Anegada Oil Corp. is acquired by Tamarack Valley Energy Ltd. for C$494M

On April 12, 2021, Tamarack Valley Energy Ltd. announced a definitive agreement to acquire Anegada Oil Corp. for C$494 million. The total net consideration consists of C$247.5 million in cash and debt (net of GORR), subject to adjustment, and approximately 105.3 million common shares of Tamarack.

Tamarack is an oil and gas exploration and production company committed to the identification, evaluation and operation of resource plays in the Western Canadian Sedimentary Basin.

Anegada Oil Corp. is a privately held light-oil producer operating in Charlie Lake, Alberta.

McCarthy Tétrault is advising Anegada Oil Corp. with a team led by Brian Bidyk that includes Jamie Gibb, Prateek Gupta, Nathan Robb, and Matt Hooker (M&A), Michel Ranger (Tax), Jonathan Bitran (Competition).