ATH:CC - Athabasca Oil GAAP EPS of -$0.23 revenue of $389.42M; reaffirms FY22 guidance

Athabasca Oil press release (OTCPK:ATHOF): Q1 GAAP EPS of -$0.23. Revenue of $389.42M (+84.0% Y/Y). Record adjusted funds flow ~$75M and record free cash flow ~$44M. Production above Guidance: 34,679 boe/d (92% Liquids) consisting of 27,909 bbl/d in Thermal Oil and 6,770 boe/d (57% Liquids) in Light Oil, ahead year-to-date of annual guidance of 33-34,000 boe/d. The Company reiterates its 33,000 – 34,000 boe/d (92% Liquids) annual production guidance along with Capital Expenditure guidance of $128 million.   For 2022, Athabasca forecasts Adjusted EBITDA of ~$350 million, Adjusted Funds Flow of ~$300 million and Free Cash Flow of ~$180 million.

For further details see:

Athabasca Oil GAAP EPS of -$0.23, revenue of $389.42M; reaffirms FY22 guidance