Athabasca Oil Reports Record Cash Flow and Reserves Growth

Athabasca Oil Corporation ( (ATHOF) ) has released its Q4 earnings. Here is a breakdown of the information Athabasca Oil Corporation presented to its investors.

Athabasca Oil Corporation is a Canadian energy company focused on developing thermal and light oil assets in Alberta’s Western Canadian Sedimentary Basin, with a significant land base and a 70% equity interest in Duvernay Energy Corporation.

In 2024, Athabasca Oil Corporation reported record cash flow and significant reserves growth, with a focus on maximizing cash flow per share growth through competitive projects and a return of capital strategy. The company achieved a 7% increase in annual production and a 102% growth in adjusted funds flow per share.

Key financial highlights include an annual production of 36,815 boe/d, adjusted funds flow of $561 million, and a net cash position of $123 million. The company allocated 100% of its free cash flow to share buybacks, completing $317 million in repurchases. Athabasca also reported a 35% increase in the net present value of its 2P reserves, totaling $6.4 billion.

Looking ahead, Athabasca Oil Corporation maintains its 2025 guidance with a focus on thermal oil production and capital investments in Leismer and Duvernay Energy Corporation. The company forecasts significant free cash flow generation and aims to continue its share buyback strategy, reflecting a strong outlook for cash flow per share growth.

Athabasca’s management remains committed to leveraging its competitive position in the energy market, with plans to invest in growth initiatives and maintain financial resilience amid potential macroeconomic challenges.