US EditionWhitecap, Veren Complete $15B Merger to Form Canada’s 7th Largest Oil Producer
- Whitecap Resources Inc. Completed its $15 billion merger with Veren Inc. On May 12, 2025, forming Canada’s seventh largest oil producer under the Whitecap name.
- The merger was approved by a significant majority of shareholders, with nearly 89% of Whitecap’s and almost 100% of Veren’s investors supporting the transaction, demonstrating widespread endorsement of the deal.
- The combined company holds the largest acreage position across the Montney and Duvernay formations in British Columbia and Alberta, along with a significant light oil presence in Saskatchewan.
- Whitecap anticipates daily production to range from 295,000 to 300,000 barrels of oil equivalent in the current year, plans to invest approximately $2 billion in capital expenditures, and has raised $270 million by selling non-core assets.
- CEO Grant Fagerheim expects cost savings exceeding $200 million from the integration, notes that workforce reductions will be necessary, and remains committed to maintaining strong shareholder returns despite ongoing market fluctuations.
14 Articles
14 Articles
SooToday.com
Whitecap Resources' $15B combination with Veren now official
CALGARY — The $15-billion deal to combine of Whitecap Resources Inc. and Veren Inc. has closed, creating Canada's seventh largest oil and gas producer. The new company is operating under the Whitecap name and management team.
The shark gets swallowed: Whitecap closes Veren (formerly Crescent Point) strategic combination
Crescent Point drilling in 2018. Photo by Brian Zinchuk The company previously known as Crescent Point has been swallowed CALGARY, ALBERTA – The company that pretty much defined Saskatchewan’s Bakken Boom, gobbling up over 30 companies (most of them in southeast Saskatchewan) is no more. Known for most of its history as Crescent Point Energy Corp., and as Veren Inc, for the last year, the most significant serial acquirer in Saskatchewan in rec…
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