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.

TSX:ATH - Post by User

Athabasca Oil Corp

Bullboard Posts

Comment by TheMechanic2020on May 19, 2020 5:18pm

127 Views

Post# 31048379

RE:RE:ATH vs BTE: Who's more likely to go bankrupt?

Thanks Chris. That was a helpful reply.

No need to answer if you don't want, but out of curiosity, do you have a position in either ATH or BTE? Or are you mainly sticking to the mid-caps and large caps?

Chris007 wrote:

TheMechanic2020 wrote: I'd like to invest more in either ATH or BTE. Based on all of your expert opinions, which one do you think is more likely to survive, and what odds of bankruptcy would you assign for each company?

Obviously both ATH and BTE can both be classified as "distressed".

Baytex's 2027 notes are currently priced at 49.75 cents on the dollar (24.034% YTM)
Athabasca's 2022 notes currently priced at 22.22 cent on the dollar (125.25% YTM)

Baytex has a bit more leeway in regard to bankruptcy fears, as they have managed to roll over their debt (2021 notes to 2027) and they redeemed their 2022 notes with borrowing on their revolving credit facility/term loan

If you do decide to play the small caps, diversification is definitely your friend. That being said, if you already own ATH and BTE, why not put you money into another company instead.