Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Word to the Wise in your inbox, subscribe here. Early in August, it was announced that private equity owned Strathcona Resources Ltd (“Strathcona”) was purchasing privately owned Serafina Energy Ltd. (“Serafina”) for C2.3 billion. Little has been reported on this acquisition other than the [Read more]
Strathcona Resources Ltd.
Company Pages
Articles
Strathcona Resources Ltd. announces increased credit facility to C$1.5 billion and completion of amalgamation with Caltex Resources Ltd. and Stickney Resources Ltd.
CALGARY, AB - Strathcona Resources Ltd. ("Strathcona" or the "Company") is pleased to announce it has completed its amalgamation with Caltex Resources Ltd. ("Caltex") and Stickney Resources Ltd. ("Stickney"). On November 30, 2021, Strathcona and affiliates of Waterous Energy Fund ("WEF") acquired Caltex, a private oil company with high-margin enhanced oil recovery ("EOR") assets proximate to Strathcona's Lloydminster heavy oil EOR operations. At the time of acquisition, Caltex produced [Read more]
Waterous Energy Fund closes its fourth equity capital raise, acquires Caltex Resources Ltd. and the Tucker Thermal Oil Property, and amalgamates Caltex and Tucker with Strathcona Resources Ltd.
CALGARY, Alberta - Waterous Energy Fund (“WEF”) today announced the closing of the amalgamation of Strathcona Resources Ltd. (“Strathcona”), Caltex Resources Ltd. (“Caltex”), and the Tucker thermal oil property (“Tucker”). The amalgamated entity will continue in business as Strathcona Resources Ltd. and will remain 100% owned by WEF and Strathcona employees. WEF Closes Fourth Capital Raise to Complete Acquisitions of Caltex and Tucker On January 31, 2022, WEF closed its fourth capital [Read more]
Strathcona Resources Ltd. announces closing of its private offering of U.S. $500 million of senior notes
CALGARY, AB - Strathcona Resources Ltd. ("Strathcona") announced today that it has closed its previously announced private offering (the "Offering") under Rule 144A and Regulation S of the U.S. Securities Exchange Act of 1933, as amended (the "U.S. Securities Act"), to eligible purchasers, of U.S.$500 million in aggregate principal amount of 6.875% senior unsecured notes due in 2026 (the "Notes"). Strathcona used the net proceeds from this Offering to repay a portion of the outstanding [Read more]
Strathcona Resources Ltd. announces pricing of its private offering of U.S. $500 million of senior notes
CALGARY, AB - Strathcona Resources Ltd. ("Strathcona") announced today that it has priced a private offering (the "Offering") under Rule 144A and Regulation S of the U.S. Securities Exchange Act of 1933, as amended (the "U.S. Securities Act"), to eligible purchasers, of U.S.$500 million in aggregate principal amount of 6.875% senior unsecured notes due 2026 (the "Notes"). The Offering is expected to close on or about July 20, 2021 subject to customary closing conditions. Strathcona intends [Read more]
Strathcona Resources Ltd. announces proposed private offering of U.S.$500 million of senior notes
CALGARY, AB - Strathcona Resources Ltd. ("Strathcona") announced today that it is planning to commence, subject to market and other conditions, a private offering (the "Offering") under Rule 144A and Regulation S of the U.S. Securities Exchange Act of 1933, as amended (the "U.S. Securities Act"), to eligible purchasers, of U.S.$500 million in aggregate principal amount of senior unsecured notes due 2026 (the "Notes"). Strathcona intends to use the net proceeds from this Offering, if [Read more]
Waterous Energy Fund announces the amalgamation of Strathcona Resources Ltd. and Osum Oil Sands Corp. and the closing of a new C$1.0 billion covenant-based credit facility
CALGARY, AB - Waterous Energy Fund ("WEF") today announced the closing of the amalgamation of its two portfolio companies, Strathcona Resources Ltd. ("Strathcona") and Osum Oil Sands Corp. ("Osum"). The amalgamated entity will continue in business under the name Strathcona Resources Ltd. and will remain 100% owned by WEF, WEF co-investors and Strathcona employees. Strathcona is the product of nine separate transactions completed by WEF since 2017, including three take-private transactions and [Read more]
Waterous Energy Fund announces the combination of Strath Resources Ltd. and Cona Resources Ltd. to create the leading private North American oil producer, Strathcona Resources Ltd
CALGARY, AB - 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, and a base oil decline rate of approximately 10%, and low [Read more]
BOE Intel Spotlight on Hammerhead Resources Inc. – 8 of the top 15 Alberta Montney oil wells in the month of January
Hammerhead Resources Inc. is the newest public company in the Alberta Montney, with shares first trading on the TSX on February 27, 2023 under the symbol TSX:HHRS.TO. This comes after the combination of Hammerhead Resources with Decarbonization Plus Acquisition Corporation IV, a Special Purpose Acquisition Company (SPAC) largely funded by New York-based private equity firm Riverstone Holdings LLC. This SPAC was focused on decarbonization initiatives, and the $1.3 billion CAD deal stipulates that [Read more]
Strathcona Resources to buy Tucker oilsands project from Cenovus in deal
CALGARY - Cenovus Energy Inc. says Strathcona Resources Ltd. will be the purchaser of its Tucker thermal oilsands project in northeast Alberta. Calgary-based Cenovus said Thursday it had reached an $800-million deal to sell the asset, but did not immediately disclose the buyer. Strathcona Resources is a privately held oil and gas company wholly owned by Calgary-based investment firm Waterous Energy Fund and Strathcona employees. Strathcona is an amalgamation of two Waterous Energy Fund [Read more]