Athabasca Oil Sees Strong Growth Momentum in Q2 Results

Athabasca Oil Corporation reported its second quarter results for 2026, highlighting continued execution of its funded growth strategy. The company advanced the Leismer expansion and commenced the staged start-up of the next growth well pairs. Corner development activities are progressing as planned, with project sanction expected following confirmation of details under the Government of Alberta’s new fiscal framework to enable oil sands growth.

The Company remains focused on executing fully funded growth while maintaining balance-sheet strength and prioritizing per-share value creation. In the second quarter, Athabasca Oil reported production of ~40,000 boe/d (July) with average quarterly production of 32,110 boe/d (97% Liquids). The company's cash flow from operating activities was $134 million.

Athabasca also reported strong netbacks of $49/bbl in Thermal Oil and $70/boe in Duvernay Energy. The Company closed a new $500 million four-year covenant-based credit facility while Duvernay Energy increased its reserve-based facility to $75 million, expanding financial flexibility and lowering the Company’s cost of capital.