Brief: Athabasca Oil Corporation Announces Sale Of Non-Core Light Oil Assets For $160 Mln

Athabasca Oil

01/08/2023 24:49

July 31 (Reuters) - Athabasca Oil Corp  ATH.TO :
    * ORATION ANNOUNCES SALE OF NON-CORE LIGHT OIL ASSETS FOR
$160
MILLION; RETAINS STRATEGIC DUVERNAY ASSETS WITH 500 FUTURE
DRILLING LOCATIONS
    * ATHABASCA HAS AGREED TO SELL ITS 70% OPERATED WORKING
INTEREST
IN PLACID
    * TRANSACTION FURTHER STRENGTHENS THE COMPANY’S BALANCE
SHEET WITH
PRO FORMA NET CASH POSITION OF ABOUT $90 MILLION
    * ATHABASCA OIL- DEAL NOT ANTICIPATED TO MATERIALLY IMPACT
CO'S
GROWTH AMBITIONS, ABOUT $1 BILLION FORECASTED FREE CASH FLOW
OUTLOOK DURING 2023-25

Source text for Eikon:  ID:nGNX2136n2 
Further company coverage:  ATH.TO 

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