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Strathcona Resources Ltd.

Company Summary

Description

CALGARY, AB, Aug. 14, 2020 /PRNewswire/ - Waterous Energy Fund ("WEF") today announced the amalgamation of two portfolio companies, Cona Resources Ltd. ("Cona") and Strath Resources Ltd. ("Strath"), to form Strathcona Resources, Ltd. ("Strathcona"). Strathcona is the largest wholly private equity-owned, oil-weighted producer in North America, with production of ~60,000 Boe / d (67% oil and liquids), a 40-year reserve life index, industry-leading full-cycle margins, a base oil decline rate of approximately 10%, and low carbon emissions per barrel. Strathcona is a uniquely positioned producer with a portfolio of condensate and natural gas production to complement its heavy oil operations. Strathcona is 100% owned by WEF and Strathcona employees.

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Company Transactions

Date: 7/23/2021
Type: Acquisition

BUYERS:
  • Strathcona Resources Ltd.
    • DETAILS:

    VOLUMES: 2.6 MBOE/d

    NOTES:
    Strathcona Resources has acquired 2.6 Mboe/d on low-decline Montney production in the Resthaven area, which they said offsets their Kakwa area operations. No further details were provided on the cost or who they purchased it from.
    REGIONS:
  • Montney Formation