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Strathcona Resources Ltd. Announces Acquisition of Montney Assets

CALGARY, AB, July 22, 2021 – Strathcona Resources Ltd. (“Strathcona” or the “Company”) is pleased to announce it has completed a strategic acquisition of Montney assets in the Resthaven area, located directly offsetting and integral with the Company’s existing Montney operations in the Kakwa area. The acquired assets include 2,600 Boe/d of low-decline production, consolidated ownership of gas processing facilities and infield pipeline infrastructure, and additional undeveloped acreage.

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STRATHCONA RESOURCES LTD. ANNOUNCES CLOSING OF ITS PRIVATE OFFERING OF U.S.$500 MILLION OF SENIOR NOTES

CALGARY, AB, July 20, 2021 - Strathcona Resources Ltd. (“Strathcona”) announced today that it has closed its previously announced private offering (the “Offering”) under Rule 144A and Regulation S of the U.S. Securities Exchange Act of 1933, as amended (the “U.S. Securities Act”), to eligible purchasers, of U.S.$500 million in aggregate principal amount of 6.875% senior unsecured notes due in 2026 (the “Notes”).

Strathcona used the net proceeds from this Offering to repay a portion of the outstanding borrowings under its revolving credit facility and operating facility without cancelling the revolving commitments thereunder and repay a portion of the outstanding borrowings under its term loan facility.

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STRATHCONA RESOURCES LTD. ANNOUNCES PRICING OF ITS PRIVATE OFFERING OF U.S.$500 MILLION OF SENIOR NOTES

CALGARY, AB, July 15, 2021 - Strathcona Resources Ltd. (“Strathcona”) announced today that it has priced a private offering (the “Offering”) under Rule 144A and Regulation S of the U.S. Securities Exchange Act of 1933, as amended (the “U.S. Securities Act”), to eligible purchasers, of U.S.$500 million in aggregate principal amount of 6.875% senior unsecured notes due 2026 (the “Notes”). The Offering is expected to close on or about July 20, 2021 subject to customary closing conditions.

Strathcona intends to use the net proceeds from this Offering to repay a portion of the outstanding borrowings under its revolving credit facility and operating facility without cancelling the revolving commitments thereunder and repay a portion of the outstanding borrowings under its term loan facility.

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Strathcona Resources Ltd. Announces Proposed Private Offering of U.S.$500 Million of Senior Notes

CALGARY, AB, July 13, 2021 /CNW/ - Strathcona Resources Ltd. ("Strathcona") announced today that it is planning to commence, subject to market and other conditions, a private offering (the "Offering") under Rule 144A and Regulation S of the U.S. Securities Exchange Act of 1933, as amended (the "U.S. Securities Act"), to eligible purchasers, of U.S.$500million in aggregate principal amount of senior unsecured notes due 2026 (the "Notes"). 

Strathcona intends to use the net proceeds from this Offering, if completed, to repay a portion of the outstanding borrowings under its revolving credit facility and operating facility without cancelling the revolving commitments thereunder and repay a portion of the outstanding borrowings under its term loan facility.

Read more: Strathcona Resources Ltd. Announces Proposed Private Offering of U.S.$500 Million of Senior Notes

Waterous Energy Fund announces the amalgamation of Strathcona Resources Ltd. and Osum Oil Sands Corp. and the closing of a new C$1.0 billion covenant-based credit facility

Transaction creates the largest private equity-owned oil producer in North America, with ~ 1.7 BnBoe of 2P reserves, ~80,000 Boe / d of production, and a ~60-year reserve life

Financing marks the first new covenant-based loan issued to a Canadian oil and gas producer since 2018 and the first ever for a private exploration and production company in Canada

CALGARY, AB, June 11, 2021 /CNW/ - Waterous Energy Fund (“WEF”) today announced the closing of the amalgamation of its two portfolio companies, Strathcona Resources Ltd. (“Strathcona”) and Osum Oil Sands Corp. (“Osum”). The amalgamated entity will continue in business under the name Strathcona Resources Ltd. and will remain 100% owned by WEF, WEF co-investors and Strathcona employees. Strathcona is the product of nine separate transactions completed by WEF since 2017, including three take-private transactions and two bankruptcy situations.

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Waterous Energy Fund announces the combination of Strath Resources Ltd. and Cona Resources Ltd. to create the leading private North American oil producer, Strathcona Resources Ltd.

Calgary – August 14, 2020 – Waterous Energy Fund (“WEF”) today announced the amalgamation of two portfolio companies, Cona Resources Ltd. (“Cona”) and Strath Resources Ltd. (“Strath”), to form Strathcona Resources, Ltd. (“Strathcona”). Strathcona is the largest wholly private equity-owned, oil- weighted producer in North America, with production of ~60,000 Boe / d (67% oil and liquids), a 40- year reserve life index, industry-leading full-cycle margins, a base oil decline rate of approximately 10%, and low carbon emissions per barrel. Strathcona is a uniquely positioned producer with a portfolio of condensate and natural gas production to complement its heavy oil operations. Strathcona is 100% owned by WEF and Strathcona employees.

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