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Athabasca Oil Announces 2025 First Quarter Results Highlighted by 63% Growth in Funds Flow Per Share and Strong Operational Execution Driving a Robust Return of Capital Program
CALGARY, Alberta, May 07, 2025 (GLOBE NEWSWIRE) -- Athabasca Oil Corporation (TSX: ATH) (“...
About this update from Athabasca Oil Corporation
[{"type":"text","content":"Athabasca Oil Announces 2025 First Quarter Results Highlighted by 63% Growth in Funds Flow Per Share and Strong Operational Execution Driving a Robust Return of Capital Program\n\n\n\n CALGARY, Alberta, May 07, 2025 (GLOBE NEWSWIRE) -- Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its first quarter results highlighted by strong operational execution driving robust return of capital with the full completion of its second annual share buyback program. The Company is in an enviable position to weather market volatility with low corporate break-evens, long-life assets and a pristine balance sheet.\n \n\n\n\n Q1 2025 Consolidated Corporate Results\n \n\n\n\n\n\n Production:\n \n Average production of 37,714 boe/d (98% Liquids), representing 13% (24% per share) growth year over year.\n \n\n\n Cash Flow:\n \n Adjusted Funds Flow of $130 million ($0.25 per share), representing 63% per share growth year over year. Cash Flow from Operating Activities of $123 million. Free Cash Flow of $71 million from Athabasca (Thermal Oil).\n \n\n\n Capital Program:\n \n $63 million total capital expenditures, with $44 million at Leismer as the Company advances the 40,000 bbl/d progressive growth project.\n \n\n\n\n\n\n\n Operations Highlights\n \n\n\n\n\n\n Leismer:\n \n Production of ~28,000 bbl/d (April 2025) following the start-up of six redrills in the first quarter. Four additional new well pairs will be brought on stream in H2 2025 to maintain production rates at facility capacity.\n \n\n\n Hangingstone:\n \n Production has increased to ~8,900 bbl/d (April 2025) following the start-up of two well pairs. The project continues to deliver meaningful free cash flow generation for the Company.\n \n\n\n Duvernay Energy:\n \n Two multi-well pads (seven gross wells) are slated to be completed post break-up and will continue operational momentum in the Kaybob Duvernay play. Capital is trending ~$10 million lower than the 2025 budget at an estimated ~$75 million.\n \n\n\n\n\n\n\n Resilient Producer in a Shifting Global Landscape\n \n\n\n\n\n\n Macro Volatility:\n \n Global oil benchmarks have softened in recent months in response to an accelerated OPEC+ supply outlook and evolving U.S. trade policy. Athabasca is uniquely positioned to withstand market volatility and its production is US...