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CALGARY, Alberta – (ARX – TSX, VII – TSX) ARC Resources Ltd. (“ARC”) and Seven Generations Energy Ltd. (“Seven Generations”) today announce a strategic combination of the two premier Montney producers. The combined company will continue to focus on significant free funds flow (1) generation through a responsible and disciplined approach to development while creating superior and enduring value for all shareholders. The combination is consistent with ARC’s and Seven Generations’ long-term strategies and is expected to be immediately accretive on a free funds flow and net asset value per share basis to all shareholders. The companies have entered into a definitive agreement to combine in an all-share transaction valued at approximately $8.1 billion, inclusive of net debt. The combined company will operate as ARC Resources Ltd. and remain headquartered in Calgary, Alberta. Under the terms of the definitive agreement, Seven Generations shareholders will receive 1.108 common shares of ARC for each common share of Seven Generations held. TRANSACTION HIGHLIGHTS The combined company will become the premier Montney producer of low-cost natural gas and high-margin condensate, with combined production expected to total over 340,000 boe (2) per day in 2021, comprising approximately 138,000 barrels per day of liquids and […]
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