ARC Resources Ltd. (TSX:ARX) agreed to acquire Kakwa asset of Strathcona Resources Ltd from for CAD 1.7 billion on May 14, 2025. The transaction value is paid in CAD 1,650 million in cash and approximately CAD 45 million in assumed lease obligations. Strathcona Resources Ltd. (?Strathcona? or the ?Company?) (TSX: SCR) is pleased to announce that it has entered into definitive agreements to sell substantially all of its Montney assets for approximately CAD 2.84 billion, pursuant to three separate transactions. The fully committed term loan facility was provided by the Royal Bank of Canada and The Bank of Nova Scotia as underwriters and bookrunners. The Transaction will be funded through a new CAD 1.0 billion committed two-year term loan, and existing credit facilities The Kakwa Sale is expected to occur early in the third quarter of 2025, subject to receipt of regulatory approvals, Competition Act Approval and the satisfaction of other customary closing conditions.

BMO Capital Markets acted as a financial advisor to Strathcona Resources. CIBC Capital Markets acted as a financial advisor to Strathcona Resources. Jefferies Group LLC acted as a finacial advisor to Strathcona Resources. Scotiabank, Inc. acted as a financial advisor to ARC Resources. Burnet, Duckworth & Palmer LLP acted as a legal advisor to ARC Resources. Kevin Kerr of Blake, Cassels & Graydon LLP acted as legal advisor to Strathcona Resources. RBC Capital Markets acted as financial advisor to ARC Resources.