ATHABASCA OIL CORPORATION FOCUSED EXECUTING DELIVERING OCTOBER 2025
OUR VISION & STRATEGY LowDecline HighQuality SelfFunded Growth Pristine Balance Sheet Thermal Assets with 90 Year in HighQuality Kaybob with Net Cash Position Reserve Life Duvernay Oil Play DRIVING VALUE THROUGH PER SHARE…
ROBUST FREE CASH FLOW PROFILE BUSINESS OUTLOOK NET PRODUCTION (BOE/D)1 80,000 Leismer o Thermal Oil assets with low base decline Hangingstone Corner Leismer brownfield growth to 40,000 bbl/d by 2027 Duvernay Energy 15% CAGR…
THERMAL OIL ASSET OVERVIEW
THERMAL OIL DIVISION PREDICTABLE, LOW DECLINE HIGHLIGHTS THERMAL PROPERTIES (MCMURRAY FAIRWAY) Current Production Lewis 37,000 bbl/d 100% Working Interest 2025e Capital 250MM Expenditures AOC Hangingstone Long Lake 5year…
LEISMER BROWNFIELD GROWTH TOP TIER OIL SANDS PROJECT DEVELOPMENT MAP Pad 11S 6 well pairs (spud H2) o Long reserve life; 70 year current Reserve Life Index 694MMbbl 2P reserves; 468MMbbl Best Est. Contingent Resource 50 year 2P RLI…
LEISMER 40,000 BBL/D PROGRESSIVE EXPANSION SANCTION JULY 2024 HISTORICAL PRODUCTION & GROWTH OUTLOOK (BBL/D) 40,000 Project Cost 300MM Incremental Rate 12,000 bbl/d 30,000 Capital Efficiency 25,000/bbl 20,000 McDaniel 2P NPV10…
HANGINGSTONE CASH FLOW GENERATION DEVELOPMENT MAP PROJECT HIGHLIGHTS o Current production 8,800 bbl/d o Long reserve life; 50 year Reserve Life Index 163MMbbl 2P reserves; 959MM McDaniels 2P NPV10 o Improved SOR due to the field…
CORNER FUTURE GROWTH DEVELOPMENT MAP TOP TIER OIL SANDS PROJECT o Large derisked asset Regulatory approval for 40,000 bbl/d 351MMbbl 2P & 520MMbbl Contingent Resource (Best Est.) 304 delineation wells with 80% 3D seismic coverage…
DUVERNAY ENERGY CORPORATION
DUVERNAY ENERGY CORPORATE SNAPSHOT PRIVATE COMPANY DEC ASSETS o Athabasca operated; Cenovus 30% equity owner o Unparalleled exposure to Kaybob Duvernay oil window ASSET HIGHLIGHTS o 200,000 gross acres; 444 gross well locations…
DUVERNAY ENERGY KAYBOB ACTIVITY MAP DEC Oil AOC MUR JV CNRL Window Cygnet GMT Halo Hitic Liquids Rich Kiwetinohk Gas Window Logan Paramount PetroChina Whitecap Duvernay Hz Wells 2024 AOC 100% Duv. spuds DEC 30% JV…
DUVERNAY ENERGY DEVELOPMENT PLANS KAYBOB EAST ILLUSTRATIVE ECONOMICS 2025 ACTIVITY (75MM CAPITAL) 4,000M LATERAL & 1,500 LB/FT (US70 WTI) o 100% working interest operated activity 2WELL 4+ MULTI PAD WELL PAD Complete threewell pad…
APPENDIX
RESILIENT PRODUCER TO VOLATILITY ATHABASCAS UNIQUE POSITIONING PRISTINE BALANCE SHEET 133MM Credit Availability o Pristine Balance Sheet 0.5x Total Debt to Thermal 119MM Net Cash; 437MM Liquidity (incl. 304MM cash) Funds Flow US60…
Q2 2025 RESULTS Production Cash Flow Netbacks 39,088 boe/d (98% Liquids) 128MM Adjusted Funds Flow 40/bbl Thermal Op. Netback 2025e 37,500 39,500 boe/d 25/boe Duvernay Op. Netback 0.25/sh FFO (trending to high end of guidance)…
CAPITALIZATION & HEDGING LONGTERM DEBT CONSOLIDATED CAPITAL STRUCTURE o C200MM 2029 Unsecured Notes Issued August 2024; 5year term to 2029 6.75% coupon 3,250MM Market Cap STRONG LIQUIDITY (6.50/share) o AOC Liquidity of…
DIFFERENTIATED LONG-LIFE RESERVES 2024 RESERVE & RESOURCE OVERVIEW 2P RESERVES BY ASSET (MMBOE) o Deep resource inventory 73 1.3 billion boe 2P reserves; 90 year reserve life 351 1 billion bbl contingent resource o Significant…
MARKET ACCESS HIGHLIGHTS o Positive structural changes for Canadian heavy oil Alberta crude inventories near seasonal lows Trans Mountain Expansion (+590 mbbl/d) o Diversified longterm contracted market access (33% of expanded…
THERMAL OIL CROWN ROYALTY ADVANTAGE CROWN ROYALTY OVERVIEW o Royalty structure depends on whether a project is in prepayout or postpayout phase o Prepayout advantage designed to support the recovery of the initial investment OIL…
DUVERNAY ENERGY INFRASTRUCTURE INFRASTRUCTURE ADVANTAGE o Significant owned and operated infrastructure o Underutilized capacity with flexibility for future expansions o Oil infrastructure directly connected to the Pembina Peace…
MANAGEMENT TEAM o President and Chief Executive Officer since 2015; 12 Years at Athabasca Rob Broen, P.Eng. o Over 30 years of exploration and production experience including 18 years with Talisman Energy with roles as President &…
READER ADVISORY Forward Looking Statements This Presentation contains forwardlooking information that involves various risks, uncertainties and other factors. Within this Reader Advisory and Forward Looking Statements, references to…
READER ADVISORY CONTD Initial Production Rates Test Results and Initial Production Rates: The well test results and initial production rates provided herein should be considered to be preliminary, except as otherwise indicated. Test…
READER ADVISORY CONTD Sustaining Capital is managements assumption of the required capital to maintain the Companys production base. Net Cash is defined as the face value of term debt, plus accounts payable and accrued liabilities,…
Loading...
