Press

ARC Resources Ltd. Closes Sale of Saskatchewan Assets

Posted by Katie Woodward - OilVoice

09-Dec-2016


CALGARY, Dec. 8, 2016 /CNW/ - (ARX – TSX) ARC Resources Ltd. is pleased to announce that it has successfully closed the previously-announced sale of its Saskatchewan assets and operations to Spartan Energy Corp. (SPE – TSX), for total cash consideration of $700 million, subject to customary post-closing adjustments. The effective date of the transaction is October 1, 2016. The sale includes approximately 7,500 barrels of oil equivalent ("boe") per day of production as at the third quarter of 2016, and 37,893 Mboe of proved plus probable reserves at year-end 2015.



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