05:19 PM EDT, 07/02/2025 (MT Newswires) -- ARC Resources (ARX.TO) after trade Wednesday said it closed the $1.6 billion purchase of condensate-rich Montney assets in the Kakwa region of Alberta from Strathcona Resources ( STHRF ) .

The acquired assets are expected to produce 35,000 to 40,000 barrels of oil equivalent per day for the rest of 2025, split roughly 50-50 between crude oil, natural-gas liquids and natural gas, the company said, adding that it will update its 2025 outlook on July 31.

ARC expects to have about $2.8 billion in net debt after the deal closes, while still maintaining a "strong" financial position. This includes $2 billion in senior notes, a $500 million term loan, and the rest drawn from its upsized $2 billion credit facility, it said.

The company's shares closed down $0.86 to $27.85 on the Toronto Stock Exchange