A Unique Opportunity in Alberta A growth strategy built on material light oil and thermal oil sands developments Assets Extensive positions in Albertas prolific thermal oil sands and light oil resource plays Strategic ownership…
Focused on our Core Assets Duvernay Fort 145 million (MM) 2014 Light Oil budget McMurray Hangingstone 200,000 high-graded acres at Kaybob 1,000+ potential locations Second half 2014 Light Oil guidance 6,000 6,500 boe/d…
Financial Highlights and 2014 Budget Capitalization Highlights(1) 2014 Capital Budget (MM)(4) Stock exchange listing TSX 14 xxx Trading symbol ATH 52-week trading range 5.47- 8.84 /sh Thermal Oil 145 Basic shares outstanding…
Kaybob drilling operation Duvernay Overview
The Duvernay is a World Class Resource Select Select Unconventional Unconventional Plays Plays In In North America North America World Large in place resource Class High liquid content:100-700 bbls/mmcf free condensate Resource…
Industry Transitioning to Development AOC Drilled Duvernay (9) Licensed Duvernay (258) Drilled Duvernay (162) Athabasca Apache Chevron Hitic Shell Trilogy *As of April 22, 2014 Farm In Celtic Conoco Encana Talisman Other 7
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 (0.8 mmcf/d & 763 bbls/mmcf) 13-23…
Duvernay 4-32 Pad Initial Production 77 day 8-29-64-20W5 69 day 4-29-64-20W5 soak period (on-strike orientation) soak period (north-south orientation) 2000 4000 2000 4000 TEST POST SOAK TEST POST SOAK 1800 3600 1800 3600 1600…
Duvernay 1-7 and 1-25 Initial Production 1-7-64-20W5 1-25-62-25W5 4000 4000 5000 8000 T T POST SOAK POST SOAK E E S 3600 4500 S 7200 3500 T T 3200 4000 6400 3000 2800 3500 5600 Rate (mcf/d, bbls/d) Rate (mcf/d, bbls/d)…
Completions are Key to Commercial Success Casing Bowl: 279 mm x 245 mm x 34.5 MPa Production Normalized to Proppant Placed 15,000 102/02-34-62-20W5 Cumulative BOE per 100 Tons Casing size 9 5/8 12,000 9,000…
Improving Cost Trends Drilling Progression Saxon / Simonette Kaybob West Kaybob East 12 3,500 m TVD Lowering future costs 3,200 m TVD 2,800 m TVD 10 Drilling Cost (MM) Drilling 8 Multi-well pads 6 Fit for purpose rigs 4…
Current Duvernay Well Economics are Compelling(1) Saxon/Simonette Initial Free Liquids Economic Sensitivity(2) Type Curve 2-34-62-20W5 30 2000 History Forecast 25 1800 NPV 10% (MM) 1600 20 1400 Saxon/ Simonette 1200…
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…
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…
Material, Multi-year Development Duvernay Projected Daily Production 140 Potential for production to exceed 120 100,000 boe/d for 10 years Daily Production (Mboe/d) 100 Inventory of 1,000 wells 80 50/50 split between gas and…
Hangingstone CPF under construction Hangingstone Overview
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…
Efficient Delivery of First Thermal Project 565 MM Cost Performance Incurred Remaining Spend Hangingstone Project 1(1) 483 MM 82 MM Progress 0% 100% Engineering Procurement Bitumen building (June 2014) Construction…
Drilling & 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…
Development Economics 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…
Future Growth
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…
Hangingstone Project 1 Supplemental Information
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 125.0 5% Pre-payable without penalty 2015…
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 Infrastructure…
Application of Proven Best Practices Delineation & seismic data Reservoir management Workflow integration Thermal Oil Development Lifecycle Experienced operations teams Lifecycle planning Construction execution best…
Dover West Sands, Poised for Development Development 87 MMbbls reserves(1) 2,768 MMbbls contingent resource(2) Asset planned to be developed in multiple Dover West projects to a capacity 275,000 bbls/d Road Processing facilities…
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…
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