ARC Resources

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ARC Resources is a Canadian oil and gas producer based in Calgary, Alberta, the second largest Canadian oil and gas trust as of 2010.[1]

ARC Resources Ltd.
Public
Traded asTSXARX
ISINCA00208D4084 Edit this on Wikidata
IndustryOil and gas
Founded1996
HeadquartersCalgary, Alberta, Canada
Key people
Terry Anderson, CEO
Kris Bibby, Senior Vice President & CFO
Revenue$974.5 million CAD (2016)
Number of employees
500 (2019)
Websitewww.arcresources.com

History[edit]

ARC was founded in 1996 as a royalty trust with the acquisition of 21 properties from Mobil Oil Canada. The acquisition was funded by an initial IPO of $180 million on the Toronto Stock Exchange.[2] The company operated as a royalty trust from inception in 1996 until December 31, 2010. As a result of the Canadian Government's change in the tax treatment of trusts ARC converted from a trust to a corporation on January 1, 2011.

Acquisitions and Disposals[edit]

In 2000, ARC bought Startech energy in a $340 million CAD deal.[3]

In 2003, it bought Star Oil&Gas for $710 million. including the Dawson field.[4]

In 2005, it bought two oil fields in the Pembina area from Imperial Oil and ExxonMobil Canada.[5]

In 2010, ARC bought Storm Exploration Inc., the owner of the Parkland field.[1]

In 2016, ARC sold $700 million in assets in Southeast Saskatchewan to Spartan Energy Corporation.[6]

Areas of Operation[edit]

With operations spanning western Canada, ARC's activities include the exploration, development and production of conventional oil and natural gas reserves. As of the fourth quarter of 2016, 58% of ARC's sales revenue was from crude oil and liquids, with the remaining 42% from natural gas.[7]

ARC has operations in three core areas across Western Canada:

  • NE British Columbia, including the Dawson, Parkland/Tower, and Sunrise fields [8]
  • Northern Alberta, including the Ante Creek field[8]
  • Pembina, in central Alberta[9]

As of the third quarter of 2017, 33% of production was from the Dawson field, 22% was from Parkland/Tower, 16% was from Sunrise, 12% was from Ante Creek, 8% was from Pembina, with the remaining 9% from other fields.[10]

External links[edit]

References[edit]

  1. ^ a b McIntosh, Jeff (2010-06-10). "ARC Energy buys Storm Exploration for $680-million". The Globe and Mail. Retrieved 2017-12-28.
  2. ^ "Archived copy". Archived from the original on 2015-12-31. Retrieved 2014-05-28.CS1 maint: archived copy as title (link)
  3. ^ Newswires, Dow Jones (2000-12-01). "ARC Agrees to Acquire Startech Energy In Stock Deal Valued at $221.4 Million". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-12-28.
  4. ^ "Canada's ARC Energy Trust to pay $710 million for Star Oil & Gas". Oil&Gas Journal. 2003-04-15. Retrieved 2017-12-28.
  5. ^ "Arc Energy buys prize oil fields". The Toronto Star. 2005-12-05.
  6. ^ "Calgary firm makes $700M purchase in Sask. oil patch". CBC News. 2016-11-18. Retrieved 2017-12-29.
  7. ^ "ARC Resources 2016 Annual Report". www.arcresources.com. Archived from the original on 2017-12-29. Retrieved 2017-12-28.
  8. ^ a b "ARC Resources Ltd. › Operations › Montney". www.arcresources.com. Retrieved 2017-12-28.
  9. ^ "ARC Resources Ltd. › Operations › Pembina". www.arcresources.com. Retrieved 2017-12-28.
  10. ^ "ARC Resources Ltd. › Operations › Operations Review". www.arcresources.com. Archived from the original on 2017-12-29. Retrieved 2017-12-29.