CALGARY, Alberta, Sept. 14, 2023 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to announce that it has closed its previously announced sale of non-core Light Oil assets at Placid, Saxon and Simonette to a private company (the “Transaction”).

Transaction Overview

Athabasca has sold its 70% operated working interest in Placid targeting the Montney, its 30% non‐operated working interest in Saxon and Simonette targeting the Duvernay and other associated non-core Placid Montney assets to a private company for $160 million in cash before closing adjustments. During the first half of 2023, these assets collectively … Continue Reading

CALGARY, Alberta, July 31, 2023 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to announce that it has entered into a definitive agreement to sell non-core Light Oil assets for total cash proceeds of $160 million (the “Transaction”). The Transaction high-grades the Company’s deep resource portfolio, crystallizes value from a non-core asset at an attractive price and bolsters the Company’s strong financial position.

Transaction Overview

Athabasca has agreed to sell its 70% operated working interest in Placid targeting the Montney, its 30% non-operated working interest in Saxon and Simonette targeting the Duvernay and other … Continue Reading

CALGARY, Alberta, July 26, 2023 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its second quarter results highlighted by continued operational momentum at Leismer, strong Free Cash Flow and execution on its return of capital commitment through share repurchases. Athabasca is uniquely positioned as a low leveraged company generating significant Free Cash Flow through its low-decline, oil weighted asset base.

Q2 2023 and Recent Corporate Highlights

CALGARY, Alberta, May 16, 2023 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) advises that due to the ongoing Alberta wildfires, the Company has shut-in two of its facilities at Kaybob within its Light Oil operations. The facilities have been shut-in as a precautionary measure due to changing wildfire conditions and the Company is not aware of damage to its well sites or associated infrastructure. The Company estimates ~2,300 boe/d of temporary production downtime. The situation is dynamic and production will be restored when the area is safe and the Company is permitted to do so.… Continue Reading

CALGARY, Alberta, May 11, 2023 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) announces that all matters presented for approval at the Annual General Meeting of Shareholders held May 11, 2023 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 proxies received for each director nominee, which was conducted by ballot, are as follows:

CALGARY, Alberta, May 10, 2023 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its first quarter results showcasing operational momentum at its cornerstone Leismer asset, continued debt reduction and execution on its return of capital commitment through inaugural share repurchases. Athabasca is uniquely positioned as a low leveraged company generating significant Free Cash Flow through its low-decline, oil weighted asset base.

Q1 2023 and Recent Corporate Highlights

CALGARY, Alberta, March 14, 2023 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to announce that the Toronto Stock Exchange (“TSX”) has approved the Corporation’s normal course issuer bid (“NCIB”) to purchase up to 57,967,089 common shares during the 12-month period commencing March 16, 2023 and ending March 15, 2024 or such earlier time as the NCIB is completed or terminated at the option of Athabasca.

Athabasca’s launch of a NCIB is based on the strength of the balance sheet and the Company’s commitment to augment shareholder returns through a buyback program. The Company’s … Continue Reading

CALGARY, Alberta, March 01, 2023 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its audited 2022 year-end results. Athabasca is uniquely positioned as a low leveraged company generating significant Free Cash Flow through its low-decline, oil weighted asset base.

Q4 and Year-end 2022 Corporate Highlights

CALGARY, Alberta, Dec. 07, 2022 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or “the Company”) is pleased to announce its 2023 budget and return of capital strategy, focused on Free Cash Flow generation and shareholder returns.

2023 Budget and Guidance Highlights

Capital Program. Athabasca is planning expenditures of ~$145 million ($120 million Thermal Oil & $25 million Light Oil) with activity primarily focused on sustaining and growth projects at Leismer, a Montney pad in Placid and routine maintenance across the portfolio.
Resilient Production. The portfolio of long reserve life assets underpins a low corporate decline rate of ~5% … Continue Reading

CALGARY, Alberta, Nov. 02, 2022 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its 2022 third quarter results with record Adjusted Funds Flow, strong Free Cash Flow and material deleveraging. Athabasca is uniquely positioned as a low leveraged company generating significant Free Cash Flow through its low-decline, oil weighted asset base.

Q3 Corporate Highlights

CALGARY, Alberta, Sept. 15, 2022 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is proud to announce its inclusion in the 2022 TSX30™ ranking of the Toronto Stock Exchange’s (“TSX”) 30 top-performing stocks based on share price appreciation over a three-year period from June 30, 2019 to June 30, 2022.

The 2022 TSX30 class exemplifies resilience and adaptability amidst a volatile market which required companies to successfully navigate the COVID-19 pandemic, shocks to global supply chains, uncertain geopolitical stability, and evolving work conditions. Athabasca is proud to be among the top 30 companies on this year’s … Continue Reading

CALGARY, Alberta, July 27, 2022 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its 2022 second quarter results with continued significant Free Cash Flow and material deleveraging. Athabasca is uniquely positioned as a low leveraged company generating significant Free Cash Flow through its low-decline, oil weighted asset base.

Q2 Corporate Highlights