ARX
TSX · Montney condensate and gas · 7 desk pieces in archive
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On July 10 the B.C. Environmental Assessment Office amended Cedar LNG's certificate to 500 MMcf per day of liquefaction, about 3.75 million tonnes a year, up from 3.0. Pembina and the Haisla Nation still target in-service in late 2028.
On September 3 ARC said it issued redemption notices for all five series of senior unsecured notes, redeeming September 14. The notes span 2028 through 2033 coupons between 3.349 percent and 4.409 percent. ARC closed into Shell on September 2.
ARC said September 2 Shell completed the arrangement at about CAD 22 billion including net debt. Each share gets 0.40247 Shell shares and $8.20 cash. Shell cited about 370 kboe per day. TSX delisting is two trading days after close. Shell share delivery may take several days.
S&P Dow Jones said August 27 ARC leaves the S&P/TSX Composite before trading September 2. Each ARX share exchanges for 0.40247 Shell shares and $8.20 cash. Close is on or about September 2. Shell applied September 1 to list 228 million new shares September 3.
ARC said August 25 Investment Canada cleared the Shell arrangement. Close is on or about September 2. The April deal is about $22 billion including net debt. ICA, Competition Act, transportation, and HSR approvals are in. Shareholder and court votes passed in July.
On August 25 ARC said Ottawa approved the Shell arrangement under the Investment Canada Act. Shareholders and the Alberta court already said yes in July. Close is now on or about September 2, subject to customary conditions. The April 27 deal was about $22 billion including assumed net debt.
B.C. approved Cedar LNG at 3.75 million tonnes a year, up 25 percent. The Haisla-majority plant targets late 2028. Woodfibre near Squamish is about 60 percent built for 2027. Together with Kitimat they would give Canada three Pacific export docks.