Crescent Point closed the previously announced arrangement with Wild Stream Exploration Inc. to acquire approximately 5,400 boe/d of Wild Stream's production, 91 per cent of which is contiguous with Crescent Point's assets in the Shaunavon and Battrum/Cantuar areas of southwest Saskatchewan. Crescent Point also acquired more than 200 net sections of land in the Shaunavon resource play, 15 net sections of land in the emerging Beaverhill Lake light oil resource play in the Swan Hills area and 37 net sections of land in the Battrum/Cantuar area of southwestern Saskatchewan. The aggregate consideration for Wild Stream was approximately $610.9 million.
Crescent Point is a conventional oil and gas producer with assets strategically focused in properties comprising high-quality, long-life, operated light and medium oil and natural gas reserves in United States and Canada.
Crescent Point was represented by Norton Rose Canada LLP with a team including Mark Eade, Justin Ferrara, Rashi Sengar and Peter Allegretto (securities); Wayne Fedun (energy) and Dion Legge (tax).
Wild Stream was represented by Burnet, Duckworth & Palmer LLP with a team that included Gary Bugeaud, Tom Mix, Lindsay Cox, Bronwyn Inkster and Michael Eldridge (securities); David Ross and Elizabeth Toews (tax); Shannon Wray (litigation) and Carolyn Wright (energy).
Gowling Lafleur Henderson LLP acted as lead oil and gas counsel to Crescent Point Energy with a team that included Patrick Burgess, Sarah MacLeod, Bradley McFadden and Christine Yick.