US EditionWHITECAP RESOURCES AND VEREN TO COMBINE IN A $15 BILLION TRANSACTION TO CREATE A LEADING CANADIAN LIGHT OIL AND CONDENSATE PRODUCER
- Whitecap Resources Inc. and Veren Inc. are merging in a $15-billion deal to enhance their market position in Canadian shale and withstand economic challenges.
- The merger will position Whitecap as the seventh-largest Canadian oil producer, with 370,000 barrels of daily production expected from the combined entity.
- Veren shareholders will receive 1.05 Whitecap shares for each Veren share, with the deal needing approval from shareholders and regulators, and is projected to close before May 30, 2025.
- Analyst MacCulloch noted a positive view on the merger, emphasizing the benefits it will provide to shareholders through enhanced asset value and market presence.
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This $15 billion transaction will take place entirely in shares.
·Montreal, Canada
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Oil and gas producers Whitecap Resources and Veren join forces in a $15 billion deal to create the largest landowner of two Alberta shale formations.
·Montreal, Canada
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Coverage Details
Total News Sources30
Leaning Left6Leaning Right4Center3Last UpdatedBias Distribution46% Left
Bias Distribution
- 46% of the sources lean Left
46% Left
L 46%
C 23%
R 31%
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