Cenovus Energy to Acquire MEG Energy in $7.9 Billion Deal; Strathcona to Purchase Vawn Thermal Project From Cenovus

Strathcona Resources Purchases Additional MEG Energy Shares

September 4, 2025

Oil & Gas

Strathcona Resources Ltd. purchased 6,035,600 common shares of MEG Energy Corp. for approximately $172.7 million, increasing its stake to roughly 14.2% of MEG's outstanding shares. The purchase is part of Strathcona's ongoing offer to acquire MEG and Strathcona intends to vote its shares against the proposed acquisition of MEG by Cenovus Energy Inc.

Strathcona Resources to Acquire MEG Energy via Take-Over Bid

June 20, 2025

Oil & Gas

Strathcona Resources Ltd. has formally commenced a take-over bid to acquire all outstanding common shares of MEG Energy Corp. not already owned by Strathcona for 0.62 Strathcona shares plus C$4.10 cash per MEG share. The offer is subject to customary conditions and includes a planned second-stage path to make MEG a wholly owned subsidiary or affiliate after the bid period.

Strathcona Resources Ltd. to Acquire Pipestone Energy Corp. in All-Share Transaction

August 1, 2023

Oil & Gas

Strathcona Resources Ltd. has entered into a definitive plan of arrangement to acquire all issued and outstanding common shares of Pipestone Energy Corp. in an all-share transaction that will combine the companies into a single public reporting issuer (AmalCo). The deal creates a larger, oil-weighted Canadian producer with complementary Montney and heavy oil assets, improving scale, reserve life and market relevance for Pipestone shareholders.

Waterous Energy Fund / Strathcona Acquires Caltex Resources Ltd. and Tucker Thermal Oil Property

March 14, 2022

Oil & Gas

Waterous Energy Fund (WEF) closed its fourth capital raise (~C$345 million) to fund the acquisitions of Caltex Resources Ltd. and the Tucker thermal oil property, and amalgamated those assets with Strathcona Resources Ltd. The combined entity will continue as Strathcona Resources (100% owned by WEF and Strathcona employees), creating one of North America’s largest private oil companies with pro forma production of ~110,000 Boe/d and 1.9 billion Boe of proved-plus-probable reserves.

Woodsman Energy Acquires Central and Northern Alberta Oil & Gas Assets

March 28, 2024

Oil & Gas

Woodsman Energy Corp., with financing provided by a fund managed by Westbridge Capital Ltd., closed the acquisition of oil and gas assets in Central and Northern Alberta (Sullivan Lake and Valhalla) on March 28, 2024. The properties add approximately 400 boe/d of production (about 60% oil/NGLs), are >95% working interest and mostly operated, and expand Woodsman's portfolio of long-life, low-decline assets.

Viston United Swiss AG to Acquire Petroteq Energy Inc

January 10, 2022

Energy

Viston United Swiss AG, through its Ontario subsidiary 2869889 Ontario Inc., made an all-cash offer to acquire Petroteq Energy Inc. for C$0.74 per common share. The Petroteq board recommended shareholders tender, and the offer remained subject to regulatory conditions including CFIUS-related review while the tender period was extended multiple times.