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JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp

Athabasca Oil Corp · Jun 24, 2015 · 26 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. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 1
    ATHABASCA OIL CORPORATION FOCUSED EXECUTING DELIVERING JUNE 2015 CORPORATE UPDATE
  2. JUNE 2015 CORPORATE PRESENTATION – 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 Kaybob1 o 80,000 bbl/d project potential at the Hangingstone thermal asset WORLD CLASS ASSETS Diverse portfolio…
  3. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 3
    3 CORPORATE OVERVIEW CAPITALIZATION OVERVIEW (Q1 2015) Stock exchange listing TSX Trading symbol ATH Share Price (May 28, 2015) 2.13 /sh 52week trading range 1.61 8.00 /sh Basic shares outstanding 403 MM Fully diluted shares…
  4. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 4
    4 WELL POSITIONED FOR GROWTH 2015 HIGHLIGHTS o Building a business that is self funded in the mediumterm o Exit volumes expected to grow by 75% in 2015 o Conservative approach to capital allocation and spending CAPEX/ FUNDING IN…
  5. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 5
    A FOCUS ON MAINTAINING BALANCE SHEET 5 STRENGTH & FINANCIAL FLEXIBILITY STRONG LIQUIDITY POSITION o 660MM of cash, cash equivalents & shortterm investments1 o 284MM of promissory notes from PetroChina2 o 188MM of undrawn credit…
  6. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 6
    6 FOCUSED ON OUR CORE ASSETS LIGHT OIL: GREATER KAYBOB 2015 program o 203 million full year budget o Rig release 11 Duvernay wells; completion operations on least 4 wells o Rig release 1 Montney well; completion operations on 2 wells…
  7. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 7
    DUVERNAY OVERVIEW
  8. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 8
    8 THE DUVERNAY IS A WORLD CLASS RESOURCE 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…
  9. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 9
    KAYBOB DUVERNAY EXPOSURE; LIQUIDS AND 9 OVERPRESSURE DRIVES ECONOMICS GREATER KAYBOB DUVERNAY EXPOSURE HIGH QUALITY LIQUIDS KAYBOB Volatile Oil EAST Land: 156,000 acres 818 45API Locations: 1,1001 Kaybob East KAYBOB 14 Two…
  10. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 10
    10 CONDENSATE RICH GAS WINDOW AOC ACTIVITY KAYBOB WEST SAXON SOUTH o 8 horizontals & 2 verticals Capital (Cur./Dev.) MM 17/10 15/8 o 4 on production & 3 waiting on completion 1 Type Curve IP30 boe/d 1,000 1,400 700 1,400 2…
  11. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 11
    11 KAYBOB WEST WELL COST INITIATIVE WELL COST IMPROVEMENTS o Scale through pad drilling is the largest driver for improved efficiencies o Drilling Completions: o Fit for purpose rigs o Frac fluid and volume optimization o Wellbore…
  12. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 12
    KAYBOB WEST DUVERNAY ECONOMICS AND 12 WHY COSTS MATTER KAYBOB WEST SOUTH TYPE CURVE KAYBOB WEST SOUTH FREE LIQUIDS YIELDS 1,200 Kaybob West Type Curve 300 Kaybob West Type Curve 102/02346220W5 102/02346220W5 100/08346220W5…
  13. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 13
    13 UNLOCKING THE VOLATILE OIL WINDOW AOC ACTIVITY VOLATILE OIL PARAMETERS o 7 horizontals & 3 verticals Capital (Cur./Dev.) MM 12 17 / 7 10 o 4 on production & 3 wells waiting on 1 Type Curve IP30 boe/d 400 800+ completion/tiein 2…
  14. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 14
    14 DUVERNAY MILESTONES & TARGETS 2013 2014 2015 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Appraisal & 95% of 200,000 acres held into intermediate term Land Tenure 15 Horizontal and 5 Vertical wells Establish Pad…
  15. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 15
    15 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…
  16. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 16
    16 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…
  17. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 17
    17 MONTNEY APPRAISAL AT PLACID PLACID MONTNEY HIGH QUALITY LIQUIDS o Completed a 2 well winter appraisal program aimed at demonstrating well performance similar to offsetting operators o 100+ potential inventory (2 separate Montney…
  18. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 18
    HANGINGSTONE OVERVIEW
  19. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 19
    19 HANGINGSTONE DEVELOPMENT HANGINGSTONE PROJECT 1 (12,000 BBL/D) HANGINGSTONE INFRASTRUCTURE o 68 million forecasted remaining spend in 2015 R14 R13 R12 R11 R10 R9 R8 R7 R6W4 T89 FORT MCMURRAY T89 o Achieved first steam at the…
  20. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 20
    20 PROJECTED HANGINGSTONE RAMP-UP Assumes flat pricing of US50/bbl WTI, 26% WCS diff, 0.78 FX and 3/mcf AECO 12,000 Base Bitumen Production 50 Costs Capitalized Opex 10,000 40 Capex Revenue 8,000 30 MM bbl/d 6,000…
  21. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 21
    21 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…
  22. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 22
    SUPPLEMENTAL INFORMATION
  23. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 23
    23 KAYBOB DUVERNAY ACTIVITY UPDATE 12 14 6 9 7 8 1 18 5 19 17 15 10 13 11 3 4 2 0 16 See Slide 24 for a summary of well results Apache Chevron Conoco Encana Hitic Shell Talisman Trilogy XTO Other Trilogy…
  24. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 24
    24 KAYBOB DUVERNAY WELL SUMMARY Duvernay 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 mmmyy mmmyy days m m3…
  25. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 25
    25 DEBT AND CREDIT FACILITY OVERVIEW UNDRAWN CREDIT FACILITIES Q1 2015 INTEREST RATE PREPAYMENT TERMS Cdn 125 million senior secured revolving credit facility due 2017 125 5% Prepayable without penalty 05/2015 102% US 50 million…
  26. JUNE 2015 CORPORATE PRESENTATION – Athabasca Oil Corp – slide 26
    26 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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