Pengrowth Energy Corporation (“Pengrowth”) and NAL Energy Corporation (“NAL”) completed a strategic business combination whereby Pengrowth acquired all of the issued and outstanding common shares of NAL in a transaction valued at approximately $1.9 billion, including assumed debt.
Pengrowth is an intermediate Canadian oil and natural gas producer headquartered in Calgary with a focus on the development of unconventional resource-style plays in the western Canadian Sedimentary basin.
NAL was a Calgary-based intermediate Canadian oil and natural gas producer with assets in southeastern Saskatchewan, central Alberta, and northeastern British Columbia.
Pengrowth was represented by Burnet, Duckworth & Palmer LLP with a team including Grant Zawalsky, Shannon Gangl, Syd Abougoush, Bronwyn Inkster and Kerry McGinnis (securities); Jody Wivcharuk (competition); Jeff Fortin and Heather DiGregorio (tax) and Nancy Smith and Simina Ionescu-Mocanu (banking).
NAL was represented by Bennett Jones LLP with a team that included John Kousinioris, Jon Truswell, Tim Robson, Matthew Olson and John Lawless (capital markets and M&A); Beth Riley (competition); Scott Bodie (tax) and Denise Bright (financial services).