Whitecap and Veren Merge to Create US$10-Billion Canadian Light Oil Producer ...Middle East

Whitecap Resources and Veren have agreed to merge in a US$10.4 billion (C$15 billion) deal that will create a leading Canadian light oil and condensate producer, the companies said on Monday. The firms announced that they had entered into a definitive business combination agreement to combine in an all-share transaction valued at approximately US$10.4 billion (C$15 billion), inclusive of net debt. The combined company will have an enterprise value of US$10.4 billion (C$15 billion), and 370,000 barrels of oil per day (boe/d) of production, 63% of…

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