Athabasca Oil Corporation · TSX:ATH
Athabasca Oil — Investor Presentation (December 2023)
10 slides from Athabasca Oil's investor presentation, Dec 19, 2023
Slide 1: Athabasca Oil Corporation – Duvernay Energy Corporation
ATHABASCA OIL CORPORATION FOCUSED | EXECUTING | DELIVERING DUVERNAY ENERGY CORPORATION (12-19-2023)
Slide 2: Duvernay Energy – Corporate Snapshot
DUVERNAY ENERGY – CORPORATE SNAPSHOT CREATION OF NEW PRIVATE COMPANY DUVERNAY ENERGY ASSETS o Athabasca and Cenovus combine Duvernay assets Halo Energy • Athabasca to operate Duvernay Energy (“DEC”) GMT Exploration o Unparalleled exposure to Kaybob Duvernay oil window Hitic Energy o Debt‐free entity
Slide 3: Duvernay Energy – Strategic Positioning
DUVERNAY ENERGY – STRATEGIC POSITIONING PRIVATE DUVERNAY LONG TERM GROWTH COMPANY STRATEGY • Athabasca 70% Equity Interest; Cenovus 30% Interest • Self‐funded development plan with growth to ~25,000 boe/d (75% Liquids) in late 2020s • AOC and DEC positioned as two separate companies with independent
Slide 4: Kaybob Duvernay >1,000 Industry Wells
KAYBOB DUVERNAY >1,000 INDUSTRY WELLS 2010‐2014 HISTORICAL SPUDS BY OPERATOR ~240 WELLS 150 Athabasca/Murphy Crescent Point 125 Chevron/KUFPEC Kiwetinohk & PetroChina Whitecap 100 75 2015‐16 ~500 WELLS CTD 50 25 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2017‐18 ~750 WEL
Slide 5: Kaybob Duvernay – Evolving Well Design
KAYBOB DUVERNAY – EVOLVING WELL DESIGN LATERAL LENGTH LATERAL LENGTH BY YEAR o Industry trend of increasing lateral length in resource plays o Recent Kaybob Duvernay laterals exceeding 4,500m o DEC targeting 4,000m+ where possible to optimize land usage and improve capital efficiencies Source: McDan
Slide 6: Duvernay Energy – Development Plans
DUVERNAY ENERGY – DEVELOPMENT PLANS KAYBOB EAST ILLUSTRATIVE ECONOMICS 2024 ACTIVITY 4,000M LATERAL & 1,000LB/FT (US$85 WTI) o $82MM capital budget Capital (DCET) $MM $14 $10 o 12 gross wells (7.1 net wells) IP365 boe/d 618 618 EUR mboe 975 975 o 100% WI activity Liquids yield % 78% 78% • Two‐well p
Slide 7: Appendix
APPENDIX
Slide 8: Duvernay Energy – Infrastructure
DUVERNAY ENERGY – INFRASTRUCTURE INFRASTRUCTURE ADVANTAGE o Operated strategic infrastructure o Underutilized capacity with flexibility for future expansions o Oil infrastructure directly connected to the Pembina Peace liquids system o Gas infrastructure dually connected to Pembina Gas Infrastructur
Slide 9: Reader Advisory
READER ADVISORY Forward Looking Statements This Presentation contains forward‐looking information that involves various risks, uncertainties and other factors. All information other than statements of historical fact is forward‐looking information. The use of any of the words “anticipate”, “plan”, “
Slide 10: Reader Advisory Cont'd
READER ADVISORY CONT’D Reserves Information The McDaniel Report was prepared using the assumptions and methodology guidelines outlined in the COGE Handbook and in accordance with National Instrument 51‐101 Standards of Disclosure for Oil and Gas Activities, effective December 31, 2022. There are num
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