ARC Resources Ltd T.ARX

Licensing Details (RBC)

[retiredcf]

Oil and Gas Licensing Details

Oil and gas licenses from our coverage group in March 2023 include:

• Ovintiv (58) - 58 hz (Montney)

• Canadian Natural Resources (26) - 8 hz (Sparky); 6 hz (Montney); 5 hz (Wabiskaw); 5 hz

  (Dunvegan); 1 hz (Notikewin); 1 hz (Spirit River)

• ARC Resources (23) - 23 hz (Montney)

• Baytex Energy (19) - 14 hz (Viking); 3 hz (Clearwater); 1 hz (Colony); 1 hz (Waseca)

• Peyto Exploration & Development (18) - 6 hz (Falher); 6 hz (Wilrich); 4 hz (Notikewin); 2 hz

  (Dunvegan)

• Whitecap Resources (14) - 7 hz (Viking); 3 hz (Midale); 3 hz (Glauconitic); 1 hz (Shaunavon)

• Tourmaline Oil Corp (14) - 6 hz (Montney); 4 hz (Charlie Lake); 2 hz (Spirit River); 2 hz (Cardium)

• Crew Energy (10) - 10 hz (Montney)

• Headwater Exploration (10) - 10 hz (Clearwater)

• Crescent Point Energy (10) - 5 hz (Bakken); 4 hz (Duvernay); 1 hz (Shaunavon)

• Vermilion Energy (6) - 4 hz (Montney); 2 hz (Midale)

• Birchcliff Energy (6) - 6 hz (Montney)

• Cenovus Energy (3) - 1 hz (Waseca); 1 hz (Falher); 1 hz (Spirit River)

• Kiwetinohk Energy (4) - 2 hz (Duvernay); 2 hz (Montney)

• Pipestone Energy (3) - 3 hz (Montney)

• Kelt Exploration (2) - 2 hz (Montney)

• Tamarack Valley (2) - 2 hz (Charlie Lake)

  Clearwater Licensing Details

  Clearwater oil and bitumen wells licensed during March 2023 included:

• Baytex Energy (3) - 3 hz at Peavine (Analogues (Wilrich, Spirit River) 36-78-16W5; 18-78-15W5)

• Headwater Exploration (10) - 4 hz at Marten Hills (16-075-02W5; 13-075-02W5); 6 hz at Nipisi

  (Analogues (Ostracod) 08-079-09W5)

• Spur Petroleum (1) - 1 hz at McLeod Lake (16-080-02W5)

[Quintessential1]

Now I get to specualte a little bit.   A big player like Cenovus has only bought 3 licenses? Now I know they have a lot of tar sands mining for their oil needs but the COO said they were looking at ways to reduce their condensate expense.  I don't think 3 wells in lower condensate areas is trying very hard.  Wouldn't it make more sense to buy the country's largest

[Trapped]

It makes a lot of sense, Quint. Trolls aside, ARX has massive respect among bank analysts, market watchers and industry insiders alike. It would be a no brainer for a super-major looking to integrate and scale-up in advance of the coming LNG boom. And I'm with you; I'll happily hold my position as the buybacks alone provide a lot of future upside, to say nothing of its stellar balance