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March 2016 Corporate Update – Athabasca Oil Corp

Athabasca Oil Corp · Mar 31, 2016 · 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. March 2016 Corporate Update – Athabasca Oil Corp – slide 1
    ATHABASCA OIL CORPORATION FOCUSED EXECUTING DELIVERING MARCH 2016 CORPORATE UPDATE
  2. March 2016 Corporate Update – Athabasca Oil Corp – slide 2
    ATHABASCA INVESTMENT HIGHLIGHTS 2 ALBERTA ASSETS Light Oil JV with Murphy Oil Corporation announced Jan. 2016 o Operated Montney at Placid (60,000 acres, 70% WI) MATERIAL o Non-operated Duvernay at Kaybob (200,000 acres, 30% WI)…
  3. March 2016 Corporate Update – Athabasca Oil Corp – slide 3
    3 EXECUTION TRACK RECORD PRODUCTION GROWTH LIGHT OIL RESERVES GROWTH 16,000 70 Thermal 14,000 Light Oil (Gas) 60 LIght Oil 2P Reserves (mmboe) Light Oil (Liquids) 12,000 50 Production (boe/d) 10,000 40 8,000 30…
  4. March 2016 Corporate Update – Athabasca Oil Corp – slide 4
    4 LIGHT OIL JOINT VENTURE WITH MURPHY OIL STRATEGIC RATIONALE o Corporate o Reduce development risk profile while maintaining upside potential o Strengthen balance sheet and facilitate debt refinancing o Montney o Material operated…
  5. March 2016 Corporate Update – Athabasca Oil Corp – slide 5
    5 JOINT VENTURE MAP Greater Kaybob Assets AOC 30% WI in 200,000 Duvernay acres 6,900 boe/d gross (Dec. average) Greater Placid Assets 70% WI in 60,000 Montney acres 900 boe/d gross (Dec. average)
  6. March 2016 Corporate Update – Athabasca Oil Corp – slide 6
    2016 CAPITALIZATION AND GUIDANCE 6 2016 GUIDANCE PRO FORMA JV* CAPITALIZATION (ATH-TSX) o CAPITAL: 50 55MM (excl. 8MM cap G&A) Share Price (March 7, 2016) 1.26 /sh o Light Oil: 40 45MM Basic shares outstanding 404 MM o Thermal Oil:…
  7. March 2016 Corporate Update – Athabasca Oil Corp – slide 7
    PROACTIVELY TRANSITIONING THE CAPITAL 7 STUCTURE 2016 BALANCE SHEET OBJECTIVES EVENTS TIMELINE o Reduce term debt by 300 400MM o Improve debt maturity horizons & reduce servicing costs o Ensure sufficient liquidity & maintain…
  8. March 2016 Corporate Update – Athabasca Oil Corp – slide 8
    MONTNEY OVERVIEW
  9. March 2016 Corporate Update – Athabasca Oil Corp – slide 9
    9 REGIONAL MONTNEY OVERVIEW HIGHLIGHTS MONTNEY ACTIVITY & IP90 HEAT MAP o 185 Montney wells regionally o Top wells concentrated at Placid, Bigstone and T64 Waskahigan o Validates liquids rich sweet spot at Placid T63 (AOC 8-20…
  10. March 2016 Corporate Update – Athabasca Oil Corp – slide 10
    10 PLACID MONTNEY: TOP QUARTILE REAL ESTATE ASSET HIGHLIGHTS (70% WI) 5 PLACID MONTNEY 3 5 o 25,000 acres o Prospectivity in two Montney cycles T61 o 90 Montney C locations1 1 o 75 Montney D locations1 9-26 2 2016…
  11. March 2016 Corporate Update – Athabasca Oil Corp – slide 11
    DUVERNAY OVERVIEW
  12. March 2016 Corporate Update – Athabasca Oil Corp – slide 12
    12 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 RESOURCE o Initial results compare favorably to the Eagle Ford…
  13. March 2016 Corporate Update – Athabasca Oil Corp – slide 13
    KAYBOB DUVERNAY EXPOSURE; LIQUIDS AND OVERPRESSURE DRIVES ECONOMICS 13 GREATER KAYBOB DUVERNAY EXPOSURE HIGH QUALITY LIQUIDS KAYBOB Volatile Oil1 EAST Land: 156,000 acres 8-18 45API Locations: 1,300 WI: 30% 12 Kaybob East…
  14. March 2016 Corporate Update – Athabasca Oil Corp – slide 14
    DUVERNAY OBJECTIVES 14 HIGHLIGHTS & ACTIVITY KAYBOB WEST WELL COSTS o 95% of acreage held into the intermediate term 20 Complete 70 Drill Drilling Days (Spud to Rig Release) o 2 well volatile oil proppant test Drilling Days…
  15. March 2016 Corporate Update – Athabasca Oil Corp – slide 15
    CONTROL OF STRATEGIC INFRASTRUCTURE 15 R26 R24 R22 R20 R18 R16 R14W5 Total Battery Capacity (gross) Gas Pipeline (gross) T67 T67 Oil Capacity 36,000 bbl/d Gas Up to Capacity 180 MMcf/d 84 MMcf/d, Gas Capacity expandable to 130…
  16. March 2016 Corporate Update – Athabasca Oil Corp – slide 16
    HANGINGSTONE OVERVIEW
  17. March 2016 Corporate Update – Athabasca Oil Corp – slide 17
    17 HANGINGSTONE DEVELOPMENT HANGINGSTONE PROJECT 1 (12,000 BBL/D) HANGINGSTONE INFRASTRUCTURE o First steam at the end of Q1 2015 TCPL o Current production 8,000 bbl/d Natural Gas Mainline o Successfully tied-in to Enbridge sales…
  18. March 2016 Corporate Update – Athabasca Oil Corp – slide 18
    AOC LEARNINGS LEADING TO SUCCESS; 18 EXPECTED OPERATING CASH FLOW HANGINGSTONE RAMP UP LEARNINGS APPLIED Current Drilled more delineation wells than Production KNOW THE industry average RESERVOIR High definition 3D Seismic…
  19. March 2016 Corporate Update – Athabasca Oil Corp – slide 19
    SUPPLEMENTAL INFORMATION
  20. March 2016 Corporate Update – Athabasca Oil Corp – slide 20
    PLACID MONTNEY WELL SUMMARY 20 Montney Well Summary Well UWI Key Dates Drilling Summary Completions Summary Production** Spud On Prod. Spud - RR Lateral Stages Proppant Loading IP90 Cum. Production To Date mmm-yy mmm-yy days m…
  21. March 2016 Corporate Update – Athabasca Oil Corp – slide 21
    KAYBOB DUVERNAY ACTIVITY UPDATE 21 12 14 25,26 6 9 7 8 1 18 5 19 17 15 21-24 10 4 13 11 3 2 0 16 Apache Chevron Conoco Encana Hitic Shell Talisman Trilogy XTO Other Trilogy Partial Apache Partial AOC Duvernay…
  22. March 2016 Corporate Update – Athabasca Oil Corp – slide 22
    KAYBOB DUVERNAY WELL SUMMARY 22 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…
  23. March 2016 Corporate Update – Athabasca Oil Corp – slide 23
    23 DEBT AND CREDIT FACILITY OVERVIEW CREDIT FACILITIES CURRENT INTEREST RATE PRE-PAYMENT TERMS Cdn 125MM senior secured revolving credit facility due 2017* 28 5% Pre-payable without penalty Undrawn US 50MM senior secured term…
  24. March 2016 Corporate Update – Athabasca Oil Corp – slide 24
    ALBERTAS OIL SANDS 24 A GLOBAL ENVIRONMENTAL LEADER HIGHLIGHTS o Canada, with 0.5% of the worlds population, produces about 2% of global CO2 emissions o Oil sands accounted for 8.5% of Canada GHG emissions and about 0.13% of global GHG…

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