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BRIEF-Athabasca Oil Corporation Halts 2020 Capital Program

Published 2020-03-20, 08:07 a/m
© Reuters.

March 20 (Reuters) - Athabasca Oil Corp ATH.TO :

* ATHABASCA OIL CORPORATION HALTS 2020 CAPITAL PROGRAM

* ATHABASCA OIL CORP - IMMEDIATELY CANCELLED $30 MILLION OF CAPITAL EXPENDITURES, REPRESENTING A 25% REDUCTION FROM PREVIOUSLY ANNOUNCED 2020 BUDGET

* ATHABASCA OIL CORP - COMPANY HAS COMPLETED TIE-IN OF 10 PLACID MONTNEY WELLS AND INTENDS TO BRING PRODUCTION ON-STREAM IN Q2 2020

* ATHABASCA OIL CORP - KAYBOB DUVERNAY PROGRAM IS NEARING COMPLETION WITH 16 WELLS EXPECTED TO BE PLACED ON-STREAM IN H1 2020

* ATHABASCA OIL CORP - WORKING INTEREST REMAINS PROTECTED BY CAPITAL CARRY THROUGH Q1 2020 WITH NO ACTIVITY PLANNED FOR BALANCE OF YEAR

* ATHABASCA OIL CORP - IN THERMAL OIL, COMPANY HAS TEMPORARILY DEFERRED LONG LEAD PROJECTS FOR LEISMER

* ATHABASCA OIL CORP - AT HANGINGSTONE, COMPANY HAS SELF-CURTAILED PRODUCTION BY APPROXIMATELY 50%

* ATHABASCA OIL CORP - COMPANY IS MAKING PLANS TO DEFER HANGINGSTONE TURNAROUND TO 2021

* ATHABASCA OIL CORP - EXPECTS 2020 ANNUAL PRODUCTION OF 32,500 - 34,000 BOE/D

* ATHABASCA OIL CORP - COMPANY HAS RELEASED ALL NON-ESSENTIAL CONTRACT STAFF EFFECTIVE IMMEDIATELY

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