- 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.