Each week, XI Technologies uncovers trends and insights using our enhanced data and software focused on the WCSB. If you’d like Word to the Wise delivered directly to your inbox, subscribe here. After a contentious vote, Pipestone Energy Corp (Pipestone) shareholders ultimately approved the deal to be acquired by Strathcona Resources Ltd. (Strathcona). Strathcona will now operate as the 5th largest oil producer in Canada, with a reported pro forma production of approximately 180,000 BOE/day, [Read more]
Strathcona Resources Ltd.
Strathcona Resources cements its reputation as a strategic counter cyclical acquirer with Pipestone shareholders approval of acquisition – BOE Intel
Today it was announced that Pipestone Energy shareholders approved the deal to be acquired by Strathcona Resources. It was a contentious few weeks amongst Pipestone shareholders as dissenting voices emerged, with both sides expressing strong opinions in the public forum. Ultimately it seems like a big win for Strathcona and really adds to the company's impressive reputation as a strong acquirer. Recall that since January 2020, Strathcona has been able to acquire or combine with Pengrowth, [Read more]
Pipestone shareholders approve arrangement with Strathcona to create new Canadian energy leader
CALGARY, Alberta, Sept. 27, 2023 (GLOBE NEWSWIRE) -- (PIPE – TSX) Pipestone Energy Corp. ("Pipestone" or the "Company") today announced that the Company’s shareholders (the "Shareholders") have voted to approve the previously announced arrangement (the "Arrangement") with Strathcona Resources Ltd. ("Strathcona"), which will see Pipestone combined with Strathcona to create one of Canada’s largest energy producers. Upon closing, Strathcona and Pipestone will be amalgamated to form a new [Read more]
Pipestone reminds shareholders to vote for the value-enhancing proposed combination with Strathcona to create a leading Canadian energy producer
To ensure their votes are counted at the Special Meeting of Shareholders, Shareholders must submit their proxies by 10:00 am (Calgary Time) this Monday, September 25, 2023. Shareholders are encouraged to vote FOR the Arrangement with Strathcona. Combining with Strathcona is superior to the status quo, providing Pipestone Shareholders with the ability to participate in the upside of a much larger, more diversified producer that is expected to benefit from scale, longer-life and [Read more]
Pipestone announces that ISS reaffirms recommendation that shareholders vote “FOR” proposed combination with Strathcona to create a leading Canadian energy producer; ISS says dissident’s arguments “do not appear well supported”
Pipestone encourages all shareholders to vote FOR the Arrangement today to ensure their votes are counted; the proxy voting deadline is 10:00 a.m. (Calgary time) on Monday, September 25, 2023 Have questions or need help voting? Call Kingsdale Advisors on 1-888-659-1824 (toll free in North America), email contactus@kingsdaleadvisors.com, or visit www.pipestonestrathcona.com CALGARY, Alberta, Sept. 20, 2023 (GLOBE NEWSWIRE) -- (PIPE – TSX) Pipestone Energy Corp. (“Pipestone” or the [Read more]
Pipestone announces that ISS and Glass Lewis recommend shareholders vote “for” proposed combination with Strathcona to create a leading Canadian energy producer, and sets record straight on flawed and misleading arguments by GMT
Combining with Strathcona is superior to the status quo as it will give Pipestone shareholders the ability to participate in the upside of a much larger, more diversified producer that will benefit from scale, longer-life and better-positioned reserves, improved access to capital and a potential positive re-rating by markets Pipestone’s extensive strategic review process considered all alternatives available to Pipestone, including the arguments and alternatives put forward by GMT, and [Read more]
Strathcona Resources to go public with acquisition of Pipestone Energy – see deal metrics and recent spuds – BOE Intel
Strathcona Resources announced yesterday that it has reached an agreement with Pipestone Energy to acquire the company in an all-share deal which would make it the fifth largest liquids producer in Canada. After closing, Strathcona will become a public company with pro forma current production of ~185,000 boe/d. The company will be ~70% weighted to oil/condensate, and will have a 78% liquids weighting overall. See the Pro Forma corporate presentation here. Over the last 3 and a half years, [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]
Paramount Resources Ltd. reports second quarter 2021 results and announces August dividend
CALGARY, AB - HIGHLIGHTS Sales volumes averaged 79,995 Boe/d (43 percent liquids) in the second quarter of 2021, ahead of the Company's guidance of 77,000 Boe/d to 78,000 Boe/d (42 percent liquids), driven by continued outperformance at Karr.(1) Sales volumes at Karr averaged 38,679 Boe/d (54 percent liquids) in the second quarter, ahead of expectations and approximately 5,500 Boe/d higher than first quarter production, despite a seven-day scheduled curtailment at the third-party [Read more]
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