Corporate Priorities Building on 2019 Success 2020 Priorities Focus on Debt reduction free cash flow and financial generation liquidity Free cash flow generation WTI 70% Existing production capacity, Free cash flow will continue hedged…
2020 Outlook Capital budget of 200 million funded from expected adjusted funds flow prioritizes financial strength Production guidance of 93,000 2020 Capital Budget 200 MM 95,000 bbls/d includes impact of turnaround Sustaining and…
Commodity Price Hedging Strategy focused on protecting capital program while providing flexibility to fund debt reduction; 70% of H1 WTI exposure is hedged with 55% hedged in 2020 on average Q1 Q2 Q3 Q4 As of March 3 rd , 2020 2020…
Low Breakeven Price in Sustainable Asset High quality, 10-15% decline rate allows for low sustaining capital, enhancing the sustainability of the business and financial flexibility In situ assets have low decline profile (10 15%…
Significant Ability to Weather Low Oil Prices Robust cash flow across range of commodity prices with long-run full-cycle breakeven…
4 Year Runway with No Financial Covenants Substantial runway to continue prioritized debt reduction Capital Markets Maturity Structure US in Millions Derisked balance sheet supported by financial Unsecured note flexibility…
Assets to Access High Value Markets Strategic marketing assets de-risk the business and enhance net realized bitumen price 1.4 mmbbl Western Canadian Storage Manages Enbridge apportionment Future 20,000 bbl/d Edmonton Bruderheim on…
Blend Sales by Market Anticipate growing deliveries to USGC from 1/3 to 50% in H2 2020 Actual 2019 Results Edmonton (US/bbl) U.S. Gulf Coast (US/bbl) TOTAL TOTAL US/bbl, except as indicated Pipeline FOB Rail Pipeline Delivered Rail…
ESG Highlights MEGs focus on ESG supported via executive committee integrated into all aspects of the business Data in ESG report based on 2018 results, additional information can be found at…
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 12
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 bbls/d at Christina Lake are execution ready debt repayment takes precedence 210,000+ bbls/d +52,000+ bbls/d 100,000 bbls/d…
Disclosure Advisories Pricing Assumptions(1) The following table shows the key assumptions used in the cash flow and free cash flow estimates included in this presentation: 2019A 2020F 2021F WTI US/bbl 57.03 49.00 50.00 WTI:WCS…
Disclosure Advisories Non-GAAP Measures This presentation refers to the non-GAAP measure of free cash flow, as well as adjusted funds flow which is defined in Note 26 of the annual 2019 Financial Statements. These terms may not be…
Investor Relations Investor Relations T 403.767.6206 E investmegenergy.com Media Relations T 403.767.1485 E mediamegenergy.com
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