Athabasca Oil Corp T.ATH

Alternate Symbol(s): ATHOF

Energy Oil & Gas E&P

Athabasca Oil Corporation (AOC) is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. AOC’s segments include Light Oil and Thermal Oil. The Thermal Oil segment includes the Company’s assets, liabilities and operating results for the exploration, development and production of bitumen from sand and carbonate rock formations located in the Athabasca region of Northern Alberta. It also consists of two operating oil sands steam assisted gravity drainage projects and a resource base of exploration areas in the Athabasca region of northeastern Alberta. The Light Oil segment includes its assets, liabilities and operating results for the exploration, development and production of light crude oil and medium crude oil, tight oil and conventional natural gas. Its Light Oil segment consists exclusively of the Duvernay in the Greater Kaybob area with about 155,000 gross acres across Kaybob West, Kaybob North, Kaybob East and Two Creeks.

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Athabasca Oil Corp > Stat is gone from Calgary

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Comment by Chris007on Jan 13, 2021 1:17pm

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Post# 32285889

RE:RE:RE:RE:RE:RE:Stat is gone from Calgary

Indeed, the 21,000 BOEs are from working interest in other maritime offshore projects operated by Suncor and Exxon:

Suncor-operated Terra Nova (15%) producing asset

ExxonMobil-operated Hebron (9%) producing asset

ExxonMobil-operated Hibernia (5%) producing asset/Hibernia Southern Extension (9%)

I'm sure it could probably be run just as well from Norway, as in Newfoundland.

That being said, previous to covid, they and Husky (65/35 working interest split) were very much working together to develop the Bay Du Nord Project. That being said, who knows what happens from here, especially now that Husky will soon cease to exist.

Maxmoe wrote: You should read the entire link you sent me, not just the headline of buzzwords from the PR lawyer wordsmiths. They don't operate anything in Canada. Period. They claim to "operate" some discoveries, but as you know, a discovery doesn't have any production or "operations". Their entire 21,000 b/d of production they claim is from their very small interest in Exxon and suncor operated fields. A junior accountant in Oslo could "run" their Canadian "operations" and probably does

Chris007 wrote: Indeed, they left the oil sands, long ago (hence the sale of assets to ATH).

As pointed out, they are still very much present, in Canada, operating offshore in the maritimes.

That being said, Equinor itself is undergoing an internal reoriganization of its business units:

https://www.equinor.com/en/news/20201116-structure.html

It looks like they have a new incoming CFO, as well:

https://www.equinor.com/en/news/20201216-appoints-cfo.html

fellowship wrote:

Maxmoe wrote:
They left Canada years ago so it's not news at all. They have no operations in Canada so I'm not sure why they haven't closed all their offices here. Seems like a waste of money to me, but it's not my money.

fellowship wrote: Has nothing to do with anything. They are not leaving Canada. Only consolidating their offices.

They are operators in St. Johns as per their website.
https://www.equinor.com/en/where-we-are/canada.html