Athabasca Oil Corporation
TSX : ATH

Athabasca Oil Corporation

August 10, 2015 08:10 ET

Alliance Pipeline Force Majeure Results in Temporary Production Reduction at Greater Kaybob

CALGARY, ALBERTA--(Marketwired - Aug. 10, 2015) - Athabasca Oil Corporation ("Athabasca" or the "Company") (TSX:ATH) was informed by Alliance Pipeline of the shutdown of its mainline pipeline system late last week. Alliance advised shippers Thursday evening that an amount of hydrogen sulfide (H2S) entered into its mainline pipeline as result of complications experienced by an upstream operator. Alliance has declared this to be a force majeure event. Athabasca has shifted a portion of its regional Kaybob production to the SemCAMS KA plant and TCPL system, however approximately 4,200 boe/d of the Company's Light Oil production is currently impacted. While Alliance has not provided guidance for resumption of service on the system, the current expectation is for service to be returned this week. For reference, five days of downtime would have an approximate 250 boe/d impact on Athabasca's third quarter Light Oil production guidance of 5,000 boe/d. The Company reiterates its 2015 corporate exit guidance of 10,000 - 14,000 boe/d. Athabasca will provide updates as additional information becomes available.

About Athabasca Oil Corporation

Athabasca Oil Corporation is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. Situated in Alberta's Western Canadian Sedimentary Basin, the Company has amassed a significant land base of extensive, high quality resources. Athabasca's common shares trade on the TSX under the symbol "ATH". For more information, visit www.atha.com.

Contact Information

  • Athabasca Oil Corporation
    Media and Financial Community
    Matt Taylor
    Vice President, Capital Markets and Communications
    1-403-817-9104
    mtaylor@atha.com