Strathcona Resources is owned by Calgary-based private equity firm Waterous Energy Fund. Through a series of recent acquisitions, the company has grown its production from 5,000 barrels of oil equivalent per day to 185,000 boe/d in just over six years.
“No one is creating deals like this,” said Cole Smead, CEO and portfolio manager at Smead Capital Management, which owns shares in Pipestone and voted for the merger. “I think we’ll eventually see it leak into other areas of the Canadian space once others see their success,” Smead said.
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