Particle.news
Download on the App Store
3 ARTICLES
·
last wk.

Whitecap and Veren Shareholders Approve $15 Billion Merger

The deal will create Canada's seventh-largest oil producer under the Whitecap name, with finalization set for next week.

The city skyline is seen behind the Saddledome, home of the Calgary Flames, in Calgary, Alta., Thursday, March 12, 2020. THE CANADIAN PRESS/Jeff McIntosh

Overview

  • Shareholders of both Whitecap Resources Inc. and Veren Inc. have given their approval for the $15 billion merger in swift virtual votes on May 6, 2025.
  • The combined company will operate under the Whitecap name and management, with the merger expected to close next week.
  • The new entity will rank as Canada’s seventh-largest oil producer, with daily production reaching 370,000 barrels.
  • Whitecap will become the largest landholder in the Montney and Duvernay shale regions and the second-largest oil producer in Saskatchewan.
  • Projected cost savings exceed $200 million, with resilience stress-tested against oil prices as low as US$50 per barrel through 2026.