Calgary's Energy Sector Delivers: Strathcona Resources Approves $2.1 Billion Special Distribution
Court Gives Green Light to Billions
Strathcona Resources Ltd., a prominent Calgary-based heavy oil producer, has secured final court approval for a substantial $10.00 per share special distribution, totaling approximately $2.142 billion in aggregate. The Court of King's Bench of Alberta issued its final order on November 28, 2025, following shareholder approval received the previous day. This significant payout is anticipated to be effected on December 22, 2025.
Alberta's Legal Framework in Focus
The approval process, conducted under a plan of arrangement pursuant to Section 193 of the Business Corporations Act (Alberta), underscores the robustness of Alberta's legal and corporate finance framework. Recent amendments to Section 193 have empowered Alberta courts with greater discretion in such matters, ensuring comprehensive legal oversight and safeguarding investor protection for large-scale capital movements within the province.
Major Boost for Calgary's Economy
This massive distribution from a Calgary-headquartered firm highlights the enduring economic impact of the energy sector on the city. As a global energy hub, Calgary's economy, including its vital financial services sector, stands to benefit from the ripple effect of such significant capital returns. While Calgary diversifies its economic base, events like this powerfully affirm the energy industry's continued financial strength and its role in wealth generation.
Key Dates and Shareholder Information
Strathcona's common shares (TSX: SCR) will trade under existing CUSIP and ISIN numbers (862952108/CA8629521086) until the close of business on December 22, 2025. New numbers (862952207/CA8629522076) will be assigned at market open on December 23, 2025. Shareholders have until 5:00 p.m. (Calgary time) on December 16, 2025, to elect to receive the distribution as a return of capital, as detailed in the company's October 28, 2025, management information circular. Odyssey Trust Company serves as the registrar and transfer agent.