NEW YORK (TheStreet) -- Shares of Athabasca Oil Corp. (ATHOF) are up 2.47% to $7.48 on Thursday after the oil company sold its 40% stake in the planned Dover oil sand project for $1.2 billion, Reuters reported.
The sale was between Athabasca and its partner PetroChina Co. (PTR).
The decision to sell its stake in the Brion Energy partnership, developing the thermal oil sands project, was part of an existing deal between Athabasca and PetroChina, in which the company agreed to the sale.
Must Read: Warren Buffett's 10 Favorite Growth StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. ATHOF data by YCharts
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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