CORPORATE SNAPSHOT TSX: TOG Market Summary Basic Shares Outstanding 221mm 2019/20e Production Average Daily Volume1 1.2mm shares Average: 28,300 boe/d Market Cap / Enterprise Exit: 28,300 boe/d 0.9bln / 1.3bln (88% liquids)…
Proven Strategy Per share growth Competitive advantage through organic Capital efficiencies development & Cash costs strategic acquisitions Operational Integrated Expertise Approach Financial Sustainability Flexibility…
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 2,000m Oil Quality 30-40 API Well Spacing 75 150m inter-well Undrilled Locations2 400 net Booked Locations…
SE Saskatchewan Conventional SE Saskatchewan - Conventional Conventional Mississippian: Stacked, discrete flow units, Frobisher: Open hole. excellent rock properties. Single and dual leg wells - mile hz. Trap: Subcrop, shoals…
SE Saskatchewan Conventional Cash Flow Engine 200 Conventional 50 mbbl Curve Economic Parameters1 180 Average DCE&T 1.0mm 160 IP 365 46 bopd 51 boepd Production Rate, 30 Day Avg (BOPD) 140 Reserves 50 mbbls 55 mboe 120…
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, juxtaposed against 30 stage liner, 40 tonnes/stage, fracd with Bakken oil generation window. slickwater 1 mile…
Torquay / Three Forks Light Oil Resource Play 250 Economic Parameters1 Torquay 150 mbbl Curve DCE&T 2.9mm Average - All Wells 200 IP 365 97 bopd Production Rate, 30 Day Avg (BOPD) Reserves 150 mbbls 150 Production Adds…
Torquay / Three Forks Depth and Quality of Inventory Torquay/Three Forks Wells Drilled vs Inventory 160 Initial footprint was established through 140 2013 strategic acquisition 120 100 TORC exploration program along with Well…
SE Saskatchewan Fracd Midale Medium Light Oil Resource Play Unconventional Pools Large Oil-in-Place1 5.5 to 9.0 mmbbls/sec. Depth 1,400 1,600m Oil Quality 26-38 API Well Spacing 5 wells/section Undrilled Locations2 175 net…
SE Saskatchewan Fracd Midale SE Saskatchewan - Fracd Midale Unconventional Midale: Low permeability, large OIP, low Midale: 30 stage liner, 5 tonnes/stage, recovery factor, layered and water flood upside. fracd with water at low…
SE Saskatchewan Fracd Midale Light Oil Resource Play 250 Economic Parameters1 Midale 85 mbbl Average DCE&T 1.8mm 200 IP 365 84 bopd 106 boepd Production Rate, 30 Day Avg (BOPD) Reserves 85 mbbls 120 mboe 150 Production…
SE Saskatchewan Fracd Midale Depth and Quality of Inventory Frac'd Midale Wells Drilled vs Inventory 180 Established primarily through acquisitions in 2015 and 2016 160 140 TORC exploration program along with 120 industry…
Cardium Trend Development Drilling Large Oil-in-Place1 5 mmbbls / section Land 100 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 Average DCE&T 2.8mm 300 IP 365 85 bopd 135 boepd Production Rate, 30 Day Avg (BOEPD) 250 Reserves 156 mbbls 250 mboe Production Adds 20,740 per…
Cardium Trend Depth and Quality of Inventory Cardium Wells Drilled vs Inventory 300 Maintaining inventory through 250 tuck-in acquisitions replacing 200 annual drill program Well Count 150 Sustainability and…
SUSTAINABILITY ANALYSIS Sustainability Highlights Production Run Rate Production boepd 28,300 Decline Rate % 23.0% Run rate production of 28,300 Annual Production Decline boepd 6,509 boe/d (88% oil & NGLs) Dividend Payout o…
Sustainability Analysis Commodity Sensitivity Base Production 28,300 boe/d WTI (USD) 50.00 55.00 60.00 65.00 70.00 FX (US/C) 0.75 0.75 0.75 0.75 0.75 WTI (C/bbl) 66.67 73.33 80.00 86.67 93.33 Edm Lt vs C WTI Differential (/bbl) *…
Dividend + Disciplined Growth Checklist Sustainability of the business model driven by: Decline rate 23% Operating netback1 34 Capital efficiency (all-in IP365) 29,000 per boe/d (2020 budget) Strong balance sheet 370mm net…
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 TorontoDominion Bank Jason Zabinsky Canadian Imperial Bank of Commerce Canaccord…
2020 Capital Program 190mm Capital Spending Investing in higher rate of return, lowerrisk light oil opportunities Strategically investing in infrastructure projects that achieve both economic returns and environmental benefits…
Wells Drilled Corporately Depth and Quality of Inventory Total Wells Drilled Depth of Inventory Across All vs Inventory Core Areas 1000 25% 900 Each location thoroughly scrutinized through detailed evaluation by the technical…
Hedging Current Hedge Summary (C/Bbl) Volume (Bbl/d) Type Low High Index Mar 1, 2019 Dec 31, 2019 500 Collar 60.00 92.00 CWTI Mar 1, 2019 Dec 31, 2019 250 Collar 60.00 93.00 CWTI Apr 1, 2019 Dec 31, 2019 500 Collar 60.00 95.80 CWTI…
TORC Crude Oil Marketing Canadian Market Access TORCs production is 88% light oil and liquids High quality crude oil (average 35 API) 85% of oil production is downstream of Cromer MB Cromer volumes flow on Enbridge Line 65…
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 Ownership of…
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