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June 2016 Corporate Update – Athabasca Oil Corp

Athabasca Oil Corp · Jun 17, 2016 · 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 2016 Corporate Update – Athabasca Oil Corp – slide 1
    ATHABASCA OIL CORPORATION FOCUSED EXECUTING DELIVERING JUNE 2016 CORPORATE UPDATE
  2. June 2016 Corporate Update – Athabasca Oil Corp – slide 2
    ATHABASCA INVESTMENT HIGHLIGHTS 2 ALBERTA ASSETS Light Oil JV with Murphy Oil Corporation o Scalable Montney position at Placid (60k acres, 70% WI) o Funded Duvernay development at Kaybob (200k acres, 30% WI) CORE Thermal Oil…
  3. June 2016 Corporate Update – Athabasca Oil Corp – slide 3
    3 OUR PATH FORWARD DEFINED & MATERIAL LIGHT OIL GROWTH PRODUCTION 40 Montney - Upside o Scalable Montney position Montney - Base 35 Duvernay o Funded Duvernay development 30 Thermal 25 mboe/d 20 THERMAL LEVERAGE TO OIL PRICES…
  4. June 2016 Corporate Update – Athabasca Oil Corp – slide 4
    4 EXECUTION TRACK RECORD PRODUCTION LIGHT OIL RESERVES 16 Thermal 70 Light Oil (Gas) 14 Light Oil (Liquids) 60 LIght Oil 2P Reserves (mmboe) 12 Production (mboe/d) 50 10 40 8 30 6 20 4 10 2 0 0 2012 2013 2014…
  5. June 2016 Corporate Update – Athabasca Oil Corp – slide 5
    2016 GUIDANCE AND CAPITALIZATION 5 2016 GUIDANCE CAPITALIZATION (ATH-TSX) o CAPITAL Share Price (June 17, 2016) 1.28 /sh Corporate 53MM (excl. 8MM cap G&A) Basic shares outstanding 404 MM Light Oil: 42MM Market capitalization 517…
  6. June 2016 Corporate Update – Athabasca Oil Corp – slide 6
    6 CONTINGENT BITUMEN ROYALTY SLIDING SCALE PRICING HIGHLIGHTS Hangingstone Project 1 Other Thermal Realized Implied Realized Implied Royalty Royalty o Contingent bitumen royalty on thermal assets Bitumen Price WTI* Bitumen Price…
  7. June 2016 Corporate Update – Athabasca Oil Corp – slide 7
    MONTNEY OVERVIEW
  8. June 2016 Corporate Update – Athabasca Oil Corp – slide 8
    8 REGIONAL MONTNEY OVERVIEW HIGHLIGHTS MONTNEY ACTIVITY & IP90 HEAT MAP o 200 Montney wells on production regionally T64 o Top wells concentrated at Placid, Bigstone and Waskahigan T63 o Appraisal campaign validates liquids…
  9. June 2016 Corporate Update – Athabasca Oil Corp – slide 9
    9 PLACID MONTNEY TOP QUARTILE LAND ASSET HIGHLIGHTS (70% WI) R25 PLACID R24 MONTNEY R23 R22W5 o 25,000 acres o Prospectivity in two Montney cycles T61 o 90 Montney C locations1 1 9-26 o 75 Montney D locations1 2 RECENT…
  10. June 2016 Corporate Update – Athabasca Oil Corp – slide 10
    SCALABLE MONTNEY POSITION 10 o AOC operates with a 70% WI PRODUCTION PROFILE 14 Montney - Upside o Production potential Montney - Base 12 o 2017e 8,000 boe/d gross 10 5,500 boe/d net 8 mboe/d o 2020e 17,000 boe/d gross…
  11. June 2016 Corporate Update – Athabasca Oil Corp – slide 11
    DUVERNAY OVERVIEW
  12. June 2016 Corporate Update – Athabasca Oil Corp – slide 12
    12 THE DUVERNAY 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 o…
  13. June 2016 Corporate Update – Athabasca Oil Corp – slide 13
    KAYBOB DUVERNAY 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 KAYBOB 25,26…
  14. June 2016 Corporate Update – Athabasca Oil Corp – slide 14
    DUVERNAY RECENT OBJECTIVES 14 HIGHLIGHTS KAYBOB WEST WELL COSTS o 95% of acreage held into the intermediate term 20 Complete Drill o 2 well volatile oil proppant test o 40% uplift in initial production 15 D&C Costs (MM) o…
  15. June 2016 Corporate Update – Athabasca Oil Corp – slide 15
    FUNDED DUVERNAY DEVELOPMENT 15 o Development goals PRODUCTION PROFILE 12 Production o 1,500 gross well potential 10 o Achieve self funding post carry period 8 o Continue to drive cost efficiencies with mboe/d multi-well…
  16. June 2016 Corporate Update – Athabasca Oil Corp – slide 16
    HANGINGSTONE OVERVIEW
  17. June 2016 Corporate Update – Athabasca Oil Corp – slide 17
    17 HANGINGSTONE DEVELOPMENT OVERVIEW HANGINGSTONE PROJECT 1 (12,000 BBL/D) REGIONAL MAP o First steam at the end of Q1 2015 TCPL Natural Gas o Recent production 9,000 bbl/d Mainline o On track to achieve design by year-end…
  18. June 2016 Corporate Update – Athabasca Oil Corp – slide 18
    CASH FLOW TORQUE AT HANGINGSTONE 18 HIGHLIGHTS o US40-45/bbl WTI operating break-even o Not expected to drill infill wells for the initial 5 - 7 years PRODUCTION & FCF PROFILE 5 YR FREE CASH FLOW OUTLOOK 14 50 300 US70/bbl…
  19. June 2016 Corporate Update – Athabasca Oil Corp – slide 19
    SUPPLEMENTAL INFORMATION
  20. June 2016 Corporate Update – Athabasca Oil Corp – slide 20
    20 JOINT VENTURE MAP Greater Kaybob Assets AOC 30% WI in 200,000 Duvernay acres 1,450 boe/d net (April average) Greater Placid Assets AOC 70% WI in 60,000 Montney acres 2,500 boe/d net (April average)
  21. June 2016 Corporate Update – Athabasca Oil Corp – slide 21
    CONTROL OF STRATEGIC INFRASTRUCTURE 21 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…
  22. June 2016 Corporate Update – Athabasca Oil Corp – slide 22
    PLACID MONTNEY WELL SUMMARY 22 Well UWI Key Dates Drilling Summ Completions Summary Production** Spud On Prod. Spud - RR Lateral Stages Proppant Loading IP30*** Cum. Production To Date mmm-yy mmm-yy days m lb/ft boe/d % liquids…
  23. June 2016 Corporate Update – Athabasca Oil Corp – slide 23
    KAYBOB DUVERNAY ACTIVITY UPDATE 23 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…
  24. June 2016 Corporate Update – Athabasca Oil Corp – slide 24
    KAYBOB DUVERNAY WELL SUMMARY 24 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 m lb/ft boe/d %…
  25. June 2016 Corporate Update – Athabasca Oil Corp – slide 25
    25 DEBT AND CREDIT FACILITY OVERVIEW CREDIT FACILITIES CURRENT INTEREST RATE PRE-PAYMENT TERMS Cdn 45MM Senior Secured Credit Facility (April 2017 maturity) Undrawn 6% Pre-payable without penalty Cdn 110MM Cash Collateralized 110…
  26. June 2016 Corporate Update – Athabasca Oil Corp – slide 26
    ALBERTAS OIL SANDS 26 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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