Athabasca Oil Buckles Down on Capex as it Weathers Low Prices, Pins Hopes on Murphy JV

SUGAR LAND--March 14, 2016--Researched by Industrial Info Resources (Sugar Land, Texas)--Like every other player in the Oil and Gas Production Industry, Canada's Athabasca Oil Corporation (Calgary, Alberta) has had to do some serious belt tightening as it strives to survive the harsh pricing environment. The producer of light and thermal oils originally targeted a capital budget of C$266 million ($351 million) for 2015. For this year, the targeted spend is C$91 million ($120 million). Within this article: Capex plans for 2016.