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BRIEF-Athabasca Oil Announces Further Hangingstone Cost Reductions

05/10/2021 08:13
BRIEF-Athabasca Oil Announces Further Hangingstone Cost Reductions

- Athabasca Oil Corp ATH.TO:

  • ATHABASCA OIL CORPORATION ANNOUNCES FURTHER HANGINGSTONE COST REDUCTIONS

  • ATHABASCA OIL CORP - EXECUTED AN AMENDING HANGINGSTONE TRANSPORTATION AND STORAGE SERVICES AGREEMENT ("TSSA")

  • ATHABASCA OIL CORP - TSSA RESULTED IN A $44 MILLION PREPAYMENT FROM RESTRICTED CASH AND ABOUT $5 MILLION REDUCTION TO ANNUAL TOLLS

  • ATHABASCA OIL CORP - COST STRUCTURE IS EXPECTED TO BE REDUCED BY UP TO $10 MILLION ANNUALLY

  • ATHABASCA OIL - REDUCTION IN FINANCIAL ASSURANCES UNLOCKED RESTRICTED CASH ON BALANCE SHEET THAT WAS CONCURRENTLY USED TO FUND AMENDING PREPAYMENT

Source text for Eikon: ID:nGNX4TFMRs

Further company coverage: ATH.TO


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