06:25 AM EDT, 07/25/2024 (MT Newswires) -- Athabasca Oil ( ATHOF ) late on Wednesday reported an increase in second-quarter net income and comprehensive income.

Second-quarter net income and comprehensive income rose to $96.1 million, or $0.17 per share, from $57.1 million, or $0.07 per share.

Adjusted funds flow for the quarter came in at $165.7 million, or $0.30 per share, up from $81.7 million, or $0.14 per share.

The company produced 37,621 barrels of oil equivalent per day (boe/d) in the second quarter, an increase from 33,971 boe/d.

Athabasca Oil ( ATHOF ) increased its 2024 production guidance by 1,000 boe/d to 36,000-37,000 boe/d, including both Duvernay Energy and Athabasca (Thermal Oil) production. Full-year adjusted funds flow is forecast at $590 million.

Athabasca Oil's ( ATHOF ) share price fell 0.9% to $5.37 yesterday.