Athabasca Oil Corporation sells non-core light oil assets for C$160M

On September 14, 2023, Athabasca Oil Corporation closed the sale of its non-core light oil assets for C$160 million. The transaction included selling its 70% operated working interest in Placid targeting the Montney, its 30% non-operated working interest in Saxon and Simonette targeting the Duvernay and other associated non-core Placid Montney assets to a private company for C$160 million in cash, before closing adjustments.

Athabasca Oil, headquartered in Alberta, Canada, is a Canadian energy company.

McCarthy Tétrault advised Athabasca Oil with a team led by Kerri Howard that included John Osler K.C., Ashley Urch (Business), Debbie Salzberger, Kate McNeece (Competition) and Kara Smyth (Litigation).