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TD LONDON ENERGY CONFERENCE – Husky Energy Inc.

Husky Energy Inc. · Jan 13, 2014 · 28 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. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 1
    TD London Energy Conference Robert Peabody - COO January 13th, 2014
  2. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 2
    Overview Balanced growth strategy delivering Consistent execution driving performance and improving returns Transforming the foundation Advancing growth pillars 2
  3. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 3
    2014 Capital Expenditures and Production Guidance Capital Expenditures (billions) Production (mboe/day) 6 400 Forecast range 330 355 mboe/d Forecast range *5.0 350 310 330 mboe/d 5 4.8 Midstream/ Downstream/ Corporate 300…
  4. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 4
    On Track to Achieve Our Targets 2013 Q3 YTD 2012-2017 2012 Actual (9 months) Target Production (mboe/d) 301.5 313 5-8% CAGR 155% Reserve Replacement 140% 2 year On track Ratio average average Return on Capital 9.5% 9.5%…
  5. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 5
    Focused Integration Achieving World Market Prices Realized Pricing on Upstream Production Processed (Nine Months to September 30, 2013) 160.00 140.00 Brent Pricing Realized Price /bbl 120.00 Benchmark 100.00 US Refining…
  6. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 6
    Foundation
  7. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 7
    Heavy Oil Transforming the Foundation Through Thermal Projects 70 years and over 900 million barrels recovered New technologies continue to increase recovery Production growth over the plan period driven by thermal projects…
  8. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 8
    Heavy Oil Thermal Projects Production Growth Current projects producing Thermal Project Production (bbl/d) Development over 37,000 bbls/d at Q3 2013 Timeline 1 Existing Projects 37,000 Producing Projects in place to accelerate…
  9. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 9
    Heavy Oil Thermal Project Economics Metric Target New projects have Construction 2 years competitive SORs Maximum work force 200 during construction Lower operating costs and higher Start up to peak Less than 6 months price…
  10. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 10
    Western Canada - Transforming the Foundation Through Resource Plays Resource Play Maturity Curve Appraisal and Dry gas Identify & Capture/ Commercial Commercial Liquids-Rich Gas Geologic De-risking Development De-risking High…
  11. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 11
    Downstream Reliability/Flexibility Downstream Assets Capacity (mbbls/day) Lima Increase feedstock and product flexibility Lima 160 Feedstock flexibility project to take up to Toledo (Huskys 50% WI) 65 40,000 bbls/d of heavy crudes…
  12. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 12
    Growth Pillars
  13. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 13
    Liwan Progress Project progressing Over 95% complete Deepwater almost complete Drilling finished and completed Main pipeline installed Connecting lines and controls Topsides float over Shallow water in commissioning Topsides…
  14. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 14
    Liwan Economics Liwan 3-1 / 34-2 Production Exploration costs of 700 million priority recovery from first gas largely recovered in 2014 Operating costs 10% of gross revenues Royalties and taxes 20% of gross revenues 1 Five-year…
  15. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 15
    Sunrise Energy Project Approximately 85% complete Large resource base 3.7 billion barrels of 3P reserves1 Sunrise Phase 1 and 2 approvals in place for 200,000 bbl/day (gross) Excellent reservoir quality and oil saturation Cost…
  16. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 16
    Sunrise Milestones Milestone Expected Action Timeframe Drilling spud first horizontal well Q1 2011 Completed Commence major construction Mid-2011 Completed Sunrise May, 2011 Completed ahead of Drilling complete 2nd Half 2012…
  17. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 17
    Atlantic Region Big fields get bigger White Rose produced its originally sanctioned 200 millionth high netback barrel in January 2013 Northern Drill Centre Near-field developments progressing North West White Gas Injection Rose…
  18. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 18
    Exploration Success Flemish Pass discoveries mark a significant new development opportunity Mizzen Harpoon Considerable upside with very Bay du Nord attractive targets still to be drilled in both the Flemish Pass and the…
  19. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 19
    Summary Balanced growth strategy delivering Consistent execution driving performance and improving returns Transforming the foundation Advancing growth pillars 19
  20. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 20
    Investor Relations Contacts Rob McInnis Manager Investor Relations +1 403 298 6817 Rob.McInnishuskyenergy.com Justin Steele Investor Relations +1 403 298 6818 Justin.Steelehuskyenergy.com Dan Cuthbertson Investor Relations +1 403…
  21. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 21
    Advisories The Company uses the term barrels of oil equivalent (boe), which are calculated on an energy equivalence basis whereby one barrel of crude oil is equivalent to six thousand cubic feet of natural gas. Readers are cautioned that…
  22. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 22
    Resource Play Summary Western Canada Total Approximate PIIP Production Resource Play Net Acres mmboe* boe/d /section Established Oil Slater River Bakken 18,000 Viking 60,000 Oil 5 - 10 Cardium 10,000 7,000 Lower Shaunavon 14,000…
  23. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 23
    Resource Play Reserves Summary at December 31, 2012 Proved Reserves Probable Reserves Possible Reserves Resource Play Oungre Bakken 3,034 mbbl 873 mbbl - Redwater Viking 6,480 mbbl 608 mbbl - Alliance Viking 1,984 mbbl 17 mbbl -…
  24. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 24
    Madura Developments Field Production Budget Development Prices Status (Net) (gross) MDA & 60 mmcf/d gas US120- Two wellhead Expecting Plan of Development (POD) submitted MBH US150MM platforms and pipeline US 6-8/mcf Upon POD approval…
  25. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 25
    Exploration/Development Opportunities Asia Pacific South China Sea Indonesia China Taiwan Kaohsiung Hong Kong Taiwan Block Liwan Haikou Wenchang Hainan Exploration opportunity offshore Taiwan Proven knowledge of…
  26. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 26
    South White Rose Extension Project Combined oil production and gas and water injection centre 20 MMBBLS (3P reserves1) of oil (net) (on production 2014) Budget: 800 million (net) Milestone Expected Action Timeframe Gas injection Q2…
  27. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 27
    West WestWhite WhiteRose ExtensionProject Rose Extension Project Wellhead Platform 80 MMBBLS (3P reserves1) of oil (net) (on production 2016/17) Concept evaluation includes Wellhead Platform Milestone Expected Action Timeframe…
  28. TD LONDON ENERGY CONFERENCE – Husky Energy Inc. – slide 28
    Emerging Exploration Opportunities Atlantic Atlantic Canada Greenland Mizzen Harpoon Bay du Nord White Rose Aster Hibernia Terra Nova 25 years of proven exploration, development and operation expertise in harsh…

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