Chinook Energy Inc. Common CNKEF

From BLOOMBERG, about ARX's Montney expansion & CKE's buyout

[Miner1967]

Canadian energy producer ARC Resources Ltd. is working with Royal Bank of Canada to sell a package of oil and natural gas properties that could fetch more than C$500 million ($380 million), according to people familiar with the matter.

The assets, in southeastern Saskatchewan, produced 7,777 barrels of oil equivalent per day in the three months ended June 30, according to the company’s website. The properties could fetch C$500 million to C$750 million, one of the people said.

The portfolio for sale includes ARC’s conventional oil production assets and its working interests in two fields, Weyburn and Midale, one of the people said.

Representatives for ARC and RBC declined to comment.

Calgary-based ARC has signaled plans to sell off several non-core properties as it focuses on projects with higher returns, particularly projects in the Montney Basin in Western Canada, said Jeremy McCrea, an analyst at Raymond James in Calgary.

The link from BLOOMBERG:

ARC Resources Said to Hire RBC for Sale of Saskatchewan Assets

ARC Resources Said to Hire RBC for Sale of Saskatchewan Assets Canadian energy producer ARC Resources Ltd. is working with Royal Bank of Canada to sell a package of oil and na...