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Strathcona Resources closes Pipestone Energy merger deal

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CALGARY — Strathcona Resources Ltd. says it has closed its merger with Pipestone Energy Corp. Pipestone shareholders voted to approve the deal last week in a move to create the fifth largest oil producer in Canada. Under the terms of the deal, Pipestone shareholders received 9.05 per cent of the equity in the merged company, while Strathcona becomes a public company. It will be listed on the Toronto Stock Exchange under the symbol SCR. Trading of Strathcona shares is expected to begin on or abou

Pipestone shareholders voted to approve the deal last week in a move to create the fifth largest oil producer in Canada.

The companies have said the merged company will have production of about 185,000 barrels of oil equivalent per day across the Cold Lake, Lloydminster and Montney oil-producing regions. Discover a world of exciting games, from heart-pumping action to brain-teasing puzzles. Get the latest versions of the top games in 2023.The Top 10 Stocks to Own for the Next 10 Years [PREMIUM PICKS]

The Toronto Stock Exchange's main stock index has given up all of its gains for 2023, as investors head for the exits as the realization that high interest rates are going to stick around settles in.The S&P/TSX Composite Index lost more than 264 points, or 1.

 

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Strathcona Resources closes Pipestone Energy merger dealCALGARY — Strathcona Resources Ltd. says it has closed its merger with Pipestone Energy Corp. Pipestone shareholders voted to approve the deal last week in a move to create the fifth largest oil producer in Canada.
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