The combination will form largest Canadian light oil focused producer
(New York, NY, March 17, 2025), Carter Ledyard announced today that its client, Veren, has agreed to merge with Whitecap Resources, in a $15 billion transaction that will redefine the Canadian leading light oil and condensate producer with significant assets in Alberta’s Montney and Duvernay formations. Carter Ledyard’s Cross-Border Canada Practice handled the U.S. aspects of the deal.
The combined entity will hold the largest land position in Alberta Montney and Duvernay and rank as the seventh-largest producer in the Western Canadian Sedimentary Basin, once obtaining the necessary approval of the shareholders of both companies and will also need court and regulatory approvals before closing, expected May 30, 2025.
Guy Lander, head of the Cross Border Canada practice, led the deal with Partner, Guy Ben-Ami, Partner, Austin Keyes, and Paul J. Brown III.