Navigate this market better. Subscribe for FREE stock alerts and information.

Friday, August 29, 2014

Athabasca Oil completes Dover stake sale to PetroChina unit, (TSE: ATH.TO), (NYSE: PTR)

Canada's Athabasca Oil Corp said it had closed the sale of its 40 percent interest in the Dover oil sands project to a unit of PetroChina Co Ltd for $1.18 billion. Athabasca said it received $600 million in cash and $584 million in three interest-bearing promissory notes from the unit, Phoenix Energy Holdings Ltd.

Athabasca Oil Corporation, formerly Athabasca Oil Sands Corp. Shares of ATH remained unchanged at $7.59. In the past year, the shares have traded as low as $5.47 and as high as $8.84. On average, 2061580 shares of ATH.TO exchange hands on a given day and today's volume is recorded at 1932593.

PetroChina Company Limited is mainly engaged in the production and sale of oil and gas related products. Shares of PTR fell by 0.18% or $-0.25/share to $141.94. In the past year, the shares have traded as low as $94.75 and as high as $146.00. On average, 132971 shares of PTR exchange hands on a given day and today's volume is recorded at 77698.



Source