Todays Key Takeaways Todays Key Takeaways Demonstrate our Successful Strategy 2nd raise in 6 months & untouched during 2020 downturn 43% Dividend Increase 0.80 new annualized Div/Share Underpinned by 35/bbl breakeven including…
Banner 2021 Sets up an Outstanding 2022 Cash Return Framework In Action Today on Cash Return Framework Returned 150 MM in 4Q21 Substantial Free Cash Flow Delivered 1.7B Free Cash Flow Generated 1.4B of net earnings, achieved S&P…
2022 Builds off 2021 Successes Dividend Increase Industry leading Capital Efficiency 22 Capex ( MM) / 22 MBOE/d (20:1) 3 22 Capex ( MM) / 22 Oil & Condensate Mbbls/d3 400 MM/yr Incremental FCF Generated +43% 2nd raise in 6 mos…
Industry Leading Well Performance Permian STACK Montney 2 Midland Basin Performance1 1 Anadarko Basin Performance1 The top 10 Montney IP max rates of 2021 were all from OVV as were 19 of the top 202 -Canadian Discovery 18 18 +10%…
Offsetting 22 Inflation Across the Business OCTG Pressure Pumping Wet Local Sand Mitigating Inflation Through Mitigating Inflation Through Mitigating Inflation Through Design Completion Innovation Strategic Procurement Drilling &…
Continuing to Expand Premium Resource Life 80 Premium 500 Net organic locations under 269% Reserve Replacement Ratio Locations Acquired in 211 appraisal (Ex. A&D) 11 MM Spent on Acquisitions Appraisals Built in Budget Extended…
Track Record of Environmental Leadership Leading LDAR Program Beat Methane Target 50% Intensity Reduction in 211 Venting & Flaring…
Delivering on our Strategy Industry-Leading Capital Efficiency 1 vs. Peers in 2022 Consensus Capital Efficiency Returns Based Strategy Substantial Cash Returns Delivering Value to our Increasing base dividend by 43% Shareholders…
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Appendix
Delivering Across the Board in 2022 2022 Capital Program 2022 Guidance Details 1Q22 FY22 Bakken Oil & Condensate Rigs: 2 174178 180190 Capital: 175-225 MM (Mbbls/d) Net TILs: 25-30 Montney NGLs C2 C4 Rigs: 2 7781 7882 (Mbbls/d)…
2022 Financial & Operational Detail Corporate Items Total Costs ( / BOE) Qtrly Run Rate 14.75 - 15.25 Market Optimization (Cash Flow) 30 - 35 MM (at 85/4.50) Corporate G&A (Excluding LTI) 64 - 68 MM Upstream T&P Less Sublease…
Liquids-Focused, Multi-Basin Proved Reserves YE21 Proved Reserves by Asset 269% 11.5 Reserve Replacement Ratio Total Proved Anadarko (ex A&D) Reserve Life Index (Years) Permian 90% Montney Core 3 Base Assets 1 SEC Proved…
Return Framework Focused on Value Creation Free Cash Flow After Base Dividend Net Debt Until 3.0B After 3.0B Incremental Shareholder Returns in action TODAY Shareholder Returns 25% 50% At least Share Buybacks Variable…
Continued Delivery on Cash Return Framework Cash Return Framework ( MM) 4Q21 Results 741 Cash Flow In action TODAY (421) Capex 320 (36) Free Cash Flow Base Dividend 310 MM Shareholder Returns Since Framework Announced1 (Sep 9,…
Cost Savings Momentum Continues Declining Legacy Costs boost cash flows Legacy Cost Profile Accelerates Debt Reduction No execution risk, only subject to time Declining Legacy Costs ( MM) Panuke Lease 600 MM of cumulative savings in…
Track Record of ESG Leadership Environmental Social 50% Eighth Consecutive safest year ever Methane Intensity Reduction from 19 to 211 Beat 33% reduction target four years early LINK Network 50% Leveraging Inclusion Networking and…
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