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CORPORATE UPDATE – Athabasca Oil Corp

Athabasca Oil Corp · Nov 4, 2014 · 35 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. CORPORATE UPDATE – Athabasca Oil Corp – slide 1
    Corporate Update Duvernay Light Oil November 2014 Hangingstone Thermal Oil
  2. CORPORATE UPDATE – Athabasca Oil Corp – slide 2
    Value Proposition World Class Assets 1,000+ well inventory in the Duvernay shale play at Kaybob 80,000 bbl/d project potential at the Funding Hangingstone thermal asset Assets Significant long-term optionality within a diverse…
  3. CORPORATE UPDATE – Athabasca Oil Corp – slide 3
    How We Get There Guiding Principles Cash Flow Growth Balance Sheet Strength Accelerate near-term cash flow Capital and cost discipline Focus on returns Focus on core assets Delivering on Commitments Execution Excellence Set…
  4. CORPORATE UPDATE – Athabasca Oil Corp – slide 4
    Financial Highlights, 2014 Budget and Outlook Capitalization Highlights(1) Capital Expenditures / Funding in Place ( MM) 1,200 Stock exchange listing TSX 1000 Trading symbol ATH 800 675 600 52-week trading range 3.04 - 8.84 600…
  5. CORPORATE UPDATE – Athabasca Oil Corp – slide 5
    Focused on our Core Assets Light Oil: Kaybob Fort McMurray 291 million 2014 budget Four rigs active; 26 additional Duvernay wells by the end of 2015(1) Hangingstone Duvernay primary target; 200,000 acres with the potential for…
  6. CORPORATE UPDATE – Athabasca Oil Corp – slide 6
    Duvernay Kaybob frac operation drilling Duvernay Overview
  7. CORPORATE UPDATE – Athabasca Oil Corp – slide 7
    The Duvernay is a World Class Resource Select Select Unconventional Unconventional Plays Plays In In North America North America World Large in place resource Class High liquid content: 100 -1,000 bbl/MMcf free condensate…
  8. CORPORATE UPDATE – Athabasca Oil Corp – slide 8
    Industry Transitioning to Development AOC Drilling (4) AOC Drilled Duvernay (9) Licensed Duvernay (328) Drilled Duvernay (209) Athabasca Apache Chevron Hitic Shell Trilogy Shell Partial Farm In Xto Conoco Encana Talisman Other…
  9. CORPORATE UPDATE – Athabasca Oil Corp – slide 9
    Activity on the Upswing Industry transitioning to development Majors are accelerating activity from the appraisal Eagle Ford to development stage Forecasted 70% lift in spending Y/Y; 2015e 3.6 billion vs. 2014e 2.1 billion (RBC…
  10. CORPORATE UPDATE – Athabasca Oil Corp – slide 10
    Duvernay Activity Update 14-33 Currently Drilling Nabors 82 4-29 S/C/Hz. On stream: June 16, 2014 30 day IP (restricted) 615 boe/d (0.7 MMcf/d & 710 bbl/MMcf) 8-29 Hz. CTD 41 mboe, 72% liquids On stream: June 21, 2014 30 day IP…
  11. CORPORATE UPDATE – Athabasca Oil Corp – slide 11
    Liquids Yield is Driving Economics Pressure (1,000 psi) 0 5 10 15 0 AOC Industry Depth (1,000 ft) 5 08-18 01-07 10 4-32 Pad 02-34 06-10 01-25 0.44 0.6 0.7 0.8 0.9 15 Under-Pressured Over-Pressured 0 -…
  12. CORPORATE UPDATE – Athabasca Oil Corp – slide 12
    Improving Cost Trends Average Well Cost Drilling 18 Multi-well pads 16 Complete Cost Fit for purpose rigs Drill Cost 14 Wellbore design 12 Bit optimization Experience D+C Cost (MM) 10 8 6 Completions Multi-well…
  13. CORPORATE UPDATE – Athabasca Oil Corp – slide 13
    Current Duvernay Well Economics are Compelling(1) 02/2-34-62-20W5 Initial Free Liquids Economic Sensitivity(2) 2,000 350 30 1,800 Cumulative Production (mboe) 300 01-25-62-25W5 1,600 25 102/02-34 Payout Production…
  14. CORPORATE UPDATE – Athabasca Oil Corp – slide 14
    Defining the Duvernay Fairway Kaybob West Kaybob East Acreage: 52,000 ac Acreage: 113,000 ac Locations: 295 Locations: 640+ NPV/well: 10 17 MM NPV/well: 5 15 MM Saxon/Simonette Acreage: 53,000 ac Locations: 300 NPV/well: 13…
  15. CORPORATE UPDATE – Athabasca Oil Corp – slide 15
    Material Near-Term Growth Duvernay Projected Daily Production 70,000 7 Potential for production to exceed 60,000 6 50,000 boe/d in 5 years Production (boe/d) 50,000 5 Inventory of 1,000 wells Rig Count 40,000 4 Growth…
  16. CORPORATE UPDATE – Athabasca Oil Corp – slide 16
    AOC Controls 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…
  17. CORPORATE UPDATE – Athabasca Oil Corp – slide 17
    Hangingstone CPF Hangingstone Overview
  18. CORPORATE UPDATE – Athabasca Oil Corp – slide 18
    Hangingstone Development Resource Hangingstone Regional Development Map 225 MMbbl reserves(1) 782 MMbbl contingent resources(2) Fort McMurray Development Project HS1 12,000 bbl/d First Steam expected end Q1 2015 Project HS2A…
  19. CORPORATE UPDATE – Athabasca Oil Corp – slide 19
    Efficient Delivery of First Thermal Project 565 MM Cost Performance Incurred Remaining Spend Hangingstone Project 1(1) 532 MM 33 MM Progress 0% 100% Engineering Procurement Dilbit tanks September 2014 Construction…
  20. CORPORATE UPDATE – Athabasca Oil Corp – slide 20
    Drilling and Reservoir Results to Date Application of Industry Best Practices 5m of separation as per design One delineation well per SAGD pair High resolution 3D seismic Integrated workflow providing optimal reservoir planning…
  21. CORPORATE UPDATE – Athabasca Oil Corp – slide 21
    Development Profile Operations Cash Flow (MM/year) 140 14,000 Approved In Construction 120 12,000 Daily Production (bbl/d) 100 10,000 Hangingstone Project 1 80 8,000 12,000 bbl/d 12,000 bbl/d First steam end Q1 2015 60…
  22. CORPORATE UPDATE – Athabasca Oil Corp – slide 22
    Saxon Battery Future Growth
  23. CORPORATE UPDATE – Athabasca Oil Corp – slide 23
    Development and Exploration Opportunities Grosmont 418 MMbbl(1) (AOC interest) Apply recovery mechanisms being tested by industry Birch Slave Point Slave Point 2.1 Bbbl(1) 675,000 acre land position Validated oil production…
  24. CORPORATE UPDATE – Athabasca Oil Corp – slide 24
    Hangingstone Hangingstone CPF Project 1 Supplemental Information
  25. CORPORATE UPDATE – Athabasca Oil Corp – slide 25
    Long-term Debt and Credit Facility Overview As at Sept. 30, 2014 Undrawn Credit Facilities ( MM, Cdn) Interest Rate Pre-payment Terms Cdn 125 MM senior secured revolving credit facility due 2017 125 5% Pre-payable without penalty 2015…
  26. CORPORATE UPDATE – Athabasca Oil Corp – slide 26
    Duvernay 4-32 Pad Initial Production 77 day 8-29-64-20W5 69 day 4-29-64-20W5 soak period (on-strike orientation) soak period (north-south orientation) 2,000 4,000 2,000 4,000 TEST POST SOAK T POST SOAK E S 1,800 3,600 1,800 T…
  27. CORPORATE UPDATE – Athabasca Oil Corp – slide 27
    Duvernay 1-7 and 1-25 Initial Production 1-7-64-20W5 1-25-62-25W5 2,000 4,000 4,000 8,000 1,800 3,600 7,200 3,500 1,600 3,200 6,400 3,000 1,400 2,800 5,600 Rate (mcf/d, bbl/d) Rate (mcf/d, bbl/d) 2,500 Pressure…
  28. CORPORATE UPDATE – Athabasca Oil Corp – slide 28
    Completions are Key to Commercial Success Casing Bowl: 279 mm x 245 mm x 34.5 MPa 20,000 80 Production Normalized to Proppant Placed 18,000 72 16,000 64 Cumulative BOE per 100 Tons 102/02-34-62-20W5 Casing size 9 5/8 14,000…
  29. CORPORATE UPDATE – Athabasca Oil Corp – slide 29
    Montney Appraisal, Leading to Development Placid Montney Development Plan AOC Kaybob Region Montney Rights Simonette Placid Bigstone AOC Placid Type Curve 1,800 Initial condensate yield 100 bbl/MMcf Approximately one…
  30. CORPORATE UPDATE – Athabasca Oil Corp – slide 30
    Application of Proven Best Practices Delineation & seismic data Reservoir management Workflow integration Thermal Oil Development Lifecycle Experienced operations teams Lifecycle planning Construction execution best…
  31. CORPORATE UPDATE – Athabasca Oil Corp – slide 31
    Dover West Sands, Poised for Development Development 87 MMbbl probable reserves 2,766 MMbbl contingent resource(1) Dover West Processing facilities planned to be a Road duplication of Hangingstone design Infrastructure Dover…
  32. CORPORATE UPDATE – Athabasca Oil Corp – slide 32
    Dover West Carbonate: The Next Big Resource Play Opportunity Dover West TAGD Facility 16,800 MMbbl of bitumen in the Leduc place(1) in carbonate reef ( 100 meter net pay) Dover West Road 3,001 MMbbl contingent resource(2) based on…
  33. CORPORATE UPDATE – Athabasca Oil Corp – slide 33
    Management Team Thomas Buchanan, FCA Board of Directors President & Chief Executive Officer Over 30 years experience in the oil and natural gas sector, and Thomas Buchanan, FCA currently Chairman of Spyglass Resources Corp. Chairman,…
  34. CORPORATE UPDATE – Athabasca Oil Corp – slide 34
    Management Team Robert Bowie, MBA Anne Schenkenberger, B.Sc., LLB Vice-President, Corporate Development Vice-President, Legal & Corporate Secretary Joined Athabasca Oil Corporation in 2010 and is Vice- Joined Athabasca Oil Corporation…
  35. CORPORATE UPDATE – Athabasca Oil Corp – slide 35
    Corporate Office 2000, 250 6 Ave SW, Calgary, Alberta, T2P 3H7 Telephone: 403-237-8227 Fax: 403-264-4640 www.atha.com

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