Athabasca Oil and Murphy Oil complete joint venture

On May 13, 2016, Athabasca Oil Corporation (Athabasca) and Murphy Oil Company Ltd. (Murphy), completed the previously announced light oil joint venture to develop Duvernay and Montney plays in the Kaybob area of northwestern Alberta for approximately $486 million. 

Athabasca is a Canadian energy company based in Calgary with a focused strategy on the development of thermal and light oil assets. Murphy owns and operates extensive upstream exploration and production assets in Canada and is the Canadian subsidiary of Murphy Oil Corporation based in El Dorado, Arkansas. 

Athabasca was represented by Athabasca’s Anne Schenkenberger, VP General Counsel and Corporate Secretary and Sarah Nossiter, Senior Legal Counsel and by Burnet, Duckworth & Palmer LLP with a team that included Sean Korney, Jody Wivcharuk, Ashley Weldon, Cassandra Calder and Jon Ozirny (energy), John Wilmot and Nancy Smith (banking) and Bill Maslechko and Lindsay Cox (securities). 

Murphy was represented by Murphy’s in-house legal team consisting of Walter Compton (Executive Vice President and General Counsel), Mike Jackson (Senior Attorney) and Thiago Cooper (Attorney) and by Bennett Jones LLP with a team that included Vivek Warrier, Kieran Ryan, Domenic Puglia (energy), Will Osler (securities), Phil Backman (banking), Darcy Moch (tax) and Beth Riley (competition).