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Athabasca 4Q: Derisking the Duvernay; First SAGD Project
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Athabasca Oil Corporation reported its fourth quarter and 2015 year-end financial and operating results in conjunction with its year-end reserves and resource information.
Athabasca achieved several significant strategic and operational milestones in both its Light Oil and Thermal Oil divisions despite exceptionally challenging external market conditions.
Key Points: In the Light Oil Division, Athabasca and industry continue to de-risk the Duvernay play at Kaybob with select areas transitioning to commercial operations. Recent D&C costs have averaged less than $10 million per well with a step-change in drilling times and pad completion efficiencies. Hangingstone - The Company commissioned its first SAGD project in 2015. Highlights: Corporate Production - 2015 production averaged 7,560…- ✓ Full news archive — U.S., Canada & international coverage
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