Arc Resources Ltd. swiftly accelerated Montney Shale drilling following its C$8.1 billion ($6.5 billion) takeover of Seven Generations Energy Ltd. (7G) last winter, and it’s rewarding shareholders too.

Arc

The Calgary-based exploration and production (E&P) company holds a Montney-focused portfolio in Alberta and British Columbia (BC) that is weighted 60% to natural gas and 40% to natural gas liquids (NGL).

The Arc-7G combination coincided with increasing natural gas, NGL and oil prices as markets recovered from the 2020 slump. Moreover, Arc has joined other North American E&Ps on the responsibly sourced gas bandwagon.

Production during the latest quarter included 137,069 b/d of crude oil and NGL production — a more than 300% year/year increase. In addition, Arc said it produced...