fund debt reductionand/or growth; targets locking in a realized bitumen price to reduce cash flowvolatility As of October 30th, 2019…
Material Unrecognized Value from Tax Pools 5.7 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…
Inventory of Highly Economic Growth Optional growth projects identified to support buildout to 210,000 bbl/d at Christina Lake are execution ready debt repayment takes precedent 210,000+ bbl/d +52,000+ bbl/d 100,000 bbl/d +30,000…
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