Athabasca Oil Corp.

Athabasca Oil Corp.

Athabasca Oil Corp.

Overview
Date Founded

2006

Headquarters

Bow Valley Square 4,250 6th Avenue SW,Suite 2000,Calgary, AB T2P 3H7

Type of Company

Public

Employees (Worldwide)

245

Industries

Oil & Gas
Power & Utilities

Company Description

Athabasca Oil Corp. focuses on the sustainable development of light oil resources in northwestern Alberta and oil sands in the Athabasca region in northeastern Alberta. It operates through the following business units: Thermal Oil and Light Oil. The company's projects include Hangingstone, Dover West, Birch, Grosmont, Dover JV, Kaybob, Saxon/Placid/Simonette, Grande Prairie, Steam Assisted Gravity Drainage, Thermally Assisted Gravity Drainage and Hydraulic Fracturing. Athabasca Oil was founded by Ian P. Atkinson on August 23, 2006 and is headquartered in Calgary, Canada.

Website
Executives & Employees

Director, Chief Executive Officer & President

Chief Financial Officer

General Counsel & Vice President Business Development

Vice President, Thermal Oil

Vice President, Operations

Vice President, Light Oil

Vice President, Capital Markets & Communications

Board of Directors

Former Executive Vice President, North American Operations at Repsol Oil & Gas Canada, Inc.

Former Interim Executive Vice President & Chief Financial Officer at Black Diamond Group Ltd.

Chief Financial Officer at North West Upgrading, Inc.

Managing Director & Partner at 1901 Partners

Director, Chief Executive Officer & President at Athabasca Oil Corp.

Former Vice President, Operations at KKD Oil Sands Partnership

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Athabasca Oil Corp.
Owners & Shareholders
Details Hidden

Silver Point Capital specializes in taking long and short positions distressed debt and credit-focused securities. The firm's investment strategy with respect to their Flagship Funds focuses on making investments in debt, equity or other securities, obligations or instruments of misvalued, mislevered, leveraged or financially distressed companies and in event-oriented and other special situations. The Flagship Funds may hold both long and short positions in such investments. The investment strategies employed by the Flagship Funds may include the following: credit-oriented investments; event-oriented investments; asset-oriented investments; and investments in misvalued securities, obligations or instruments. The Flagship Funds may utilize any equity, debt, derivative or other instrument that Silver Point deems appropriate, including, but not limited to, bank debt, receivables and trade claims, and may provide financing, including direct lending, debtor-in-possession financing and bankruptcy exit financing, either directly or indirectly through investments in companies, including affiliates of Silver Point, providing such financing. In select circumstances, Silver Point may also pursue other attractive private investment opportunities.The Specialty Credit Fund's investment strategy is to originate loans to small and middle market companies domiciled in the US and invest in specialty bridge financings, rescue financings and secondary purchases of loans and other credit-related assets. It is anticipated that the majority of these loans will be secured, floating rate investments. The Select Opportunities Fund invests alongside the Specialty Credit Fund and potentially other funds on an \"overflow basis\" after such funds have received their entire desired share of each investment opportunity falling within their respective investment programs and to make investments in investment opportunities within or outside the strategies of the Specialty Credit Fund and potentially other funds that are not pursued by such funds. The Distressed Opportunities Fund seeks to invest opportunistically in debt, equity and other financial instruments, obligations and assets, with a particular focus on companies and/or instruments that are stressed, distressed, overleveraged and/or going through restructurings, bankruptcies or other complex situations. The fund has the flexibility to invest in a wide variety of instruments, including less liquid and longer duration investments, and may have a concentrated portfolio, including control positions.The SPCP Group VIII invests in the debt, equity and other securities, obligations or instruments of a particular company.

Details Hidden

Silver Point Capital specializes in taking long and short positions distressed debt and credit-focused securities. The firm's investment strategy with respect to their Flagship Funds focuses on making investments in debt, equity or other securities, obligations or instruments of misvalued, mislevered, leveraged or financially distressed companies and in event-oriented and other special situations. The Flagship Funds may hold both long and short positions in such investments. The investment strategies employed by the Flagship Funds may include the following: credit-oriented investments; event-oriented investments; asset-oriented investments; and investments in misvalued securities, obligations or instruments. The Flagship Funds may utilize any equity, debt, derivative or other instrument that Silver Point deems appropriate, including, but not limited to, bank debt, receivables and trade claims, and may provide financing, including direct lending, debtor-in-possession financing and bankruptcy exit financing, either directly or indirectly through investments in companies, including affiliates of Silver Point, providing such financing. In select circumstances, Silver Point may also pursue other attractive private investment opportunities.The Specialty Credit Fund's investment strategy is to originate loans to small and middle market companies domiciled in the US and invest in specialty bridge financings, rescue financings and secondary purchases of loans and other credit-related assets. It is anticipated that the majority of these loans will be secured, floating rate investments. The Select Opportunities Fund invests alongside the Specialty Credit Fund and potentially other funds on an \"overflow basis\" after such funds have received their entire desired share of each investment opportunity falling within their respective investment programs and to make investments in investment opportunities within or outside the strategies of the Specialty Credit Fund and potentially other funds that are not pursued by such funds. The Distressed Opportunities Fund seeks to invest opportunistically in debt, equity and other financial instruments, obligations and assets, with a particular focus on companies and/or instruments that are stressed, distressed, overleveraged and/or going through restructurings, bankruptcies or other complex situations. The fund has the flexibility to invest in a wide variety of instruments, including less liquid and longer duration investments, and may have a concentrated portfolio, including control positions.The SPCP Group VIII invests in the debt, equity and other securities, obligations or instruments of a particular company.

Recent Transactions
Details Hidden

Athabasca Oil Corp. purchases Statoil Canada Ltd. /Thermal Oil Assets from Equinor ASA

Details Hidden

Murphy Oil Corporation, Murphy Oil Co. Ltd. purchase Athabasca Oil Corp. /Kaybob Duvernay Oil Facility/ (Alberta) from Athabasca Oil Corp.

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Athabasca Oil Corp. purchases Excelsior Energy Ltd.

Transaction Advisors
Manager

Advised onAthabasca Oil Corp. issued Common Stock

Underwriter

Advised onAthabasca Oil Corp. issued Common Stock

Manager

Advised onAthabasca Oil Corp. issued Common Stock

Clients

at Transcanada, we build and operate the energy infrastructure that North America needs. Experts in our field, known for our solid financial track record, for our integrity and high standards of corporate governance and business ethics, we are committed to being a good neighbour. With more than 60 years experience, TransCanada is a leader in the responsible development and reliable and safe operation of North American energy infrastructure. Our network of wholly owned and affiliated pipelines taps into virtually all major natural gas supply basins in North America. TransCanada leads the North American pipeline industry and the world in system integrity. We’ve demonstrated an exceptional record of system reliability and safety. With increasing production from oil sands in Alberta, and growing demand for secure, reliable sources of energy, TransCanada has identified opportunities to develop oil pipeline capacity, complementing our natural gas transmission business, drawing on our extensive pipelines experience and offering an efficient way to maximize the value of our current pipeline assets. TransCanada is one of the continent’s largest providers of gas storage and related services. A growing independent power producer, TransCanada owns, controls or is developing more than 10,800 megawatts of power generation

Pembina Pipeline Corp. engages in the provision of transportation and midstream services. It operates through the following segments: Conventional Pipelines, Oil Sands and Heavy Oil, Gas Services. and Midstream. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate, and natural gas liquids. The Oil Sands and Heavy Oil segment includes the Syncrude, Horizon, Nipisi and Mitsue Pipelines, and the Cheecham Lateral; which pipelines and related facilities deliver synthetic crude oil produced from oil sands. The Gas Services segment comprises of natural gas gathering and processing facilities, including nine shallow and deep cut sweet gas processing plants and gathering systems. The Midstream segment handles extraction and fractionation facilities, terminalling, and storage hub services under a mixture of short, medium, and long-term contractual arrangements. The company was founded on September 29, 1954 and is headquartered in Calgary, Canada.

Enbridge Income Fund Holdings, Inc. operates as an close-ended investment fund, which engages in the investment in its fund. The fund's business comprises of the transportation, storage, and generation of energy. It operates through the following business segments: Liquid Pipelines, Gas Pipelines, and Green Power. The Liquids Pipelines segment consists of common carrier and contract pipelines, feeder pipelines, and gathering systems that transport crude oil, natural gas liquids, and terminals. The Gas Pipelines segment transports liquids-rich natural gas through the Alliance Pipeline system. The Green Power segment operates wind facilities, solar facilities, and waste heat recovery facilities. The The company was founded on March 26, 2010 and is headquartered in Calgary, Canada.

Key Stats and Financials As of 2017
Market Capitalization
$932M
Total Enterprise Value
$894M
Earnings Per Share
$-0.42
Revenue
$759M
Net Profit
$-209M
EBITDA
$144M
EBITDAMargin
19.01%
Total Debt
$526M
Total Equity
$1.52B
Enterprise Value Sales
1.18x
Enterprise Value EBITDAOperating
6.2x
TEVNet Income
-4.27x
Debt TEV
0.59x
Three Year Compounded Annual Growth Rate Of Revenue
81.63%
Five Year Compounded Annual Growth Rate Of Revenue
81.96%
Non-Profit Donations & Grants
$10K - $25K
2015
$10K - $25K
2014
$10K - $25K
2013
Investors
Details Hidden

Network Capital Management focuses on equity investments in early-stage public and private companies in the energy, energy services and real estate sectors. The firm also invests in special situations. The firm makes direct investments and also sponsors restructurings and recapitalizations that bring new assets and a proven business model to financially distressed companies with intangible asset value. Their portfolio is growth-oriented, with a medium term investment horizon and seeks returns of 30% per year. The firm exits their positions in private companies through public offerings or sale transactions.

Details Hidden

Lindir is a sector-focused investment manager specialized in the natural resources sector, particularly energy. The firm invests in oil exploration and production companies. They have invested in Norway and in Canada.Lindir is a long-term investor and aims to create value through leadership, know-how and their established network. They favor high growth potential and management team excellence.

Suppliers
Enbridge, Inc. Alternative Energy | Calgary, AB

Over the past 60 years, Enbridge has become a leader in the safe and reliable delivery of energy in North America and is proud to be recognized as one of the Global 100 Most Sustainable Corporations in the World. We transport energy, operating the world's longest, most sophisticated crude oil and liquids transportation system. We have a significant and growing presence in the natural gas transmission and midstream businesses, and an increasing involvement in power transmission. We generate energy, expanding our interests in renewable and green energy technologies including wind and solar energy, geothermal and hybrid fuel cells. We distribute energy, owning and operating Canada's largest natural gas distribution company, and provide distribution services in Ontario, Quebec, New Brunswick and New York State. Enbridge manages and has a 72.3 per cent overall interest in Enbridge Income Fund and a 25.5 per cent overall ownership in Enbridge Energy Partners, L.P. Enbridge’s corporate headquarters are in Calgary, Alberta and we employ about 6,900 people in Canada and the United States and are ranked as one of the Top 100 Employers to Work for in Canada, and one of Canada’s Greenest Employers. Enbridge Inc. common shares trade on the Toronto and New York stock exchanges under the symbol ENB.

GLJ Petroleum Consultants Ltd. Other Business & Consulting Services | Calgary, AB

GLJ Petroleum Consultants Ltd. provides energy resource consulting services. It offers reserves and resources, asset transactions, scoping analysis, technical studies, risk and sensitivity analysis, expert witness, technical writing, and commodity price forecasts. The company was founded by Vic Kloepfer and Gary Last in 1972 and is headquartered in Calgary, Canada.

Inter Pipeline Ltd. Oil & Gas | Calgary, AB

Created in 1997, Inter Pipeline Fund is a major petroleum transportation, storage and natural gas liquids extraction business based in Calgary, Alberta, Canada. Inter Pipeline is a publicly traded limited partnership that owns and operates a diversified combination of energy infrastructure assets in western Canada, the United Kingdom, Denmark, Germany and Ireland. This asset portfolio generates long-term and predictable cash flows, thereby providing unitholders with a growing and stable source of monthly cash distributions. Inter Pipeline operates approximately 6,300 kilometres of petroleum pipelines and 4.8 million barrels of storage in western Canada. These systems transport approximately 990,000 barrels per day of oil sands bitumen and conventional crude oil in 2012, representing approximately 15% of total western Canadian conventional volumes and roughly 40% of oil sands volumes. Inter Pipeline is one of North America's largest natural gas liquids extraction businesses with ownership in three major extraction facilities located in southern Alberta. These facilities have the capacity to process 6.2 bcf/d of natural gas, and capacity to produce approximately 200,000 b/d of natural gas liquids. Inter Pipeline's NGL business currently processes approximately 40% of the natural gas exported from the province of Alberta. Inter Pipeline is one of North America's largest natural gas liquids extraction businesses with ownership in three major extraction facilities located in southern Alberta. These facilities have the capacity to process 6.2 bcf/d of natural gas, and capacity to produce approximately 200,000 b/d of natural gas liquids. Inter Pipeline's NGL business currently processes approximately 40% of the natural gas exported from the province of Alberta. Inter Pipeline's bulk liquid storage business segment is the fourth largest independent tank storage business in Europe. The bulk liquid storage segment operates through two wholly owned entities. Simon Storage Limited holds Inter Pipeline's storage operations in the United Kingdom, Ireland and Germany. Inter Pipeline's other European entity, Inter Terminals, holds bulk liquid storage assets in Denmark. Simon Storage is a recognized leader in the bulk liquid storage sector. Simon handles, blends and stores over 250 different products primarily comprised of petroleum, petrochemical and alternative fuels. Simon owns and operates eight bulk liquid storage terminals located on the coasts of the United Kingdom, Germany and Ireland with a combined liquid storage capacity of approximately eight million barrels. Other complementary services include facilities management and engineering services to several of the world's largest integrated energy companies. Inter Terminals operates four large terminals that are strategically located along the Danish Straits, the third most active petroleum transit channel in the world. The four terminals have a combined storage capacity of approximately 11 million barrels in 49 tanks. A variety of petroleum products are handled at the four terminals.

Competitors
Chevron Corp. Oil & Gas - Wilmington, DE

Chevron is one of the world's leading integrated energy companies and conducts business worldwide. Our success is driven by our people and their commitment to get results the right way—by operating responsibly, executing with excellence, applying innovative technologies and capturing new opportunities for profitable growth. We are involved in virtually every facet of the energy industry. We explore for, produce and transport crude oil and natural gas; refine, market and distribute transportation fuels and lubricants; manufacture and sell petrochemical products; generate power and produce geothermal energy; provide energy efficiency solutions; and develop the energy resources of the future, including research for advanced biofuels.

Tourmaline Oil Corp. Oil & Gas - Calgary, AB

Tourmaline Oil Corp. is a Canadian intermediate crude oil and natural gas exploration and production company focused on long-term growth through an aggressive exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin. Tourmaline commenced active operations in the fall of 2008 with the objective of building a successful Canadian intermediate crude oil and natural gas exploration, development and production company with a long-term business strategy similar to that of Duvernay Oil Corp. and Berkley Petroleum Corp., companies previously founded and managed by certain key members of Tourmaline’s senior management team. During the two-year period since commencing active operations, Tourmaline, through a series of strategic acquisitions, farm-ins and land acquisitions combined with its active capital exploration and development program, has assembled an extensive undeveloped land position with a large, multi-year drilling inventory and operating control of important natural gas processing and transportation infrastructure in two core long-term growth areas – the Alberta Deep Basin and the Greater Peace River High. Tourmaline is executing a large-scale, repeatable capital exploration and development program in these two core long-term growth areas. Tourmaline’s long-term business strategy is to increase shareholder value by building an extensive asset base over two to three core exploration and production areas and exploiting and developing these areas to increase reserves, production and cash flows at an attractive return on invested capital. The Company seeks to execute this strategy by: aggressively drilling and developing its extensive undeveloped land position; adopting and employing advanced drilling and completion techniques; enhancing returns by focusing on operational and cost efficiencies; pursuing strategic acquisitions with significant potential synergies; and wildcat exploration drilling for new pool discoveries. Management believes Tourmaline has a number of competitive advantages that management expects will help the Company successfully execute its long-term business strategy including: an extensive undeveloped land position in two long-term growth areas; a large, multi-year drilling inventory; an incentivized management team with demonstrated operating and acquisition skills; majority operating control of the Company’s core assets; a strong balance sheet; and a focus on operational efficiencies and cost containment.

Paramount Resources Oil & Gas - Calgary, AB

Paramount Resources Ltd. engages in the exploration, development, production, processing, transportation, and marketing of natural gas, crude oil, and natural gas liquids. It operates through the following segments: Principal Properties, Strategic Investments, and Corporate. The Principal Properties segment focuses on the development of liquids-rich resource plays targeting the Montney and Duvernay formations in the Alberta Deep Basin. The Strategic Investments segment includes the investments in other entities and investments in exploration and development stage assets. The Corporate segment is comprised of income and expense items, including general and administrative expense, share-based compensation expense and interest expense. The company was founded by Clayton H. Riddell on February 14, 1978 and is headquartered in Calgary, Canada.