en.Wedoany.com Reported - Athabasca Oil Corporation has completed a new $500 million covenant-based credit facility in the Canadian bank market, with a four-year term extending to May 2030 and including annual extension options. Meanwhile, its subsidiary Duvernay Energy has also completed an expanded $75 million reserve-based credit facility. Based on the new credit arrangements, combined liquidity stands at approximately $870 million.

The new credit facility strengthens Athabasca's capital structure, providing greater liquidity, enhanced durability, and lower capital costs. The company plans to leverage this to advance its well-funded oil sands thermal growth program, targeting production exceeding 60,000 barrels per day by 2030, while expanding the Duvernay Energy capital plan announced in the first quarter 2026 results. As of March 31, 2026, the company held a net cash position of $60 million and $290 million in cash, and Athabasca is committed to maintaining a top-tier balance sheet as its business scales up.

Athabasca Oil Corporation is a Canadian energy company focused on developing thermal and light oil assets. Located in the Western Canadian Sedimentary Basin in Alberta, the company possesses a vast, high-quality resource base. Its light oil assets are held by Duvernay Energy Corporation, a 70%-owned private subsidiary. Athabasca's common shares are listed on the Toronto Stock Exchange under the ticker symbol "ATH."

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