Cenovus Energy Inc. · TSX:CVE
Cenovus Energy — Investor Day (June 2013)
11 slides from Cenovus Energy's investor day presentation, Jun 18, 2013
Slide 1: The oil sands investment of choice
Cenovus Energy The oil sands investment of choice Brian Ferguson, President & Chief Executive Officer Investor Day | Calgary | June 18, 2013 The oil sands investment of choice Premier SAGD operator with a proven track record Innovating through technology & manufacturing Expanding our margin through
Slide 2: SAGD growth is the core of our strategy
SAGD growth is the core of our strategy • Minimal exploration risk • Low F&D costs 1.7 Bbbls Discovered BIIP 1P • Large scale 56 Bbbls 2P 1P 0.7 Bbbls 2C 2P • Stable production 9.6 Bbbls 2C • High recovery factors Undiscovered BIIP 9.6 Bbbls 82 Bbbls • Opportunity to advance technology See advisory
Slide 3: Growing cash flow per share; Continuing to execute in 2013
Growing cash flow per share $/share 6.00 5.00 Guidance range $4.05 - $5.20 4.00 3.00 2.00 1.00 0.00 2010 2011 2012 2013F Our integrated strategy has driven 13% CAGR in cash flow per share 2013F based on December 12, 2012 guidance document. 2010 - 2013F cash flow represents 13% CAGR. See advisory. Co
Slide 4: Dividend contributes to total shareholder return
Dividend contributes to total shareholder return $/share 1.00 0.80 $0.88 $0.80 0.60 0.40 $0.484 0.20 0.00 2011 2012 Q1-Q2 2013 We remain committed to dividend growth Cumulative dividend per period. Dividends are considered by our Board of Directors quarterly. Managing our portfolio to grow net asset
Slide 5: Premier SAGD operator with a proven track record
Premier SAGD operator with a proven track record Steam to oil ratio bbl/bbl 9.0 Peer Producing CVE project Emerging CVE project 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 GR FC TL CL NL Peer producing projects include: CLL, CNQ, COP, DVN, HSE, IMO, JACOS, MEG, NXY, RDS, STO, SU. Source: IHS, cumulative SOR
Slide 6: Expanding our margin through market access & integration
Expanding our margin through market access & integration Market access Integration • Making firm commitments to • Stabilizing overall cash flow multiple pipeline expansions through ownership in refineries • Adding rail capacity • Evaluating debottlenecking opportunities Expanding our margin through
Slide 7: Supporting the business plan with our financial strength
Supporting the business plan with our financial strength Debt to capitalization ratios Times Debt to adjusted EBITDA ratios 40% 2.0 Target range Target range 30% 1.5 20% 1.0 10% 0.5 0% 0.0 Average 2012 2013F 2014F 2015F Average 2012 2013F 2014F 2015F (2016F - 2023F) (2016F - 2023F) Debt to capitaliz
Slide 8: Cenovus's value pledge
Cenovus’s value pledge Deliver on commitments Achieve step change in NAV Sustain decades of growth with manufacturing model Focused on increasing total shareholder return As presented at June 2010 and December 2011 Investor Days. Supplemental information 8
Slide 9: Total shareholder return; Delivering on our commitments in 2012
Total shareholder return TSR 70% Cenovus S&P/TSX Energy Index 60% 50% 40% 30% 20% 10% 0% -10% July July July December March November December March November December March November December March August August August April June April June April June January February May January February January Febr
Slide 10: Corporate responsibility performance highlights in 2012
Corporate responsibility performance highlights in 2012 Environmental performance • Reduced oil sands direct GHG emissions intensity by 21% since 2008 • Reduced NOX emissions by 44% vs. 2009 • Reduced fresh water use intensity at our oil sands operations by 11% vs. 2011 DJSI World Index: only Canadi
Slide 11: Oil & gas information
Oil & gas information OIL & GAS INFORMATION The contingent resources estimates, effective December 31, 2012, and the discovered bitumen initially-in-place estimates, effective December 31, 2009, were prepared by McDaniel & Associates Consultants Ltd., an independent qualified reserves evaluator, and