Strathcona Resources to buy Serafina Energy for $2.3-billion

Strathcona Resources has agreed to buy private equity-backed Serafina Energy for $2.3-billion , sources with direct knowledge of the matter told Reuters on Wednesday, marking the largest acquisition by the Canadian private oil and gas producer.

Reuters reported in March that Serafina’s private equity owners, Pine Brook Partners and Camcor Partners, were eyeing a sale of the company. Owned by Waterous Energy Fund, Strathcona has been among the top buyers of oil and gas assets in Canada since its formation in 2020, hoping to profit from oil prices trading near or above $100 per barrel since Russia’s invasion of Ukraine.

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