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September 2016 Corporate Update – Athabasca Oil Corp

Athabasca Oil Corp · Sep 1, 2016 · 31 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 2016 Corporate Update – Athabasca Oil Corp – slide 1
    ATHABASCA OIL CORPORATION FOCUSED EXECUTING DELIVERING SEPTEMBER 2016 CORPORATE UPDATE
  2. September 2016 Corporate Update – Athabasca Oil Corp – slide 2
    2 ATHABASCA INVESTMENT HIGHLIGHTS 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 ASSETS Thermal…
  3. September 2016 Corporate Update – Athabasca Oil Corp – slide 3
    3 OUR PATH FORWARD DEFINED & MATERIAL LIGHT OIL GROWTH PRODUCTION 40 Montney o Scalable Montney position 35 Duvernay o Funded Duvernay development 30 Thermal 25 mboe/d 20 THERMAL LEVERAGE TO OIL PRICES 15 o Cash flow…
  4. September 2016 Corporate Update – Athabasca Oil Corp – slide 4
    4 EXECUTION TRACK RECORD PRODUCTION LIGHT OIL RESERVES 14 Thermal 70 Light Oil (Gas) 12 Light Oil (Liquids) 60 LIght Oil 2P Reserves (mmboe) Production (mboe/d) 10 50 8 40 6 30 4 20 10 2 0 0 2012 2013 2014…
  5. September 2016 Corporate Update – Athabasca Oil Corp – slide 5
    5 2016 GUIDANCE AND CAPITALIZATION 2016 GUIDANCE CAPITALIZATION (ATH-TSX) o CAPITAL Share Price (Sept. 8, 2016) 1.30 /sh Corporate 121MM (incl. 8MM cap. G&A) Basic shares outstanding 406 MM Market capitalization 525 MM Light Oil:…
  6. September 2016 Corporate Update – Athabasca Oil Corp – slide 6
    6 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…
  7. September 2016 Corporate Update – Athabasca Oil Corp – slide 7
    7 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…
  8. September 2016 Corporate Update – Athabasca Oil Corp – slide 8
    MONTNEY OVERVIEW
  9. September 2016 Corporate Update – Athabasca Oil Corp – slide 9
    9 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…
  10. September 2016 Corporate Update – Athabasca Oil Corp – slide 10
    10 PLACID MONTNEY TOP QUARTILE LAND ASSET HIGHLIGHTS (70% WI) PLACID MONTNEY R25 R24 R23 R22W5 o 25,000 acres o Prospectivity in two Montney cycles T61 T61 o 90 Montney C / 75 Montney D locations1 1 RECENT ACTIVITY 4 2 o 5…
  11. September 2016 Corporate Update – Athabasca Oil Corp – slide 11
    11 SCALABLE MONTNEY POSITION o AOC operates with a 70% WI PRODUCTION PROFILE (NET) 18 Montney - Upside o Production potential 16 Montney - Base o 2017e 10,000 boe/d gross 14 12 7,000 boe/d net 10 mboe/d 8 o 2020e 20,000…
  12. September 2016 Corporate Update – Athabasca Oil Corp – slide 12
    DUVERNAY OVERVIEW
  13. September 2016 Corporate Update – Athabasca Oil Corp – slide 13
    13 THE DUVERNAY A WORLD CLASS RESOURCE UNCONVENTIONAL PLAYS IN o Large in place resource NORTH AMERICA WORLD CLASS o High liquids yield: 100 -1,000 bbl/MMcf liquids RESOURCE o Initial results compare favorably to the Eagle Ford o…
  14. September 2016 Corporate Update – Athabasca Oil Corp – slide 14
    KAYBOB DUVERNAY LIQUIDS AND 14 OVERPRESSURE DRIVES ECONOMICS 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 Two…
  15. September 2016 Corporate Update – Athabasca Oil Corp – slide 15
    15 DUVERNAY RECENT OBJECTIVES 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…
  16. September 2016 Corporate Update – Athabasca Oil Corp – slide 16
    16 FUNDED DUVERNAY DEVELOPMENT o Development goals 10 PRODUCTION PROFILE (NET) 9 Production o 1,500 gross well potential 8 o Achieve self funding post carry period 7 6 o Continue to drive cost efficiencies with mboe/d…
  17. September 2016 Corporate Update – Athabasca Oil Corp – slide 17
    HANGINGSTONE OVERVIEW
  18. September 2016 Corporate Update – Athabasca Oil Corp – slide 18
    18 HANGINGSTONE DEVELOPMENT OVERVIEW HANGINGSTONE PROJECT 1 (12,000 BBL/D) REGIONAL MAP o First steam at the end of Q1 2015 TCPL Natural Gas Mainline o 18 24 mo. to reach design capacity post start-up o Stable production for 35…
  19. September 2016 Corporate Update – Athabasca Oil Corp – slide 19
    19 CASH FLOW TORQUE AT HANGINGSTONE HIGHLIGHTS o US45/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 40 300 US70/bbl -…
  20. September 2016 Corporate Update – Athabasca Oil Corp – slide 20
    SUPPLEMENTAL INFORMATION
  21. September 2016 Corporate Update – Athabasca Oil Corp – slide 21
    21 JOINT VENTURE MAP Greater Kaybob Assets AOC 30% WI in 200,000 Duvernay acres 1,300 boe/d net (June average) Greater Placid Assets AOC 70% WI in 60,000 Montney acres 2,200 boe/d net (June average)
  22. September 2016 Corporate Update – Athabasca Oil Corp – slide 22
    22 CONTROL OF STRATEGIC INFRASTRUCTURE R26 R24 R22 R20 R18 R16 R14W5 Total Battery Capacity (gross) Gas Pipeline (gross) T67 T67 Oil Capacity 36,000 bbl/d Up to Gas Capacity 180 MMcf/d 84 MMcf/d, Gas Capacity expandable to 130…
  23. September 2016 Corporate Update – Athabasca Oil Corp – slide 23
    23 PLACID MONTNEY WELL SUMMARY Well UWI Key Dates 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 bbl/mmcf* mboe %…
  24. September 2016 Corporate Update – Athabasca Oil Corp – slide 24
    24 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 Apache Chevron Conoco Encana Hitic Shell Talisman Trilogy XTO Other Trilogy Partial Apache Partial AOC Duvernay…
  25. September 2016 Corporate Update – Athabasca Oil Corp – slide 25
    25 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…
  26. September 2016 Corporate Update – Athabasca Oil Corp – slide 26
    KAYBOB DUVERNAY 26 JOINT DEVELOPMENT PLAN Joint development agreements for Kaybob Duvernay and Placid Montney available on SEDAR
  27. September 2016 Corporate Update – Athabasca Oil Corp – slide 27
    27 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…
  28. September 2016 Corporate Update – Athabasca Oil Corp – slide 28
    ALBERTAS OIL SANDS 28 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…
  29. September 2016 Corporate Update – Athabasca Oil Corp – slide 29
    29 MANAGEMENT TEAM AND BOARD MANAGEMENT TEAM BOARD OF DIRECTORS Rob Broen, P.Eng. Ronald Eckhardt President & Chief Executive Officer Chair and member of the Reserves Committee Kim Anderson, CA Rob Broen, P.Eng. Chief Financial…
  30. September 2016 Corporate Update – Athabasca Oil Corp – slide 30
    30 ENDNOTES Slide Endnotes 3 (1) GLJ price deck summary: Pricing (GLJ - AS OF Jul1 /16) 2016e 2017e 2018e 2019e 2020e WTI US/bbl 44.75 55.00 58.00 63.00 67.00 FX C/US 0.751 0.775 0.800 0.825 0.850 Condensate C/bbl 58.50 71.00…
  31. September 2016 Corporate Update – Athabasca Oil Corp – slide 31
    33 Corporate Office 1200, 215 - 9 Ave SW, Calgary, Alberta Telephone: 403-237-8227 Fax: 403-264-4640 www.atha.com

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