Canadian oil and gas producer Strathcona sells Montney assets for $2.84 billion
May 14 (Reuters) - Canadian oil and gas producer Strathcona Resources (SCR.TO), opens new tab 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 (ARX.TO), opens new tab for around $1.7 billion, its Grade Prairie asset for around $850 million, and its Groundbirch asset to Tourmaline Oil (TOU.TO), opens new tab 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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