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August 2019 Corporate Presentation – Athabasca Oil Corp

Athabasca Oil Corp · Aug 1, 2019 · 24 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. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 1
    ATHABASCA OIL CORPORATION FOCUSED EXECUTING DELIVERING AUGUST 2019 CORPORATE UPDATE
  2. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 2
    ATHABASCA PREMIER RESOURCE EXPOSURE LIGHT OIL 40,000 boe/d THERMAL OIL MONTNEY 87% liquids 600MM EV 425MM Liquidity HANGINGSTONE 90 year 2P RLI 450 MMboe Proved 1,280 MMboe 2P LIGHT OIL CORNER DUVERNAY LEISMER…
  3. August 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. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 4
    H1 2019 HIGHLIGHTS CONTINUED STRONG FINANCIAL PERFORMANCE 36,568 boe/d 89MM Funds Flow 86% liquids 30MM Free Cash Flow 425MM liquidity Strong Netbacks 59MM Capex (net) 28.70/boe Light Oil 2019e 2x D/CF 60 WTI 52% Thermal / 48%…
  5. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 5
    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…
  6. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 6
    ATHABASCA A RESILIENT BUSINESS PEER LEADING LIGHT OIL NETBACKS (Q1/19) COMPLEMENTARY ASSETS Q2/19 27.50 Q1/19 29.75 o Diversified operating income (35% LO & 65% TO) o Top decile Light Oil netbacks (27.50/boe Q2/19) o Competitive…
  7. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 7
    ATHABASCA DRIVE TO FREE CASH FLOW 60 PRODUCTION SUSTAINABLE PRODUCTION Thermal Oil Light Oil 50 Potential Growth o Thermal Oil underpins low corporate decline (10%) 40 mboe/d o Flexible operated liquids rich Montney 30 o…
  8. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 8
    2019 OUTLOOK CORPORATE 2019 FUNDS FLOW OUTLOOK o Capital: 135MM WTI (US) o Maintain production: 37,500 40,000 boe/d (88% liquids) 55 60 65 70 -15.00 150 165 185 205 WCS Diff (US) LIGHT OIL o Capital: 35MM net -17.50 140…
  9. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 9
    LIGHT OIL MONTNEY & DUVERNAY
  10. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 10
    PLACID MONTNEY PLACID ACTIVITY 16-30 Pad HIGHLIGHTS OPERATED 70%WI 7 DUCS 2-5 Pad to o 80,000 gross prospective acres spud H2/19 200 well development inventory1 23/boe 2019 operating netback (US60 WTI) 200 300 bbl/mmcf…
  11. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 11
    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…
  12. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 12
    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…
  13. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 13
    DUVERNAY COMPETITIVE SHALE PLAY UNIQUE EXPOSURE TO THE OIL WINDOW KAYBOB WEST & EAST OIL 16-25 (14-20-65-19W5) NORTHERN STEP-OUT KAYBOB WEST & EAST (24 WELLS) o Significant running room o 170,000 acres; 800 well inventory1 o…
  14. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 14
    THERMAL OIL LEISMER & HANGINGSTONE
  15. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 15
    THERMAL OIL ASSET OVERVIEW LEISMER TOP TIER OIL SANDS PROJECT REGIONAL MAP o 20,000 bbl/d; 3.5x SOR o 40,000 bbl/d AER approval Hangingstone o 675 mmbbl 2P reserves; 90 year 2P RLI o US43 WTI operating breakeven HANGINGSTONE…
  16. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 16
    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 Steam debottleneck Optimize…
  17. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 17
    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…
  18. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 18
    SUPPLEMENTAL INFORMATION
  19. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 19
    CORPORATE SNAPSHOT & HEDGING CAPITALIZATION OVERVIEW (ATH-TSX) Basic Shares Outstanding 523 MM Market Capitalization (0.70/sh) 366 MM Q2/19 Net Debt 240 MM Total Enterprise Value 607 MM Term Debt (9.875% due Feb 2022) US450…
  20. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 20
    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…
  21. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 21
    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…
  22. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 22
    ENDNOTES & RISK MANAGEMENT Slide Endnotes Multi-year outlook price assumptions: 2018 H1 2019 H2 2019 2019e 2020e WTI US/bbl 65.50 57.36 60.00 58.47 60.00 FX C/US 0.77 0.75 0.77 0.76 0.75 Heavy Diff US/bbl -26.31 -11.48 -17.50…
  23. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 23
    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…
  24. August 2019 Corporate Presentation – Athabasca Oil Corp – slide 24

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