Athabasca Oil Corporation Is A Classic Deep Value Play
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ATHOF vs. ETF Alternatives
Thursday, Apr 173:11 PM
Thursday, Apr 173:11 PM| 1 Comment
- Athabasca Oil (ATHOF) says it has exercised its option to sell its 40% stake in the planned Dover oil sands project to partner PetroChina (PTR) for C$1.32B ($1.2B) after the project received final approvals from Alberta's government.
- PTR can now build Dover, which could eventually produce as much as 250K bbl/day of oil sands bitumen; Athabasca plans to use the proceeds to develop its other oil sands and light oil projects in Alberta.
Wednesday, Apr 1610:48 AM
Wednesday, Apr 1610:48 AM| 5 Comments
- Alberta looks likely to implement energy efficiency measures when it revamps its climate-change policy to win support for its oil sector, an about-face on the former premier’s vow that the province wouldn’t enact new rules until the U.S. did.
- The province plans to have new regulations on emissions in the near future and may include a higher carbon price, Alberta's environment minister says.
- The struggle by Alberta’s oil producers for access to new markets, as reflected in U.S. delays in approving the Keystone XL (TRP) pipeline, comes amid opposition to oil sands bitumen because of its higher carbon intensity and concerns around air and water pollution.
- Relevant companies include ECA, ENB, EEP, STO, XOM, IMO, SU, CVE, PGH, BP, CNQ, BTE, DVN, IVAN, AAV, RDS.A, RDS.B, PTR, ATHOF
Thursday, Mar 132:52 PM
Thursday, Mar 132:52 PM| Comment!
- The Dover oil sands project backed by PetroChina (PTR) and Athabasca Oil (ATHOF) receives approval from Alberta's provincial government, the next-to-last step needed before Athabasca can sell its share of the project to its Chinese partner for C$1.32B ($1.2B).
- With the approval in hand, Athabasca needs only a final permit from the government's environment department before exercising a put that allows it to sell its stake to PTR; the final permit typically takes up to a month to issue.
- The proposed five-phase Dover project eventually is expected to produce 250K bbl/day using steam-assisted gravity drainage.
Friday, Oct 182013, 5:51 PM
Friday, Oct 182013, 5:51 PM| Comment!
- Athabasca Oil (ATHOF.PK) was today's top decliner on the Toronto Stock Exchange, plunging 10% after a court ruled an aboriginal group could appeal an Alberta regulator's approval of the company's Dover oil sands project.
- The company expects Dover to create $5.2B annually in economic activity, and it had planned to proceed with the sale of its stake in the project to PetroChina (PTR) following the regulator’s approval in August.
- The decision significantly increases the risk regulatory delay and is a major negative for Athabasca, an RBC analyst says.
Wednesday, Aug 72013, 8:19 AM
Wednesday, Aug 72013, 8:19 AM| 1 Comment
- Athabasca Oil (ATHOF.PK) gains conditional approval from Alberta's energy regulator for its proposed Dover oil sands project.
- The approval triggers the company’s right under a put/call agreement to sell its remaining 40% of the Dover project to a PetroChina (PTR) subsidiary, with proceeds expected in Q4.
- Final approval is pending from the Alberta provincial cabinet and Alberta Environment.
Wednesday, Jul 312013, 2:45 PM
Wednesday, Jul 312013, 2:45 PM| 2 Comments
- Athabasca Oil (ATHOF.PK) expects to find out early next week the outcome of a dispute with aboriginals over its proposed 250K bbl/day Dover oil sands project that's holding up a $1.32B payment from PetroChina (PTR).
- Alberta’s energy regulator is deciding whether to accommodate the natives' request of a 20-km environmental buffer between Dover and their reserve near Fort McMurray.
- The approvals trigger the company’s right under a put/call agreement to sell its remaining 40% of the project to a PTR subsidiary, with proceeds expected in Q4.
Monday, Dec 172012, 11:41 AMEncana’s (ECA) new JV with PetroChina, the first since Canada unveiled new restrictions for state-owned firms seeking to invest in its oil sands, is sure to be the first of many. Athabasca Oil (ATHOF.PK), Talisman Energy (TLM) and Canadian Natural Resources (CNQ) may attract overseas investors eager to gain access to resources, and the companies seek funds for drilling and development. |Monday, Dec 172012, 11:41 AM| Comment!
Tuesday, Jan 32012, 1:00 PMAthabasca Oil Sands (ATHOF.PK) exercises its option to sell its 40% stake in the MacKay River oil-sands project in Alberta to joint owner PetroChina (PTR +4.9%) for C$680M ($669M). The transaction comes less than a week after regulators approved the planned 150,000-barrel-a-day project. (PR .pdf) |Tuesday, Jan 32012, 1:00 PM| 1 Comment
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