Photo credit: Strathcona Resources Ltd./Facebook.

By The Canadian Press

Energy Business

Strathcona Resources selling Montney assets

May 15, 2025 | 4:26 PM

Strathcona Resources Ltd. has signed a series of three agreements to sell its assets in the Montney region valued at a total of $2.84 billion.

The company says once the deals are complete it will be a pure-play heavy oil company.

Strathcona says Arc Resources Ltd. will acquire its Kakwa asset in a deal valued at $1.7 billion, while Tourmaline Oil Corp. will buy its Groundbirch asset for $291.5 million in Tourmaline shares.

Strathcona is also selling its Grande Prairie asset in an agreement valued at $850 million. It did not identify the buyer.

The company also said it has bought the Hardisty rail terminal in Alberta for about $45 million.

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It says the terminal is the largest crude-by-rail terminal in Western Canada.

This report by The Canadian Press was first published May 15, 2025.

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(The Canadian Press)