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Athabasca Announces 2015 Budget, Guidance
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Athabasca Oil Corporation's Board of Directors has approved an initial 2015 capital budget of $266 million which includes $58 million of carryover from the 2014 budget.
Athabasca's capital budget aligns with its strategic priorities, including delivering near-term production and cash flow growth from its cornerstone Kaybob Duvernay and Hangingstone assets and maintaining a strong balance sheet with flexibility to respond to economic cycles. The 2015 capital program is fully funded, with Athabasca anticipating an ending 2014 funding position of approximately $1.3 billion , including cash, undrawn credit facilities and promissory notes receivable.
Maintaining balance sheet strength is a key priority and Athabasca views its balance sheet as a competitive asset. As a…
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