Athabasca Oil Corporation Acquired | Energy M&A Deal

Athabasca Oil Corporation has completed the acquisition of Athabasca Oil Corporation, a energy services other business in Calgary, Alberta, for $500 million. Athabasca is a Canadian energy company focused on thermal and light oil development in Alberta’s Western Canadian Sedimentary Basin, supporting growth toward more than 60,000 bbl/d by 2030. The company also operates Duvernay Energy Corporation, a private subsidiary where Athabasca holds a 70% equity interest, and it has closed an upsized $75 million reserve-based credit facility. This energy M&A other acquisition is a closed strategic financing update, combining a new $500 million four-year covenant-based credit facility with expanded Duvernay Energy liquidity to lower capital costs and strengthen balance sheet durability.