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May 2019 AGMP Presentation – Athabasca Oil Corp

Athabasca Oil Corp · May 9, 2019 · 19 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. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 1
    ATHABASCA OIL CORPORATION FOCUSED EXECUTING DELIVERING 2019 ANNUAL GENERAL MEETING MAY 9, 2019
  2. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 2
    ATHABASCA PREMIER RESOURCE EXPOSURE LIGHT OIL 40,000 boe/d THERMAL OIL MONTNEY 87% liquids 800MM EV 400MM Liquidity HANGINGSTONE 90 year 2P RLI 450 MMboe Proved 1,280 MMboe 2P LIGHT OIL CORNER DUVERNAY LEISMER…
  3. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 3
    GLOBAL OIL OUTLOOK GLOBAL OIL SUPPLY & DEMAND HIGHLIGHTS o Demand trends remain strong o Surpassed 100 mmbbl/d in 2019 o China and India comprise 55% of growth o Supply has kept pace but risks are emerging o Global events…
  4. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 4
    CANADIAN OIL OUTLOOK CANADIAN LANDSCAPE RAIL & PIPELINE EXPORT CAPACITY Forecast o Failed regulatory system broken market in Q4/18 Historic Keystone XL o Government mandated curtailments worked Trans Mountain Line 3…
  5. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 5
    ATHABASCA THE TRANSFORMATION 400MM Light Oil 265MM Contingent surpasses infrastructure 10,000 boe/d Bitumen sale Low risk Royalty Resource development appraisal Positive 2015 2016 2017 2018 2019 Funding FCF outlook not…
  6. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 6
    ATHABASCA A RESILIENT BUSINESS PEER LEADING LIGHT OIL NETBACKS (2018) Q1/19 COMPLEMENTARY ASSETS 29.67 o Diversified operating income (30% LO & 70% TO) o Industry leading Light Oil netbacks (29/boe) o Competitive Leismer operating…
  7. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 7
    ATHABASCA DRIVE TO FREE CASH FLOW PRODUCTION 6% CAGR SUSTAINABLE PRODUCTION o Thermal Oil underpins low corporate decline (10%) o Flexible operated liquids rich Montney o Funded development through Duvernay JV C CAPITAL…
  8. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 8
    Q1 2019 HIGHLIGHTS STRONG OPERATIONAL AND FINANCIAL RESULTS 39,206 boe/d 32MM Capex (net) 86% liquids 45% Thermal / 55% Light Oil 400MM liquidity Strong Netbacks 42MM Funds Flow 29.67/boe Light Oil 2019e 1.2x D/CF 18.50/bbl…
  9. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 9
    2019 OUTLOOK CORPORATE 2019 FUNDS FLOW OUTLOOK 100MM o Minimal capital: 95 110MM WTI (US) FCF o Maintain production: 37,500 40,000 boe/d (88% liquids) 55 60 65 70 75 -15.00 155 185 225 255 280 LIGHT OIL -17.50 135 165 205 240…
  10. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 10
    LIGHT OIL MONTNEY & DUVERNAY
  11. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 11
    PLACID MONTNEY HIGHLIGHTS OPERATED 70%WI PLACID ACTIVITY 16-30 Pad o 80,000 gross prospective acres 7 DUCS Future Pad 200 well development inventory o 22.50/boe 2019 operating netback (US65 WTI) 200 300 bbl/mmcf initial free…
  12. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 12
    KAYBOB DUVERNAY JOINT VENTURE HIGHLIGHTS (30% WI) o Cash/carry structure minimizes financial exposure o 2019 activity 1B gross investment; 75MM net to retain 30%WI 280MM gross (20MM net) o Significant resource exposure 18 spuds o…
  13. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 13
    THERMAL OIL LEISMER & HANGINGSTONE
  14. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 14
    THERMAL OIL ASSET OVERVIEW LEISMER TOP TIER OIL SANDS PROJECT REGIONAL MAP o 20,000 bbl/d; 3.5x SOR Hangingstone o 40,000 bbl/d AER approval o 675 mmbbl 2P reserves; 90 year 2P RLI o US43 WTI operating breakeven HANGINGSTONE…
  15. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 15
    THERMAL OIL LEISMER ACTIVITY PAD 7 SUSTAINING PAD o Rig released 5 well-pairs in February 1,250m laterals (50% longer) and flow control equipped o Production anticipated Q4/19 Steaming to commence this summer 4,000 4,500 bbl/d…
  16. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 16
    CORPORATE RESPONSIBILITY HIGHLIGHTS SAFETY ENVIRONMENT Exemplary performance is key to Committed to innovation and business results and stakeholder needs sustainable development Total Recordable Injury Frequency (TRIF):…
  17. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 17
    THE WORLD NEEDS MORE CANADIAN ENERGY o Energy education gaining momentum across the country o The World Needs Canadas Energy o World Demand estimated to grow by 27% by 2040 (source: EIA) o ALL forms of energy needed including…
  18. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 18
    ENDNOTES & RISK MANAGEMENT Slide Endnotes Multi-year outlook price assumptions: 2018 Q1 2019 Q2-Q4 2019 2019e 2020e WTI US/bbl 65.50 54.90 65.00 62.48 60.00 FX C/US 0.77 0.75 0.75 0.75 0.75 Heavy Diff US/bbl -26.31 -12.29 -17.50…
  19. May 2019 AGMP Presentation – Athabasca Oil Corp – slide 19

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