In a bold move to streamline its portfolio and sharpen its focus, Strathcona announced the sale of its Montney assets for $2.84 billion. This transformational transaction accelerates Strathcona’s strategy to become a pure-play heavy oil producer, while unlocking value and maintaining financial flexibility.

Strathcona Resources Ltd. agreed to buy Saskatchewan-oil explorer Serafina Energy Ltd. for C$2.3 billion ($1.8 billion), the latest acquisition by the closely held Canadian energy company, according to a person familiar with the transaction