Crescent Point Energy Corp. acquires CanEra Energy Corp.

On May 15, 2014, Crescent Point Energy Corp. (Crescent Point), one of Canada’s largest light and medium oil producers, completed its previously announced acquisition of CanEra Energy Corp (CanEra) by way of plan of arrangement.

Pursuant to the arrangement, Crescent Point acquired all the issued and outstanding shares of CanEra, a privately held southeast Saskatchewan oil and gas producer with a large Torquay land position and production of approximately 10,000 boe/d. The total consideration for CanEra, was approximately $1.1 billion, including approximately 12.9 million common shares of Crescent Point, approximately $190 million of cash consideration and the assumption of approximately $348 million of net debt.

The Norton Rose Fulbright team advised Crescent Point on corporate, securities, employment, tax and competition matters relating to the acquisition. The team was led by Mark Eade and included Justin Ferrara, Dion Legge, Rashi Sengar and Krista Treasure.