ALBERTA: Canada’s ARC Resources Ltd has agreed to buy Seven Generations Energy Ltd for C$2.7bil (US$2.2bil) in an all-stock deal to create the country’s sixth-largest energy company, as oil producers strive to scale up and drive down costs.
The combined company will become the biggest operator in western Canada’s premier Montney shale play, producing more than 340,000 barrels of oil equivalent per day (boepd).
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