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Calgary advised Paramount Resources Ltd. and Trilogy Energy Corp. on their $3.3 billion merger

September 12, 2017 Client: Paramount Resources Ltd. and Trilogy Energy Corp.

The Calgary office advised Paramount Resources Ltd. and Trilogy Energy Corp. on their merger, pursuant to which Paramount acquired all of the shares of Trilogy not already owned by Paramount in exchange for Paramount shares. The merger resulted in Paramount having an enterprise value of approximately $3.3 billion upon completion. Paramount and Trilogy had the same principal shareholder and overlapping management so the transaction constituted a related party transaction under Canadian securities laws. The transaction involved the use of special committees of independent directors of each of Paramount and Trilogy, which each engaged independent legal and financial advisors, the preparation of formal valuations of the shares of both Paramount and Trilogy by a joint independent valuator and the approval of the transaction by the minority shareholders of both Paramount and Trilogy. The merger was effected in conjunction with Paramount’s $460 million acquisition of Apache Canada.

The team consisted of Kevin Johnson, Marcus Archer, Dion Legge, Steven Leitl, Rujuta Patel, Matt Longstaff, Saptarshi Chakraborty, Natasha Dhillon-Penner, Grant Stevens, Reid Yester.