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Athabasca Oil Announces New $500M Four-Year Credit Facility and Expanded Duvernay Energy Credit Facility

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Athabasca Oil (ATH.TO) has closed a new $500 million covenant-based credit facility with the Canadian bank market, the company said Monday. The facility has a four-year term to May 2030 and includes annual extension rights, it added.

Duvernay Energy has also closed an upsized $75 million reserve-based credit facility. Pro forma for the new facilities, consolidated liquidity is near $870 million, the company noted.

Athabasca in Monday's statement said the new credit facilities enhance its capital structure with expanded liquidity, enhanced durability and a lower cost of capital. The pro forma capital structure supports the company's fully funded Thermal Oil growth plan to greater than 60,000 bbl/d by 2030 and the expanded Duvernay Energy capital program announced in the first quarter 2026 results, it added.

Athabasca said it remains committed to maintaining a "best-in-class balance sheet" as operations increase in scale. As at March 31, 2026, the company had a $60 million net cash position and $290 million of cash, it added.

ATH was down $0.26 or 2.3% at $10.91 in Canada on Friday.

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