Strathcona Resources Ltd. has signed a series of three agreements to sell its assets in the Montney region valued at a total of $2.84 billion.
The company says once the deals are complete it will be a pure-play heavy oil company.
Strathcona says Arc Resources Ltd. will acquire its Kakwa asset in a deal valued at $1.7 billion, while Tourmaline Oil Corp. will buy its Groundbirch asset for $291.5 million in Tourmaline shares.
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Strathcona is also selling its Grande Prairie asset in an agreement valued at $850 million. It did not identify the buyer.
The company also said it has bought the Hardisty rail terminal in Alberta for about $45 million.
It says the terminal is the largest crude-by-rail terminal in Western Canada.
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