Investor Presentaiton
Kearl 2021 performance
Demonstrated strength of Kearl asset
Production
kbd
250
200
2020
Unit cash costs¹
$US/bbl
30
20
Supplemental Turnaround
Crushers
Interval
Grade &
Recovery
20.56
-0.70
2021
■ Record production in 2021
> Exceeded prior record by 40 kbd
> Realized full benefit of supplemental crushers (+24 kbd)
> Achieved turnaround interval extension (+7 kbd)
Set new records in 9 of 12 months
> Best ever month of 311 kbd set in June
> Production profile optimized for seasonality
■ Unit cost¹ reduced 21% vs. 2019 ($US 28/bbl)
> Step change achieved in 2020
> Further $US 0.70/bbl reduction in 2021
> $US 19.86/bbl unit cash cost¹ ex. forex and energy increase
22.42
2.56
10
FOREX
2020
0.75
Production 100% interest, before royalties
Optimization
Forex & Energy
2021
0.80
Energy cost includes predominantly natural gas, diesel, and power.
1 Non-GAAP financial ratio - see supplemental information for definition and reconciliation
Imperial | 2022 | 30View entire presentation