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Athabasca Oil Corp (ATH.TO)

ATH.TO on Toronto Stock Exchange

1.85CAD
17 Feb 2017
Change (% chg)

$0.01 (+0.54%)
Prev Close
$1.84
Open
$1.82
Day's High
$1.86
Day's Low
$1.81
Volume
919,092
Avg. Vol
1,989,258
52-wk High
$2.14
52-wk Low
$0.91

Latest Key Developments (Source: Significant Developments)

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

Athabasca Oil Corp announces C$475 million light oil joint venture with Murphy Oil
Wednesday, 27 Jan 2016 05:15pm EST 

Athabasca Oil Corp:Announces C$475 million light oil joint venture with Murphy Oil.Agreement with Murphy Oil Co unit to Murphy Oil Corp to form strategic joint venture to develop duvernay,montney in kaybob area.Deal for C$475 million net (C$800 million gross) consideration.Unit will pay approximately C$250 million in cash to Athabasca at closing.Says Athabasca will retain operatorship of the regional midstream infrastructure in the near term.Additional consideration of C$225 million will be in form of capital carry in duvernay.Murphy will fund 75% of athabasca's share of development capital up to a maximum five year period.Under deal,says co is selling a 70% working interest in production, acreage and infrastructure within the greater kaybob area.  Full Article

Athabasca Oil Corp Provides Operations Update
Monday, 28 Sep 2015 06:00am EDT 

Athabasca Oil Corp:Provides operations update.Says has already achieved the low-end of its 2015 year-end thermal oil exit guidance of 3,000 - 6,000 bbl/d.Reiterates 2015 light oil capital guidance of $203 million and exit rate guidance of 7,000-8,000 boe/d (December average).Says anticipates 2015 year-end funding in place in excess of $800 million.Production is expected to ramp up to the planned 12,000 bbl/d in Q4 2016 with no additional development capital required.Says bitumen production has averaged 3,200 bbl/d to date in September with current production in excess of 4,000 bbl/d.Says completions operations in the duvernay are expected in October with an on-stream date in Q1 2016.  Full Article

Athabasca Oil Corp reiterates FY 2015 corporate exit guidance
Monday, 10 Aug 2015 08:00am EDT 

Athabasca Oil Corp:Says that it reiterates its FY 2015 corporate exit guidance of 10,000 - 14,000 boe/d.  Full Article

More From Around the Web

BRIEF-Athabasca Oil upsizes Contingent Bitumen Royalty with Burgess Energy Holdings to $257 mln

* Athabasca Oil Corporation upsizes Contingent Bitumen Royalty with Burgess Energy Holdings L.L.C. to $257 million