WEF-backed Strathcona Resources, a private oil and gas producer, completed the acquisition of Pipestone Energy, an oil exploration company, for $8.7bn. "The acquisition of Pipestone by Strathcona reflects the successful culmination of growing and delineating our asset base over the past four years. This all-share transaction delivers shareholders ongoing exposure to one of the largest, well diversified, upstream producers in North America, which has the capacity to grow its production meaningfully over the next decade," Dustin Hoffman, Pipestone COO and interim CEO.