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ACQUISITION OF DEVON CANADA'S CONVENTIONAL ASSETS – Canadian Natural Resources Limited (CNRL)

Canadian Natural Resources Limited (CNRL) · Feb 19, 2014 · 16 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. ACQUISITION OF DEVON CANADA'S CONVENTIONAL ASSETS – Canadian Natural Resources Limited (CNRL) – slide 1
    PROVEN EFFECTIVE STRATEGY ACQUISITION OF DEVON CANADAS CONVENTIONAL ASSETS February 19, 2014 CNQ PREMIUM VALUE DEFINED GROWTH INDEPENDENT Slide 1
  2. ACQUISITION OF DEVON CANADA'S CONVENTIONAL ASSETS – Canadian Natural Resources Limited (CNRL) – slide 2
    Reporting Disclosures Special Note Regarding Currency, Production and Reserves In this document, all references to dollars refer to Canadian dollars unless otherwise stated. Reserves and production data are presented on a before…
  3. ACQUISITION OF DEVON CANADA'S CONVENTIONAL ASSETS – Canadian Natural Resources Limited (CNRL) – slide 3
    Summary of Transaction Canadian Natural to purchase Devon Canadas conventional assets (excluding Horn River and heavy oil) Effective date January 1, 2014 Targeted closing date April 1, 2014 Purchase Price 3,125 million Current…
  4. ACQUISITION OF DEVON CANADA'S CONVENTIONAL ASSETS – Canadian Natural Resources Limited (CNRL) – slide 4
    Free Cash Flow Uses 1. Resource development Executing our defined plan 2. Dividends 14 consecutive years of dividend increases 31% CAGR (2009 2014) Must be sustainable 3. Share purchases 11.0 million common shares purchased in 2012…
  5. ACQUISITION OF DEVON CANADA'S CONVENTIONAL ASSETS – Canadian Natural Resources Limited (CNRL) – slide 5
    2014 Targeted Free Cash Flow Uses - Update 2014 Strip Proforma ( million) 2014B 2014 Strip with Acquisition4 Targeted Cash Flow 8,7001 9,500 - 9,700 10,050 - 10,450 Capital Program 7,700 7,700 7,700 Free Cash Flow 1,000 1,800 2,000…
  6. ACQUISITION OF DEVON CANADA'S CONVENTIONAL ASSETS – Canadian Natural Resources Limited (CNRL) – slide 6
    Summary of Devon Canada Asset Acquisition Assets are a strong fit with Canadian Natural Deal metrics are attractive Adds 11% production at 6% of enterprise value Optimizing conventional assets is a Canadian Natural core strength…
  7. ACQUISITION OF DEVON CANADA'S CONVENTIONAL ASSETS – Canadian Natural Resources Limited (CNRL) – slide 7
    Devon Canada Asset Acquisition Estimated current production, before royalties 86,600 boe/d 383 mmcf/d natural gas 10,800 bbl/d light oil 12,000 bbl/d NGLs (30 bbl/mmcf) 72% of production is operated High quality land position 2.2…
  8. ACQUISITION OF DEVON CANADA'S CONVENTIONAL ASSETS – Canadian Natural Resources Limited (CNRL) – slide 8
    Core Area Summary Wapiti Estimated current production 67 mmcf/d natural gas 250 bbl/d light oil 3,800 bbl/d NGLs Own and operate 1 shallow and 1 deep cut natural gas plant Good fit with Canadian Naturals Karr/Gold Creek…
  9. ACQUISITION OF DEVON CANADA'S CONVENTIONAL ASSETS – Canadian Natural Resources Limited (CNRL) – slide 9
    Core Area Summary Elmworth Estimated current production 34 mmcf/d natural gas 250 bbl/d light oil 600 bbl/d NGLs Excellent fit with Canadian Naturals Wembley, Valhalla, Knopcik operations Halfway oil potential complementing…
  10. ACQUISITION OF DEVON CANADA'S CONVENTIONAL ASSETS – Canadian Natural Resources Limited (CNRL) – slide 10
    Core Area Summary Pinto Estimated current production 46 mmcf/d natural gas 500 bbl/d light oil 500 bbl/d NGLs Own and operate 2 natural gas plants, joint with Canadian Natural Excellent fit with Canadian Naturals Leland/Wild…
  11. ACQUISITION OF DEVON CANADA'S CONVENTIONAL ASSETS – Canadian Natural Resources Limited (CNRL) – slide 11
    Core Area Summary Narraway Estimated current production 48 mmcf/d natural gas Own and operate one sweet natural gas plant Excellent fit with Canadian Naturals Grizzly, Ojay, Sukunka operations Foothills production from faulted…
  12. ACQUISITION OF DEVON CANADA'S CONVENTIONAL ASSETS – Canadian Natural Resources Limited (CNRL) – slide 12
    Core Area Summary - Ferrier Estimated current production 47 mmcf/d natural gas 2,200 bbl/d light oil 1,800 bbl/d NGLs 100 mmcf/d deep cut facility under construction Excellent fit with CNRL operations at Minehead and Ferrier…
  13. ACQUISITION OF DEVON CANADA'S CONVENTIONAL ASSETS – Canadian Natural Resources Limited (CNRL) – slide 13
    Core Area Summary NE BC Estimated current production 50 mmcf/d natural gas 1,400 bbl/d light oil 1,500 bbl/d NGLs Own and operate Eagle oil battery Excellent fit with Canadian Naturals operations at Helmet, Chinchaga and Stoddart…
  14. ACQUISITION OF DEVON CANADA'S CONVENTIONAL ASSETS – Canadian Natural Resources Limited (CNRL) – slide 14
    Core Area Summary Royalty Lands Increasing cash flow: 2012 - 43 million 2013 - 63 million 2014 estimate - 75 million 2.7 million acres of fee simple and royalty acreage 1.4 million acres fee simple Significant Viking oil…
  15. ACQUISITION OF DEVON CANADA'S CONVENTIONAL ASSETS – Canadian Natural Resources Limited (CNRL) – slide 15
    Summary of Devon Canada Asset Acquisition Assets are a good fit with Canadian Natural Deal metrics are attractive Adds 11% production at 6% of enterprise value Optimizing conventional assets is a Canadian Natural core strength…
  16. ACQUISITION OF DEVON CANADA'S CONVENTIONAL ASSETS – Canadian Natural Resources Limited (CNRL) – slide 16
    CNQ PREMIUM VALUE DEFINED GROWTH INDEPENDENT Slide 17

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