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September 2014 Corporate Update – Athabasca Oil Corp

Athabasca Oil Corp · Sep 8, 2014 · 34 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. September 2014 Corporate Update – Athabasca Oil Corp – slide 1
    Corporate Update Light Oil - Kaybob September 2014 Thermal Oil - Hangingstone
  2. September 2014 Corporate Update – Athabasca Oil Corp – slide 2
    Value Proposition World Class Assets 1,000+ well inventory in the Duvernay shale play at Kaybob 80,000 bbls/d project potential at the Funding Hangingstone thermal asset Assets Significant long-term optionality within a diverse…
  3. September 2014 Corporate Update – Athabasca Oil Corp – slide 3
    How We Get There Guiding Principles Cash Flow Growth Balance Sheet Strength Accelerate near-term cash flow Capital and cost discipline Focus on returns Focus on core assets Delivering on Commitments Execution Excellence Set…
  4. September 2014 Corporate Update – Athabasca Oil Corp – slide 4
    Focused on our Core Assets Light Oil: Kaybob Fort 291 million 2014 budget McMurray Four rigs active; 26 additional Duvernay wells by the end of 2015 Duvernay primary target; 200,000 acres high-graded/1,000+ wells Hangingstone…
  5. September 2014 Corporate Update – Athabasca Oil Corp – slide 5
    Financial Highlights, 2014 Budget and Outlook Capitalization Highlights(1) Capital Expenditures / Funding in Place ( MM) 1,200 Stock exchange listing TSX 1000 Trading symbol ATH 800 675 600 52-week trading range 5.47- 8.84 /sh…
  6. September 2014 Corporate Update – Athabasca Oil Corp – slide 6
    Kaybob drilling operation Duvernay Overview
  7. September 2014 Corporate Update – Athabasca Oil Corp – slide 7
    The Duvernay is a World Class Resource Select Select Unconventional Unconventional Plays Plays In In Large in place resource North America North America World High liquid content: 100 -1,000 bbls/mmcf free Class condensate…
  8. September 2014 Corporate Update – Athabasca Oil Corp – slide 8
    Industry Transitioning to Development AOC Drilled Duvernay (9) Licensed Duvernay (308) Drilled Duvernay (195) Athabasca Apache Chevron Hitic Shell Trilogy Shell Partial *As of August 28, 2014 Farm In Xto Conoco Encana Talisman…
  9. September 2014 Corporate Update – Athabasca Oil Corp – slide 9
    Activity on the Upswing Industry transitioning to development Majors are accelerating activity from the appraisal Eagle Ford to development stage Forecasted 70% lift in spending Y/Y; 2015e 3.6 B vs. 2014e 2.1 B (RBC Rundle)…
  10. September 2014 Corporate Update – Athabasca Oil Corp – slide 10
    Duvernay Activity Update 4-29 S/C/Hz. On stream: June 16, 2014 8-29 Hz. 30 day IP (restricted) 615 boe/d On stream: June 21, 2014 (0.7 mmcf/d & 710 bbls/mmcf) 30 day IP (restricted) 784 boe/d 13-23 Vert./C CTD 34 mboe, 74% liquids…
  11. September 2014 Corporate Update – Athabasca Oil Corp – slide 11
    Duvernay 4-32 Pad Production 77 day 8-29-64-20W5 69 day 4-29-64-20W5 soak period (on-strike orientation) soak period (north-south orientation) 2,000 4,000 2,000 4,000 TEST POST SOAK T POST SOAK E S 1,800 3,600 1,800 T 3,600…
  12. September 2014 Corporate Update – Athabasca Oil Corp – slide 12
    Duvernay 1-7 and 1-25 Production 1-7-64-20W5 1-25-62-25W5 2,000 4,000 4,000 8,000 1,800 3,600 7,200 3,500 1,600 3,200 6,400 3,000 1,400 2,800 5,600 Rate (mcf/d, bbls/d) Rate (mcf/d, bbls/d) 2,500 Pressure (psi)…
  13. September 2014 Corporate Update – Athabasca Oil Corp – slide 13
    Liquids Yield is Driving Economics Pressure (1,000 psi) 0 5 10 15 0 AOC Industry Depth (1,000 ft) 5 08-18 01-07 10 4-32 Pad 02-34 06-10 01-25 0.44 0.6 0.7 0.8 0.9 15 Under-Pressured Over-Pressured 0 -…
  14. September 2014 Corporate Update – Athabasca Oil Corp – slide 14
    Improving Cost Trends Average Well Cost Drilling Multi-well pads Complete Cost Fit for purpose rigs Drill Cost 20 Wellbore design Bit optimization Experience 15 D+C Cost (MM) 10 Completions Multi-well pads Frac fluid…
  15. September 2014 Corporate Update – Athabasca Oil Corp – slide 15
    Current Duvernay Well Economics are Compelling(1) 02/2-34-62-20W5 Initial Free Liquids Economic Sensitivity(2) 2,000 350 30 1,800 300 Cumulative Production (mboe) 25 01-25-62-25W5 1,600 102/02-34 Payout 250 Production…
  16. September 2014 Corporate Update – Athabasca Oil Corp – slide 16
    Defining the Duvernay Fairway Kaybob West Kaybob East Acreage 52,000 ac Acreage 113,000 ac Locations 295 Locations 640+ NPV/well 10 17 MM NPV/well 5 15 MM Saxon/Simonette Acreage 53,000 ac Locations 300 NPV/well 13 20…
  17. September 2014 Corporate Update – Athabasca Oil Corp – slide 17
    Material Near-Term Growth Duvernay Projected Daily Production 70,000 7 Potential for production to exceed 60,000 6 50,000 boe/d in 5 years Production (boe/d) 50,000 5 Inventory of 1,000 wells Rig Count 40,000 4 Growth…
  18. September 2014 Corporate Update – Athabasca Oil Corp – slide 18
    AOC Controls Strategic Infrastructure Total Battery Capacity Gas Pipeline Oil Capacity 36,000 bbls/d Up to Gas Capacity 84 mmcf/d, 180 mmcf/d Gas Capacity expandable to 130 mmcf/d Kaybob East AOC 91 km Pipeline Fort…
  19. September 2014 Corporate Update – Athabasca Oil Corp – slide 19
    Hangingstone CPF Hangingstone Overview
  20. September 2014 Corporate Update – Athabasca Oil Corp – slide 20
    Hangingstone Development Resource Hangingstone Regional Development Map 225 MMbbls reserves(1) 782 MMbbls contingent resources(2) Fort McMurray Development Project HS1 12,000 bbls/d First Steam expected end Q1 2015 Project HS2A…
  21. September 2014 Corporate Update – Athabasca Oil Corp – slide 21
    Efficient Delivery of First Thermal Project 565 MM Cost Performance Incurred Remaining Spend Hangingstone Project 1(1) 502 MM 63 MM Progress 0% 100% Engineering Procurement Dilbit tanks - September 2014 Construction…
  22. September 2014 Corporate Update – Athabasca Oil Corp – slide 22
    Drilling and Reservoir Results to Date Application of Industry Best Practices 5m of separation as per design One delineation well per SAGD pair High resolution 3D seismic Integrated workflow providing optimal reservoir planning and…
  23. September 2014 Corporate Update – Athabasca Oil Corp – slide 23
    Development Profile Operations Cash Flow (MM/year) 140 14,000 120 12,000 Approved In Construction Daily Production (bbls/d) 100 10,000 Hangingstone Project 1 80 12,000 bbls/d 8,000 12,000 bbl/d First steam end Q1 2015 60…
  24. September 2014 Corporate Update – Athabasca Oil Corp – slide 24
    Future Growth
  25. September 2014 Corporate Update – Athabasca Oil Corp – slide 25
    Development and Exploration Opportunities Grosmont 400 MMbbls(1) (AOC interest) Apply recovery mechanisms being tested by industry Birch Slave Point Slave Point 2.1 Bbbls(1) 675,000 acre land position Potential of 150,000…
  26. September 2014 Corporate Update – Athabasca Oil Corp – slide 26
    Hangingstone Project 1 Supplemental Information
  27. September 2014 Corporate Update – Athabasca Oil Corp – slide 27
    Long-term Debt and Credit Facility Overview As at June 30, 2014 Undrawn Credit Facilities ( MM, Cdn) Interest Rate Pre-payment Terms Cdn 125 MM senior secured revolving credit facility due 2017 125 5% Pre-payable without penalty 2015…
  28. September 2014 Corporate Update – Athabasca Oil Corp – slide 28
    Completions are Key to Commercial Success Casing Bowl: 279 mm x 245 mm x 34.5 MPa 20,000 80 Production Normalized to Proppant Placed 18,000 72 16,000 64 Cumulative BOE per 100 Tons 102/02-34-62-20W5 Casing size 9 5/8 14,000…
  29. September 2014 Corporate Update – Athabasca Oil Corp – slide 29
    Montney Appraisal, Leading to Development Placid Montney Development Plan AOC Kaybob Region Montney Rights Simonette Placid Bigstone AOC Placid Type Curve 1,800 Initial condensate yield 100 bbls/mmcf Approximately one…
  30. September 2014 Corporate Update – Athabasca Oil Corp – slide 30
    Application of Proven Best Practices Delineation & seismic data Reservoir management Workflow integration Thermal Oil Development Lifecycle Experienced operations teams Lifecycle planning Construction execution best…
  31. September 2014 Corporate Update – Athabasca Oil Corp – slide 31
    Dover West Sands, Poised for Development Development 87 MMbbls reserves(1) 2,766 MMbbls contingent resource(2) Asset planned to be developed in multiple Dover West projects to a capacity 275,000 bbls/d Road Processing facilities…
  32. September 2014 Corporate Update – Athabasca Oil Corp – slide 32
    Dover West Carbonate: The Next Big Resource Play Opportunity Dover West TAGD Facility 16,800 MMbbls of bitumen in place(1) in the Leduc carbonate reef ( 100 meter net pay) Dover West Road 3,001 MMbbls contingent resource(2) based on…
  33. September 2014 Corporate Update – Athabasca Oil Corp – slide 33
    Management Team Thomas W. Buchanan, FCA Chairman, incoming President & Chief Executive Officer Over 30 years experience in the oil and natural gas sector, most Board of Directors recently CEO of Spyglass Resources Corp. and currently…
  34. September 2014 Corporate Update – Athabasca Oil Corp – slide 34
    Corporate Office 2000, 250 6 Ave SW, Calgary, Alberta, T2P 3H7 Telephone: 403-237-8227 Fax: 403-264-4640 www.atha.com

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