Strathcona Resources Sells Montney Shale Assets for $3 Billion ...Middle East

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Strathcona Resources Sells Montney Shale Assets for $3 Billion
source : OILPRICE ( Middle East ) () 37
Strathcona Resources has exited the Montney shale after striking deals to sell its assets there to three companies, including ARC Resources and Tourmaline Oil. The company also acquired the Hardisty Rail Terminal. The total value of the three assets that Strathcona owned in the Montney shale stood at $2.84 billion. The largest portion of the asset sale was the disposal of the Kakwa asset, which Strathcona sold to ARC Resources for $1.695 billion. The company noted that the three assets had generated $149 million in operating profit during last…

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