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Athabasca Oil Announces 2022 First Quarter Results including Record $44 million Free Cash Flow, $110 million in Debt Redemptions and releases its Annual ESG Report streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Athabasca Oil Announces 2022 First Quarter Results including Record $44 million Free Cash Flow, $110 million in Debt Redemptions and releases its Annual ESG Report wallstreet-online.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wallstreet-online.de Daily Mail and Mail on Sunday newspapers.
(1) Refer to the “Reader Advisory” section within this news release for additional information on Non-GAAP Financial Measures and production disclosure. (2) Includes realized commodity risk management loss of $17.8 million and $38.9 million for the three and six months ended June 30, 2021 (three and six months ended June 30, 2020 - $24.4 million and $45.9 million gains). (3) Includes available credit under Athabasca’s Credit Facility and Unsecured Letter of Credit Facility (see page 14 of the Company’s Q2 MD&A). (4) The face value of the 2022 Notes is US$450 million. The 2022 Notes were translated into Canadian dollars at the June 30, 2021 exchange rate of US$1.00 = C$1.2394 (December 31, 2020 – C$1.2732). Operations Update ....
(1) Refer to the “Reader Advisory” section within this press release for additional information on Non-GAAP Financial Measures and production disclosure. (2) Includes realized commodity risk management loss of $9.4 million and gain of $29.1 million for the three months and year ended December 31, 2020, respectively (three months and year ended December 31, 2019 - $2.1 million loss and $44.0 million loss). (3) Includes available credit under Athabasca s Credit Facility and Unsecured Letter of Credit Facility (see page 15 of the MD&A). (4) The face value of the 2022 Notes is US$450 million. The 2022 Notes were translated into Canadian dollars at the December 31, 2020 exchange rate of US$1.00 = C$1.2732 (2019 – C$1.2965). Operations Update Thermal Oil ....
Low Sustaining Capital. Athabasca is planning expenditures of $75 million focused on sustaining projects at Leismer along with routine maintenance activities at all properties. Capital will be allocated $70 million to Thermal Oil and the remainder to Light Oil. Resilient Production. Annual corporate production of 31,000 – 33,000 boe/d (90% liquids) which maintains annual 2020 production estimated to average approximately 32,250 boe/d. Thermal Oil Activity. At Leismer, two infill wells at Pad L6 and an additional well pair at Pad L7 will be drilled in early 2021. These wells will support production in H2 2021 with payouts within one year at current commodity prices. The Company will progress readiness (long lead items, lease site and road construction, pipeline access) for a 5 well-pair sustaining pad (L8) with the option to initiate drilling during this winter season. The sanctioning of capital to drill these wells will be determined at a later date an ....