Skip to main content May 2021 Annual Meeting – Athabasca Oil Corp Investor Presentation | Shale Experts
Loading...
Pm

May 2021 Annual Meeting – Athabasca Oil Corp

Athabasca Oil Corp · May 5, 2021 · 30 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 2021 Annual Meeting – Athabasca Oil Corp – slide 1
    ATHABASCA OIL CORPORATION FOCUSED EXECUTING DELIVERING ANNUAL GENERAL MEETING (MAY 5, 2021)
  2. May 2021 Annual Meeting – Athabasca Oil Corp – slide 2
    PREMIER RESOURCE EXPOSURE LIGHT OIL 34,000 boe/d THERMAL OIL MONTNEY 90% liquids 800MM EV 141MM Cash HANGINGSTONE 90 year 2P RLI 1,150 MMboe 2P 400 MMboe Proved LIGHT OIL CORNER DUVERNAY LEISMER ATHABASCA OIL…
  3. May 2021 Annual Meeting – Athabasca Oil Corp – slide 3
    Q1 2021 HIGHLIGHTS 34,401 boe/d 66MM Operating Income 89% liquids 19MM Adjusted Funds Flow 141MM Cash Operating Netback 36MM Capex 31/boe Light Oil Unrestricted 97% Thermal Oil 21/bbl Leismer ATHABASCA OIL (TSX:ATH)…
  4. May 2021 Annual Meeting – Athabasca Oil Corp – slide 4
    THE TRANSFORMATION 486MM Resumption Refinance 470MM 265MM Light Oil JV of PreCOVID 2L Notes Contingent Infrastructure with Business (to be Bitumen Sale completed) Murphy Oil Plan Royalties Resource FCF Generation Appraisal…
  5. May 2021 Annual Meeting – Athabasca Oil Corp – slide 5
    BUSINESS ENVIRONMENT & COVID-19 IMPACT SUPPLY/DEMAND OUTLOOK COVID19 IMPACT 105 o Q1/20 COVID19 pandemic; material disruption to global economy 100 o Athabasca well positioned for the post COVID recovery 95 mmbbl/d GLOBAL…
  6. May 2021 Annual Meeting – Athabasca Oil Corp – slide 6
    BALANCE SHEET & REFINANCING OBJECTIVES EBITDA (MM) & LEVERAGE SENSITIVITY FINANCIAL SNAPSHOT (Q1 2021) 400 4.0x o 141MM unrestricted cash 350 o 135MM restricted cash secures longterm transportation LCs 300 3.0x o 38MM RBL facility…
  7. May 2021 Annual Meeting – Athabasca Oil Corp – slide 7
    LEISMER OVERVIEW LEISMER CENTRAL PROCESSING FACILITY ASSET OVERVIEW o Located 100 km south of Fort McMurray o Central Processing Facility (CPF); approved capacity of 40,000 bbl/d o On site lodge with 500 person capacity; owned…
  8. May 2021 Annual Meeting – Athabasca Oil Corp – slide 8
    LEISMER SUSTAINING PROJECTS PAD L8 HIGH QUALITY RESERVOIR NEARTERM INFILL WELLS o Pad L7 sustaining well pair; first oil in July o Two Pad L6 infills; commence steaming May & first oil July PAD L8 PROJECT o D&C ongoing; 5…
  9. May 2021 Annual Meeting – Athabasca Oil Corp – slide 9
    LEISMER IMPROVEMENTS TECHNOLOGY DRIVING RATES (BBL/D) LOWER WELL PAIR COSTS (MM) 1,200 25 Avg. Facilities Cost Pad 16 Avg. Completion Cost 1,000 Pad 7 Avg. Drilling Cost 20 800 15 600 10 400 Achieved through longer…
  10. May 2021 Annual Meeting – Athabasca Oil Corp – slide 10
    HANGINGSTONE OVERVIEW ASSET HIGHLIGHTS DEVELOPMENT MAP o Located 20 km south of Fort McMurray o Central Processing Facility (CPF); approved capacity of 12,000 bbl/d o No camp; proximal to Fort McMurray SUBSURFACE DATA & WELLS o…
  11. May 2021 Annual Meeting – Athabasca Oil Corp – slide 11
    HANGINGSTONE RECENT INITIATIVES STRONG RESERVOIR RESPONSE REDUCING NONENERGY OPEX (/BBL) 25 o Excellent facility runtime following Summer 2020 turnaround o Current production 9,500 bbl/d (April) 20 75% reduction to Q1/21…
  12. May 2021 Annual Meeting – Athabasca Oil Corp – slide 12
    LIGHT OIL PORTFOLIO PLACID MONTNEY 70% WORKING INTEREST AOC LIGHT OIL PROPERTIES o 80,000 gross acres; 150 gross future locations o Q1 production 4,600 boe/d (43% liquids) o 29/boe operating netback (March 2021) o Declines…
  13. May 2021 Annual Meeting – Athabasca Oil Corp – slide 13
    LIGHT OIL IMPROVEMENTS INDUSTRY LEADING NETBACK (Q4/20) 25 Liquids Weighted Netback (40% liquids) High Liquids % Gas Weighted Netback (60% gas) High Quality Product 20 Costs (Operating, Transportation, Royalties) Low Lifting…
  14. May 2021 Annual Meeting – Athabasca Oil Corp – slide 14
    ESG INAUGURAL 2021 REPORT We believe that the responsible energy we produce here in Alberta makes peoples lives better. Our inaugural ESG report is an opportunity for us to showcase the positive impacts we have made and explain…
  15. May 2021 Annual Meeting – Athabasca Oil Corp – slide 15
    ESG 2020 HIGHLIGHTS Athabasca has a longstanding history of consistently measuring, tracking and reporting on ESG metrics NET GHG EMISSIONS INTENSITY WATER RECYCLE RATIO 0.08 20% Reduction 95% 90% 0.07 tonnes Co2e/boe…
  16. May 2021 Annual Meeting – Athabasca Oil Corp – slide 16
    ESG COMMITMENT TO RESPONSIBILITY GOALS o Reduce emission intensity by 30% (2015 2025) o Top tier safety results…
  17. May 2021 Annual Meeting – Athabasca Oil Corp – slide 17
    ATHABASCA VALUE PROPOSITION & STRATEGY Low Decline High Margin Unparalleled Torque to Strong Financial Thermal Oil Light Oil Oil Prices Capacity to…
  18. May 2021 Annual Meeting – Athabasca Oil Corp – slide 18
  19. May 2021 Annual Meeting – Athabasca Oil Corp – slide 19
    APPENDIX
  20. May 2021 Annual Meeting – Athabasca Oil Corp – slide 20
    MANAGEMENT TEAM o Joined Athabasca in 2012 as Senior Vice President Light Oil. Promoted to Chief Operating Officer in 2013 and President and Chief Executive Officer in 2015 o 30 years of exploration and production experience…
  21. May 2021 Annual Meeting – Athabasca Oil Corp – slide 21
    CAPITALIZATION & HEDGING WTI HEDGES (BBL/D; US/BBL) 25,000 Swaps Sold Calls Collars 3Ways 20,000 62.50 62.50 15,000 39.90/45.63 CAPITALIZATION OVERVIEW (ATHTSX) 10,000 55.00 55.90 55.90 Basic Shares Outstanding 531 MM…
  22. May 2021 Annual Meeting – Athabasca Oil Corp – slide 22
    ESG ENVIRONMENTAL HIGHLIGHTS NET GHG EMISSIONS INTENSITY GREEN HOUSE GAS EMISSIONS 0.08 o Tracking our performance and setting targets 20% Reduction o 20% reduction in emission intensity since 2015 0.07 tonnes Co2e/boe o 30%…
  23. May 2021 Annual Meeting – Athabasca Oil Corp – slide 23
    ESG SOCIAL & GOVERNANCE HIGHLIGHTS MEANINGFUL SOCIAL IMPACT STRONG GOVERNANCE IS CORE TO OUR BUSINESS o Accountability for ensuring a safe working environment o Independent Board oversight for longterm strategy o 2020 0.1 TRIF, no…
  24. May 2021 Annual Meeting – Athabasca Oil Corp – slide 24
    MARKET EGRESS THERMAL OIL EGRESS LONG TERM EGRESS SECURED Current Egress o 7,200 bbl/d on Keystone LT Egress AOC Thermal o 20,000 bbl/d on TMX Expansion Leases CANADIAN PIPELINES UNDER CONSTRUCTION o Trans Mountain Expansion…
  25. May 2021 Annual Meeting – Athabasca Oil Corp – slide 25
    ENDNOTES Slide Endnotes 1 (1) 2021 guidance product breakdown provided below: Product 2021 Production Split Bitumen 78% Natural Gas* 10% Condensate NGLs 4% Other NGLs 2% Oil** 6% * comprised of 99% or greater of shale gas, with…
  26. May 2021 Annual Meeting – Athabasca Oil Corp – slide 26
    ENDNOTES Slide Endnotes 3 (1) Historical annual and 2021e Corporate volumes by product are provided below: Product 2016 2017 2018 2019 2020 Product 2021 Production Split Bitumen bbl/d 7,384 27,900 27,900 26,058 22,745 Bitumen 78%…
  27. May 2021 Annual Meeting – Athabasca Oil Corp – slide 27
    ENDNOTES Slide Endnotes 610 (1) Leismer reserve life index calculated on 694 mmbbl 2P reserves and 20,000 bbl/d production. Please see reader advisory Additional Oil and Gas Information for more information (2) For additional…
  28. May 2021 Annual Meeting – Athabasca Oil Corp – slide 28
    READER ADVISORY Forward Looking Statements This Presentation contains forwardlooking information that involves various risks, uncertainties and other factors. All information other than statements of historical fact is forwardlooking…
  29. May 2021 Annual Meeting – Athabasca Oil Corp – slide 29
    READER ADVISORY CONTD Additional Oil and Gas Information: Other Oil and Gas terms: This presentation contains certain other oil and gas metrics, including D&C (drilling and completion costs), F&D, steam oil ratio (or SOR), reserves…
  30. May 2021 Annual Meeting – Athabasca Oil Corp – slide 30
    READER ADVISORY CONTD NonGAAP Financial Measures and Production Disclosure Contd Net Debt is defined as face value of term debt plus accounts payable and accrued liabilities plus current portion of provisions and other liabilities less…

From the store

Browse maps, data & reports in the Shale Experts store