Canadian oil and gas producer Strathcona sells Montney assets for $2.84 billion
(Reuters) -Canadian oil and gas producer Strathcona Resources said on Wednesday that it has sold all of its Montney assets for about $2.84 billion.
The company sold its Kakwa asset to ARC Resources for around $1.7 billion, its Grade Prairie asset for around $850 million, and its Groundbirch asset to Tourmaline Oil for $291.5 million.
Strathcona stated that the Kakwa and Grande Prairie asset sales are expected to close in the early part of the third quarter this year, while the Groundbirch sale is anticipated to close in the second quarter.
The company also revised its guidance, projecting second-quarter 2025 production at 180 Mboe/d.
Full-year 2025 production is expected to range between 150–160 Mboe/d, with 120–125 Mbbls/d anticipated in the third and fourth quarters following the Montney asset dispositions, it said in a statement.
Strathcona went public in 2023 after acquiring its smaller rival Pipestone Energy. It has a market capitalization of $4.17 billion, as per LSEG data.
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