About
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: Montney, Cold Lake and Lloydminster. Each is characterized by a long reserve life which will facilitate future growth and high margin current production.
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.
Company History
Since forming, Strathcona has rapidly grown production and reserves while maintaining strong financial positioning.
Strathcona Precursors
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
Strathcona roughly doubles its Cold Lake business by acquiring Osum Oil Sands.
Additional Lloydminster heavy oil properties in Alberta and Saskatchewan are acquired through Caltex Resources Ltd.
Focused on Value
Strathcona, through Stickney Resources Ltd., acquires Tucker thermal oil property in Cold Lake.
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
Strathcona has a unique strategy in allocating capital across both acquisitions and organic growth. We strive to think like value investors, focusing on maintaining a large margin of safety between the price of an acquisition or the cost of a new well versus the intrinsic value it adds to the business long-term.
Our strong balance sheet, diverse asset portfolio, and commodity balance allows us to be nimble in allocating capital to the highest return opportunities.
Safety First
To create the safest possible environment for everyone, we foster a culture where safety is about more than procedures, programs and rules. It’s about establishing a collective mindset and leading by example at all levels at all times.