Traverse Energy undergoes court appointed sale of assets to Barrel Oil Corp.

In May 2020, Traverse Energy Ltd. underwent a sales and investment solicitation process (SISP), in which it sold all of its remaining oil and natural gas properties to Barrel Oil Corp. for C$3.25 million. The Court of Queen’s Bench of Alberta approved the SISP and Ernst & Young Inc. served as court-appointed receiver and manager.

Barrel Oil Corp is an upstream oil and gas exploration and production company operating in the Western Canadian Sedimentary Basin.

McCarthy Tétrault advised Traverse Energy with a team led by Brian Bidyk that included Jamie Gibb.