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MUR - Athabasca Oil Corporation: The Murphy Joint Venture Is An Off Balance Sheet Asset
Murphy Oil Corporation
Athabasca Oil (ATHOF) often gets lumped into the Canadian thermal oil group because of the substantial thermal oil production. There are some more efficient players in that group like Cenovus Energy (CVE). Plus, Athabasca Oil does have a fair amount of debt. However, Athabasca still has a substantial amount of carry left in the Murphy Oil (MUR) joint venture that amounts to an off balance sheet asset. It reduces future obligations to participate in the activities that operator Murphy Oil decides to do.