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Athabasca Oil Corp T.ATH

Alternate Symbol(s):  ATHOF

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

Comment by bosstradeon Sep 30, 2021 4:34am
305 Views
Post# 33942195

RE:RE:Enbridge says Line 3 replacement complete, opens Friday

RE:RE:Enbridge says Line 3 replacement complete, opens FridayAtH Management never discloses anything, but their sale to Enbridge migh supply them with additional access to line 3 at discounted rates which could be massive.

Athabasca has entered into an agreement with Enbridge Inc. (“Enbridge”) for the sale of its Leismer pipelines and Cheecham storage terminal (“Leismer Infrastructure Transaction”). Enbridge has been a key partner with Athabasca across its Thermal Oil business unit and the Company looks forward to continuing this long term strategic relationship. The transaction unlocks tremendous value for shareholders while preserving strategic flexibility for the long term development of Athabasca’s high quality Leismer and Corner assets, each of which have regulatory approval for 40,000 bbl/d and a reserve life in excess of 80 years. Key elements of the transaction include:

  • $265 million cash consideration with an annual toll of ~$26 million
  • Priority service on pipelines and dilbit/diluent tanks; excess volumes receive a discounted toll
  • Enhanced credit terms with Enbridge across the Thermal Oil business
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