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Athabasca Oil Corp (ATH.TO)

ATH.TO on Toronto Stock Exchange

0.99CAD
22 Sep 2017
Change (% chg)

$0.01 (+1.02%)
Prev Close
$0.98
Open
$0.98
Day's High
$1.02
Day's Low
$0.98
Volume
1,226,597
Avg. Vol
939,508
52-wk High
$2.14
52-wk Low
$0.85

Latest Key Developments (Source: Significant Developments)

Athabasca Oil Corporation announces 2017 second quarter results
Wednesday, 26 Jul 2017 09:33pm EDT 

July 27 (Reuters) - Athabasca Oil Corp - :Athabasca Oil Corporation announces 2017 second quarter results.Quarterly production of 36,574 boe/d (91 pct liquids), representing 27pct per share growth over Q1 2017 and 162pct year over year.Qtrly FFO per share $0.05.2017 capital budget is unchanged at $210 million.Annual corporate production is expected to average between 33,500 - 36,500 boe/d.Athabasca Oil Corp - co's 2017 light oil capital budget has been increased by $15 million to $150 million.Says Athabasca's 2017 thermal oil capital budget has been reduced by an additional $15 million to $60 million.  Full Article

Athabasca Oil says qtrly production of 26,737 boe/d
Wednesday, 3 May 2017 11:26pm EDT 

May 3 (Reuters) - Athabasca Oil Corp :Athabasca Oil Corporation announces 2017 first quarter results.Qtrly production of 26,737 boe/d (95% liquids).Company has a fully funded development outlook capable of delivering growth to 60,000 boe/d by 2020.Production growth to over 10,000 boe/d by year-end 2017 and approximately 25,000 boe/d over next five years.2017 thermal oil budget reduced by $30 million to $75 million with unchanged production guidance of 29,000 - 32,500 bbl/d.2017 light oil capital budget is unchanged at $135 million with production guidance of 6,500 - 7,500 boe/d.Anticipates an internally funded capital program in 2018 at us$55/bbl WTI with net debt to cash flow of less than 2.5x.  Full Article

Athabasca Oil Corp reports qtrly loss per share of $1.92
Thursday, 9 Mar 2017 05:18pm EST 

Athabasca Oil Corp : Athabasca oil corp announces 2016 year-end results and reserves . Has a fully funded five-year development outlook capable of delivering a 30 pct production per share CAGR over next five years . 2017 guidance is unchanged . Qtrly loss per share $1.92 .Qtrly petroleum and natural gas volumes 11,630 boe/d versus 11,581 BOE/D.  Full Article

Athabasca Oil announces transformational acquisition of high quality thermal oil assets from Statoil ASA
Wednesday, 14 Dec 2016 05:18pm EST 

Athabasca Oil Corp : Athabasca Oil - Deal for consideration of $435 million cash, 100 million common shares and contingent value payments triggered at oil prices above $65/bbl WTI . Athabasca Oil - Acquired assets include operating leismer thermal oil project, delineated corner lease and related strategic infrastructure . Athabasca Oil - Acquisition is forecasted to be 275% and 60% accretive on 2017 and 2018 cash flow per basic share respectively . Athabasca Oil Corp sees 2017 production in range of (boe/d) 38,000 - 42,000 . Athabasca Oil Corp- Cash component of purchase price will be sourced from existing cash balances . Athabasca Oil - entered into agreements with statoil asa and its subsidiary Statoil Canada Ltd. to acquire its Canadian Thermal Oil assets .Athabasca Oil Corporation announces transformational acquisition of high quality thermal oil assets from Statoil ASA.  Full Article

Statoil sells Canada oil sands unit, will book $500-550 million impairment
Wednesday, 14 Dec 2016 04:15pm EST 

Statoil Asa : Has signed an agreement to divest its 100% owned Kai Kos Dehseh (KKD) oil sands projects in Canadian province of Alberta to Athabasca oil corporation . Total consideration of transaction to statoil is up to cad 832 million, which includes a cash consideration of cad 435 million and cad 147 million to be paid in form of 100 million common shares in athabasca . Up to cad 250 million will be paid in a series of contingent payments. In total, approximately 80% of consideration will be in cash elements . Will no longer operate any oil sands assets . Divestment will trigger an impairment of usd 500-550 million, excluding negative currency effects from cad-usd exchange rate at closing Further company coverage: [STL.OL] (Reporting By Terje Solsvik) ((terje.solsvik@thomsonreuters.com;)).  Full Article

Athabasca Oil upsizes Contingent Bitumen Royalty with Burgess Energy Holdings to $257 mln
Thursday, 3 Nov 2016 04:26pm EDT 

Athabasca Oil Corp : Athabasca Oil Corporation upsizes Contingent Bitumen Royalty with Burgess Energy Holdings L.L.C. to $257 million . Athabasca Oil Corp - upsizing of previously completed Contingent Bitumen Royalty on its thermal assets for additional cash consideration of $128.5 million .Athabasca Oil Corp - incremental royalty proceeds are expected to be directed towards additional debt retirement.  Full Article

Athabasca Oil announces repayment of U.S.$221 mln term loan
Monday, 20 Jun 2016 06:00am EDT 

Athabasca Oil Corp : Athabasca Oil Corporation announces a $129 million contingent bitumen royalty and repayment of U.S.$221 million term loan . Concurrently, company has repaid its U.S.$221 million first lien term loan .Has reduced its outstanding corporate debt by approximately $250 million or 30 pct.  Full Article

Athabasca Oil resumes operations at Hangingstone
Tuesday, 24 May 2016 11:07am EDT 

Athabasca Oil Corp : Athabasca oil corporation resumes operations at Hangingstone . Says there has been no damage to Athabasca's assets . Expects reservoir to re-pressurize to normal operating levels over next several weeks with no anticipated long-term impacts . Prior to shutdown, production volumes reached in excess of 9,000 bbl/d .Resumed operations at Hangingstone following a shutdown on May 5th due to wildfires in fort McMurray region.  Full Article

Alberta Premier sees some oil production restarting in days
Tuesday, 10 May 2016 05:01pm EDT 

: Alberta Premier Rachel Notley says oil industry and province agree oil sands operations will only restart as soon as it is safe to do so . Alberta Premier says expects many companies will be able to restart operations in coming days and weeks ahead . Alberta Premier says delivery of goods by road through Fort McMurray to oil sands sites resumed on Tuesday . Suncor CEO Steve Williams says to the north of Fort McMurray industry will be able to resume operations in a quicker way . Suncor CEO says industry will support efforts around Fort McMurray hospital, pipelines, electrical distribution centre . Canadian Association of Petroleum Producers CEO Tim McMillan says timelines for restarts will range from days to weeks, potentially beyond that for some projects . Alberta Premier says need to secure safety, logistics, electrical power, pipeline access to oil sands sites . Alberta Premier says majority of Alberta oil sands production has stopped, if that continues for months will have measurable impact to GDP . Suncor CEO says no significant damage to oil pipelines found . Suncor CEO says enough camps in place in oil sands region to house workers to restart production . Suncor CEO says some oil sands facilities will restart 24 to 48 hours, others will be a week or two . Suncor CEO says most difficult plants to restart will be those in the south that fire got closest to . Alberta Premier says Nexen has not yet had a chance to assess Long Lake facility.  Full Article

Athabasca Oil Corp Q1 loss per share $0.16
Friday, 6 May 2016 08:29pm EDT 

Athabasca Oil Corp : Athabasca oil corporation reports 2016 first quarter results and director appointment . Reports 2016 Q1 results and director appointment . Q1 loss per share $0.16 . Q1 2016 corporate production averaged 13,348 boe/d, an increase of 15% over Q4 2015 and 127% year over year . Board has appointed Bob Rooney as an independent director . Paul Haggis and Peter Sametz will not be seeking re-election for board positions at next annual meeting . Board has appointed Bob Rooney as an independent director . Q1 petroleum and natural gas volumes 13,348 boe/d versus 5,877 boe/d .At this time, there is no damage to facility, field pipelines or well sites at hangingstone.  Full Article