Cenovus Energy to Acquire MEG Energy in $7.9B Transaction; Strathcona Purchases 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.

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.

Ovintiv Completes Acquisition of NuVista Energy in $2.7 Billion Cash-and-Stock Deal

February 3, 2026

Energy

Ovintiv completed its acquisition of NuVista Energy Ltd. for approximately $2.7 billion in a cash-and-stock transaction. The deal adds ~140,000 net acres (about 70% undeveloped) and ~930 net 10,000-foot equivalent well locations in the liquids-rich Alberta Montney, with 2026 production from the assets expected to average ~100 MBOE/d.

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.