Athabasca Oil Corp. announced today that it has closed its previously announced private placement of $200 million aggregate principal amount of 6.75% senior unsecured notes due August 9, 2029 . The net proceeds from the Offering together with cash on hand were used to redeem its US$157 million aggregate principal amount of 9.75% senior secured second lien notes due November 1, 2026. Prudent long-term balance sheet [...]
Athabasca Oil Corp. announced today that it has entered into an underwriting agreement to sell at par, pursuant to a private placement , $200 million senior unsecured notes due 2029 which bear interest at 6.75% per annum. Closing of the Offering is anticipated on or about August 9, 2024. Athabasca intends to use the net proceeds of the Offering and cash on hand to redeem its US$157 million aggregate principal amount of [...]
Athabasca Oil Corp. announced today that it has issued a notice of conditional redemption for the outstanding US$157 million principal amount of its 9.75% Senior Secured Second Lien Notes due 2026 , which redemption will be paid using net proceeds of its issuance of 6.75% Senior Unsecured Notes due 2029 announced today and cash from its balance sheet. As set forth in the notice of redemption issued today in respect of the [...]
Athabasca Oil is pleased to report its second quarter results highlighted by record Free Cash Flow, operational milestones and the continued execution on return of capital commitments. Corporate Consolidated Q2 2024 Highlights Production: Average production of 37,621 boe/d. The Company is increasing its annual corporate guidance by 1,000 boe/d to 36,000 - 37,000 boe/d, including both Duvernay Energy and Athabasca [...]
Athabasca Oil Corp. announces that all matters presented for approval at the Annual General and Special Meeting of Shareholders held May 9, 2024 have been fully authorized and approved. The items on the agenda included fixing the number of directors to be elected at eight, electing eight proposed director nominees, appointment of Ernst & Young LLP as auditors, approval of the shareholder rights plan agreement and approval [...]
Athabasca Oil Corp. is pleased to report its first quarter results showcasing continued operational momentum and full execution of its inaugural buyback program. Production growth is underway with the commissioning of the Leismer expansion project and the tie-in of new multi-well pads in Duvernay Energy. Athabasca Corporate Consolidated Q1 2024 Highlights Production: Average production of 33,470 boe/d . Cash Flow [...]
Athabasca Oil Corp. is pleased to announce that the Toronto Stock Exchange has approved the renewal of the Corporation's normal course issuer bid to purchase up to 55,423,786 common shares during the 12-month period commencing March 18, 2024 and ending March 17, 2025 or such earlier time as the NCIB is completed or terminated at the option of Athabasca. The Company's current NCIB is scheduled to expire on March 15, 2024 [...]
Athabasca Oil Corp. is pleased to report its audited 2023 year-end results and reserves. Athabasca provides investors unique positioning to top tier liquids weighted assets with a capital allocation framework aimed at maximizing cash flow per share growth and returning capital to shareholders. Year-end 2023 Corporate Results Production: Average production of 34,490 boe/d , achieving annual guidance of 34,500 boe/d, after [...]
Athabasca Oil Corp. is pleased to announce it has closed its previously announced transaction agreements to create Duvernay Energy Corporation with Cenovus Energy Inc. . Transaction Overview Duvernay Energy is a privately held subsidiary of Athabasca. Athabasca and Cenovus have contributed assets into Duvernay Energy combining Athabasca's existing Duvernay assets, Athabasca's new 100% working interest Duvernay assets and [...]
Athabasca and Cenovus combine Kaybob assets to create pure-play Duvernay entity Exposure to ~200,000 gross acres including a newly operated 100% WI position of ~46,000 acres Leverages significant prior de-risking activity to date on Athabasca's Duvernay assets Debt-free entity seeded with $40 million cash and a $50 million credit facility Production of ~2,000 boe/d with a self-funded development plan to ~25,000 boe/d [...]
Athabasca Oil Corp. is pleased to report its third quarter results highlighted by record Adjusted Funds Flow and Free Cash Flow, operational momentum at Leismer and execution on its return of capital commitment through share repurchases. Athabasca is uniquely positioned as a low leveraged company generating significant Free Cash Flow through its low-decline, oil weighted asset base. Q3 2023 and Recent Corporate Highlights [...]
Athabasca Oil Corp. is pleased to announce that it has closed its previously announced sale of non-core Light Oil assets at Placid, Saxon and Simonette to a private company . Transaction Overview Athabasca has sold its 70% operated working interest in Placid targeting the Montney, its 30% non?operated working interest in Saxon and Simonette targeting the Duvernay and other associated non-core Placid Montney assets to a [...]
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