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

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Post by smallcaptdron Jul 08, 2022 2:54pm

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Post# 34811721

Total Rigs in the US and Canada is strong

Baker Hughes Total Rigs numbers rebounded to 752 from 750 and 753 was a 27-month high posted 2 weeks ago showing that there's a lot going on as far as Rigs actively exploring or developing Oil and Natural Gas in the US and Canada and this will only help to increase the amount of Oil being produced eventually adding to Oil inventory. I still don't understand today's move on Oil heading higher.

Baker Total Rig count
https://tradingeconomics.com/united-states/total-rigs

Also today the number of Crude Oil Rigs in the US increased to 597 the highest of the year so how can we be short of Oil?

https://tradingeconomics.com/united-states/crude-oil-rigs

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