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July 2019 Corporate Presentation – Athabasca Oil Corp

Athabasca Oil Corp · Jul 9, 2019 · 23 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. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 1
    ATHABASCA OIL CORPORATION FOCUSED EXECUTING DELIVERING JULY 2019 CORPORATE UPDATE
  2. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 2
    ATHABASCA PREMIER RESOURCE EXPOSURE LIGHT OIL 40,000 boe/d THERMAL OIL MONTNEY 87% liquids 650MM EV 400MM Liquidity HANGINGSTONE 90 year 2P RLI 450 MMboe Proved 1,280 MMboe 2P LIGHT OIL CORNER DUVERNAY LEISMER…
  3. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 3
    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…
  4. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 4
    CANADIAN OIL OUTLOOK CANADIAN LANDSCAPE WCSB CRUDE INVENTORIES & RAIL 80 o Failed regulatory system broken market in Q4/18 70 mmbbl o Government mandated curtailments worked 60 o Crude by rail remains a necessary bridge to…
  5. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 5
    ATHABASCA A RESILIENT BUSINESS PEER LEADING LIGHT OIL NETBACKS (Q1/19) COMPLEMENTARY ASSETS 29/boe o Diversified operating income (30% LO & 70% TO) o Industry leading Light Oil netbacks (29/boe) o Competitive Leismer operating…
  6. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 6
    ATHABASCA DRIVE TO FREE CASH FLOW PRODUCTION SUSTAINABLE PRODUCTION 6% CAGR o Thermal Oil underpins low corporate decline (10%) o Flexible operated liquids rich Montney o Funded development through Duvernay JV COMPELLING FREE…
  7. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 7
    2019 OUTLOOK CORPORATE 2019 FUNDS FLOW OUTLOOK o Minimal capital: 95 110MM 100MM FCF WTI (US) o Maintain production: 37,500 40,000 boe/d (88% liquids) 55 60 65 70 75 -15.00 155 185 225 255 280 WCS Diff (US) LIGHT OIL -17.50…
  8. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 8
    LIGHT OIL MONTNEY & DUVERNAY
  9. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 9
    PLACID MONTNEY HIGHLIGHTS OPERATED 70%WI PLACID ACTIVITY 16-30 Pad o 80,000 gross prospective acres 7 DUCS Future Pad 200 well development inventory1 22.50/boe 2019 operating netback (US65 WTI) 200 300 bbl/mmcf initial free…
  10. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 10
    PLACID MONTNEY STRONG ECONOMICS PRODUCTION PLOT INTERNAL TYPE WELL PARAMETERS Rate Sales Gas C5+ liquids boe/d mmcf/d bbl/d % IP30 1,000 2.6 501 57% IP90 875 2.4 421 55% IP365 600 1.8 262 49% mboe bcf mbbl % EUR 675 2.2 246…
  11. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 11
    KAYBOB DUVERNAY DUVERNAY HIGHLIGHTS JOINT VENTURE HIGHLIGHTS (30% WI) o Significant resource exposure (210,000 acres) o Cash/carry structure minimizes financial exposure o Strong condensate yields (200 1,000 bbl/mmcf) o 1B gross 4 yr…
  12. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 12
    DUVERNAY COMPETITIVE SHALE PLAY UNIQUE EXPOSURE TO THE OIL WINDOW VOLATILE OIL PRODUCTION PLOTS o Significant running room o 170,000 acres; 1,000+ well inventory1 o Transitioning to development in select areas o Achieved 8 9MM well…
  13. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 13
    THERMAL OIL LEISMER & HANGINGSTONE
  14. July 2019 Corporate 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. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 15
    THERMAL OIL LEISMER ACTIVITY HIGHLIGHTS o L7 sustaining pad 1,250m laterals (50% longer) and flow control equipped First steam in June with production expected in Q4/19 4,000 bbl/d peak pad production Expanding non-condensable…
  16. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 16
    CORPORATE RESPONSIBILITY SAFETY ENVIRONMENT Exemplary performance is key to Committed to innovation and business results and stakeholder needs sustainable development Total Recordable Injury Frequency (TRIF): Environmental…
  17. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 17
    SUPPLEMENTAL INFORMATION
  18. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 18
    CORPORATE SNAPSHOT & HEDGING CAPITALIZATION OVERVIEW (ATH-TSX) Basic Shares Outstanding 522 MM Market Capitalization (0.75/sh) 392 MM Q1/19 Net Debt 263 MM Total Enterprise Value 655 MM Term Debt (9.875% due Feb 2022) US450…
  19. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 19
    THERMAL OIL INFRASTRUCTURE Illustrative map not to scale 8 Diluent Line HANGINGSTONE CHEECHAM Tank Farms LEISMER 12 Dilbit Line 150mbbl Dilbit 40mbbl Dilbit 150mbbl Diluent 100mbbl Dilbit 6mbbl Diluent 10mbbl Diluent…
  20. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 20
    MANAGEMENT TEAM AND BOARD MANAGEMENT TEAM BOARD OF DIRECTORS Robert Broen, P.Eng. Ronald Eckhardt President & Chief Executive Officer Chair of the Board, member of the Reserves Committee Kim Anderson, CA Robert Broen, P.Eng. Chief…
  21. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 21
    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…
  22. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 22
    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…
  23. July 2019 Corporate Presentation – Athabasca Oil Corp – slide 23

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