Whitecap Resources, (OTCPK: SPGYF), and Veren Inc, (NYSE:VRN) agreed to a no-cash, all-stock merger the other day, finalizing a long-rumored notion making the rounds in chatrooms. Both companies have previously been active in Canadian M&A, with Whitecap acquiring XTO Canada in 2022 for $1.9 bn. Formerly known as Crescent Point, Veren Inc. made a similar move with its $1.7 bn pickup of Spartan Delta’s Montney acreage in 2023 and followed that quickly with another multi-billion dollar deal taking out Hammerhead Energy later the same year.…
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