Athabasca Oil Corporation has reported 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.
Athabasca Oil Corporation is pleased to provide an update on its midstream process, preliminary 2019 capital guidance expectations and its recent reductions in corporate costs.
Athabasca Oil Corporation has entered into agreements with Statoil ASA and its wholly owned subsidiary Statoil Canada Ltd. to acquire its Canadian Thermal Oil assets for consideration of $435 million cash, 100 million common shares and contingent value payments triggered at oil prices above US$65/bbl WTI.
Athabasca Oil announces C$475 million (net) light oil joint venture with Murphy Oil and exceeds 2015 corporate exit guidance
Athabasca Oil Corporation has announced that it has entered into an agreement with Murphy Oil Company Ltd. (Canadian subsidiary to Murphy Oil Corporation) to form a strategic joint venture to develop the Duvernay and Montney in the Kaybob area.