Base 3-Year Plan 3% Production Per Share Growth Disciplined Capital Program & 125,700 129,400 Targeted Acquisitions Enhance Growth 122,000 110,500 2021 2022 2023 2024 Cumulative Free Funds Flow of 1.6 B at US60/B WTI…
Worlds Largest Anthropogenic CO2 Storage Projects (MT) Anthropogenic CO2 Emissions Captured & Stored To-Date 40 35 36 30 25 MT CO2 20 19 15 10 5 7 6 5 0 Weyburn Unit Sleipner Storage Snhvit Storage Quest*…
How CO2 Capture and Sequestration Works 1. Collecting Waste Emissions 1 CO2 captured We purchase CO2 from coal plants in Saskatchewan and North Dakota. Without the Weyburn Unit, the majority of CO2 would oil to market 4 otherwise…
How CO2 Capture and Sequestration Works 3. Sustainable Oil Production 1 CO2 captured The CO2 acts likes a solvent to flush otherwise unrecoverable oil from pores in the rock. This results in incremental oil production oil to market…
2021 ESG Report Highlights Emission Reductions Drive Net GHG Emissions Further Negative E: Emission Intensity Reduction Target Increased to 30% S: Best Ever Total Recordable Injury Frequency of 0.26 G: Climate-Related…
Commitment to Sustainability Emission intensity reduction target increased after incorporating higher intensity acquisitions Venting Flare and Fugitive Replace Reductions Vent to Emission High Bleed in SK Sales Reductions…
CCUS Capabilities Weyburn CCUS Project SE SK Whitecap CCUS Total MT CO2 MT CO2 125 115 300 250 250 100 86 200 75 150 50 36 100 88 25 37 50 0 0 Sequestered To-Date Current Capacity Potential Capacity Sequestered To-Date…
Whitecap Competitive Advantages Top Tier Balance Sheet: Low leverage with ample liquidity. Secured covenant-based credit facility not subject to annual redeterminations. Significant free funds flow profile: Premium assets…
Our Principles Balancing return of capital with Strong credit metrics Strong Return on and ample liquidity Capital Investing Debt/EBITDA 1 1.5x Leaders in ESG performance Fully Internally Funded Sequesters 2MT CO2 annually…
Free Funds Flow Priorities Allocation of Free Funds Flow (FCF) Balance Sheet Build dry powder for increased optionality Disciplined and targeted acquisitions New Energy initiatives Current Dividend 0.195 per share or 123…
Debt Management Financial Parameters Total Credit Capacity = 2 Billion 4-year committed facility with annual 1 year extensions Average cost of debt 3.3% Bank Covenant (D/EBITDA < 4.0x) Objectives Reduce net debt to 1.2 Billion by…
Risk Management Objectives: Fully fund capital program and annual dividend payments Downside price protection with upside participation Outcome: Based on current hedges in place, Whitecap can fully fund the preliminary 2022 capital…
Disciplined Management Team Capital investment requires an acceptable Return on Capital Return of Capital is important but must be supported by funds flow Mitigate Risk through balance sheet and hedging Track record of Investing…
Track Record of Per Share Growth Funds Flow Production 1,200 12% CAGR per share 120,000 12% CAGR per share 1,000 100,000 800 80,000 Boe/d million 600 60,000 400 40,000 200 20,000 0 - 2010 2011 2012 2013 2014…
Returning Value to Shareholders 8% 0.01625 113 million 1.1 billion Total dividends paid June 2021 dividend Current Monthly Share repurchases completed (3.70/share) increase dividend (as at August 31, 2021) (as at August 31, 2021)…
Core Areas of Operations 5,927 drilling locations provides 10 years growth BRITISH COLUMBIA 2021 Avg. Locations ALBERTA (boe/d) () SASKATCHEWAN Northern AB & BC 25,000 1,226 Northern Alberta & BC Central AB 29,500 1,312…
Crude Oil Marketing Active seller and shipper on 7 oil feeder pipelines connected to Enbridge mainline 60% of production is protected from Enbridge apportionment rail and direct sales to refineries Price diversification is a…
TSX:WCP www.wcap.ca InvestorRelationswcap.ca September 1, 2021 22
Slide Notes (contd) Slide 16 1. Hedge positions current to August 31, 2021. Full hedge positions by product are: Volume Bought Put Price Sold Call Price Swap Price WTI Crude Oil Term (bbls/d) (C/bbl) (i) (C/bbl) (i) (C/bbl) (i) Collar…
Slide Notes (contd) Slide 16 1. Hedge positions current to August 31, 2021. Full hedge positions by product are: WCS(iii) Volume Swap Price Differential Term (bbls/d) (/bbl) (i) Swap 2021 Jul Sep 2,000 C17.85 Swap 2021 Jul Sep 2,500…
Advisories (contd) The assumptions used for the 2021 forecast funds flow netbacks (/boe) used on slide 3 of this presentation are as follows: 2021 Petroleum and natural gas revenues 57.01 Tariffs (0.40) Processing income 0.65…
Advisories (contd) The assumptions used for the sensitivities on slide 4 in this presentation are as follows: 2021 WTI (US/bbl) (Jul Dec) 45 60 65 70 Petroleum and natural gas revenues 49.36 54.93 57.01 58.71 Tariffs (0.40) (0.40)…
Advisories (contd) Production References to crude oil or natural gas production in the following table and elsewhere in this presentation refer to the light and medium crude oil and conventional natural gas, respectively, product types…
Advisories (contd) Initial Production Rates Any references in this presentation to initial production rates (IP(365)) are useful in confirming the presence of hydrocarbons, however, such rates are not determinative of the rates at which…
Research Coverage ATB Capital Markets National Bank Financial BMO Capital Markets Peters & Co. Canaccord Genuity Raymond James CIBC World Markets RBC Capital Markets Cormark Securities Scotiabank Global Desjardins Capital Markets…
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