Highest Cash Flow & FCF in Over a Decade Increasing 400 MM of shareholder returns in 3Q221 Shareholder Returns Cash Return Yield doubled to 13% in 3Q221 Returning 50% of Post-Base Dividend FCF Today 1,224 MM Cash Flow & 713 MM Free…
Accelerating Cash Returns 3Q22 Returns Have Doubled and Poised to Double Again Quarterly Additional Shareholder Returns (Buyback or Var. Div.) MM 27% Quarterly Base Dividend (MM) Cash Return Yield1 Reduced Hedge Tailwind…
Balance Sheet Supports Higher Returns Proactive Absolute Debt Management Continued Net Debt Reduction (B) Completed 1B redemption of 24 notes in June (55 MM annualized interest savings) 7.3 60 MM in opportunistic open market…
Higher Returns Through Capital Efficiency 22 Capex (MM) / Total Production (Mboe/d)1 12 Efficiency edge regardless of 10 calculation method: Oil & Condensate / 20:1 ratio / 6:1 ratio1 8 6 400 MM/yr more FCF than our peers…
Leading Innovator on Key Drivers of ROIC 1st Innovations stack together to deliver differentiated performance Drilling & Completion Execution Simul-Frac Wet Sand Drilling Speed Supply Chain Sophistication De-risked Procurement…
Innovation Setting the Pace Completion Speed (ft/day) Permian Top tier completions efficiencies Record completion performance: 5,462 ft/day +20% 2Q22 Performance 2,826 3,379 5,462 Innovating to solve supply chain challenges…
Incremental Market Access for OVV Montney Acquired Incremental Transport to Chicago 2023 - 2025 Montney Price Management1 Direct flow, Montney plant outlets to Chicago on Alliance 80 - 85% 10-year term beginning Nov 1, 2022 245…
Highlighting Our World Class Montney In response to direct feedback from investors that they want to know more about our Montney Asset 2B Upstream Operating Free Cash Flow1 SEPT MARK YOUR CALENDAR 19 Strong Returns across Multiple…
Delivering on our Strategy Industry-Leading Value Proposition Superior ROIC and return of cash to our shareholders Returns Based Strategy Inflection to Higher Cash Returns Today 400 MM of shareholder returns in 3Q221 Delivering…
Track Record of Environmental Leadership 50% Scope 1&2 Achieved 24% Reduction Through 21; Gross Annual Reduction of 2 MM Metric Tons of CO e GHG Intensity 2 Reduction Target Intensity Reduction1 (from 19 30) Tied to…
Return Framework Focused on Value Creation Free Cash Flow After Base Dividend Previous Started July 1 Incremental Shareholder Returns in action TODAY Shareholder Returns 25% 50% At least Share Buybacks Variable Dividend Based…
Continued Delivery on Cash Return Framework Cash Return Framework ( MM) 2Q22 Results 1,224 Cash Flow In action TODAY1 (Returns Since Framework Announced) (511) Capex 713 (64) Free Cash Flow 2Q22 Base Dividend 900 MM Base…
Successfully Maximizing Gas Realizations Permian Natural Gas Landscape Montney Natural Gas Landscape Permian Firm Transport (FT)1 Montney Firm Transport (FT)1 Bal 22 2023 2024 Bal 22 2023 2024 More Capacity USGC 147 109 109 Dawn 330…
High Quality Balanced Multi-Basin Portfolio Deep Premium Inventory1 10 Years Oil & Condensate 20 Years Natural Gas 2Q22 Opportunities across the portfolio Production Montney 198 MBOE/d Premium Portfolio Each asset generates…
2Q22 Net Debt Bridge Million 4,504 34 3,894 199 3 (713) (133) 1Q22 FCF Working Capital Shareholder A&D Other 2Q22 Net Debt Change Returns Net Debt Non-GAAP measures defined in advisories. For additional information…
Cost Savings Momentum Continues Declining Legacy Costs boost cash flow 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 22…
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