Canada's Athabasca Oil Corp increased its capital budget for the year and said its chief executive of seven years would retire on Sept. 30.The company, which processes oil sands, raised its capital budget by C$140 million to C$667 million ($611 million) for 2014 but maintained its production forecast for second half of the year.Athabasca Oil, which last month closed the sale of its 40 percent interest in the Dover oil sands project to a unit of PetroChina Co Ltd, said it expected average production of 6,000-6,500 barrels of oil equivalent per day (boe/d) for the second half of 2014.The company said Tom Buchanan, currently chairman of the board, would replace Sveinung Svarte as CEO. Svarte will remain on the board as vice chairman.
Athabasca Oil Corporation, formerly Athabasca Oil Sands Corp. Shares of ATH traded higher by 0.96% or $0.07/share to $7.36. In the past year, the shares have traded as low as $5.47 and as high as $8.84. On average, 2228040 shares of ATH.TO exchange hands on a given day and today's volume is recorded at 1030810.
PetroChina Company Limited is mainly engaged in the production and sale of oil and gas related products. Shares of PTR fell by 0.05% or $-0.08/share to $149.40. In the past year, the shares have traded as low as $94.75 and as high as $150.80. On average, 130578 shares of PTR exchange hands on a given day and today's volume is recorded at 100971.
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