public traded as tsx ath industry oil & gas founded canada 2006 headquarters calgary alberta canada key people rob broen president & ceo number of employees 60 2010 1 website www.atha.com athabasca oil corporation is a canadian energy company with a focused strategy on the development of thermal and light oil assets . situated in alberta s western canadian sedimentary basin the company has amassed a significant land base of extensive high quality resources . athabasca s common shares trade on the tsx under the symbol ath . contents 1 operations 2 ownership 3 duvernay formation 4 notes 5 references 6 external links operations edit athabasca is primarily focused on the exploration for and sustainable development and production of bitumen from oil sands in the athabasca region of northeastern alberta canada and light oil and liquids rich natural gas from regions in northwestern alberta canada . athabasca is organized into the following two divisions light oil division as at december 31 2014 athabasca held over 2.45 million net acres of petroleum and natural gas leases predominately in northwestern alberta . athabasca produces light oil and liquids rich natural gas from unconventional reservoirs utilizing horizontal drilling and multi stage hydraulic fracturing technology . initial developments have been focused in the kaybob and saxon placid areas near the town of fox creek alberta the greater kaybob area . athabasca has a diverse land position including over 200 000 acres of commercially prospective lands in the greater kaybob area at various stages of delineation and development . the primary target is the duvernay formation the secondary target is the montney formation . thermal oil division as at december 31 2014 athabasca held over 1.18 million net acres of oil sands leases in the athabasca region of northeastern alberta . athabasca s primary focus is hangingstone project 1 100 % . other project areas include the hangingstone expansion 100 % dover west carbonates 100 % dover west sands 100 % birch 100 % and grosmont 50 % . development targets include oil sands in the mcmurray and wabiskaw formations as well as carbonates in the leduc and grosmont formations . the company expects to produce its recoverable bitumen using in situ recovery methods such as sagd css or other suitable experimental technologies such as tagd . the first significant production from the thermal oil division is expected in the latter part of 2015 from hangingstone project 1 a 12 000 bbl d sagd project . 2 ownership edit the company s highly anticipated 3 initial public offering ipo in early 2010 was the largest canadian ipo since that of manulife financial in 1999 and north america s largest in 2010 as of march 31 . 4 the sale selling a 19 % stake at c 18 per share valued the company at around c 7 000 000 000 . 4 the ipo s initial success was attributed in part to aosc s 2009 asset sale to petrochina divesting 60 % working interest in its mackay river and dover projects for c 1 900 000 000 . 3 5 6 following the ipo aoc s share price dropped 33 % in the first month of trading making it canada s worst performing ipo since 2007 . 7 duvernay formation edit aoc s share price rose dramatically following the announcement of a us1 .2 billion duvernay formation acreage joint venture between encana and petrochina . athabasca oil corporation holds the largest publicly disclosed duvernay formation acreage rights 640 000 acres . 8 notes 1 notes edit this was the first oil sands joint venture between a canadian company and a foreign state owned company since prime minister stephen harper changed regulations in december 2012 making it almost impossible for state owned companies to purchase controlling interests in oil sands projects . the success of this joint venture which is within the new rules and regulations is encouraging for overseas investors who want to access canadian oil and natural gas resources and for companies like athabasca oil corp. ath talisman energy inc. and canadian natural resources ltd. cnq that need funds for drilling and development costs penty rebecca . december 17 2012 . encanas petrochina partnership may be first of many . china institute . references edit athabasca oil sands corporation public tse ath . google finance canada . retrieved 2010 06 12 . http www.atha.com upload report 39 01 2014 aif aoc final mar 11 2015.pdf a b milstead david 2010 03 22 . pre ipo bonanza for athabasca backers . the globe and mail . retrieved 2010 06 12 . a b alexander doug 2010 03 31 . athabasca oil sands raises c 1.35 billion in ipo update2 . bloomberg . archived from the original on 2010 06 12 . retrieved 2010 06 12 . tait carrie 2009 08 31 . petrochina takes 1.9 billion stake in oil sands . financial post . retrieved 2010 06 12 . petrochina offers 2b for oilsands stake . cbc news . 2009 08 31 . retrieved 2010 06 12 . alexander doug 2010 05 12 . athabasca oil sands is worst performing canadian ipo since 2007 . bloomberg businessweek . retrieved 2010 06 12 . rebecca penty december 17 2012 . encanas petrochina partnership may be first of many . edmonton ab china institute university of alberta . retrieved february 1 2013 . external links edit official website retrieved from https en.wikipedia.org w index.php title athabasca oil corporation & oldid 717658191 categories athabasca oil sandsoil companies of canadawestern canadian sedimentary basincompanies based in calgaryenergy companies established in 2006non renewable resource companies established in 20062006 establishments in canadacompanies listed on the toronto stock exchange navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload 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