Whitecap Resources to merge with Veren in a CAD15bn deal.

Whitecap Resources, a company that explores for oil and natural gas, agreed to merge with Veren, a producer of oil and natural gas, in a CAD15bn deal. "We are excited to bring together two exceptionally strong asset bases to create one world-class energy producer with one of the deepest inventory growth sets of both liquids-rich Montney and Duvernay opportunities, along with conventional light oil opportunities in some of the most profitable plays in the Western Canadian basin. Our combined company will include exceptional technical and support personnel from the two companies in both the office and field and an experienced Board of Directors that prioritizes sustainable and profitable growth to generate strong returns for our combined shareholders. We look forward to bringing Whitecap and Veren together and providing increased value to both sets of shareholders well into the future," Grant Fagerheim, Whitecap President & CEO.