Locator: 50640MOTNEY.
ARC Resources:
- Toronto Stock Exchange, market cap: $17.6 billion;
- headline number: $16 billion -- Shell's price to acquire TSE:ARX;
- operations focused in the Montney resource play in Alberta and northeast British Columbia;
- Montney: tracked at the sidebar on the right (link here)
Shell's market cap: $242 billion.
XOM's market cap: $616 billion.
A few paragraphs taken from an RBN Energy blog, dated November 18, 2025:
First, considering natural gas production, Ovintiv was already a sizable player, recording a quarterly average of 427 MMcf/d , making it the second-largest producer on the Alberta side of the [Montney] formation behind ARC Resources and just ahead of Whitecap (the combined Whitecap and Veren output).
NuVista, though at the back of our pack, was punching out 241 MMcf/d. The simple arithmetic of combining the two companies’ gas output would place Ovintiv in the lead at 667 MMcf/d (OVV+NVA, red bar). This would be another feather in Ovintiv’s cap if that lead can be maintained and make it the largest Montney natural gas producer in Alberta and BC. Of the seven companies we have listed, their combined output captured 87% of the gas production from the Alberta Montney, so production concentration will be further increased with the merger.
As for those highly prized condensate barrels, Ovintiv and NuVista were already the second- and third-largest producers, respectively. Their combined output of 66 Mb/d would close the gap with front-runner ARC Resources, a company very much focused on growing its natural gas and condensate output. Production concentration will be further enhanced with the companies in our list accounting for a combined 93% of Alberta Montney condensate output.
Every day the strait remains closed, the more irrelevant Qatar (LNG) and Saudi Arabia (oil) become.
