Cenovus at a glance TSX, NYSE CVE 2020F production Telephone Lake Oil Sands 375 Mbbls/d Deep Basin 84 MBOE/d Narrows Lake Elmworth-Wapiti Christina Lake 2019 proved & probable Marten Hills 6.9 BBOE reserves Foster Creek…
Decisive actions to reduce 2020F cash outflows Actions result in nearly 1 billion of reduced cash outlay expected in 2020 230 million Nearly 1 billion 150 million Dividend suspension reduction in Decision to temporarily 2020F…
Ample liquidity to weather the current environment New credit facility of 1.1 billion added in April 2020 Total borrowing capacity of 6.2 billion: Liquidity profile 4.5 billion primary facility 0.6 billion uncommitted lines for…
Revised budget reflects capital discipline and flexibility Demonstrating capital discipline Leveraging our operational flexibility Capital expenditures reduced by 43% Total production decreased 5% due to suspension of crude by rail…
We are the leader in SAGD Largest producer Lowest SOR Most experienced Mbbls/d SOR Cumulative operating years 400 4.0 5,000 300 3.0 3,750 200 2.0 2,500 100 1.0 1,250 0 0.0 0 CVE CVE CVE Note: Source: Alberta…
Marketing flexibility supports price optimization Utilizing storage and market access to respond to market volatility 100+ Mbbls/d Dynamic storage Proven ability to adjust oil sands operations by up to 100 Mbbls/d Oil sands…
Conventional overview Reduced capital investment to support balance sheet in response to market volatility Deep Basin Low base decline allows for moderated pace of development Over 2.8 million net acres and 1.2 Bcf/d net…
Marketing assets provide diversification and flexibility Pipeline commitments, low fixed cost rail capacity and storage in multiple markets Current ex-AB pipeline commitments PADD II PADD III West Coast Express Platte Enbridge USGC…
More Canadian barrels are in the worlds best interest Opportunity for high ESG-ranked Canadian barrels to displace lower ESG-ranked barrels Aggregated ESG score for top reserve holders Bbbls 100 400 75 300 50 200 25 100…
Cenovus emissions intensity lower than the U.S. average gCO2e/MJ Scope 1 & 2 GHG intensity from upstream oil and gas production1 12 10 Surface processing 8 Production Net electricity credit/debit 6 Venting, flaring, and…
History of strong Indigenous relationships Committed to strong relationships with Indigenous communities: 9 long-term benefit agreements 2.8 billion doing business with Indigenous companies since Dec 2009 Target: spend an…
Supplemental 25 Foster Creek overview Foster Creek production history Key facts and reservoir characteristics Current productive capacity phases A-G (bbls/d) 180,000 Mbbls/d 175 Regulatory approved capacity (bbls/d)…
Christina Lake overview Christina Lake production history Key facts and reservoir characteristics Current productive capacity phases A-G (bbls/d) 260,000 Mbbls/d Phase Regulatory approved capacity (bbls/d) 310,000 250 G 225…
T100 R1W5 R20W4 R15W4 R10W4 R5W4 R1W4 T100 Birch T95 T95 Wabiskaw/ Grosmont McMurray Telephone Lake Dover Steepbank T90 T90 East McMurray Fort McMurray North BOREALIS REGION T85 & T85 South…
2020 Corporate Guidance - C, before royalties April 1, 2020 UPSTREAM OIL SANDS Production Capital expenditures Operating costs Effective royalty Steam to oil (Mbbls/d) ( millions) (/bbl) rates (%) ratio Foster Creek 145 - 170 175 -…
our operational performance and upholding our trusted reputation; projections for 2020 and future years and our plans and strategies to realize such projections; future opportunities for oil and natural gas development; forecast operating…
In addition, there are risks that the effect of actions taken by us in implementing targets and ambitions for ESG focus areas may have a negative impact on our existing business, growth plans and future results from operations.…
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