|Date Announced:||December 14, 2016|
|Date Closed:||January 31, 2017|
|Deal Value:||C$435 million cash, 100 million common shares and contingent value payments triggered at oil prices above US$65/bbl WTI|
|Client Name:||Statoil ASA|
Statoil ASA, in connection with the sale of its Alberta oilsands assets to Athabasca Oil Corporation for the consideration of $435 million cash, 100 million common shares and contingent value payments triggered at oil prices above US$65/bbl WTI. The sale includes the Leismer Thermal Oilsands Project and Corner Oilsands Project located in Northern Alberta together with other assets and infrastructure. The Leismer Oilsands Project produces 24,000 barrels-per-day and is located south of Fort McMurray, Alberta. This acquisition will be effective as of January 1, 2017, with an anticipated closing date of early 2017.
Bennett Jones is acting as principal legal counsel for Statoil in this transaction, with a team led by Jean-Pierre Pham (Oil and Gas and M & A). The team includes Robert Booth, Ashley White, Brad Eidsness, Kevin Zhou (Oil and Gas), Beth Riley (Competition), Kahlan Mills, Jeremy Russell (Corporate and Securities), Christine Plante (Employment), Brad Gilmour (Regulatory) and Alan Rautenberg (Tax).