Investor Presentaiton
Cold Lake 2021 performance
Performance exceeding expectations and sustainable into the future
Production performance
kbd
150
100
kbd
150
132
140
■ Increased production 8 kbd vs. 2020
> Water balance strategy and equipment reliability (~5 kbd)
> Infill drilling and optimization (~3 kbd)
▸ Strongest reliability in past 5 years
Executing on 2021 asset strategy with strong results
> Started up Mahkeses LASER solvent 1Q21
> Progressed innovative "Niche" drilling program
> Startup of infills at Mahihkan field
Initiated construction of butane blending facility
> Optimized diluent usage saving ~$20M of margin erosion
Continued robust cash generation through
cycles, underpinned by operating performance
and selective investments
2020
Reliability Optimization Infill Drilling
2021
100
2018-2020
2021-2023
2024-2026
Imperial | 2022 | 35View entire presentation