Key facts
- Athabasca Oil Corporation secured a new $500 million four-year credit facility.
- The company expanded its Duvernay Energy credit facility.
- Athabasca Oil Corporation plans to repurchase up to $100 million of its common shares.
Athabasca Oil Corporation's announcement of new credit facilities and a significant share repurchase program indicates a strengthening financial position and a commitment to returning value to shareholders. This move could signal management's confidence in the company's future prospects and its ability to generate sufficient cash flow.