2021 INVESTMENT HIGHLIGHTS MEG has taken definitive action to enhance its strong liquidity and protect its attractive asset base in the face of COVID induced market conditions 2020: Demonstrated Resilience 2021: Long-term Sustainable…
ABOUT MEG MEG is an energy company focused on sustainable in situ thermal oil production in the southern Athabasca region of Alberta, Canada. MEG transports and sells its thermal oil production to refiners throughout North America and…
2021 OUTLOOK Internally funded capital plan that supports 2021 production and sustainability in 2022+ Annual production guidance of 86,000 2 0 2 1 C AP I TAL B U D G E T 2 6 0 M M 90,000 bbls/d - No major turnaround planned during…
S U S TA I N A B L E A S S E T W I T H L O W C A P I TA L REQUIREMENTS High quality, 10-15% decline rate allows for low sustaining capital, enhancing the sustainability of the business and financial flexibility I N S I T U AS S E T S…
COMMODITY MARKET OUTLOOK Outlook for greater heavy oil price stability and continued strong demand pull for heavy oil STRIP PRICE DIFFERENTIALS (US/bbl) Addition of complex and integrated global refining 2021 Edmonton WTI:WCS Strip…
A S S E T S T O A C C E S S H I G H VA L U E M A R K E T S Final stage of Line 3 expansion construction is underway, increasing heavy oil egress by 370,000 bbls/d in H2 2021; Marketing assets position MEG to capitalize on egress 1.4…
FUNDING WITHIN CASH FLOW At current strip price, capital budget is fully funded from internally generated adjusted funds flow 1 WTI EXPOSURE HEDGED Fixed Price 60% 2 Capital 46.00/bbl funded from cash at prices above (US/bbl)…
3 Y E A R R U N WAY W I T H N O FINANCIAL COVENANTS C AP I TAL M AR K E T S M AT U R I T Y S T R U C T U R E Capital Markets Debt Maturities Significant access to liquidity provided by US in Millions undrawn C800 mm modified…
C A N A D A S E S G R A N K I N G Canadian oil companies earn a stronger ESG score than almost all other oil-rich countries, due to stringent environmental regulation, strong governance norms and commitment to safety and community TOP…
ESG PRIORITIES MEGs reserve life drives our commitment to invest in economically viable solutions to improve sustainability and environmental performance and to foster strong partnership with local communities H E ALT H & S AF E T Y…
GHG PERFORMANCE LEADER IN LOWERING GHG INTENSITY ESTIMATED UPSTREAM CARBON INTENSITY Primrose/WL kgCO2e/bbl California Thermal Indonesia Duri ATH Hangingstone Suncor Base Plant 160 Technological innovation, such as…
I N S I T U O P E R AT I O N S I N C O N T E X T Comprehensive environmental management compares favourably to North American production Water Methane Land Non-Saline1 Water Use Intensity by MEGs methane emissions intensity is…
T O P T I E R O P E R AT O R I N T H E S E C T O R MEGs Christina Lake project has leading steam oil ratio (SOR) and operating costs, highlighting asset quality, advantaged economics and efficiency as an operator Av e r a g e 2 0 2 0…
v COVID-19 RESPONSE Proactive plans to manage risks presented by global pandemic The Corporations business activities have been declared an essential service by the Alberta Government and the Corporation remains committed to the health…
APPENDIX 16
S U B S TA N T I A L VA L U E F R O M COMMODITY HEDGING 2021 capital program funded from cash flow where WCS US30 / bbl As of December 7 th , 2020 4Q 2020 1Q 2021 2Q 2021 3Q 2021 4Q 2021 WTI Hedges WTI Fixed Price Hedges Volume…
BLEND SALES BY MARKET In 2020, MEG has substantially reduced its exposure to volatile Alberta differential market Q3 2020 RESULTS Edmonton (US/bbl) U.S. Gulf Coast (US/bbl) TOTAL TOTAL (US/bbl) (C/bbl)4 US/bbl, except as indicated…
M AT E R I A L U N R E C O G N I Z E D VA L U E F R O M TA X P O O L S 5.7 billion of tax pools immediately deductible COMPOSITION OF TAX POOLS (C BILLION) AMOUNT OF ILLUSTRATIVE VALUE OF POOLS UTILIZED TAX POOLS AT 8.0%…
DISCLAIMER This presentation is not, and under no circumstances is to be construed to be a prospectus, offering memorandum, advertisement or public offering of any securities of MEG Energy Corp. (MEG). Neither the United States Securities…
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 20 of the Q3 2020 Financial Statements. These terms may not be comparable…
I N V E S T O R R E L AT I O N S I N V E S TO R R E L AT I O N S T: 5 8 7 . 2 9 3 . 6 0 4 5 E : I N V E S T M E G E N E R G Y. C O M M E D I A R E L AT I O N S T: 5 8 7 . 2 3 3 . 8 3 5 3 E : M E D I A M E G E N E R G Y. C O M W…
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