

Whitecap Resources to Acquire TORC Oil & Gas
Announced Date
December 09,2020
Deal Value $
430,000,000
Net Acres
96,000
Location Count
690
Transaction Type
Corporate
Buyer
Seller
Price Per BOE $
40,000
Source Documents:
Location
Multiples
Region
Canada
Country
Canada
Play
Production & Reserves Production
24,955 Boe/d
Production Mix
82 % Oil
Reserves
140 MMboe (2P)
Multiples
Production ($/boe/d)
17,231
$Price/Net Acre
4,479
$2P
Boe
3
$/Location
-823,478
Adj. $/acre is based on production
@40,000 Boe/d
Transaction Details:
Whitecap Resources has agreed to buy rival TORC Oil & Gas in an all-stock deal valued at about C$552 million (US$430.81 million).
Under the deal terms, shareholders of TORC will receive 0.57 Whitecap shares in exchange for each TORC share, representing a discount of about 4.3% to the last closing price of TORC shares.
Asset Details:
- Purchase price: $430 million (US)
- Acreage (not including conventional assets): 150 net sections or 96,000 net acres - includes 50 sections (32,000 acres) in Torquay/Three Forks and 100 sections (64,000 acres) in the Cardium
- 2P Reserves: 140 MMBOE
- Net Debt: $365 million
- Production (3Q'20): 24,995 Boe/d , 82% oil
- Drilling Locations: 690 (290 in Cardium and 400 in SE Sask Conventional)
Asset Map
Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
---|---|---|---|---|---|
Aug-22-2022 |
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Click here | British Columbia | E&P |
Aug-01-2022 |
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Click here | Alberta | E&P |
Jun-29-2022 |
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Click here | Alberta | E&P |
Dec-15-2021 |
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Click here | E&P | |
Nov-29-2021 |
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Click here | Alberta | E&P |
Date | Deal Headline | Price | $/acre |
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Sep-01-2020 | Whitecap Acquires Nal Resources in All-Stock Deal Worth $155MM | - ![]() |
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Jul-10-2020 | Tamarack Bolts On Property in West Central Alberta; 105,000 Net Acres | - ![]() |
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Apr-28-2020 | Return Energy Acquires Bulk of Bellatrix's Assets for $109 Million | - ![]() |
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Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
---|---|---|---|---|---|
Aug-09-2018 |
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Click here | E&P | |
May-08-2018 |
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Click here | Saskatchewan | E&P |
Nov-27-2017 |
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Click here | Alberta | E&P |
Nov-27-2017 |
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Click here | Saskatchewan | E&P |
Jul-25-2016 |
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Click here | Saskatchewan | E&P |
Other Whitecap Resources Inc. Deals
Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
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Jun-29-2022 |
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Click here | Alberta | E&P |
Apr-05-2021 |
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Click here | Alberta | E&P |
Sep-01-2020 |
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Click here | Alberta | E&P |
Nov-14-2017 |
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Click here | Saskatchewan | E&P |
May-11-2016 |
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Click here | Saskatchewan | E&P |