Parex Resources Inc. acquires Verano Energy Limited

Parex Resources Inc. and Verano Energy Limited completed a plan of arrangement pursuant to which Parex acquired all the issued and outstanding shares of Verano for an approximate total value of $198 million.

Parex is a Canadian oil and gas company that is involved in crude oil exploration, development and production with properties focused in south America and the Caribbean region.

Verano is a privately owned oil and gas exploration and production company headquartered in Calgary, with operations exclusively in Colombia.

Parex was represented by Burnet, Duckworth & Palmer LLP with a team including Bruce Allford, Lindsay Cox and Sylvie Welsh (securities), Mark Houston (energy) and Jody Wivcharuk (competition); and by Anthony Strawson of Felesky Flynn LLP (tax).

Verano was represented by Dentons Canada LLP with a team including Chris Manderville, Adrienne O'Reilly, Bruce MacPhail, Peter Yates and Danielle Mayhew (securities) and Sebastian Elawny (tax).