ARC Resources Stock

ARC Resources Ltd. operates as a crude oil and natural gas company.

The company’s business activities include the exploration, development and production of crude oil, natural gas and natural gas liquids in Alberta and British Columbia, Canada. The company focuses on the acquisition and development of resource rich properties that provide for both near-term and long-term growth.

The company drilled 59 wells in 2020 (45 natural gas and liquids-rich natural gas wells and 32 oil wells).

As of December 31, 2020, the company had proved plus probable reserves of 929 million barrels of oil equivalent (MMboe) and proved producing reserves of 268 MMboe.

The company also achieved record full-year average production of 161,564 boe per day in 2020, representing a 16 per cent increase relative to 2019. The increase in production was driven by new production associated with the Dawson Phase IV facility, which was brought on-stream in the second quarter of 2020. Natural gas production at Sunrise also increased in 2020, with Sunrise Phase II being brought to full facility capacity in the fourth quarter of 2019.

British Columbia

Northeast British Columbia

The company’s assets in northeast British Columbia are predominantly located in the Montney formation. The company is a primary operator in the region with an average working interest of 96 per cent in approximately 246,577 gross hectares (237,645 net hectares), which includes land holdings of 661 net Montney sections.

The company drilled 45 gross operated wells in 2020 within the region, with an average working interest of 100 per cent. The company owns and operates approximately 716 MMcf per day of natural gas and 31,000 barrels per day of liquids processing capacity through its facilities in the region.

Alberta

Northern Alberta

The company has an average working interest of 85 per cent in the area with approximately 126,666 gross hectares (107,499 net hectares), which includes land holdings of 308 net Montney sections. The company drilled 14 gross operated wells in 2020 within the northern Alberta region, with an average working interest of 100 per cent.

Pembina

The company has an average working interest of 80 per cent in approximately 76,281 gross hectares (61,058 net hectares).

Strategy

The company is continuously transforming to create value and optimize revenue through upstream and downstream business development and other commercial activities.

Business Combination

In February 10, 2021, the company had entered into a Business Combination Agreement with Seven Generations Energy Ltd., an energy producer to combine in an all-share transaction.

History

The company was founded in 1996. It was formerly known as ARC Energy Trust and changed its name to ARC Resources Ltd. in 2010.