Strathcona Resources completes special distribution payments; shares dive

Shares of Canadian oil and gas producer Strathcona Resources SCR.TO plunge 24.8% at C$29.44 in early market trading after completing a C$10 per share special distribution

Co increases size of its credit facility to C$3.49 billion from C$3.25 billion previously

SCR expects to have ~C$2.1 billion in debt outstanding as of year-end 2025 and C$1.4 billion of liquidity on its amended credit facility

SCR also reports C$1.39 billion in cash proceeds from the sale of its marketable securities, reflecting a C$101 million gain

Brokerage ATB Capital Markets cuts PT to C$32 from C$42 to reflect the end of the due bill trading period and ex-distribution status

Including session's moves, SCR down ~3.7% YTD