Overview

• Strathcona Resources has signed agreements to sell its Montney shale assets, including Kakwa, Groundbirch, and Grande Prairie, for $2.84 billion.
• The largest portion of the sale involves the Kakwa asset, sold to ARC Resources for $1.695 billion.
• The Montney assets, which produced 72,000 barrels of oil equivalent per day, generated $149 million in operating profit last year, representing 12% of Strathcona's total operating profit.
• Strathcona has completed the acquisition of the Hardisty Rail Terminal, securing critical infrastructure for its heavy oil-focused strategy.
• The asset sales are expected to finalize in the second and third quarters of 2025, positioning Strathcona as a pure-play heavy oil producer.