Phoenix Energy acquires stake in Dover project from Athabasca Oil

Athabasca Oil Corporation completed the sale of its 40 per cent interest in the Dover oil sands project to Phoenix Energy Holdings Limited, a wholly owned subsidiary of PetroChina International Investment Limited for approximately $1.184 billion.

Athabasca is a Canadian energy company with a diverse portfolio of thermal and light oil assets primarily situated in Alberta's Western Canadian Sedimentary Basin.

Phoenix was represented by Stikeman Elliott LLP with a team that included Chris Nixon, Keith Chatwin, Michael Dyck, Edith Gillespie and Andrew Wong.

Athabasca was represented by Burnet, Duckworth & Palmer LLP with a team that included Alicia Quesnel, Carolyn Wright, Hazel Saffery and John Wilmot.