Brief: Athabasca Oil Announces 2023 Budget And Return Of Capital Strategy

Athabasca Oil

07/12/2022 22:55

Dec 7 (Reuters) - Athabasca Oil Corp  ATH.TO :
    * ATHABASCA OIL ANNOUNCES 2023 BUDGET AND RETURN OF CAPITAL
STRATEGY
    * ATHABASCA OIL CORP - PLANNING EXPENDITURES OF ABOUT $145
MILLION
($120 MILLION THERMAL OIL & $25 MILLION LIGHT OIL) FOR 2023
    * ATHABASCA OIL - IN 2023, PLANS TO MAINTAIN YEAR-OVER-YEAR
CORPORATE PRODUCTION WITH GUIDANCE OF 34,500 - 36,000 BOE/D AND
GROWTH TO MATERIALIZE INTO 2024
    * ATHABASCA OIL CORP - ANTICIPATES GENERATING ABOUT $415
MILLION
OF ADJUSTED FUNDS FLOW AND ABOUT $270 MILLION OF FREE CASH FLOW
IN 2023
    * ATHABASCA OIL CORP - FORECASTS ABOUT $1.1 BILLION IN FREE
CASH
FLOW DURING THREE YEAR TIMEFRAME OF 2023-25
    * ATHABASCA OIL CORP - COMPANY IS ON TRACK TO ACHIEVE ITS
STATED
TARGET OF A 30% REDUCTION IN EMISSIONS INTENSITY BY 2025

Source text for Eikon:  ID:nGNX72TNJL 
Further company coverage:  ATH.TO 
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