ORLEN Upstream Canada Ltd. acquires Kicking Horse Energy Inc.

On December 1, 2015, ORLEN Upstream Canada Ltd. (ORLEN Upstream Canada), a wholly owned subsidiary of PKN ORLEN S.A. (PKN ORLEN), completed its acquisition of all of the outstanding common shares of Kicking Horse Energy Inc. (Kicking Horse) pursuant to an arrangement under the Business Corporations Act (Alberta) (the Arrangement) for approximately $356M. The acquisition of Kicking Horse aligns with PKN ORLEN’s strategy of investing in attractive, low-risk jurisdictions such as Canada and expands ORLEN Upstream Canada’s Canadian asset portfolio. Kicking Horse’s core assets are strategically located in the Greater Kakwa area of Alberta. 

Norton Rose Fulbright Canada LLP acted as legal counsel to ORLEN Upstream Canada, with a team led by Marcus Archer and including Robert Froehlich, John Carleton, Dion Legge, Bernette Ho, Steve Leitl, Marlow Gereluk, Jason Giborski and Grant Stevens. 

Burnet, Duckworth & Palmer LLP acted as legal counsel to Kicking Horse with a team led by Bruce Allford and including Jessica Brown and Syd Abougoush (securities), Jody Wivcharuk (competition), Shannon Wray (litigation), Jeff Fortin (tax) and Bob Graham (employment).