Business
ARC Resources Closes Strategic Montney Combination with Seven Generations
ARC Resources Closes Strategic Montney Combination with Seven Generations Canad...
About this update from Arc Resources Ltd.
[{"type":"text","content":"\n \n \n \n ARC Resources Closes Strategic Montney Combination with Seven Generations\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n April 6, 2021\n \n /CNW/ -\n \n \n (TSX: ARX) ARC Resources Ltd. (\"ARC\" or the \"Company\") is pleased to announce that it has closed its strategic\n \n Montney\n \n combination with Seven Generations Energy Ltd. (\"Seven Generations\") to create the premier\n \n Montney\n \n producer and leader in responsible energy development (the \"Business Combination\"). ARC is now\n \n Canada's\n \n largest condensate producer, third-largest natural gas producer, and sixth-largest upstream energy company.\n \n \n \n \n \n \n \n \n \n As the largest pure-play\n \n Montney\n \n producer, ARC owns over 1.1 million net acres of\n \n Montney\n \n land and has a deep inventory of high-return, de-risked core development opportunities with significant commodity and geographic diversity. ARC produces approximately 340,000 barrels of oil equivalent (\"boe\") per day, comprising approximately 138,000 barrels per day of liquids and approximately 1.2 billion cubic feet (\"Bcf\") per day of natural gas. The Company's low cost structure, excellent environmental, social, and governance (\"ESG\") performance, and superior ability to optimize revenue streams are supported by an extensive network of owned-and-operated infrastructure, with natural gas processing and sales capacity totaling approximately 1.5 Bcf per day. Exercising capital discipline, operating safely and efficiently, maintaining a top-decile balance sheet, and executing an active commodity price risk management program continue to be hallmarks of the organization.\n \n \n With its compelling ability to generate free funds flow, low debt levels, leading ESG performance, and a sustainable dividend, ARC is a differentiated investment opportunity with significant optionality for future capital allocation, positioned to create significant shareholder value in 2021 and beyond. Immediately following th...