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November 2016 Investor Presentation – Athabasca Oil Corp

Athabasca Oil Corp · Nov 11, 2016 · 33 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. November 2016 Investor Presentation – Athabasca Oil Corp – slide 1
    ATHABASCA OIL CORPORATION FOCUSED EXECUTING DELIVERING NOVEMBER 2016 CORPORATE UPDATE
  2. November 2016 Investor Presentation – 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. November 2016 Investor Presentation – Athabasca Oil Corp – slide 3
    3 OUR PATH FORWARD DEFINED & MATERIAL LIGHT OIL GROWTH PRODUCTION 40 Montney o Scalable Montney position Duvernay Thermal o Funded Duvernay development 30 mboe/d 20 THERMAL LEVERAGE TO OIL PRICES o Cash flow torque at…
  4. November 2016 Investor Presentation – Athabasca Oil Corp – slide 4
    4 EXECUTION TRACK RECORD PRODUCTION LIGHT OIL RESERVES 14 Thermal Light Oil (Gas) 70 12 Light Oil (Liquids) 60 LIght Oil 2P Reserves (mmboe) Production (mboe/d) 10 50 8 40 6 30 4 20 2 10 0 0 2012 2013 2014…
  5. November 2016 Investor Presentation – Athabasca Oil Corp – slide 5
    2016 GUIDANCE AND CAPITALIZATION 5 2016 GUIDANCE CAPITALIZATION (ATH-TSX) o CAPITAL Share Price (Nov. 8, 2016) 1.37 /sh Corporate 121MM (incl. 8MM cap. G&A) Basic shares outstanding 406 MM Light Oil: 102MM Market capitalization…
  6. November 2016 Investor Presentation – 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. November 2016 Investor Presentation – Athabasca Oil Corp – slide 7
    7 UPSIZED CONTINGENT BITUMEN ROYALTY SLIDING SCALE PRICING HIGHLIGHTS Hangingstone Other Thermal Realized Implied Realized Implied o Contingent bitumen royalty on thermal assets Royalty Royalty Bitumen Price WTI Bitumen Price WTI…
  8. November 2016 Investor Presentation – Athabasca Oil Corp – slide 8
    MONTNEY OVERVIEW
  9. November 2016 Investor Presentation – Athabasca Oil Corp – slide 9
    9 PLACID MONTNEY OVERVIEW HIGHLIGHTS ALBERTA & BC MONTNEY o 60,000 operated acres spanning Placid, Saxon and Simonette o 25,000 prospective acres at Placid o 150 200 development locations with egress in place1 o Robust economics…
  10. November 2016 Investor Presentation – Athabasca Oil Corp – slide 10
    PLACID MONTNEY GEOLOGY REVIEW 10 RESERVOIR CHARACTERISTICS 12-19-060-23W5 LOG o Two prospective cycles in the Lower Montney (C & D) o Average porosity of 6.5% (ranges from 4 12%) o Normally pressured to slightly over pressured o…
  11. November 2016 Investor Presentation – Athabasca Oil Corp – slide 11
    11 DRILLING AND COMPLETION PERFORMANCE HIGHLIGHTS RELATIVE DRILLING PERFORMANCE 0 RDS DEE o IP90s rates 2x higher than legacy wells TET VII POU CQE 1,000 NVA COP IP30s 805 boe/d (64% liquids) CNQ CIOC XOM ECA IP90s 686 boe/d…
  12. November 2016 Investor Presentation – Athabasca Oil Corp – slide 12
    ATTRACTIVE ECONOMICS IN THE CURRENT 12 PRICING ENVIRONMENT NEAR TERM ACTIVITY SUMMARY ACTIVITY MAP AOC Montney Producers AOC 2016/17 Winter Drills o H2 2016 activity (66MM net) Montney Producers T61 12 wells drilled 30MM 4 wells…
  13. November 2016 Investor Presentation – Athabasca Oil Corp – slide 13
    SCALABLE MONTNEY POSITION 13 DEVELOPMENT HIGHLIGHTS PRODUCTION PROFILE (NET) 18 Montney - Upside o AOC operates with a 70% WI 16 Montney - Base o Production potential 14 12 o 2017e 10,000 boe/d gross mboe/d 10 7,000 boe/d…
  14. November 2016 Investor Presentation – Athabasca Oil Corp – slide 14
    DUVERNAY OVERVIEW
  15. November 2016 Investor Presentation – Athabasca Oil Corp – slide 15
    15 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…
  16. November 2016 Investor Presentation – Athabasca Oil Corp – slide 16
    KAYBOB DUVERNAY LIQUIDS AND OVERPRESSURE DRIVES ECONOMICS 16 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…
  17. November 2016 Investor Presentation – Athabasca Oil Corp – slide 17
    DUVERNAY RECENT OBJECTIVES 17 2016 HIGHLIGHTS KAYBOB WEST WELL COSTS Complete o 2 well volatile oil proppant test 20 Drill o 40% uplift in production 15 o 758 boe/d IP30 (2,000 lbs/ft) D&C Costs (MM) 541 boe/d IP30 (1,100…
  18. November 2016 Investor Presentation – Athabasca Oil Corp – slide 18
    FUNDED DUVERNAY DEVELOPMENT 18 o Development goals 10 PRODUCTION PROFILE (NET) 9 Production o 1,500 gross well potential 8 o Achieve self funding post carry period 7 o Continue to drive cost efficiencies with multi- 6…
  19. November 2016 Investor Presentation – Athabasca Oil Corp – slide 19
    HANGINGSTONE OVERVIEW
  20. November 2016 Investor Presentation – Athabasca Oil Corp – slide 20
    HANGINGSTONE DEVELOPMENT & FINANCIAL 20 OVERVIEW REGIONAL MAP HANGINGSTONE PROJECT 1 (12,000 BBL/D) TCPL o First oil in August 2015 Natural Gas Mainline o Recent production 8,500 9,000 bbl/d HS1 IPL o Stable production for 35…
  21. November 2016 Investor Presentation – Athabasca Oil Corp – slide 21
    21 HANGINGSTONE RESERVOIR OVERVIEW o Reservoir model reflects continued vertical steam chamber growth o Pressure data supports that the reservoir is bounded o Temperature data supports that steam conditions are present in the lean…
  22. November 2016 Investor Presentation – Athabasca Oil Corp – slide 22
    Production (bbl/ d) Production (bbl/ d) 0 500 1,000 1,500 2,000 0 10,000 2,000 4,000 6,000 8,000 2015-04 2015-04 2015-06 2015-06 2015-08 2015-08 2015-10 2015-10 Oil Oil 2015-12 2015-12 2016-02 2016-02…
  23. November 2016 Investor Presentation – Athabasca Oil Corp – slide 23
    SUPPLEMENTAL INFORMATION
  24. November 2016 Investor Presentation – Athabasca Oil Corp – slide 24
    24 JOINT VENTURE MAP Greater Kaybob Assets AOC 30% WI in 200,000 Duvernay acres 1,200 boe/d net (Q3 2016) Greater Placid Assets AOC 70% WI in 60,000 Montney acres 1,818 boe/d net (Q3 2016)
  25. November 2016 Investor Presentation – Athabasca Oil Corp – slide 25
    CONTROL OF STRATEGIC INFRASTRUCTURE 25 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…
  26. November 2016 Investor Presentation – Athabasca Oil Corp – slide 26
    PLACID MONTNEY WELL SUMMARY 26 Well UWI Key Dates Drilling Summa 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 %…
  27. November 2016 Investor Presentation – Athabasca Oil Corp – slide 27
    KAYBOB DUVERNAY ACTIVITY UPDATE 27 Apache Chevron Conoco Encana Hitic Repsol Shell Trilogy XTO Other Apache Partial AOC Duvernay Land AOC Existing Wells (26) Licensed Duvernay (600) Drilled/Spud Duvernay (400)
  28. November 2016 Investor Presentation – Athabasca Oil Corp – slide 28
    KAYBOB DUVERNAY WELL SUMMARY 28 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/…
  29. November 2016 Investor Presentation – Athabasca Oil Corp – slide 29
    KAYBOB DUVERNAY 29 JOINT DEVELOPMENT PLAN Joint development agreements for Kaybob Duvernay and Placid Montney available on SEDAR
  30. November 2016 Investor Presentation – Athabasca Oil Corp – slide 30
    ALBERTAS OIL SANDS 30 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…
  31. November 2016 Investor Presentation – Athabasca Oil Corp – slide 31
    31 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…
  32. November 2016 Investor Presentation – Athabasca Oil Corp – slide 32
    32 ENDNOTES Slide Endnotes 3 (1) GLJ price deck summary: Pricing (GLJ - AS OF Oct 1 /16) 2016e 2017e 2018e 2019e 2020e WTI US/bbl 42.25 54.00 58.00 63.00 67.00 FX C/US 0.755 0.775 0.800 0.825 0.850 Condensate C/bbl 54.50 68.75…
  33. November 2016 Investor Presentation – Athabasca Oil Corp – slide 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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