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September 2015 Investor Presentation – Athabasca Oil Corp

Athabasca Oil Corp · Sep 30, 2015 · 27 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. September 2015 Investor Presentation – Athabasca Oil Corp – slide 1
    ATHABASCA OIL CORPORATION FOCUSED EXECUTING DELIVERING SEPTEMBER 2015 CORPORATE UPDATE
  2. September 2015 Investor 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. September 2015 Investor Presentation – Athabasca Oil Corp – slide 3
    3 CORPORATE OVERVIEW & GUIDANCE CAPITALIZATION OVERVIEW (Q2 2015) PRODUCTION (BOE/D) 14,000 CORPORATE Stock exchange listing TSX Gas 10,000 - 14,000 12,000 Liquids Trading symbol ATH 10,000 Share Price (September 21st, 2015)…
  4. September 2015 Investor Presentation – Athabasca Oil Corp – slide 4
    4 FOCUSED ON OUR CORE ASSETS LIGHT OIL: GREATER KAYBOB 2015 program - 203MM budget o Duvernay: Rig released 6 wells and completed 4 wells to date, recently spud a 2 well pad in the Volatile Oil window, expected to spud a 4 well pad at…
  5. September 2015 Investor Presentation – Athabasca Oil Corp – slide 5
    DUVERNAY OVERVIEW
  6. September 2015 Investor Presentation – Athabasca Oil Corp – slide 6
    6 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…
  7. September 2015 Investor Presentation – Athabasca Oil Corp – slide 7
    KAYBOB DUVERNAY EXPOSURE; LIQUIDS AND 7 OVERPRESSURE DRIVES ECONOMICS GREATER KAYBOB DUVERNAY EXPOSURE HIGH QUALITY LIQUIDS KAYBOB Volatile Oil EAST Land: 156,000 acres 8-18 45API Locations: 1,3001 WI: 99% Kaybob East KAYBOB…
  8. September 2015 Investor Presentation – Athabasca Oil Corp – slide 8
    8 KAYBOB WEST WELL COST IMPROVEMENT 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…
  9. September 2015 Investor Presentation – Athabasca Oil Corp – slide 9
    KAYBOB WEST DUVERNAY ECONOMICS AND 9 WHY COSTS MATTER KAYBOB WEST SOUTH TYPE CURVE1 EXTENDED FREE LIQUIDS YIELDS 1,500 Kaybob West South 300 02/2-34-62-20W5 Extended production data 1,250 08-34-62-20W5 confirming expectations that…
  10. September 2015 Investor Presentation – Athabasca Oil Corp – slide 10
    10 PEER LEADING DUVERNAY EXPOSURE HIGHLIGHTS o Athabasca has exposure to 200,000 acres (98% WI) of prospective Duvernay at Kaybob o Majority of the land is held by the Majors with limited near-term expiries o Athabasca offers the…
  11. September 2015 Investor Presentation – Athabasca Oil Corp – slide 11
    11 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 2…
  12. September 2015 Investor Presentation – Athabasca Oil Corp – slide 12
    HANGINGSTONE OVERVIEW
  13. September 2015 Investor Presentation – Athabasca Oil Corp – slide 13
    13 HANGINGSTONE DEVELOPMENT HANGINGSTONE PROJECT 1 (12,000 BBL/D) HANGINGSTONE INFRASTRUCTURE o Achieved first steam at the end of Q1 2015 o Achieved first oil in July; current production 4,000 bbl/d o US40-45/bbl WTI operating…
  14. September 2015 Investor Presentation – Athabasca Oil Corp – slide 14
    HANGINGSTONE RESULTS 14 DELIVERING ON COMMITMENTS HIGHLIGHTS o Q3 production 2,000 bbl/d vs. expectations of 1,200 bbl/d o Current production 4,000 bbl/d; achieved low end of 2015 exit guidance (3,000-6,000 bbl/d) o Costs trending…
  15. September 2015 Investor Presentation – Athabasca Oil Corp – slide 15
    15 PROJECTED HANGINGSTONE RAMP-UP 12,000 Base Bitumen Production 50 70-80% of design Costs capacity confirms SORs and adequate Capitalized Opex facility capacity 10,000 40 Capex Performance to date Revenue confirms successful…
  16. September 2015 Investor Presentation – Athabasca Oil Corp – slide 16
    16 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…
  17. September 2015 Investor Presentation – Athabasca Oil Corp – slide 17
    SUPPLEMENTAL INFORMATION
  18. September 2015 Investor Presentation – Athabasca Oil Corp – slide 18
    18 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…
  19. September 2015 Investor Presentation – Athabasca Oil Corp – slide 19
    INDUSTRY DUVERNAY ACTIVITY LEVELS AT 19 KAYBOB HIGHLIGHTS LICENSES, SPUDS AND ON PRD. WELLS 120 o 525 wells licensed in the play to date Licenses Spuds 100 o Q1 saw a record 32 industry wells placed on On Prd. production 80 o…
  20. September 2015 Investor Presentation – Athabasca Oil Corp – slide 20
    DUVERNAY ACTIVITY LEVELS IN PERSPECTIVE OF 20 WCSB ACTIVITY YTD WCSB LICENSES YTD WCSB LICENSES IMPLIED FDC (MM)* 1,200 4,500 4,000 1,000 3,500 800 3,000 2,500 600 2,000 400 1,500 1,000 200 500 0 0 Mannville Midale…
  21. September 2015 Investor Presentation – Athabasca Oil Corp – slide 21
    21 KAYBOB DUVERNAY ACTIVITY UPDATE 12 14 25,26 6 9 7 8 1 18 5 19 17 15 21-24 10 4 13 11 3 2 0 16 See Slide 24 for a summary of well results Apache Chevron Conoco Encana Hitic Shell Talisman Trilogy XTO Other…
  22. September 2015 Investor Presentation – Athabasca Oil Corp – slide 22
    22 CONDENSATE RICH GAS WINDOW AOC ACTIVITY KAYBOB WEST SAXON SOUTH o 8 horizontals & 2 verticals Capital (Cur./Dev.) MM 17/10 15/8 o 5 on production & 3 on a soak period 1 Type Curve IP30 boe/d 1,000 - 1,400 700 - 1,400 LAND…
  23. September 2015 Investor Presentation – Athabasca Oil Corp – slide 23
    23 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 horizontals on production Type Curve IP30 1 boe/d 400 - 800+ LAND HOLDERS 2…
  24. September 2015 Investor Presentation – Athabasca Oil Corp – slide 24
    24 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 (MM)…
  25. September 2015 Investor Presentation – Athabasca Oil Corp – slide 25
    25 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…
  26. September 2015 Investor Presentation – Athabasca Oil Corp – slide 26
    26 KAYBOB DUVERNAY WELL SUMMARY Duvernay Well Summary Well UWI Key Dates Drilling Summary Completions Summary Production*** Spud On Prod. Spud - RR Lateral Stages** Proppant Loading IP30**** Cum. Production To Date mmm-yy mmm-yy days…
  27. September 2015 Investor Presentation – Athabasca Oil Corp – slide 27
    27 DEBT AND CREDIT FACILITY OVERVIEW UNDRAWN CREDIT FACILITIES Q2 2015 INTEREST RATE PRE-PAYMENT TERMS Cdn 125MM senior secured revolving credit facility due 2017 124 5% Pre-payable without penalty 05/2015 102% US 50MM senior secured…

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