Summary
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Athabasca Oil Corporation Profile
| Oil, Gas & Consumable Fuels Industry | Energy Sector | Mr. Robert Anthony Broen B.Sc.Eng., P.Eng. CEO | TSX Exchange | CA04682R1073 ISIN |
| Canada Country | 170 Employees | - Last Dividend | - Last Split | - IPO Date |
Overview
Athabasca Oil Corporation is a prominent player in the energy sector, specifically focusing on the exploration, development, and production of thermal and light oil resource plays. Located in the prolific Western Canadian Sedimentary Basin in Alberta, Canada, the company operates through two main segments: Thermal Oil and Light Oil. Its key operations are centered around the Greater Kaybob areas near Fox Creek in northwestern Alberta, as well as the Leismer/Corner, Hangingstone, and Dover West projects in the Athabasca region of northeastern Alberta. Initially known as Athabasca Oil Sands Corp., the company underwent a name change in May 2012 to better reflect its broadened focus. Founded in 2006, it is headquartered in Calgary, Canada, marking it as a significant entity in the country's oil and gas industry.
Products and Services
- Light and Medium Crude Oil: Athabasca Oil Corporation produces high-quality light and medium crude oil. These types of oil are prized for their lower density and sulfur content, making them easier and less expensive to refine than heavier oils.
- Tight Oil: The company extracts tight oil, which is trapped in geological formations that are not easily accessible. This oil requires advanced extraction techniques, such as hydraulic fracturing, to produce.
- Conventional Natural Gas: Athabasca Oil Corporation also produces conventional natural gas, which is formed from the fossil remains of ancient marine organisms and is found in large quantities in the Western Canadian Sedimentary Basin.
- Shale Gas: Alongside conventional natural gas, the company exploits shale gas reserves. Shale gas is trapped within shale formations and is released through hydraulic fracturing or "fracking".
- Natural Gas Liquids (NGLs): The production process also yields natural gas liquids, which are valuable hydrocarbon liquids extracted from natural gas. These include substances like propane and butane, which have diverse uses ranging from heating fuels to petrochemical feedstocks.
- Bitumen: Particularly in its thermal oil segment, Athabasca Oil Corporation produces bitumen from sand and carbonate rock formations. Bitumen is a heavy, viscous oil that is primarily used for road surfacing and roofing materials.
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