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Last C$7.54 CAD
Change Today -0.08 / -1.05%
Volume 443.3K
As of 4:27 PM 05/29/15 All times are local (Market data is delayed by at least 15 minutes).

advantage oil & gas ltd (AAV) Snapshot

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52 Week High
05/13/15 - C$7.89
52 Week Low
12/4/14 - C$4.51
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Current Stock Chart for ADVANTAGE OIL & GAS LTD (AAV)

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advantage oil & gas ltd (AAV) Details

Advantage Oil & Gas Ltd., together with its subsidiaries, acquires, exploits, develops, and produces oil and gas in the province of Alberta, Canada. The company produces and sells crude oil, natural gas, and natural gas liquids primarily through marketing companies. It principally focuses on the development and delineation of its Montney natural gas and liquids resource that consists of 76 net sections of land in Glacier, Alberta. The company was founded in 2001 and is headquartered in Calgary, Canada.

27 Employees
Last Reported Date: 05/7/15
Founded in 2001

advantage oil & gas ltd (AAV) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$392.7K
Chief Financial Officer and Vice President of...
Total Annual Compensation: C$259.5K
Senior Vice President
Total Annual Compensation: C$275.8K
Compensation as of Fiscal Year 2014.

advantage oil & gas ltd (AAV) Key Developments

Advantage Oil & Gas Ltd. Approves Appointment of Jill T. Angevine as New Director

Advantage Oil & Gas Ltd. announced that at its AGM held on May 27, 2015, the shareholders approved appointment of Jill T. Angevine as new director of the company. Ms. Angevine is currently Vice President and Portfolio Manager at Matco Financial Inc. and was previously Vice President and Director, Institutional Research at FirstEnergy Capital Corp.

Advantage Oil & Gas Ltd. Announces Amendment to the Credit Agreement

The Bank of Nova Scotia (BNS) refers to the letter loan agreement dated as of April 14, 2011, as amended by the amending agreements dated as of June 17, 2011, May 17, 2012, April 30, 2013 and May 29, 2014 (as amended, the Original Credit Agreement) between BNS and Advantage Oil & Gas Ltd. (the Borrower), pursuant to which BNS made available to the Borrower an operating credit facility upon the terms and conditions set out therein. This letter agreement (the Amending Agreement) amends and extends the Original Credit Agreement. This Amending Agreement is entered into concurrently with the Seventh Amendment to the Fifth Amended and Restated Syndicated Credit Agreement dated as of May 7, 2015 (the Seventh Amending Agreement) between the Borrower, BNS as lead arranger, administrative agent and bookrunner, National Bank of Canada, as syndication agent, Royal Bank of Canada, as documentation agent, and BNS, National Bank of Canada, Royal Bank of Canada, Canadian Imperial Bank of Commerce, Union Bank, Canada Branch, Alberta Treasury Branches and Wells Fargo Bank, N.A., Canadian Branch, as lenders. For valuable consideration, the receipt and sufficiency of which is hereby acknowledged, BNS and the Borrower agree as follows: Capitalized terms which are not defined herein have the meanings given to them in or contemplated by the Original Credit Agreement; The definition of Term Conversion Date in Schedule A to the Original Credit Agreement is amended to read as follows: Term Conversion Date means June 10, 2016, as such date may be extended hereunder; Effective as of the first day following the end of the second Quarter of 2015 (the Pricing Change Date), Section 6 of the Original Credit Agreement is amended by replacing all references therein to the term Consolidated Debt to Cash Flow Ratio with the term Consolidated Debt to EBITDA Ratio; provided that for greater certainty, if the Borrower delivers a Compliance Certificate in the form (the New Compliance Certificate) concurrent with its delivery of the Compliance Certificate required pursuant to Section 11.1(l) of the Syndicated Credit Agreement in respect of the first Quarter of 2015, any change to Margins to be effective on the Pricing Change Date shall be based upon the Consolidated Debt to EBITDA Ratio set in the New Compliance Certificate; The Borrower agrees to pay to BNS an extension fee for the agreement by BNS to the terms and conditions hereof, calculated on the basis of [Redacted] BPs on the maximum amount available under the Original Credit Agreement. The extension fee shall be deemed to be fully earned by BNS upon the execution of this Amending Agreement and shall be payable on or before Closing (as defined in the Seventh Amending Agreement); This Amending Agreement shall become effective only upon the satisfaction of the following conditions precedent: the conditions precedent set out in subsections 3.1(a) and (b) of the Seventh Amending Agreement shall have been satisfied, adjusted to the extent necessary to make such conditions applicable to this Amending Agreement mutatis mutandis; the Borrower shall deliver to BNS four (4) original, fully executed copies of this Amending Agreement; BNS shall have received four (4) original copies of an officer's certificate from the Borrower certifying as to any changes to the constating documents or by-laws since the delivery to BNS of an officer's certificate dated as of February 15, 2014, the authorization of this Amending Agreement, incumbency and such other matters as BNS reasonably requires, in form and substance satisfactory to BNS; BNS shall have received four (4) copies of an opinion of the Borrower's Counsel with respect to corporate status, corporate authority, authorization, execution, delivery and validity and enforceability and such other matters as BNS reasonably requires, in form and substance satisfactory to BNS; BNS shall have received four (4) copies of an opinion of BNS' counsel, in form and substance satisfactory to BNS; and the Borrower shall have paid to BNS the fee payable under section 4 of this Amending Agreement; In order to induce BNS to enter into this Amending Agreement and to amend the Original Credit Agreement in the manner provided herein, the representations and warranties contained in section 4 of the Seventh Amending Agreement are incorporated into and form part of this Amending Agreement, with such changes as are necessary to conform with and apply to this Amending Agreement; On and after the date hereof, each reference in the Original Credit Agreement to 'this Agreement,' 'hereunder,' 'hereof,' 'herein' or words of like import referring to the Original Credit Agreement and each reference in the other Loan Documents to the 'Operating Credit Agreement,' 'thereunder,' 'thereof' or words of like import referring to the Original Credit Agreement shall mean and be a reference to the Original Credit Agreement, as amended by this Amending Agreement; Except as specifically amended by this Amending Agreement, the Original Credit Agreement remains in full force and effect and is hereby ratified and confirmed; The execution, delivery and performance of this Amending Agreement shall not, except as expressly provided herein, constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of BNS under the Original Credit Agreement or any of the other Loan Documents; The Borrower acknowledges that pursuant to section 17 of the Original Credit Agreement all reasonable costs, fees and expenses incurred by BNS and its counsel with respect to this Amending Agreement shall be for the account of Borrower; This Amending Agreement and the rights and obligations of the parties hereunder shall be governed by, and shall be construed and enforced in accordance with the internal laws of the Province of Alberta and the federal laws of Canada applicable therein; This Amending Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument.

Advantage Oil & Gas Ltd. Reports Unaudited Consolidated Financial and Production Results for the First Quarter Ended March 31, 2015; Provides Production Guidance for the Period from 2015 Through 2017

Advantage Oil & Gas Ltd. reported unaudited consolidated financial and production results for the first quarter ended March 31, 2015. For the quarter, the company reported funds from operations of $29,929,000 or $0.18 per share against $45,449,000 or $0.27 per share a year ago. Total capital expenditures were $78,708,000 against $49,287,000 a year ago. Cash provided by operating activities - continuing operations was $29,750,000 against $17,019,000 a year ago. Natural gas and liquids sales were $32,627,000 against $58,775,000 a year ago. Operating income and operating netbacks was $34,182,000 against $49,472,000 a year ago. Natural gas and liquids revenue was $31,092,000 against $56,065,000 a year ago. Income before taxes from continuing operations was $5,655,000 against loss before taxes from continuing operations of $18,922,000 a year ago. Net income and comprehensive income from continuing operations was $4,071,000 or $0.02 per basic and diluted share against net loss and comprehensive loss from continuing operations of $17,616,000 or $0.10 per basic and diluted share a year ago. Net income and comprehensive income was $4,071,000 against or $0.45 per basic and diluted share net loss and comprehensive loss of $76,510,000 a year ago. Expenditures on property, plant and equipment was $89,551,000 against $47,473,000 a year ago. Expenditures on exploration and evaluation assets was $1,149,000 against $1,813,000 a year ago. For the quarter, the company reported daily production of natural gas of 133,281 mcf/d against 122,481 mcf/d a year ago. Liquids was 112 bbls/d against 164 bbls/d a year ago. Total was 133,953 mcfe/d against 123,465 mcfe/d a year ago. Total was 22,326 boe/d against 20,578 boe/d a year ago. Production increased 8% to 134.0 mmcfe/d (22,326 boe/d) compared to the same period of 2014 due to continued success at the company's Glacier Montney property. The company announced that the average annual production growth from 2015 through 2017 is 22% per year.


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Price/Earnings 13.8x
Price/Sales 7.3x
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