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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 Thermal Oil and Duvernay Energy. The Thermal Oil segment consists of two operating oil sands SAGD projects and a large resource base of exploration areas in the Athabasca region of northeastern Alberta. These projects provide Athabasca with a material low-decline production base that generates significant free cash flow for the business. The thermal assets use steam-assisted gravity drainage (SAGD), which is an enhanced oil recovery technology for producing bitumen. The Duvernay Energy operating segment includes the Company's assets, liabilities, and operations located primarily in the Greater Kaybob area near the town of Fox Creek, Alberta. Its light oil assets are held in a private subsidiary (Duvernay Energy Corporation) in which it owns a 70% equity interest.


TSX:ATH - Post by User

Post by smallcaptdron Mar 28, 2023 7:15pm
315 Views
Post# 35365752

Draw on Oil bullish...

Draw on Oil bullish...It looks like supporting Europe with tankers brimming with Oil is wearing on US stock. This draw of -6Mil barrels to me doesn't reflect the global Oil supply tightening this shows me that the US is tightening up while Russia and other countries focus on Asia, China, and India keeping them in the Oil but if Kurdistan 450,000 bpd isn't replaced through other channels than the market could tighten but I can't see it going too long before someone else turns up the tap to capitalize. This week has started out on a bullish push higher and if nothing negative hits the headlines Oil should continue. The timing of having no US Data has given Oil free-range to travel when bullish events happen and maybe we'll see $75+ tomorrow. Thur night 9:30pm China releases Manufacturing PMI with Fri riddled with D
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