Enerplus Acquires Celsius Energy

Calgary-based Enerplus Resources Fund, acquired all the shares and debt of Celsius Energy Resources Ltd. from Questar Exploration and Production Company, a Canadian subsidiary of U.S.-based Questar Corporation, for an aggregate purchase price of $165.9 million after working capital adjustments. The deal closed on October 21, 2002.

Enerplus was represented by Blake, Cassels & Graydon LLP, with a team comprised of Brock Gibson, Mungo Hardwicke-Brown, Chad Schneider, Chris Christopher, Carrie Giroux and Janan Paskaran (corporate and securities), Ron Mar (tax) and Gerry Deyell and Scott Hyndman (competition).

Questar was represented by Macleod Dixon LLP, with a team comprised of Terrance Hughes, Chrysten Perry and Chandra Mazuryk (corporate and competition) and Jim McKee (tax).