Athabasca Oil Corp.

Athabasca Oil Corp. is taking further actions in response to the decline in global oil prices to bolster balance sheet strength and corporate resiliency. Upsized Contingent Bitumen Royalty Athabasca is pleased to announce an upsizing of the previously completed Contingent Bitumen Royalty with Burgess Energy Holdings L.L.C. for additional cash consideration of $70 million. Athabasca has now raised total cash proceeds of [...]

Athabasca Oil Corp. is taking further immediate actions in response to the significant decline in global oil prices to bolster balance sheet strength and corporate resiliency. Shut-in of Hangingstone Asset Due to the significant decline in oil prices combined with the economic uncertainty associated to the ongoing COVID crisis, Athabasca has decided to suspend the Hangingstone SAGD operation. This suspension was initiated [...]

Athabasca Oil Corp. is taking swift action in response to the significant decline in global oil prices to bolster balance sheet strength and corporate resiliency, including a $30 million reduction to its 2020 capital program and proactively curtailing heavy oil production at Hangingstone. $30 million Reduction to 2020 Capital Budget and Operations Update Athabasca has immediately cancelled $30 million of capital [...]

Athabasca Oil Corp. is pleased to provide its 2019 year-end results and annual reserves. 2019 Corporate Highlights Production: Annual production of ~36,200 boe/d which included ~10,100 boe/d in Light Oil and ~26,100 bbl/d in Thermal Oil. Funds Flow, Capital Expenditures & Free Cash Flow: Annual Adjusted Funds Flow of ~$155 million and ~$140 million of capital expenditures resulting in approximately $15 million of Free [...]

Athabasca Oil Corp. demonstrated strong operational results at the end of 2019 and has approved a 2020 capital budget focused on sustaining annual production within forecasted funds flow. Year-end 2019 Operations Update Production – Annual average of ~36,200 boe/d, in line with prior guidance of 36,000 boe/d. Q4 2019 production averaged ~36,400 boe/d. Leismer Update – December production increased to ~20,100 [...]

Athabasca Oil Corp. is pleased to report its third quarter operational and financial results. Third Quarter and Operational Highlights: Adjusted Funds Flow: $43.9 million and $133.3 million for the third quarter and first nine months of 2019 respectively. Free Cash Flow: $8.6 million and $39.3 million for the third quarter and first nine months of 2019. Liquids Weighted Production: 35,257 boe/d in the third quarter of [...]

Athabasca Oil Corp. is pleased to report continued strong financial performance with its second quarter results. With its resilient business model, the Company is well positioned to generate free cash flow in 2019 and beyond. 2019 Second Quarter Highlights Consolidated Quarterly Results Production of ~34,000 boe/d Operating income of ~$82 million Adjusted funds flow of ~$48 million Free cash flow of ~$21 million with [...]

Athabasca Oil Corp. is pleased to announce that all matters presented for approval at the Annual General of Shareholders held May 9, 2019 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 and the appointment of Ernst & Young LLP as auditors. The results of the voting, inclusive of all votes cast and [...]

Athabasca Oil Corp. is pleased to report strong operational and financial performance in the first quarter of 2019. With its resilient business model, the Company is well positioned to generate free cash flow in 2019 and beyond. 2019 First Quarter Highlights Consolidated Quarterly Results Production of 39,206 boe/d Operating income of $76 million Adjusted funds flow of $42 million Free cash flow of $10 million with [...]

Athabasca Oil Corp. is pleased to provide its 2018 year-end results and annual reserves. Athabasca is a liquids-weighted intermediate producer with exposure to Canada’s most active resource plays . The Company’s high quality, long life assets provide investors with unique exposure to free cash flow which, combined with focus on strong margin opportunities, drives shareholder returns. Despite unprecedented [...]