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CALGARY, Alberta (Reuters) - ARC Resources Ltd’s C$2.7 billion ($2.1 billion) bid to buy Seven Generations Energy Ltd will create the largest oil and gas producer in Canada’s Montney region, and may re-energize development in one of North America’s top shale plays.
The combined company will have more financial strength to develop its 1.1 million net acres of land in a region that investors and drillers say has so far struggled to meet its full potential.
The deal could also spur further acquisitions in a play that boasts attractive drilling economics and huge resource potential as oil and gas prices tentatively recover.