Reuters logo
BRIEF-Athabasca Oil announces transformational acquisition of high quality thermal oil assets from Statoil ASA
December 14, 2016 / 10:27 PM / a year ago

BRIEF-Athabasca Oil announces transformational acquisition of high quality thermal oil assets from Statoil ASA

Dec 14 (Reuters) - Athabasca Oil Corp

* Athabasca Oil - Deal for consideration of $435 million cash, 100 million common shares and contingent value payments triggered at oil prices above $65/bbl WTI

* Athabasca Oil - Acquired assets include operating leismer thermal oil project, delineated corner lease and related strategic infrastructure

* Athabasca Oil - Acquisition is forecasted to be 275% and 60% accretive on 2017 and 2018 cash flow per basic share respectively

* Athabasca Oil Corp sees 2017 production in range of (boe/d) 38,000 - 42,000

* Athabasca Oil Corp- Cash component of purchase price will be sourced from existing cash balances

* Athabasca Oil - entered into agreements with statoil asa and its subsidiary Statoil Canada Ltd. to acquire its Canadian Thermal Oil assets

* Athabasca Oil Corporation announces transformational acquisition of high quality thermal oil assets from Statoil ASA Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below