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CORPORATE PRESENTATION – Husky Energy Inc.

Husky Energy Inc. · Sep 1, 2014 · 30 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. CORPORATE PRESENTATION – Husky Energy Inc. – slide 1
    Corporate Presentation September 2014
  2. CORPORATE PRESENTATION – Husky Energy Inc. – slide 2
    Strategy and Portfolio Development Balanced growth strategy delivering Transforming the foundation Focused integration achieving world market prices Delivering major projects Top-quartile dividend Reliable and repeatable…
  3. CORPORATE PRESENTATION – Husky Energy Inc. – slide 3
    Rich Queue of Projects Near-Term (2014-2016) Mid-Term (2017-2019) Long-Term (2020+) Sandall Thermal Pikes Peak North Thermal Lloyd 3 Thermal Rush Lake Thermal Rush Lake 2 Thermal McMullen Thermals Edam West Thermal Lloyd 1 Thermal…
  4. CORPORATE PRESENTATION – Husky Energy Inc. – slide 4
    Shaping Risk and Delivering Higher Quality Returns Portfolio Flexibility Longer Wavelength Focused Integration Higher Quality Returns = + Sustainable Growth Shaping Execution Risk Oilier Pricing 4
  5. CORPORATE PRESENTATION – Husky Energy Inc. – slide 5
    On Pace With Our Targets 2012-2017 2010 Actual 2013 Actual Targets Production (mboe/d) 287 312 5 - 8% CAGR (3) Cash Flow from Operations (3) 3.1 billion 5.0 billion 6 - 8% CAGR (3) Reserve Replacement Ratio (1) 184% 166% 140%…
  6. CORPORATE PRESENTATION – Husky Energy Inc. – slide 6
    Delivering Pricing Reliability Realized Pricing on Upstream Production Processed (March 31, 2014) 160 140 Brent Pricing 120 Benchmark Realized Price /bbl 100 80 US Refining 60 Infrastructure and Marketing 40 CDN Upgrading…
  7. CORPORATE PRESENTATION – Husky Energy Inc. – slide 7
    Foundation Portfolio Project Forecast Net Forecast Net Forecast Production Capex IRR 2014-2019 Expected Production Adds (BOE/D) Near-Term (2014-2016) 300 Heavy Oil Thermals Four sanctioned projects 33,500 1.3 bln 20% Western Canada…
  8. CORPORATE PRESENTATION – Husky Energy Inc. – slide 8
    Heavy Oil Thermal Portfolio Heating Up Thermal First Oil Current/ Status Thermal Production Forecast* Project Date Forecasted Net 80 80,000 Production Rate Pikes Peak 1984 4,100 Bolney Celtic 1996 19,000 Producing 60…
  9. CORPORATE PRESENTATION – Husky Energy Inc. – slide 9
    Heavy Oil Typical Thermal Economics Metric Target 1 Construction time 2 years Start up to peak < 3 months production SOR target 2.0 early years Pikes Peak South Sustaining capital/bbl2 5 - 7 Life of project 15 Years + Recoveries…
  10. CORPORATE PRESENTATION – Husky Energy Inc. – slide 10
    Heavy Oil Leveraging Thermal Expertise at McMullen Best estimate contingent resources of 644 mmbbls* Development Build on Heavy Oil expertise Several 10,000 bpd projects Timeline One project in mid-term Several others in…
  11. CORPORATE PRESENTATION – Husky Energy Inc. – slide 11
    Western Canada Resource Plays - Old Dog, New Tricks Extensive resource play portfolio diversified by product, region and scale Investing in the right projects Breaking down silos to improve efficiencies 11
  12. CORPORATE PRESENTATION – Husky Energy Inc. – slide 12
    Ansell Room to Run Large land base Multi-zone potential: 800 locations Fully scalable Ansell Area Wilrich Wells Cumulative Production 3,500 Cumulative Production (mmcf) 3,000 2,500 2,000 1,500 1,000 500 0 0 2 4…
  13. CORPORATE PRESENTATION – Husky Energy Inc. – slide 13
    Downstream Strong Infrastructure Position Downstream Assets Capacity (mbbls/day) Lima 160 Toledo (Huskys 50% W.I.) 65 Upgrader 82 Asphalt Refinery 29 Prince George Refinery 12 13
  14. CORPORATE PRESENTATION – Husky Energy Inc. – slide 14
    Downstream Stabilize Cash Flow and Improve Returns 1,2 Integrated on 700 Total Net Operating Earnings 120.00 a barrel for 600 110.00 barrel basis 5 100.00 Reduces cash 500 flow volatility 90.00 400 Strong returns 80.00…
  15. CORPORATE PRESENTATION – Husky Energy Inc. – slide 15
    Pillars Portfolio Project Forecast Net Production Forecast Net Forecast Forecast Net Production (boe/d) Capex IRR Near-Term (2014-2016) 200 Asia Pacific Liuhua 34-2 3,300 100 mm 15% Oil Sands Sunrise Phase 1 30,000 1.4 bln 11-13%…
  16. CORPORATE PRESENTATION – Husky Energy Inc. – slide 16
    Liwan Gas Project Delivered 6.5 billion project for three fields Largest offshore platform in Asia; 1 bcf/d gas terminal About seven years from discovery to production Producing gas and liquids Liwan 3-1 deepwater facilities…
  17. CORPORATE PRESENTATION – Husky Energy Inc. – slide 17
    Indonesian Discoveries & Developments BD field in construction Net production of 40 mmcf/d gas and 2,400 boe/d liquids (2017F) MBH Field MDA Field MDA and MBH fields in tender BD Field phase Net production of 50 mmcf/d…
  18. CORPORATE PRESENTATION – Husky Energy Inc. – slide 18
    Asia Pacific The Next Chapter Exploration blocks Southern Gas Field Taiwan Madura exploration Anugerah PSC Offshore Taiwan Leveraging our expertise 2013 Acquisition Lines 2014 Planned Acquisition Husky Block boundary Assessing…
  19. CORPORATE PRESENTATION – Husky Energy Inc. – slide 19
    Oil Sands Predictable Earnings and Cash Flow Project Forecast Net Forecast Forecast 40-60 year project life Production (boe/d) Net Capex IRR Paced growth with huge upside Near-Term (2014-2016) Technology reducing sustaining Sunrise…
  20. CORPORATE PRESENTATION – Husky Energy Inc. – slide 20
    Sunrise Phase 1 By The Numbers Metric Target Production (net) 30,000 bbls/d Start up to full production 18-24 Months SOR design rate 3.0 Sustaining capital per bbl 1 8 Life of project 40-60 years Operating cost per bbl 16-18…
  21. CORPORATE PRESENTATION – Husky Energy Inc. – slide 21
    Atlantic A Deep Portfolio High netback barrels Project Forecast Net Peak Forecast Net Forecast Production (boe/d) Capex IRR Production and cash Near-Term (2014-2016) flow through the 2020s North Amethyst Hibernia well 5,000 100 mm…
  22. CORPORATE PRESENTATION – Husky Energy Inc. – slide 22
    West White Rose Improving Drilling Efficiency SeaRose FPSO processing reduces overall project cost Wellhead platform designed to facilitate other tie-backs Sanction upon development plan approval 22
  23. CORPORATE PRESENTATION – Husky Energy Inc. – slide 23
    Flemish Pass Stay Tuned Multiple targets identified West Hercules drilling rig secured 18-month drilling campaign starting in Q3 2014 Balancing exploration against development Map courtesy of Statoil 23
  24. CORPORATE PRESENTATION – Husky Energy Inc. – slide 24
    Balanced Growth Strategy Is Delivering Expansive growth portfolio Higher quality returns Hitting five-year targets Top-quartile dividend 24
  25. CORPORATE PRESENTATION – Husky Energy Inc. – slide 25
    Advisories Non-GAAP Measures This document contains certain terms which do not have any standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other issuers. None of these…
  26. CORPORATE PRESENTATION – Husky Energy Inc. – slide 26
    Advisories Note to U.S. Readers The Company reports its reserves and resources information in accordance with Canadian practices and specifically in accordance with National Instrument 51-101, Standards of Disclosure for Oil and Gas…
  27. CORPORATE PRESENTATION – Husky Energy Inc. – slide 27
    Appendix
  28. CORPORATE PRESENTATION – Husky Energy Inc. – slide 28
    Reserves Breakdown: Foundation Portfolio Project WI W-I WI- WI Contingent Proved Probable Possible- Resources MMBOE MMBOE MMBOE Best Estimate MMBOE Heavy Oil Non-Thermal (total) 80.1 40.1 24.2 - Heavy Oil Cold EOR 2.4 0.9 1.8 35.0…
  29. CORPORATE PRESENTATION – Husky Energy Inc. – slide 29
    Reserves Breakdown: Pillars Portfolio Project Working Interest Working Interest Working Interest WI Proved MMBOE Probable MMBOE Possible MMBOE Contingent Resources Best Estimate MMBOE Atlantic Region White Rose S. Avalon Oil 23.9…
  30. CORPORATE PRESENTATION – Husky Energy Inc. – slide 30
    Appendix: Liwan Economics Operating costs 10% Taxes and royalties 20% Exploration cost recovery 800mm Gross Production Time Offshore platform Field Capacity Price Frame Liwan 3-1 Gas 300 mmcf/d 11-13/mcf Current NGLs 10-14…

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