2021 INVESTMENT HIGHLIGHTS MEG delivered on its strategy in a challenging 2020 environment, setting the company up for long-term sustainable value creation 2020 Accomplishments 2021 Path Forward Generated 129 mm of free Balance…
ABOUT MEG MEG is an energy company focused on sustainable in situ thermal oil production in the southern Athabasca oil region of Alberta, Canada. MEG transports and sells thermal oil (known as Access Western Blend or AWB) to customers…
ESG PRIORITIES MEG is committed to the long-term sustainable development of our resource and investment in the communities where we operate ESG objectives are a key component of corporate strategy and employee and executive…
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 all other oil-rich countries, due to stringent environmental regulation, strong governance norms and commitment to safety and community TOP OIL…
GHG PERFORMANCE LEADER IN LOWERING GHG INTENSITY ESTIMATED UPSTREAM CARBON INTENSITY (2019) Primrose/WL California Thermal kgCO2e/bbl Indonesia Duri ATH Hangingstone Suncor Base Plant 160 Technological innovation, such…
I N S I T U R E L AT I V E T O T I G H T O I L Comprehensive environmental management compares favourably to North American production Water Methane Land MEGs Non-Saline1 Water Use MEGs methane emissions intensity is Cumulative…
M E G I S T H E L E A D I N G P U R E P L AY THERMAL OIL PRODUCER Positioned to capture Low decline, long global demand for reserve life from high heavy oil quality asset base Marketing assets Funding capital within deliver…
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 A S S E T…
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…
2021 OUTLOOK Internally funded capital plan that supports 2021 production and contributes to sustainability in 2022+ 2 0 2 1 C A P I TA L B U D G E T 2 6 0 M M Annual production guidance of 86,000 - No major turnaround planned during…
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 MEGs contracted infrastructure improves bitumen realizations and manages risk; expect 900,000 bbls/d incremental egress capacity from Western Canada by the end of 2022* 1.4…
2021: IMPROVED DIFFERENTIAL OUTLOOK Constructive light / heavy differential outlook with material improvement in Western Canadian egress and continued strong demand for heavy oil globally 2021 STRIP PRICE DIFFERENTIALS (US/bbl) The…
S T R O N G D E M A N D F O R C A N A D I A N H E AV Y O I L Canadian heavy oil positioned to fill growth in complex refining capacity in particular, with increased export capacity from West Coast post TMX completion expected in late…
STRONG LIQUIDITY POSITION C A P I TA L M A R 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 covenant- 2nd lien secured…
APPENDIX 16
COMMODITY HEDGING OVERVIEW 2021 hedges protect sustaining capital program; weighted to first half 2021 given capital program weighted to first half of the year As of March 2nd, 2021 1Q 2021 2Q 2021 3Q 2021 4Q 2021 2021 WTI Hedges WTI…
BLEND SALES BY MARKET Strong demand pull to US Gulf Coast drives narrow differential and improved transportation adjusted pricing relative to Edmonton YE 2020 RESULTS Edmonton (US/bbl) U.S. Gulf Coast (US/bbl) TOTAL TOTAL (US/bbl)…
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 5.9 billion of tax pools immediately deductible COMPOSITION OF TAX POOLS (C BILLION) AMOUNT OF ILLUSTRATIVE VALUE OF POOLS UTILIZED TAX POOLS AT 8.0%…
F U N D I N G C A P I TA L W I T H I N C A S H F L O W Capital budget is fully funded from internally generated adjusted funds flow at current strip, and at WCS price of US30 / bbl 1 2021 FUNDS FLOW SENSITIVITIES 2 Sensitivity…
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…
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 26 of the FY 2020 Financial Statements. These terms may not be comparable…
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