ARC Resources
 | |
| Company type | Public |
|---|---|
| TSX: ARX | |
| Industry | Oil and gas |
| Founded | 1996 |
| Headquarters | Calgary, Alberta, Canada |
Key people | Terry Anderson[1] (CEO) Kris Bibby[2] (SVP & CFO) |
| Revenue | $697.4 million CAD (2019) |
Number of employees | 500 (2021) |
| Website | www |
ARC Resources Ltd. 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 dividend to shareholders, and its common shares trade on the Toronto Stock Exchange under the symbol ARX.
History
[edit | edit source]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.[3] 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 | edit source]- 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.[4]
- In 2005, ARC announces a $462 million strategic acquisition of properties in the Pembina and Redwater fields from Imperial Oil and ExxonMobil.[5]
- In 2010, ARC completes the acquisition of Storm Exploration Inc., adding the Parkland field.[6]
- In 2016, ARC sold $700 million in assets in Southeast Saskatchewan to Spartan Energy Corporation.[7]
- 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.[8]
Areas of operation
[edit | edit source]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 | edit source]References
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- Oil companies of Canada
- Companies based in Calgary
- Energy companies established in 1996
- Non-renewable resource companies established in 1996
- 1996 establishments in Alberta
- Companies listed on the Toronto Stock Exchange
- Canadian companies established in 1996
- 2021 mergers and acquisitions
- Canadian company stubs
- Petroleum company stubs
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