The Globe and Mail reports in its Wednesday, June 18, edition that ATB Capital Markets analyst Patrick O'Rourke has reaffirmed his "sector perform" ranking for Strathcona Resources. The Globe's David Leeder writes that Mr. O'Rourke gave his share target a $3 boost to $35. Analysts on average target the shares at $31.80. Mr. O'Rourke is taking a positive view of Strathcona's strategic shift away from the Montney region of B.C. and Alberta to steam-assisted gravity drainage. Mr. O'Rourke says in a note: "Together, these transactions represent a shift in Strathcona's operational strategy, exiting the Montney and focusing on long-life in situ oil sands operations. The proposed combination would unite two heavy oil 'pure plays' focused on SAGD oil sands development, both with similar netbacks and RLIs. The merger would create Canada's fifth-largest oil producer and fourth-largest SAGD producer, possessing some of North America's largest proved oil reserves; this scale is expected to facilitate achieving an investment-grade credit rating. On our base case standalone basis, we now project Strathcona with 2026 estimated production of 123.8 mbbl/d [thousand barrels per day], with 2025 exit net debt of $212-million."