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

Date Closed

May 29, 2020

Lead Office

Calgary

Value

3.25 Million CAD

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 represented Traverse Energy with a team led by Brian Bidyk that included Jamie Gibb.

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