Whitecap Resources Inc. and Veren Inc. are joining forces in a $15-billion dollar deal to create a major Canadian shale player that they say will stand stronger against political and market upheaval than if they were to each go it alone.
“The pro forma company will be more resilient and better able to manage the current macro environment, including the ongoing threat of tariffs and commodity price volatility,” Whitecap CEO Grant Fagerheim told analysts on a conference call Monday.
The transaction would make Whitecap the seventh-largest Canadian oil producer by production, the biggest landholder in the Montney and Duvernay in western Alberta and the second-largest oil producer in Saskatchewan….