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CALGARY, Alberta, Nov. 07, 2018 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to provide its 2018 third quarter results and an operations update. Q3 2018 Results and Operational Highlights Consolidated Results – Strength in Execution Production of 40,612 boe/d (88% liquids), representing 12% growth year over year Record adjusted funds flow of $62.2 million ($0.12/sh) and operating income of $83.7 million Capital expenditures of $52.4 million; 75% weighted to high margin Light Oil activity Net debt of $372 million and available funding capacity of $356 million Light Oil – High Margin Liquids Rich Growth Production of 10,135 boe/d, representing 29% growth year over year Operating income of $29.8 million, representing 117% growth year over year Top tier netbacks of $31.95/boe supported by high liquids (51%) and low lifting costs ($7.52/boe) Placid Montney: multi-well pad tie-in underway with a single drilling rig active in the field Duvernay: strong results with 937 boe/d IP30s (91% liquids) on a recent multi-well volatile oil pad Thermal Oil – Low Decline Production Production of 30,477 bbl/d, representing 8% growth year over year Operating income of $62.3 million and free cash flow of $48.6 million Reduced non-energy costs […]
