ATHABASCA 2019 RESERVE HIGHLIGHTS RESERVE OVERVIEW 2P RESERVES BY ASSET (MMBOE) o 1 billion bbl of high quality 2P reserves at Leismer/Corner 177 o Compelling Net Asset Value (NPV 10 BT) PDP: 1.58/share 695 TP: 4.92/share…
ATHABASCA DRIVE TO FREE CASH FLOW 60 PRODUCTION SUSTAINABLE PRODUCTION 50 Thermal Oil Light Oil 40 o Low corporate sustaining capital mboe/d 30 2020: 125MM* (10/boe) 20 o Flexible Light Oil development 10 0 Operated…
CANADIAN HEAVY OIL OUTLOOK WCSB BASIN EGRESS CURRENT LANDSCAPE o Government mandated curtailments and crude by rail remain a necessary bridge to pipelines MIDTERM EGRESS +800MBBL/D o Pipeline optimizations (Mainline, Keystone…
THERMAL OIL MARKET ACCESS & RISK MGMT THERMAL OIL EGRESS HEDGING Current Egress LT Egress o 2020 financial hedges (March December) AOC Thermal WTI: 12,500 bbl/d at US55 Leases WCS diff: 14,500 bbl/d at US18.25 o 2020…
LIGHT OIL MONTNEY & DUVERNAY
PLACID MONTNEY PLACID ACTIVITY 1630 Pad HIGHLIGHTS OPERATED 70%WI 6 wells 25 Pad o 80,000 gross prospective acres 4 wells 200 well development inventory1 22/boe operating netback (2019) 200 300 bbl/mmcf initial free liquids…
KAYBOB DUVERNAY DUVERNAY HIGHLIGHTS JOINT VENTURE HIGHLIGHTS (30% WI) o Significant resource exposure (220,000 acres) o 1B gross initial investment; 75MM net to retain 30%WI o Strong condensate yields (200 1,000 bbl/mmcf) o 2020…
DUVERNAY COMPETITIVE SHALE PLAY UNIQUE EXPOSURE TO THE OIL WINDOW KAYBOB WEST & EAST OIL o Significant running room 700 remaining locations across the play o Transitioning to development in select areas 1625 NORTHERN STEPOUT…
THERMAL OIL LEISMER & HANGINGSTONE
THERMAL OIL 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 695 mmbbl 2P reserves; 95 year 2P RLI o US44 WTI operating breakeven (2020e) HANGINGSTONE LOW…
THERMAL OIL LEISMER ACTIVITY HIGHLIGHTS o L7 sustaining pad LEISMER DEVELOPMENT 1,250m laterals (50% longer); flow control equipped Onstream in Q4/19 o L8 sustaining pad PAD 8N Drilled 4 observation wells Q1/20 PAD 8S…
CANADA ENERGY MAKES A GLOBAL DIFFERENCE
CANADIAN ENERGY MAKES A GLOBAL DIFFERENCE THE WORLD NEEDS CANADAS ENERGY WORLD ENERGY MIX (2016 2040) o Energy Demand to grow by 27% by 2040 o ALL forms of energy are needed CANADA IS A GLOBAL LEADER IN INNOVATION & ENVIRONMENTAL…
CORPORATE RESPONSIBILITY We believe that strong performance in health, safety, and environment is essential to achieving our business goals and meeting the needs of stakeholders. We are focused on being a valued partner in local…
CORPORATE RESPONSIBILITY ENVIRONMENT CORPORATE EMISSIONS INTENSITY GLOBAL EMISSIONS WATER RECYCLING RATES (2018) LIABILITY MANAGEMENT RATING 94% of Thermal Oil reservoir water recycled for steam generation Alberta…
CORPORATE RESPONSIBILITY SOCIAL SAFETY BENCHMARKING (2018) SAFETY 1.8 o 2018 Total Recordable Injury Frequency: 0.36 AOC has a strong track 1.6 record of safe operations o Exemplary safety performance key to business results and…
CORPORATE RESPONSIBILITY GOVERNANCE GOVERNANCE OVERVIEW o AOCs Board is responsible for the stewardship of the Independent Board and Chair (5 of 7) Company and provides independent and effective leadership o Some key areas of…
SUPPLEMENTAL INFORMATION
CORPORATE SNAPSHOT & HEDGING CAPITALIZATION OVERVIEW (ATHTSX) Basic Shares Outstanding 523 MM Market Capitalization (0.35/sh) 188 MM Q4/19 Net Debt 308 MM Total Enterprise Value 496 MM Term Debt (9.875% due Feb 2022) US450…
ATHABASCA 2020 BUDGET CORPORATE o Production: 36,000 37,500 boe/d (88% liquids) o Capital: 125MM E&D (+9MM capitalized G&A) THERMAL OIL o Production: 26,000 27,000 bbl/d o Capital: 65MM o Major projects: Pad L8 long leads,…
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 Matt Taylor, CFA Robert Broen, P.Eng. Chief…
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