Athabasca Oil Corp.

Athabasca Oil Corp. announces its 2022 budget that is focused on sustaining base production and maximizing free cash flow generation. The Company remains committed to its capital allocation priorities with near-term free cash flow directed to further significant term debt repayment. Reduced cash flow volatility, consistent operational execution and a best-in-class balance sheet is expected to unlock significant [...]

Athabasca Oil Corp. is pleased to report its 2021 third quarter results. Record financial results during the quarter, including $57 million of Free Cash Flow, demonstrate the quality of Athabasca's asset base and unique positioning in the current oil price environment. Q3 Highlights Production: ~34,250 boe/d including ~26,700 bbl/d in Thermal Oil and ~7,500 boe/d in Light Oil. Record Operating Income: $121 million driven [...]

Athabasca Oil Corp. announces that it has closed the issuance of US$350 million of Senior Secured Notes and the syndication of a $110 million reserve based credit facility. Athabasca's strategy is to position itself as a low leveraged company that will generate significant free cash flow through its low-decline, oil weighted asset base. The refinanced capital structure provides certainty to shareholders of the Company's [...]

Athabasca Oil Corp. announced today a private placement offering of 350,000 units. Each unit will consist of $1,000 principal amount of senior secured second lien notes due 2026 which bear interest at 9.75% per annum, and one five-year warrant to purchase 227 common shares at an exercise price of $0.9441 per Warrant Share ended October 6). The Warrants have a cashless exercise feature to minimize future dilution. Listing [...]

Athabasca Oil Corp. has executed two strategic market egress transactions that increase corporate liquidity by approximately $100 million through cash consideration and the release of restricted cash that was securing letters of credit. These transactions further bolster the Company's strong liquidity position with a 60% increase in pro forma unrestricted cash balances to approximately $265 million. Athabasca believes the [...]

Athabasca Oil Corp. is pleased to report its 2021 second quarter results that demonstrate the quality of its asset base. Athabasca is advancing the refinancing of its debt that will allow shareholders to capture unparalleled cashflow generation potential from its long reserve life, oil weighted asset base. Q2 Highlights Production: ~34,650 boe/d including ~26,450 bbl/d in Thermal Oil and ~8,200 boe/d in Light Oil. Record [...]

Athabasca Oil Corp. is pleased to announce that it has executed an amending Hangingstone Transportation and Storage Services Agreement that resulted in a $44 million prepayment from restricted cash and a ~$5 million reduction to annual tolls. The amended TSSA reduces Hangingstone's dilbit financial assurances by ~$44 million to ~$27 million. The reduction in financial assurances unlocked restricted cash on the Company's [...]

Athabasca Oil Corp. announces that all matters presented for approval at the Annual General and Special Meeting of Shareholders held May 5, 2021 have been fully authorized and approved. The items on the agenda included fixing the number of directors to be elected at seven, electing seven proposed director nominees, appointment of Ernst & Young LLP as auditors, approval of the amendment and reconfirmation of the Company's [...]

Athabasca Oil Corp. is pleased to report its 2021 first quarter results that demonstrate the resilience and quality of its asset base. The Company is also pleased to provide an update on initiatives to further improve its positioning in a post COVID recovery. Athabasca plans to refinance its debt in the coming months that will allow shareholders to capture the unparalleled cashflow generation potential from its long [...]

Athabasca Oil Corp. reports its 2020 year-end results and annual reserves. In a year of unprecedented challenges, Athabasca demonstrated the exceptional resilience of its low-decline assets. In 2021, Athabasca is focused on resuming its pre-COVID business plan of free cash flow generation, disciplined operations and preserving long term future projects across its portfolio. Armed with an unrestricted cash balance of $165 [...]