March 10 (Reuters) - Canada's oil and gas firm Whitecap

Resources ( SPGYF ) will merge with peer Veren ( VRN ) in an

all-share deal including debt to form a C$15 billion ($10.43

billion) company, the companies said on Monday.

The combined company will be the largest landholder in

Alberta Montney and Duvernay - regions that hold some of the

biggest shale resources in Canada and have seen significant

investment in recent years.

The North America energy sector has seen a wave of deals in

past two years, and the sector's focus on consolidation of core

growth areas and improvement of operational efficiency is

expected to continue in 2025.

The combined company is estimated to have production of

370,000 barrels of oil equivalent per day (boepd), of which 63%

will be liquids.

Whitecap has offered 1.05 of its shares for each Veren ( VRN ) share

held, or C$9.82 based on the last close. It represents a 39%

premium to Veren's ( VRN ) close on Friday.

Whitecap shareholders will own about 48% of the combined

company, while Veren ( VRN ) shareholders will own the rest following

closure of the deal, expected before May 30.

The combined company would be led by Whitecap's existing

management team under the Whitecap name. Four Veren ( VRN ) directors

would join the company's board, which would include Craig

Bryksa, the current CEO of Veren ( VRN ).

($1 = 1.4384 Canadian dollars)