Whitecap-Veren deal closes

May 13, 2025 | 1:11 PM

CALGARY The $15-billion deal to combine of Whitecap Resources Inc. and Veren Inc. has closed, creating Canada’s seventh largest oil and gas producer.

The new company is operating under the Whitecap name and management team.

It is now the biggest landholder in the Montney and Duvernay shale regions in B.C. and Alberta, with a big light oil footprint in Saskatchewan.

Whitecap says it has already reached two agreements to sell non-strategic assets for $270 million.

The deals include medium oil production in southwest Saskatchewan and its minority interest in a natural gas facility in northwest Alberta.

It’s expecting to produce between 295,000 and 300,000 barrels of oil equivalent per day this year with capital spending totalling of about $2.0 billion.

This report by The Canadian Press was first published May 12, 2025.
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(The Canadian Press)

by The Canadian Press