Calgary-based Strathcona Resources Ltd. has grown to heavyweight status among private exploration companies after completing two acquisitions that boosted its combined oil and natural gas production to about 110,000 boe/d.

Strathcona Resources

Before the latest dealmaking, Strathcona’s production was averaging 75,000-80,000 boe/d.  

The company, 100% owned by the private equity Waterous Energy Fund and Strathcona employees, broke into the six-figure production range by completing the takeovers of Canada producers Caltex Resources Ltd. and Stickney Resources Ltd. 

“The amalgamation continues our highly disciplined and focused approach to growth,” CEO Rob Morgan said. “With the addition of Caltex and Stickney, we are now positioned as the sixth-largest Canadian oil and natural gas producer...