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BRIEF-Athabasca Oil Says Has Decided To Suspend Hangingstone SAGD Operation

Published 2020-04-02, 06:23 p/m
© Reuters.

April 2 (Reuters) - Athabasca Oil Corp ATH.TO :

* ATHABASCA OIL CORPORATION TAKES FURTHER ACTIONS IN RESPONSE TO THE CURRENT ENVIRONMENT

* ATHABASCA OIL CORP - HAS DECIDED TO SUSPEND HANGINGSTONE SAGD OPERATION

* ATHABASCA OIL CORP - AS PART OF THE ACTION, ATHABASCA IS REDUCING ITS CORPORATE STAFF COUNT BY 15%

* ATHABASCA OIL CORP - REVISED 2020 GUIDANCE

* ATHABASCA OIL - HAS NOW CANCELLED A TOTAL OF $40 MILLION OF CAPITAL EXPENDITURES, REPRESENTING A 30% REDUCTION FROM ORIGINAL 2020 BUDGET

* ATHABASCA OIL CORP - HAS NO ADDITIONAL LIGHT OIL ACTIVITY PLANNED FOR BALANCE OF YEAR

* ATHABASCA OIL CORP - ANNUAL 2020 CORPORATE GUIDANCE IS 30,000 - 31,500 BOE/D AND REFLECTS A ABOUT 2,500 BOE/D REDUCTION RELATED TO SHUT-IN

* ATHABASCA OIL CORP - COMPANY IS PREPARED TO SELF-CURTAIL ADDITIONAL PRODUCTION VOLUMES AS REQUIRED BY PRICE ENVIRONMENT

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