Value-Driven, Growth-Oriented and Long-Term Focused
Headquartered in Calgary, Alberta, Strathcona Resources Ltd. is one of North America’s fastest growing oil and gas producers.
Spanning from northeast British Columbia to southwest Saskatchewan, operations are concentrated into three core areas, condensate-rich Montney, Cold Lake Thermal Oil and Lloydminster Heavy Oil. Each is characterized by a long reserve life, low West Texas Intermediate (WTI) breakeven and robust free cash flow profiles. Our concentrated portfolio of complementary assets insulates our business from risk.
At Strathcona, we pride ourselves on maintaining our high standard of safety, strong operational and environmental performance, and positive involvement in the communities where we live and work.
Our people are the key to the success of Strathcona. Every employee, contractor and vendor are essential to our performance and culture.
Since forming, Strathcona has rapidly grown production and reserves while maintaining strong financial positioning.
Montney-area producer is recapitalized by Waterous Energy Fund (WEF) and renamed Strath Resources Ltd (Strath).
Majority stake in publicly traded Lloydminster heavy oil firm is acquired by WEF and renamed Cona Resources Ltd (Cona).
One year later, WEF acquires the remaining shares of Cona and takes the business private.
Formation of Strathcona
Cona enters the thermal oil business acquiring the Lindbergh thermal oil property in Alberta and the Groundbirch natural gas property in British Columbia from Pengrowth Resources.
Strath and Cona are combined to create Strathcona Resources Ltd (Strathcona).
Investing in Growth
Thermal oil capability in east-central Alberta is expanded through the addition of Osum Oil Sands Orion facility to Strathcona’s portfolio of properties near Cold Lake, Alberta.
Economic interest in additional heavy oil operating properties in Alberta and Saskatchewan are acquired through Caltex Resources Ltd.
Focused on Value
Economic interest in Alberta-based Tucker thermal oil property is secured through Stickney Resources Ltd.
Remaining interest in Caltex heavy oil properties and Tucker thermal oil facility is purchased and Strathcona becomes full owner of all facilities.
Strathcona acquires Serafina Energy and adds small, modularized thermal oil assets in Edam and Meota, Saskatchewan to its portfolio along with the nearby Hamlin crude-by-rail terminal, which provides access to the US Gulf Coast.
Strathcona Goes Public
Strathcona goes public through an all-share acquisition of TSX traded development and exploration company, Pipestone Energy Corp.
The combination makes Strathcona Canada’s fifth-largest liquids producer by production and reserves.
Our strategy for continued growth is focused on the acquisition of high-quality, high-performing assets combined with the option to grow production organically leveraging existing infrastructure.
Our financial strength, asset and commodity diversification, and disciplined allocation of capital is what gives us the opportunity to consistently seek innovative ways to improve our performance.
Strathcona’s values are integrated into our strategy, culture and ways of working.
One Strathcona Team
Our team is made up of industry's finest professionals, bringing together decades of experience and insight.