One-Page Deal Sheet
CNRL to Acquire Montney-Focused Storm Resources in $960MM Deal
Canadian Natural Resources (CNRL) Storm Resources Ltd.
Announced Date
November 29,2021
Close Date
December 17,2021
Transaction Type
Corporate
Enterprise Value (EV)($MM)
960
Location
Calculated Metrics( EV/Category)
Region
Canada
Country
Canada
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Subscribe to see
Canadian Natural Resources Ltd. has agreed to acquire Storm Resources Ltd. in an all-stock deal worth $960 million.
CNRL will acquire all of the issued and outstanding common shares of Storm for cash consideration of $6.28 per Storm Share.
The deal is expected to close in December 2021.
Storm Resources Portfolio: Acreage: 120,000 net acres Production: ~27,000 BOEPD (82% natural gas) AdvisorsStifel FirstEnergy acted as exclusive financial advisor to Storm in connection with the Transaction and has provided a verbal fairness opinion that, subject to review of the final form of documents…
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