ATH:CC - Athabasca Oil updates investors - higher production on solid execution

Athabasca Oil (OTCPK:ATHOF) released an operational updated ahead of the market open Monday. Sharing updates on Q2 turnaround activity, deleveraging targets and index inclusion:  Turnarounds - the Leismer turnaround was executed on time and on budget, with production returning to 20kb/d; the Company now expects to hit the high-end of its 33-34kboe/d annual guide. Debt - 100% of near-term free cash flow is to be used to reduced debt, and the Company has already redeemed C$141m of term debt in 2022; annual free cash flow guidance of C$180m was maintained, though this figure anticipates $85/b WTI oil prices in 2022. Index - on June 3 S&P Dow Jones Indices announced their quarterly rebalance, and Athabasca (OTCPK:ATHOF) will be added to the S&P/TSX Composite index as of June 20. As Q2 results near, investors are sure to remain focused on the potential for increased free cash flow guidance. On existing guidance,

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Athabasca Oil updates investors - higher production on solid execution