CALGARY, Alberta - Athabasca Oil Corporation (TSX:ATH) closed a $500 million covenant-based credit facility with the Canadian bank market today, according to a press release statement.
The facility has a four-year term ending in May 2030 and includes annual extension rights. Duvernay Energy, a subsidiary in which Athabasca owns a 70% equity interest, also closed a $75 million reserve-based credit facility.
Following the completion of these facilities, the company’s consolidated liquidity stands at approximately $870 million. As of March 31, 2026, Athabasca reported a $60 million net cash position and $290 million in cash. According to InvestingPro analysis, the company holds more cash than debt on its balance sheet, strengthening its financial flexibility. Investors can access 5 additional InvestingPro Tips for deeper insights into Athabasca’s financial health.
The company stated the new credit facilities support its thermal oil growth plan targeting production exceeding 60,000 barrels per day by 2030, as well as an expanded capital program at Duvernay Energy that was announced in the first quarter 2026 results.
Athabasca Oil Corporation operates in Alberta’s Western Canadian Sedimentary Basin, focusing on thermal and light oil asset development. The company’s light oil assets are held through Duvernay Energy Corporation.
In other recent news, Alterity Therapeutics has announced significant developments in its research and leadership. The company presented new data from its Phase 2 trial of ATH434, which showed a reduction in functional decline in patients with Multiple System Atrophy (MSA). This data was unveiled at the American Academy of Neurology Annual Meeting, highlighting the potential of ATH434 in addressing disease progression. In another development, a peer-reviewed study published in NeuroImage demonstrated that a novel MRI method can detect iron accumulation in MSA patients, a significant breakthrough in understanding the disease. This study was conducted in collaboration with Vanderbilt University Medical Center. Additionally, Alterity Therapeutics has appointed Ann Cunningham as an independent non-executive director to its board. Cunningham brings over 25 years of experience in pharmaceuticals and biotechnology, with a focus on neurodegenerative diseases. These updates reflect the company’s ongoing efforts in advancing MSA research and strengthening its leadership team.
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