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Spartan Energy Corp. acquires C$700M of assets from ARC Resources Ltd.

Date Closed

December 8, 2016

Lead Office

Calgary

Value

700.00 Million CAD

On December 8, 2016, Spartan Energy Corp. successfully closed the previously-announced acquisition of strategic assets in southeast Saskatchewan (the "Assets") from ARC Resources Ltd. for a total cash consideration of C$700 million, subject to customary adjustments (the "Acquisition").

The Assets include high quality, low decline, operated production and a large land base which is highly complementary to Spartan's existing operations in southeast Saskatchewan. The Acquisition resulted in Spartan becoming one of the largest oil producers in Saskatchewan and represents a continuation of Spartan's strategy to develop an asset base that is capable of funding repeatable, low risk growth within a subset of cash flow. 

Spartan Energy Corp. is an oil and gas company based in Calgary, Alberta.

McCarthy Tétrault LLP advised Spartan with a team led by Sony Gill that included Craig Spurn, Dominic Thérien, Hass Keshavji, Kristen Haines and Scott Bergen.

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