Strathcona Resources Limited

SCR

Equity

ISIN null / Valor 129411191

Toronto Stock Exchange (2026-05-04)

CAD 45.12+0.96%

Strathcona Resources Limited
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About company

Strathcona Resources Limited is a Canadian oil and gas company engaged in the exploration, development, and production of conventional and unconventional resources. The company operates across Western Canada, with significant activities in the Montney and Lloydminster Heavy Oil regions. Strathcona's business encompasses a range of operations including drilling, completions, construction, facility engineering, and supply chain management. The company has a strong focus on thermal development and employs advanced techniques in geosciences and reservoir engineering to optimize production. Strathcona recently expanded its market presence by acquiring Pipestone Energy Corp., a TSX-traded development and exploration company, through an all-share transaction. The leadership team at Strathcona brings extensive industry experience, with backgrounds in major energy firms such as BP Canada Energy, Apache Corporation, and ConocoPhillips, ensuring a robust approach to managing and developing its diverse asset base.

Summarized from source with an LLMView SourceSector: Energy

Q4 2025 financials

Q4 production 117,715 boe/d (100% liquids). Operating Earnings: $146 million ($0.68/share). Free Cash Flow: $53 million ($0.25/share). Q4 free cash flow was reduced by $75 million of realized hedging losses from WCS swap restructuring.

Full‑year 2025 results

FY 2025 production 152,163 boe/d (86% liquids). Operating Earnings: $930 million ($4.34/share). Free Cash Flow: $364 million ($1.70/share). Full‑year capex was $1,186 million vs. a $1,200 million budget.

Reserves and capital efficiency

YE 2025 reserves — PDP 241 MMboe, 1P 1,226 MMboe, 2P 2,166 MMboe (PDP/1P/2P growth of 2%/5%/7% from continuing ops). PDP F&D $21.24/boe (PDP recycle ratio 1.8x); excluding ~ $400M Meota/Cold Lake spend, PDP F&D ≈ $12.25/boe (recycle 3.1x). 297% organic 2P replacement; 2P Reserves Life Index 51 years (1P 29 years). 1P and 2P after‑tax PV‑10 net of debt: $32.05/share and $49.46/share.

Dividends and capital returns

Board declared quarterly dividend $0.30/share payable March 27, 2026 (record March 20, 2026). Board approved filing for NCIB to repurchase up to 5% of outstanding shares (≈10.7M shares), subject to TSX approval.

Operations, projects and M&A

Cold Lake ramping LDWs (strong LDW performance at Tucker). Meota Central on track: first oil targeted Q4 2026, peak ~13 Mbbls/d, total installed cost ≈ $360M (85% complete). Lloydminster: closed Vawn acquisition (integrated with Edam) and expects to materially increase Vawn production by end‑2026. Closed acquisition to increase interest and take operatorship of Selina for $23M; Selina estimated ~160 MMbbls recoverable (previously not booked).

Hedging, liquidity and 2026 outlook

WTI exposure remains unhedged for 2026. Approximately 50% of WCS Hardisty differential hedged at US$12.00/bbl and ~80% of natural gas purchase exposure hedged at C$2.00/GJ AECO. 2026 guidance unchanged: production 120–130 Mbbls/d, capital budget $1.0 billion; expect 115–120 Mbbls/d in H1 2026, ramping to ~135 Mbbls/d exit. Long‑range target: 125 Mbbls/d (2026) → 200 Mbbls/d (2031) → 300 Mbbls/d (2035).

Summarized from source with an LLMView Source

Key figures

76.5%1Y

%3Y

%5Y

Performance

50.3%1Y

44.1%3Y

44.1%5Y

Volatility