Connacher Oil and Gas Limited completed the sale of its heavy-oil refinery and related assets located in Great Falls, Montana, to a wholly owned subsidiary of Calumet Specialty Products Partners, L.P., a leading refiner and processor of specialty hydrocarbon products in the United States.
Total cash proceeds received by Connacher Oil and Gas Limited, including the value of inventory and working capital, was approximately US$210 million.
Connacher Oil and Gas Limited is a Calgary-based exploration, development and production company active in the production and sale of bitumen.
Its principal asset is a 100 per cent interest in approximately 500 million barrels of proved and probable bitumen reserves located on the company's Great Divide oil sands leases near Fort McMurray, Alberta.
Calumet Specialty Products Partners, L.P. is a leading refiner and processor of specialty hydrocarbon products. Calumet operates six plants including operations in Northwest Louisiana, Pennsylvania, Texas and Illinois. Calumet Specialty Products Partners corporate office is located in Indianapolis, Indiana.
Connacher Oil and Gas Limited was represented by Norton Rose Canada LLP, with a team led by Jennifer Kennedy and included KayLynn Litton, Rashi Sengar, Brett Watson, Rick Borden, Darren Hueppelsheuser and Danielle Maksimow.
Calumet Specialty Products Partners, L.P. was represented by Latham & Watkins LLP, with a team including Michael Chambers, David Kurzweil and Jesse Myers.
Total cash proceeds received by Connacher Oil and Gas Limited, including the value of inventory and working capital, was approximately US$210 million.
Connacher Oil and Gas Limited is a Calgary-based exploration, development and production company active in the production and sale of bitumen.
Its principal asset is a 100 per cent interest in approximately 500 million barrels of proved and probable bitumen reserves located on the company's Great Divide oil sands leases near Fort McMurray, Alberta.
Calumet Specialty Products Partners, L.P. is a leading refiner and processor of specialty hydrocarbon products. Calumet operates six plants including operations in Northwest Louisiana, Pennsylvania, Texas and Illinois. Calumet Specialty Products Partners corporate office is located in Indianapolis, Indiana.
Connacher Oil and Gas Limited was represented by Norton Rose Canada LLP, with a team led by Jennifer Kennedy and included KayLynn Litton, Rashi Sengar, Brett Watson, Rick Borden, Darren Hueppelsheuser and Danielle Maksimow.
Calumet Specialty Products Partners, L.P. was represented by Latham & Watkins LLP, with a team including Michael Chambers, David Kurzweil and Jesse Myers.
Lawyer(s)
Firm(s)
Norton Rose Fulbright Canada LLP
Latham & Watkins LLP