Athabasca Oil Reports 2026 Third Quarter Results
Key Highlights
- ➤Cenovus to acquire Athabasca for $12.00 per share in a $5.7 billion transaction
- ➤Q3 adjusted funds flow $161 million, up 31% from Q2 and 25% year over year
- ➤Q3 production 38,602 boe/d, up 20% from Q2, with 98% liquids
- ➤Athabasca held $82 million net cash and $838 million liquidity at quarter-end
- ➤Leismer expansion remains on schedule for 40,000 bbl/d production by year-end 2027
Expert Statements
Robert Broen, President and CEO of Athabasca Oil Corporation
“The Company reported third quarter results highlighted by continued execution of its funded growth strategy.”
CALGARY, Alberta, Oct. 28, 2026 (GLOBE NEWSWIRE) -- Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) reported third quarter results highlighted by continued execution of its funded growth strategy.
Q3 2026 Corporate Consolidated Results * Production: Production of 38,602 boe/d (98% Liquids), represents a 20% increase from Q2, following planned turnarounds during Q2. * Cash Flow: Adjusted Funds Flow of $161 million ($0.33 per share), representing 31% growth from Q2 and 25% year over year. Cash flow from operating activities of $115 million. Free Cash Flow of $71 million from Athabasca (Thermal Oil). * Netbacks: Quarterly Operating Netback of $59/bbl in Thermal Oil and $55/boe in Duvernay Energy. * Capital Program: Total capital expenditures of $112 million, including $54 million at Leismer to support the expansion project and $38 million in Duvernay development. * Balance Sheet: $82 million Net Cash position with Liquidity of $838 million. * Outlook: At Leismer, two new steam generators were commissioned at the end of October, and seven well pairs are currently being steamed. The expansion continues to advance toward production of 40,000 bbl/d by year-end 2027. A three-well operated Duvernay pad was also completed and is expected to be placed on production in November. Cenovus Transaction
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