ARC Resources

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ARC Resources Ltd. (ARC) is a Canadian energy company with operations focused in the Montney resource play in Alberta and northeast British Columbia. The company has been operating since 1996. ARC pays a quarterly dividened to shareholders and its common shares trade on the Toronto Stock Exchange under the symbol ARX.

ARC Resources Ltd.
TypePublic
TSXARX
IndustryOil and gas
Founded1996
HeadquartersCalgary, Alberta, Canada
Key people
Terry Anderson, CEO
Kris Bibby, Senior Vice President & CFO
Revenue$697.4 million CAD (2019)
Number of employees
500 (2021)
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.[1] 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 1999, ARC acquires Starcor Energy Royalty Fund and Orion Energy Trust.
  • In 2001, ARC reaches $1 billion market capitalization. ARC completes the acquisition of Startech Energy Inc. for $340 million deal.
  • In 2003, ARC purchases Star Oil & Gas Ltd. for $710 million, including the Dawson gas field.[2]
  • In 2005, ARC announces a $462 million strategic acquisition of properties in the Pembina and Redwater fields from Imperial Oil and ExxonMobil.[3]
  • In 2010, ARC completes the acquisition of Storm Exploration Inc., adding the Parkland field.[4]
  • In 2016, ARC sold $700 million in assets in Southeast Saskatchewan to Spartan Energy Corporation.[5]
  • In 2021, ARC closed its strategic combination with Seven Generations Energy Ltd. in an all stock deal valued at $8.1 billion inclusive of debt. The resulting company continued to operate as ARC Resources Ltd. [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 at Q2 2021, ARC’s commodity mix was approximately 60% natural gas and 40% liquids.

ARC has operations in two core areas across Western Canada:

  • Northeast British Columbia, including the Attachie, Greater Dawson, Parkland/Tower, and Sunrise fields
  • Northern Alberta, including the Ante Creek and Kakwa field

External links[edit]

References[edit]

  1. ^ "Archived copy". Archived from the original on 2015-12-31. Retrieved 2014-05-28.{{cite web}}: CS1 maint: archived copy as title (link)
  2. ^ "Canada's ARC Energy Trust to pay $710 million for Star Oil & Gas". Oil&Gas Journal. 2003-04-15. Retrieved 2017-12-28.
  3. ^ "Arc Energy buys prize oil fields". The Toronto Star. 2005-12-05.
  4. ^ McIntosh, Jeff (2010-06-10). "ARC Energy buys Storm Exploration for $680-million". The Globe and Mail. Retrieved 2017-12-28.
  5. ^ "Calgary firm makes $700M purchase in Sask. oil patch". CBC News. 2016-11-18. Retrieved 2017-12-29.
  6. ^ "ARC Resources and Seven Generations Energy Announce Strategic Montney Combination". 2021-02-10. Retrieved 2021-05-16.