A Unique Opportunity in Alberta A growth strategy built on material thermal oil sands and light oil developments Assets Extensive positions in Albertas prolific thermal oil sands and light oil resource plays Located in a stable…
Pillars of Growth, Complementary Assets Light Oil Light Oil barrels of oil Caribou Q3 2013 5,800 equivalent per day production (boe/d)(1) Thermal Oil million (MM) acres Land base 2.7 (net) Proved plus 22.0 MMboe probable…
Financial Overview TSX : ATH ( millions Cdn, unless otherwise stated) 2014 Capital Budget(4) Market Capitalization(1) 2,597 ( millions) Shares Outstanding 400.8 million 6 Fully diluted 426.1 million Officer & Director Holdings…
2014: A Focused Portfolio Thermal Oil 2014 capital budget: 348 MM Fort McMurray Complete Hangingstone Project 1, first steam Q4 Hangingstone Construction of Hangingstone regional infrastructure Light Oil 2014 capital budget:…
Boiler feed water tank 2014 Development Focus
Hangingstone Development Hangingstone Regional Development Map Development 117 MMbbl reserves(1) 912 MMbbl contingent resource(2) Fort McMurray Asset planned to be developed in three phases: Project 1 - 12,000 bbl/d Project 2 -…
Efficient Delivery of First Thermal Project 563 MM Cost Performance Incurred Committed On Budget Hangingstone Project 1(1) 309 MM 132 MM Progress 0% 100% Engineering Procurement Pad AC (foreground), Pad AD and Pad AE…
Hangingstone 1 Pad Results Drilled 15 producers and 10 injectors in 2013 Average effective wellbore length 90% design target Wellbore pairs drilled precisely as planned for optimal steam chamber conformance Effective wellbore…
The Duvernay is a World-Class Resource Select Unconventional Plays In North America World Large in place resource Class High liquid content: 100-350 bbl/mmcf free condensate Resource Initial results compare favorably to the…
AOC in the Heart of the Duvernay Fairway Duvernay Kaybob Land Positions Athabasca Encana/PetroChina Husky Shell Talisman 08-18-64-17W5 Chevron ConocoPhillips Trilogy Cenovus Exxon 20m Isopach excluding carbonate…
Focused on Liquids-Rich Gas Pressure (1000 psi) 0 0 5 10 15 Duvernay Maturity Map(1) AOC Industry 5 Depth (1000ft) Oil Window 08-18 10 02-34 Liquids Rich Gas V 06-10 V Under-pressured Over-pressured V 8-18…
Initial Duvernay Results are Very Encouraging Target Well Parameters (Condensate Gas Window) Type Curve vs Results Well cost: 10 - 15 MM (D&C) (cumulative production) IP30: 600 1,000 boe/d 400,000 EUR: 600 1,000 Mboe Type Curve (No…
Duvernay Development Summary 140 Gas Potential for production to exceed 120 NGL Daily Production (boe/d) 100,000 boe/d for 10 years 100 Condensate Oil Inventory of 1,000 wells 80 50/50 split between gas and liquids 60…
Strategic Ownership of Infrastructure(2) Total Battery Capacity Oil Capacity 36,000 bbl/d 48 mmcf/d, Kaybob East Gas Capacity expandable to 130 mmcf/d Kaybob West Keyera Saxon Simonette(1) AOC 63 km Pipeline…
Future Growth
Development and Exploration Opportunities Slave Point Slave Point Birch 675,000 acre land position 2.1 billion bbls Validated oil production with Birch Potential of 150,000 bbls/d Grosmont 2013 pilot program Dover West Sands…
Growth Opportunities With Sufficient Funding Thermal Oil Hangingstone 1 and expansion Daily Production 250 Dover West Sands SAGD Carbonate TAGD 200 Thermal Oil JV Light Oil Gross Mboe/d 150 Duvernay development Montney…
Dover West Carbonate: The Next Big Resource Play Dover West Opportunity TAGD Facility Dover West 16,800 MMbbl of bitumen in place(1) in the Leduc Road carbonate reef ( 100 m net pay) 3,000 MMbbl contingent resource(2) based on…
Dover West Sands, Poised for Development Development 87 MMbbl reserves(1) 2,930 MMbbl contingent resource(2) Asset to be developed in multiple projects Dover West Road to a capacity 275,000 bbl/d Processing plants planned to be…
Montney Appraisal, Leading to Development Appraisal Identifies 400 High-Graded Locations(1) Early Learnings 3 distinctly different areas Kaybob West 130 Locations Artificial lift is required timing and method varies…