Athabasca Oil Corp
ATH
ISIN null / Valor 18598481
Athabasca Oil Corp
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About company
Athabasca Oil Corporation is a Canadian energy company primarily engaged in the extraction and production of liquid hydrocarbons. With its operations focused within Alberta, the company has positioned itself as a significant player in the development of the country's most active resource plays, namely the Duvernay and Oil Sands regions. Athabasca Oil boasts a production base of approximately 35,000 to 40,000 barrels of oil equivalent per day (boe/d), with a substantial majority of its output comprising liquids. The company's business is strategically divided into two main divisions: the Thermal Oil Division and the Light Oil Division. The Thermal Oil Division is noted for its role in ensuring a low corporate decline rate while generating considerable free cash flow, primarily through the exploitation of oil sands. On the other hand, the Light Oil Division focuses on achieving high-margin returns from the liquids-rich Montney and Duvernay shale plays. Athabasca Oil emphasizes its commitment to maximizing profitability through prudent capital activity, leveraging its diversified asset base which is characterized by a remarkable reserve life of approximately 90 years.
Summarized from source with an LLMView SourceSector: EnergyLatest Results (17.01.2026):
Athabasca Oil Corporation's Q3 2025 results show continued operational consistency, strong cash generation and active capital return. For the three months ended September 30, 2025 the company delivered consolidated production of 39,599 boe/d (98% liquids), Adjusted Funds Flow of $129.2 million ($0.26/sh), cash flow from operations of $157.4 million and Athabasca (Thermal Oil) Free Cash Flow of $56.2 million while progressing the Leismer expansion and maintaining an active share buyback program.
Key financials
Q3 2025 consolidated Adjusted Funds Flow was $129.2M ($0.26/share), cash flow from operations $157.4M, and net income $69.6M (basic EPS $0.14). Capital expenditures totaled $96.2M for the quarter.
Production
Consolidated production averaged 39,599 boe/d (98% liquids). Athabasca (Thermal Oil) bitumen averaged 36,590 bbl/d (Leismer ~27,763 bbl/d; Hangingstone ~8,827 bbl/d). Duvernay produced 3,009 boe/d (75% liquids).
Free cash flow and shareholder returns
Athabasca (Thermal Oil) Free Cash Flow was $56.2M in Q3; consolidated Free Cash Flow was ~$33.0M. The company bought back 34M shares YTD for $192M and has completed ~$675M of buybacks since March 31, 2023, committing to return 100% of 2025 Thermal Oil Free Cash Flow to shareholders.
Leismer expansion and capital program
Leismer progressive growth to 40,000 bbl/d remains on time and on budget: a $300M program (2025–27) with ~50% of project capital expected complete by year‑end 2025; Q3 Leismer capex was ~$61.5M.
Duvernay Energy (DEC) momentum
DEC reported strong initial rates from a four‑well pad (30% WI) with average IP30s ~1,050 boe/d per well; Q3 DEC Adjusted Funds Flow was $8.1M and DEC is targeting a year‑end exit of 5,500–6,000 boe/d.
Balance sheet and liquidity
As at Sept 30, 2025 Athabasca reported Net Cash of $93M, cash and equivalents of $334.6M and total liquidity of $466M (including $131.4M available credit); term debt maturity is long‑dated to 2029.
Operating netbacks and break‑evens
Q3 operating netbacks: Corporate $42.50/boe and Athabasca (Thermal Oil) $43.28/bbl. Management emphasizes low corporate break‑evens and long‑life, low‑decline assets supporting sustaining capital advantage.
2025 outlook
The company expects 2025 production at the upper end of guidance (37,500–39,500 boe/d), Thermal Oil ~35,500 bbl/d and DEC ~3,500 boe/d. Consolidated Adjusted Funds Flow for 2025 is forecast at $525–$550M and Thermal Oil Free Cash Flow at ~ $250M (planned for buybacks).
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
3142 M
Market cap (USD)
4,254,677
Daily traded volume (Shares)
5.195 / 5.05
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
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Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
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EPS (USD)
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Ratings & reviews
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