Athabasca Oil Reports Strong Q1 2025 Results

Athabasca Oil Corporation ( (ATHOF) ) has released its Q1 earnings. Here is a breakdown of the information Athabasca Oil Corporation presented to its investors.

Athabasca Oil Corporation is a Canadian energy company focused on the development of thermal and light oil assets, primarily operating within Alberta’s Western Canadian Sedimentary Basin. The company owns a significant land base with high-quality resources and trades on the TSX under the symbol ‘ATH’.

Athabasca Oil Corporation reported strong first-quarter results for 2025, marked by a 63% growth in funds flow per share and robust operational execution. The company completed its second annual share buyback program and is well-positioned to handle market volatility with low corporate break-evens and a solid balance sheet.

Key financial highlights include a 13% increase in production to 37,714 boe/d, with adjusted funds flow reaching $130 million, a 63% per share growth year over year. The company generated $71 million in free cash flow from its Thermal Oil division and completed $63 million in capital expenditures, focusing on the Leismer growth project. Operationally, Athabasca achieved significant production milestones at its Leismer and Hangingstone sites, and Duvernay Energy is on track with its capital program.

Athabasca’s strategic initiatives include maintaining a low decline, long-life asset base with a focus on sustaining and growing production. The company plans to continue its share buyback strategy, reflecting confidence in its intrinsic value. Athabasca forecasts consolidated annual production to reach the upper end of its guidance, with expectations to exit the year at approximately 41,000 boe/d.

Looking ahead, Athabasca Oil Corporation remains committed to balancing shareholder returns with growth, supported by a strong free cash flow outlook and disciplined capital allocation. The company aims to achieve a 20% compounded annual growth in cash flow per share from 2025 to 2029, driven by strategic investments and ongoing operational efficiencies.