On June 12, 2014, Polar Star Canadian Oil and Gas, Inc. ("Polar Star"), a private western Canadian oil and gas producer, sold all of its Saskatchewan Viking oil assets (the "Viking Assets") to Crescent Point Energy Corp. ("Crescent Point"). The Viking Assets include all of Polar Star's assets in the Viking play at Dodsland, Saskatchewan. The total consideration for the Viking Assets was comprised of approximately 7.6 million Crescent Point shares and $2 million cash, or approximately $334 million, based on the five-day weighted average price of Crescent Point shares prior to the execution of the Viking Acquisition purchase and sale agreement in mid-May of $43.88 per Crescent Point share.
The Norton Rose Fulbright team advised Polar Star on all aspects of the asset sale. We also provided corporate advice to Crescent Point on certain aspects of the acquisition. The team was led by Dion Legge, Rujuta Patel, Kevin Ackhurst.