WEF-backed Strathcona buys Montney assets in Resthaven

Calgary-based oil and gas company Strathcona Resources has acquired Montney assets in the Resthaven area of Western Canada.

Calgary-based oil and gas company Strathcona Resources has acquired Montney assets in the Resthaven area of Western Canada. The deal’s financial terms and the seller of the assets were not disclosed. Strathcona, backed by Canadian private equity firm Waterous Energy Fund, earlier this year merged with Osum Oil Sands.

PRESS RELEASE

CALGARY, AB, July 22, 2021 /CNW/ – Strathcona Resources Ltd. (“Strathcona” or the “Company”) is pleased to announce it has completed a strategic acquisition of Montney assets in the Resthaven area, located directly offsetting and integral with the Company’s existing Montney operations in the Kakwa area. The acquired assets include 2,600 Boe/d of low-decline production, consolidated ownership of gas processing facilities and infield pipeline infrastructure, and additional undeveloped acreage.

TD Securities acted as exclusive financial advisor to Strathcona for the transaction.

About Strathcona
Strathcona is a Calgary-based private, oil-weighted company focused on the exploration, development and production of oil and gas resources in Western Canada. Strathcona is 100% owned by its private-equity sponsor, Waterous Energy Fund, and Strathcona employees. Additional company information is available at strathconaresources.com.
For further information: https://www.strathconaresources.com/