On July 6, 2017, Apache Corp. announced three concurrent transactions for a total value of approximately $927 million. Apache Canada Ltd. sold assets in Saskatchewan and Alberta to Cardinal Energy Ltd., and assets in Alberta to an undisclosed privately owned company. Apache Corp. then sold the shares of Apache Canada Ltd. to Paramount Resources Ltd.
Apache Canada Ltd. is a Calgary-based, wholly owned subsidiary of Apache Corporation, a highly successful U.S. independent oil and gas exploration and production company.
Osler, Hoskin & Harcourt LLP represented Apache with a team consisting of Janice Buckingham (Energy), Noralee Bradley (Corporate), Ted Thiessen (Taxation), and Peter Glossop (Competition/Antitrust).