It appears that ARC Resources is potentially looking to acquire assets from Harvest Operations Corp. and Deep Basin Partnership, according to a recent public filing.
A merger review with the Canadian Competition Bureau was opened on January 15, 2026, listing the 3 parties. The outcome of the review is still listed as Ongoing.
As with all Competition Bureau processes, no further details are provided, and the size or scope of a potential transaction is not provided. However, a little digging allows us to speculate on what these assets might be.
Harvest’s website lists one of its key focus areas as Deep Basin and Deep Basin Partnership. It lists the reservoir as prospective for the Montney and Falher, with additional secondary zones including the Cardium, Cadomin and Dunvegan. Harvest lists 2025 Q1 production for this focus area of 5,595 boe/d (23% liquids).
We tried to find that amount of production from wells licensed to Harvest for what is likely the “Deep Basin and Deep Basin Partnership” area, but came up a bit short. The area shown below (Figure 1) would be our best guess for what this asset might be based on the description and location of Harvest wells. StackDX Maps public data suggests ~2,000 boe/d of gross production licensed to Harvest in this area, along with some pipelines and facilities, although it is possible that Harvest/Deep Basin Partnership has more production licensed to a different entity that would account for the difference between the public data and the number quoted on Harvest’s website. Of course that production figure is from last year and has been on the decline as well.
Note: All of the above reflects reasonable speculation based on a public filing. There is no assurance that a transaction will occur, or that, if one does, the assets identified here accurately reflect what would ultimately be involved.
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Figure 1 – Harvest Deep Basin assets