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Athabasca Oil Announces 2025 Second Quarter Results Highlighted by Strong Operational Results, Continued Share Buybacks and a Pristine Financial Position
CALGARY, Alberta, July 24, 2025 (GLOBE NEWSWIRE) -- Athabasca Oil Corporation (TSX: ATH) (“...
About this update from Athabasca Oil Corporation
[{"type":"text","content":"Athabasca Oil Announces 2025 Second Quarter Results Highlighted by Strong Operational Results, Continued Share Buybacks and a Pristine Financial Position\n\n\n\n CALGARY, Alberta, July 24, 2025 (GLOBE NEWSWIRE) -- Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its second quarter results marked by strong operational performance, consistent financial results and execution on return of capital commitments. With low corporate break-evens, differentiated long-life assets and a pristine balance sheet, the Company is well positioned to advance its strategic priorities.\n \n\n\n\n Q2 2025 Consolidated Corporate Results\n \n\n\n\n\n\n Production:\n \n Average production of 39,088 boe/d (98% Liquids), representing 4% (15% per share) growth year-over-year.\n \n\n\n Cash Flow:\n \n Adjusted Funds Flow of $128 million ($0.25 per share). Cash Flow from Operating Activities of $101 million. Free Cash Flow of $66 million from Athabasca (Thermal Oil).\n \n\n\n Capital Program:\n \n $73 million total capital expenditures including $54 million at Leismer to support the 40,000 bbl/d phased growth project.\n \n\n\n Shareholder Returns:\n \n Purchased 24 million shares through its buy-back program year-to-date. The Company is committed to returning 100% of Free Cash Flow (Thermal Oil) to shareholders in 2025 and has completed ~$600 million in share buybacks since March 31, 2023, reducing its fully diluted share count by 21%.\n \n\n\n\n\n Operations Highlights\n \n\n\n\n\n\n Leismer:\n \n Production currently ~28,000 bbl/d (June 2025) with four sustaining well pairs expected to be placed on production through the balance of the year. The progressive growth project remains on time and on budget. The Company expects production to stay flat until the next growth plateau of 32,000 bbl/d in H2 2026.\n \n\n\n Hangingstone:\n \n Production currently ~8,900 bbl/d (June 2025) following the start-up of two extended reach well pairs which are outperforming management’s expectations. The asset continues to deliver meaningful free cash flow generation.\n \n\n\n Duvernay Energy (“DEC”):\n \n A four well pad (30% working interest) with ~5,000 meter laterals was completed in mid July and will be placed on production in August. Completion operations are expected to commence on a...