Brief: Athabasca Oil Announces 2024 Budget And Return Of Capital Update

Athabasca Oil

06/12/2023 23:31

Dec 6 (Reuters) - Athabasca Oil Corp  ATH.TO :
    * ATHABASCA OIL ANNOUNCES 2024 BUDGET AND RETURN OF CAPITAL
UPDATE
    * ATHABASCA OIL CORP: PLANS TO GROW PRODUCTION TO ABOUT
37,500
BOE/D BY YEAR-END 2024
    * ATHABASCA OIL CORP- IS PLANNING CAPITAL EXPENDITURES OF
$175
MILLION FOR 2024
    * ATHABASCA OIL CORP -  DURING TIMEFRAME OF 2024 - 2026,
ATHABASCA
FORECASTS GREATER THAN $1 BILLION IN FREE CASH FLOW
    * ATHABASCA OIL CORP: ANNUAL PRODUCTION GUIDANCE IS 35,000 -
36,000 BOE/D (ABOUT 98% LIQUIDS) FOR 2024
    * ATHABASCA OIL CORP-  ATHABASCA ANTICIPATES GENERATING
ABOUT $500
MILLION OF ADJUSTED FUNDS FLOW AND ABOUT $325 MILLION OF FREE
CASH FLOW IN 2024
    * ATHABASCA OIL- ANTICIPATES TIGHTENING OF WCS HEAVY
DIFFERENTIALS
FROM CURRENT LEVELS AS TRANS MOUNTAIN EXPANSION PIPELINE
COMMENCES OPERATIONS IN 2024
    * ATHABASCA OIL : GROWTH TO BE WEIGHTED TO H2 2024 AS
LEISMER
EXPANSION PROJECT EXPECTED TO BE COMPLETED MID-YEAR, DUVERNAY
PRODUCTION ADDITIONS IN FALL
    * ATHABASCA OIL CORP: ESTIMATES 2023 YEAR-END LIQUIDITY OF
ABOUT
$455 MILLION, INCLUDING CASH OF ABOUT $370 MILLION
    * ATHABASCA OIL CORP: WILL DRILL AN ADDITIONAL EIGHT WELLS
IN 2024
    * ATHABASCA OIL CORP - IN 2024, ATHABASCA PLANS TO ALLOCATE
100%
OF FREE CASH FLOW TO SHAREHOLDERS THROUGH SHARE BUYBACKS

Source text for Eikon:  ID:nGNX9XnQZJ 
Further company coverage:  ATH.TO 

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