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MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp

Athabasca Oil Corp · May 12, 2015 · 24 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. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 1
    ATHABASCA OIL CORPORATION FOCUSED EXECUTING DELIVERING MAY 2015 CORPORATE UPDATE
  2. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 2
    2 REFINED STRATEGY FOR VALUE CREATION Material Core Assets o 1,000+ well inventory in the Duvernay shale play at Kaybob o 80,000 bbl/d project potential at the Hangingstone thermal asset WORLD CLASS ASSETS Diverse portfolio provides…
  3. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 3
    3 CORPORATE OVERVIEW CAPITALIZATION OVERVIEW (Q1 2015) Stock exchange listing TSX Trading symbol ATH Share Price (May 8, 2015) 2.04 /sh 52-week trading range 1.61 - 8.03 /sh Basic shares outstanding 403 MM Fully diluted shares…
  4. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 4
    4 WELL POSITIONED FOR GROWTH 2015 HIGHLIGHTS o Building a business that is self funded in the medium-term o Exit volumes expected to grow by 75% in 2015 o Conservative approach to capital allocation and spending CAPEX/ FUNDING IN…
  5. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 5
    5 FOCUSED ON OUR CORE ASSETS LIGHT OIL: GREATER KAYBOB 2015 program o 203 million full year budget o 10 Duvernay and 2 Montney wells (2014/15 winter program) Go forward flexibility Hangingstone o Near-term Duvernay land retention…
  6. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 6
    7 THE DUVERNAY IS A WORLD CLASS RESOURCE SELECT UNCONVENTIONAL PLAYS IN o Large in place resource NORTH AMERICA WORLD o High liquids yield: 100 -1,000 bbl/MMcf liquids CLASS o Initial results compare favorably to the Eagle Ford…
  7. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 7
    MATERIAL EXPOSURE ACROSS THE KAYBOB 8 DUVERNAY FAIRWAY Volatile Oil Sections: 150,000 acres Locations: 1,300+ 12 Kaybob Kaybob East West North 14 Simonette 6 7 9 5 1 18 Two Creeks 8 19 15 17 Kaybob West 10 4 3 13 11…
  8. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 8
    9 KAYBOB DUVERNAY ACTIVITY UPDATE 12 14 6 7 9 5 1 18 8 19 15 17 10 4 3 13 11 2 16 See Slide 22 for a summary of well results Xto Conoco Encana Talisman Other Apache Partial Apache Chevron Hitic Shell Trilogy…
  9. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 9
    LIQUIDS AND OVERPRESSURE DRIVES 10 ECONOMICS o Industry drilling has confirmed the overpressured nature of the basin o High quality product (API low 40s to mid 50s) o Material exposure across all thermal maturity windows KAYBOB…
  10. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 10
    11 CONDENSATE RICH GAS WINDOW OVERVIEW KAYBOB WEST SAXON SOUTH o Most active area to date in the play Capital (Cur./Dev.) MM 17/10 15/8 o Material inventory of wells (50 at Kaybob Restricted IP30 boe/d 1,000 - 1,400 700 - 1,400 West…
  11. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 11
    12 UNLOCKING THE VOLATILE OIL WINDOW WHAT WE KNOW VOLATILE OIL WINDOW o Encouraged by initial success from AOC and others Capital (Cur./Dev.) MM 12 - 17 / 7 - 12 (restricted IPs 400 boe/d, over-pressured, high Restricted IP30 boe/d 400…
  12. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 12
    13 DUVERNAY MILESTONES & TARGETS 2013 2014 2015 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Guiding Met Quarterly Production 5,000 Guidance boe/d Initial Appraisal 3 horizontal producing wells across basin…
  13. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 13
    14 DUVERNAY GROWTH SCENARIO SCENARIO OVERVIEW o Potential for significant annual production growth o Cost learnings with the transition to development o Flexibility to control pace of activity ANTICIPATED COST LEARNING CURVE…
  14. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 14
    15 CONTROL OF STRATEGIC INFRASTRUCTURE Total Battery Capacity Gas Pipeline Oil Capacity 36,000 bbl/d Up to Gas Capacity 84 MMcf/d, 180 MMcf/d Gas Capacity expandable to 130 MMcf/d Kaybob East AOC 91 km Pipeline Fort…
  15. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 15
    16 MONTNEY APPRAISAL AT PLACID PLACID MONTNEY WELL ECONOMICS1 o Completed a 2 well winter appraisal program aimed Current Development at demonstrating well performance similar to Capital MM 12.2 8.1 offsetting operators IP30 boe/d…
  16. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 16
    HANGINGSTONE OVERVIEW
  17. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 17
    18 HANGINGSTONE DEVELOPMENT HANGINGSTONE PROJECT 1 (12,000 BBL/D) HANGINGSTONE INFRASTRUCTURE o 68 million forecasted remaining spend in 2015 o Achieved first steam at the end of Q1 2015 o US50-55/bbl cash flow break-even WHAT HS1…
  18. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 18
    19 HANGINGSTONE OPERATIONS & MILESTONES 12,000 Base Bitumen Production 50 Costs Capitalized Opex 10,000 40 Capex Revenue 8,000 30 MM 6,000 bbl/d 20 4,000 10 2,000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2015 2016…
  19. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 19
    20 AOC LEARNINGS LEAD TO SUCCESS POTENTIAL LEARNINGS APPLIED 5m of separation as per design ISSUE Drilled more delineation wells than industry KNOW THE average RESERVOIR High definition 3D Seismic Engineering and construction best…
  20. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 20
    SUPPLEMENTAL INFORMATION
  21. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 21
    22 KAYBOB DUVERNAY WELL SUMMARY Duvernay Horizontal Well Summary Well UWI Key Dates Drilling Summary Completions Summary Production*** Spud On Prod. Spud - RR Lateral Stages** Water Sand IP30**** Cumulative Production To Date mmm-yy…
  22. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 22
    VALUE FROM CONDENSATE RICH GAS AND 23 VOLATILE OIL 2-34-62-20W5 WELL ECONOMICS WELL NPV SENSITIVITY TO LIQUIDS YIELDS1 Current Development 15 8-29-064-20W5 Capital MM 15.0 10.0 12 NPV 10% (MM) IP30 boe/d 1,350 1,350…
  23. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 23
    24 DEBT AND CREDIT FACILITY OVERVIEW UNDRAWN CREDIT FACILITIES Q1 2015 INTEREST RATE PRE-PAYMENT TERMS Cdn 125 million senior secured revolving credit facility due 2017 125 5% Pre-payable without penalty 05/2015 102% US 50 million…
  24. MAY 2015 CORPORATE UPDATE – Athabasca Oil Corp – slide 24
    25 OTHER LONG TERM ASSETS Slave Point BIRCH SLAVE POINT o 675,000 acre land position o 2.1 Bbbl contingent resource1 (best estimate) o Validated oil production with 2013 pilot program Birch Dover DOVER WEST SANDS West…

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