Todays Key Takeaways High confidence in 20 & 21 scenarios, cash cost savings on track 4Q20 avg oil and C5+ raised to 200 Mbbls/d (previously exit rate) 20 capex of 1.8B now at low-end of previous range Tripled passive ownership…
2Q Results Enhance Next Six Quarters High Operational Confidence: 2020 Scenario Recent well cost achievements underwrite 2021 scenario Previous Current 20% gain in capital efficiency vs 2019 Oil & C5+ 200 200 (Mbbls/d) exit 4Q20 21…
EFFECTIVELY MANAGING VOLATILITY Priorities for The Next Six Quarters Maintaining Financial Strength/Reducing Debt Maintaining Scale Leading cost structure Protecting health & and capital efficiency safety of our people 4
BUILDING CONFIDENCE IN THE FUTURE Strong 2Q20 Operating Performance Solid execution in unprecedented period of macro volatility Proven world class operator rapidly reducing cost structure Capital efficiencies evident: 2Q capex at low…
Flexibility Continues in 2H20 2H20 Demonstrates Business Resiliency Workforce Balanced with Future Plans FY20 now on track for 1.8B capex Align business with activity 25% Moderate growth vs. history Low end of previous range of 1.8…
MULTI-YEAR RESILIENCY 200 MM of Cash Cost Savings in 2020 2020: 200 MM of expected cash cost savings Cash Cost Savings ( MM) Nearly half of estimated savings achieved YTD 300 300 Reduced operating and midstream costs Lower G&A,…
DRIVING CAPITAL EFFICIENCY Track Record of Efficiency Improvements Core 3 Assets demonstrating capital efficiency gains Go Forward Well Costs ( MM) 2Q20 capital costs 15% lower vs 2019 (9% in 1Q20) 1Q20 NEW On track to realize 20%…
WORLD CLASS OPERATOR Capital Efficiency More Important Than Ever Permian Drilling Total Well (ft) / day1 2,000 Continued Simul-Frac improvements leading to increased completion rates and 350k 400k savings per well Anadarko 1,500 14…
OVV: Well Positioned vs Industry Narratives Stay-flat capital efficiencies Capital efficiency through innovation 21 scenario: 200 Mbbls/d oil & C5+ for 1.4 - 1.6B Proven track record of safely reducing costs Optionality through…
Defining the Successful E&P of the Future Quality Multi-Basin Portfolio Financial Strength and Risk Management Industry Leading Efficiency Driven by Innovation Size & Scale as One of The Largest Oil & Condensate Producers…
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Appendix
OVINTIV EDGE OVVs Culture Drives our Success We are ONE Sense of team; we all win when the organization wins; OVV first Transparency and information sharing across the organization One performance scorecard for entire Company aligns…
Pricing and Hedge Sensitivity Update Hedge Sensitivities Gain / (Loss) ( MM)1 Extreme 2Q price volatility protected by hedges WTI Price /bbl 3Q20 4Q20 Bal 20 10 565 477 1,042 Realized price per BOE (including hedge): 21.21/BOE 20 404…
Industry Leading ESG Performance 6th Consecutive Safest Year Ever Proven Safety Results Environmental Performance 1 TRIF Methane Intensity 2018 Water Use 0.44 0.43 45% 0.34 0.30 0.30 0.28 0.22 0.21 1 Fresh Alternative 2014…
Proactive ESG Approach Task Force on Climate-Related Financial Disclosures ESG Impact Matrix Climate-related risks have the potential to impact our business Governance framework allows us to effectively manage these risks Applicable…
Notes Slide 6 1) Total liquidity includes 183 MM of available capacity on uncommitted demand lines Slide 9 1) DC&E includes: drill, complete, facilities and on lease tie in costs. STACK and Permian well lengths normalized to 10,000 ft.…
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