Recent transactions (Murphy JV, bitumen royalty sale, term loan repayment) improve ATH’s liquidity ahead of a $550 mm debt maturity next year, with possible partial repayment YE16e. Hangingstone appears on track to near nameplate capacity by year-end. The 2H16e budget increased $60 mm to drill 12 new Placid Montney wells. Our estimates have been updated in lieu of new Light Oil division guidance for 2016e and beyond. Upgrading to Outperform. The shares are being discounted due to uncert
11 Aug 2016
2Q16 Results, Increased Montney Spending
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
2Q16 Results, Increased Montney Spending
Athabasca Oil Corporation (ATH:TSE) | 0 0 -2.8% | Mkt Cap: 535.3m
- Published:
11 Aug 2016 -
Author:
Michael P. Dunn -
Pages:
12
Recent transactions (Murphy JV, bitumen royalty sale, term loan repayment) improve ATH’s liquidity ahead of a $550 mm debt maturity next year, with possible partial repayment YE16e. Hangingstone appears on track to near nameplate capacity by year-end. The 2H16e budget increased $60 mm to drill 12 new Placid Montney wells. Our estimates have been updated in lieu of new Light Oil division guidance for 2016e and beyond. Upgrading to Outperform. The shares are being discounted due to uncert