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 [...]
Athabasca Oil Corp. has closed the previously announced Leismer Infrastructure Transaction with Enbridge Inc. for $265 million cash consideration. Transaction proceeds are approximately 50% of Athabasca’s market capitalization and significantly bolster the Company’s liquidity, reduce net debt and improve financial resiliency. Leismer’s cost structure remains competitive with other top tier oil sands [...]
Athabasca Oil Corp. is pleased to provide an update on its midstream process, preliminary 2019 capital guidance expectations and its recent reductions in corporate costs. Strategic Infrastructure Transaction Athabasca has entered into an agreement with Enbridge Inc. for the sale of its Leismer pipelines and Cheecham storage terminal . Enbridge has been a key partner with Athabasca across its Thermal Oil business unit and [...]
Athabasca Oil Corp. is pleased to provide its 2018 third quarter results and an operations update. Q3 2018 Results and Operational Highlights Consolidated Results – Strength in Execution Production of 40,612 boe/d , representing 12% growth year over year Record adjusted funds flow of $62.2 million and operating income of $83.7 million Capital expenditures of $52.4 million; 75% weighted to high margin Light Oil [...]
CALGARY, Alberta, Aug. 01, 2018 -- Athabasca Oil Corp. is pleased to provide its 2018 second quarter results and an operations update. Athabasca is a uniquely positioned low-decline, oil-weighted producer with assets in the most active resource plays in Western Canada . The second quarter marks solid operations in both Light Oil and Thermal Oil with strong funds flow growth over the prior quarter. Q2 2018 Results and [...]
CALGARY, Alberta, May 09, 2018 -- Athabasca Oil Corp. is pleased to provide its 2018 first quarter results and an operations update. The quarter marks continued operational success across both business units. Athabasca is uniquely positioned as a low-decline, oil-weighted producer with assets in the best plays in Western Canada . The Company’s focus remains on margin growth and financial sustainability. Recent [...]
CALGARY, Alberta, April 06, 2018 -- Athabasca Oil Corp. is pleased to announce that all matters presented for approval at the Annual General and Special Meeting of Shareholders held April 6, 2018 have been fully authorized and approved. The items on the agenda included fixing the number of directors to be elected at six, electing six proposed director nominees, approval of the restricted share unit and stock option plans [...]
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