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Storm Resources Ltd

Company Summary

Description

Storm Resources Ltd. commenced operations on August 17, 2010 after certain assets were transferred to Storm as part of the Plan of Arrangement involving the sale of Storm Exploration Inc. to ARC Resources Ltd. The same Storm management team has been involved in the growth of all three previous 'Storm' companies since November 1998. Storm has a focused asset base with large land positions in resource plays at Umbach and in the Horn River Basin in NE British Columbia which have multi-year drilling upside. Near term, Storm's efforts will be focused on advancing development of the liquids-rich Montney natural gas resource on its large land position at Umbach. Longer term, Storm continues to retain significant leverage to an improvement in natural gas prices through its position in the Muskwa and Otter Park shales of the Horn River Basin.

Website

http://www.stormresourcesltd.com/

Operational Regions

  • Western Canadian Sedimentary Basin

Financial Data:


Tickers:

  • SRX - Vancouver Stock Exchange

Recent news

  • 11/12/2021 - Storm Resources Records... (subscriber access)
  • 11/12/2021 - Storm Resources... (subscriber access)
  • 11/10/2021 - Canadian Natural... (subscriber access)
  • 8/16/2017 - Storm Resources Reports... (subscriber access)
  • 8/16/2017 - Storm Resources Reports... (subscriber access)

Investor Presentations

  • Investor Presentation - December 2017
  • January 2018 Corporate Presentation (subscriber access)
  • Investor Presentation - July 2017 (subscriber access)
  • Investor Presentation - May 2017 (subscriber access)

Company Transactions

Date: 12/31/2021
Type: Acquisition

DETAILS:

COST: 960 $MM

VOLUMES: 27 MBOE/d

NOTES:
Canadian Natural Resources has agreed to purchase Storm Resources for a cash consideration of $6.28/share. The deal implied a Storm enterprise value of $960 million, and closing is planned for December 2021.
REGIONS:
  • Western Canadian Sedimentary Basin