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May 2020 Investor Presentation – Suncoke Energy Inc.

Suncoke Energy Inc. · May 5, 2020 · 47 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. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 1
    SUNCOR ENERGY Investor Information SUPPLEMENTAL Published May 5, 2020 SUNCOR ENERGY
  2. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 2
    Table of Contents 1. Energy Sources 2. Processing, Infrastructure & Logistics 3. Consumer Channels 4. Sustainability 5. Technology Development 6. Integrated Model Calculation 7. Glossary SUNCOR ENERGY 2
  3. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 3
    SUNCOR ENERGY Appendix Energy Sources 3 202003-038
  4. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 4
    Oil Sands Energy Sources *All values net to Suncor In Situ Mining Firebag Base Plant 203,000 bpd capacity 350,000 bpd capacity Suncor WI 100% Suncor WI 100% 2,603 mmbbls 2P reserves1 1,350 mmbbls 2P reserves1 Note: Millennium…
  5. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 5
    Regional synergy opportunities1 for existing assets Crude logistics Upgrader feedstock optionality from multiple oil sands assets Crude feedstock optionality for Edmonton refinery Supply chain Sparing, warehousing & supply chain…
  6. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 6
    Long life, low decline reserves base Typical attributes1 of North American oil plays Initial Decline Sustaining Operating Reservoir Recovery Illustrative annual FFO2 profiles3 capital rate costs cost risk factor Mining High Very…
  7. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 7
    Offshore with 370 million barrels of 2P reserves1 East Coast Canada North Sea Hibernia ExxonMobil operated Buzzard (UK) Suncor working interest 20% CNOOC Petroleum Europe Limited operated 61 mmboe 2P reserves1 (Suncor WI) Suncor…
  8. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 8
    E&P Investing in high value, low risk projects Recent performance Sanctioned projects1 mboe/d Fenja (Norway) 120 17.5% working interest 100 6 mbbls/d anticipated net peak production Hebron 80 White Rose Buzzard Phase 2 (UK)…
  9. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 9
    Power Generation Generating power for internal use, distribution to the EV network & sale to the grid; currently 5th largest power producer in Alberta. 2,400 MW 1,400 MW CURRENT CURRENT + SANCTIONED PROJECTS1 Cogen: 96%;…
  10. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 10
    SUNCOR ENERGY Appendix Processing, Infrastructure & Logistics 10 202003-038
  11. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 11
    Operations & Consumer Network 29 year Oil Sands Reserve Life Index1 25 mmbbl storage Western Canada 1,850 PetroCanada sites2 15 mmbbl storage Eastern Canada Only refinery in Colorado 10 mmbbl storage Central US…
  12. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 12
    Upgrading Upgrading processes heavy bitumen into a lighter, higher value product with a density Upgrading Process similar to that of WTI. LOW Once upgraded, the product can flow on a VALUE Mined & In-Situ Bitumen HEAVY pipeline without…
  13. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 13
    Suncors proven oil sands reliability journey Suncor Base Plant upgrader reliability Multi-year journey to reach 90% reliability 91% 1 91% 2 90% 90% 90% 83% 81% 79% Suncor began focusing on upgrader reliability initiatives in 2011…
  14. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 14
    Market Access Suncor has made strategic investments in refineries and current/proposed logistics infrastructure to mitigate Alberta egress limitations & market disconnects Fort McMurray 750 Alberta egress bottleneck does not impact…
  15. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 15
    SUNCOR ENERGY Appendix Consumer Channels 15 202003-038
  16. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 16
    Refined Product Markets 540 mbpd Product sales in 20191 Edmonton refinery services region from BC to Ontario 20% Montreal and Sarnia have a local market Canadian reach over 22mm Export consumer fuel capability people5…
  17. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 17
    Refinery Feedstock & Products1 2019 refinery feedstock 2019 refined products (40% equity feedstock & 100% inland crude) 8% 8% 1% 8% 7% 6% 5% 6% 11% 12% 8% 9% 17% 5% 30% 34% 51% 52% 68% 39% 34% 42% 71% 37% 25% 28%…
  18. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 18
    Refinery Characteristics Throughput Nelson %OS Crude Refinery Capacity 1 Complexity Processing Key Markets Feedstock Advantages Product Advantages (mbpd) Index Rating Ability Western Directly connected to oil sands production;…
  19. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 19
    Refining & Marketing R&M funds from operations1 Refinery utilization vs. US average Capturing the value at all differentials Percent of refining capacity FFO (C billions) WTI WCS (US/bbl) Suncor US Average2 5 25.50 26.30…
  20. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 20
    Suncor 5-2-2-1 Index To help investors and analysts Suncors Refining and Marketing (R&M) business we have designed an indicative 5-2-2-1 gross margin based on publicly available pricing data. This is a single value that incorporates…
  21. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 21
    R&M gross margin calculation example Q1 2019 FIFO1 impact calculation example Q1 2019 Q4 2018 Q1 2019 Dec-18 49.00 70% 34.30 Dec-19 58.15 70% 40.71 WTI (US/bbl) 60% 30.79 60% 34.32 Nov-18 56.70 30% 17.01 Nov-19 55.00 30% 16.50…
  22. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 22
    First-in, first-out (FIFO) inventory gains and losses Crude & products inventory & timing The amount of time between purchase of feedstock to sale of refined product has direct correlation to FIFO impact Edmonton Commerce City…
  23. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 23
    SUNCOR ENERGY Appendix Sustainability 23 202003-038
  24. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 24
    Tailings Management Tailings Composition With the growth of Oil Sands Base operations, the volume of fluid tailings has increased over time fines/clay 3% Previous fluid tailings treatment methods kept volumes stable & water allowed…
  25. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 25
    Water Stewardship Our water use is guided by three principles Conservation Reuse & recycle Return of clean water to watershed Corporate fresh water consumption intensity (m3/m3 production)2 0.86 0.82 1 0.74 0.68 Fort Hills…
  26. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 26
    Personal & Process Safety Positive movements in safety performance Recordable Injury Frequency (RIF1) Lost Time Injury Frequency (LTIF2) Injuries per 200,000 hours worked Injuries per 200,000 hours worked 0.6 0.06 0.4 0.04 0.2…
  27. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 27
    Indigenous & Community Relationships We aim to increase Indigenous participation in energy development Partner with businesses Improve workforce development Partner with youth Spent with indigenous 3.1B businesses since 2015 3.1…
  28. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 28
    SUNCOR ENERGY Appendix Technology Development 28 202003-038
  29. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 29
    Technology Investment History Over 2 billion in cumulative technology investment in last 5 years1 (Cmillions) 2,500 2,165 2,000 830M spent on technology development & deployment in 2019 1,500 1,335 1,000 700 500…
  30. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 30
    New Technologies Realize Multiple Benefits1 Examples of potential current technologies to meet multiple objectives across our business Lower Lower Reduce water, tailings costs GHGs & land footprint Next Generation SAGD2 Thermal…
  31. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 31
    Leading Deployment of Mining Technologies Fort Hills - Higher quality, fungible product Autonomous Haul Systems (AHS) Paraffinic Froth Treatment in secondary extraction Greater reliability, efficiency & productivity Bitumen froth mixed…
  32. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 32
    New Cogeneration Facility Sanctioning1 Heat required for mining operations Economically Robust HIGH % TEEN IRR2 independent of oil price & pipeline egress Natural gas INPUTS Water 1.4B Capital investment over 4 years…
  33. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 33
    SUNCOR ENERGY Appendix Model Integrated Calculation 33 202003-038
  34. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 34
    Integrated Model 2018 / 2019 AVERAGES OF PRODUCTS SOLD TO MARKET REFINED PRODUCTS 50% FFO1 470 kbpd2 SYNTHETIC CRUDE OIL OFFSHORE 25% FFO1 GASOLINE (43%) BITUMEN 309 kbpd2 DISTILLATES (42%) 15% FFO1 10% FFO1 ASPHALT (6%)…
  35. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 35
    Converting 500 Asset Value Maximization hydrocarbons into consumer products 150.00 2018 / 2019 AVERAGES1 (CAD) (Refer to pages 36 39 for full reconciliation) 470 Product Value Transportation Cost kbpd2 Product Margin Processing…
  36. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 36
    Corporate Summary Calculation1 2018 / 2019 Average Funds from Operations (FFO)2 Breakdown (CAD) Volume Margin FFO to Market (/bbl) (M) (kbpd) Offshore E&P 104.4 68 2,581 Bitumen 163.1 20 1,190 SCO 308.7 34 3,870 Refined…
  37. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 37
    Integrated Model Volumes Calculation1 VOLUMES (Sales) (mbbls/d) FY2019 FY2018 AVG CALCULATION SOURCE a E&P 106.0 102.8 104.4 = Total Sales Volumes Q4 2019 Report P64 Bitumen b OSO 101.4 134.0 117.7 = Sales: Non Upgraded Bitumen Q4…
  38. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 38
    Integrated Model Margin Calculation1 MARGIN / BBL (CAD) FY2019 FY2018 AVG CALCULATION SOURCE E&P (Brent pricing) n Average price realized 85.54 89.59 87.53 = Weighted avg realized price of all E&P o Royalties (7.64) (6.94) (8.29) =…
  39. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 39
    Integrated Model Funds from Operations Calculation1,2 Funds flow from operations model FY2019 FY2018 AVG CALCULATION SOURCE aq E&P (Brent pricing) sales 2,538 2,624 2,581 = Volume sold (j) x margin (r ) x 0.365 ar Bitumen (majority USGC…
  40. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 40
    SUNCOR ENERGY Appendix Glossary 40 202003-038
  41. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 41
    Glossary Alkylate (Alkylation): A refining operation that takes low value derivatives from the catalytic cracking and other processes and unites them in the presence of an acid catalyst to produce a very high octane, low vapor pressure…
  42. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 42
    Glossary (continued) Crude Distillation: An oil refinery unit that separates crude oil into different products according to their individual boiling point ranges. Distillation allows for the materials to be separated without being…
  43. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 43
    Glossary (continued) Reforming: An oil refining unit in which naphthas are changed chemically to increase their octane level. Paraffins convert to iso-paraffins and naphthenes, and naphthenes change to aromatics. The catalyst used is…
  44. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 44
    Advisories Forward-Looking Statements This presentation contains certain and the costs of well and pipeline construction; Suncors dependence may be considered useful information by investors. See the Non- forward-looking statements…
  45. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 45
    Slide Notes Slide 4------------------------------------------------------------- Slide 11------------------------------------------------------------- (2) Source: US Energy Information Administration (1) Reserves are working interest…
  46. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 46
    Slide Notes Slide 30------------------------------------------------------------- (4) Refers to bitumen sales volumes to market and associated costs and (1) Based on possible future opportunities, including examples shown on margin.…
  47. May 2020 Investor Presentation – Suncoke Energy Inc. – slide 47
    Investor Relations Contacts Trevor Kate Muhammad Kinga Stacey Bell Charlton Usman Uto Hunter Vice President IR Director IR Senior Analyst IR Senior ESG Analyst IR Coordinator IR tgbellsuncor.com kcharltonsuncor.com…

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