Brief: Athabasca Oil Announces Further Hangingstone Cost Reductions

Athabasca Oil

10/05/2021 13:13

May 10 (Reuters) - Athabasca Oil Corp  ATH.TO :
    * ATHABASCA OIL CORPORATION ANNOUNCES FURTHER HANGINGSTONE
COST
REDUCTIONS
    * ATHABASCA OIL CORP - EXECUTED AN AMENDING HANGINGSTONE
TRANSPORTATION AND STORAGE SERVICES AGREEMENT ("TSSA")
    * ATHABASCA OIL CORP - TSSA RESULTED IN A $44 MILLION
PREPAYMENT
FROM RESTRICTED CASH AND ABOUT $5 MILLION REDUCTION TO ANNUAL
TOLLS
    * ATHABASCA OIL CORP - COST STRUCTURE IS EXPECTED TO BE
REDUCED BY
UP TO $10 MILLION ANNUALLY
    * ATHABASCA OIL - REDUCTION IN FINANCIAL ASSURANCES UNLOCKED
RESTRICTED CASH ON BALANCE SHEET THAT WAS CONCURRENTLY USED TO
FUND AMENDING PREPAYMENT

Source text for Eikon:  ID:nGNX4TFMRs 
Further company coverage:  ATH.TO 

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