ARC Resources

ARC Resources is a Canadian oil and gas producer based in Calgary, Alberta, the second largest Canadian oil and gas trust as of 2010.[1]

ARC Resources Ltd.
TypePublic
TSX: ARX
IndustryOil and gas
Founded1996
HeadquartersCalgary, Alberta, Canada
Key people
Terry Anderson, CEO
Kris Bibby, Senior Vice President & CFO
Revenue$697.4 million CAD (2019)
Number of employees
500 (2019)
Websitewww.arcresources.com

History

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.[2] 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

In 2000, ARC bought Startech energy in a $340 million CAD deal.[3]

In 2003, it bought Star Oil&Gas for $710 million. including the Dawson field.[4]

In 2005, it bought two oil fields in the Pembina area from Imperial Oil and ExxonMobil Canada.[5]

In 2010, ARC bought Storm Exploration Inc., the owner of the Parkland field.[1]

In 2016, ARC sold $700 million in assets in Southeast Saskatchewan to Spartan Energy Corporation.[6]

Areas of Operation

With operations spanning western Canada, ARC's activities include the exploration, development and production of conventional oil and natural gas reserves. As of the fourth quarter of 2016, 58% of ARC's sales revenue was from crude oil and liquids, with the remaining 42% from natural gas.[7]

ARC has operations in three core areas across Western Canada:

  • NE British Columbia, including the Dawson, Parkland/Tower, and Sunrise fields [8]
  • Northern Alberta, including the Ante Creek field[8]
  • Pembina, in central Alberta[9]

As of the third quarter of 2017, 33% of production was from the Dawson field, 22% was from Parkland/Tower, 16% was from Sunrise, 12% was from Ante Creek, 8% was from Pembina, with the remaining 9% from other fields.[10]

References
  1. McIntosh, Jeff (2010-06-10). "ARC Energy buys Storm Exploration for $680-million". The Globe and Mail. Retrieved 2017-12-28.
  2. "Archived copy". Archived from the original on 2015-12-31. Retrieved 2014-05-28.CS1 maint: archived copy as title (link)
  3. Newswires, Dow Jones (2000-12-01). "ARC Agrees to Acquire Startech Energy In Stock Deal Valued at $221.4 Million". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-12-28.
  4. "Canada's ARC Energy Trust to pay $710 million for Star Oil & Gas". Oil&Gas Journal. 2003-04-15. Retrieved 2017-12-28.
  5. "Arc Energy buys prize oil fields". The Toronto Star. 2005-12-05.
  6. "Calgary firm makes $700M purchase in Sask. oil patch". CBC News. 2016-11-18. Retrieved 2017-12-29.
  7. "ARC Resources 2016 Annual Report". www.arcresources.com. Archived from the original on 2017-12-29. Retrieved 2017-12-28.
  8. "ARC Resources Ltd. › Operations › Montney". www.arcresources.com. Retrieved 2017-12-28.
  9. "ARC Resources Ltd. › Operations › Pembina". www.arcresources.com. Retrieved 2017-12-28.
  10. "ARC Resources Ltd. › Operations › Operations Review". www.arcresources.com. Archived from the original on 2017-12-29. Retrieved 2017-12-29.


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