NEP Canada Corp., a wholly owned subsidiary of Newton Energy Partners LLC of Houston and a portfolio company of Kayne Anderson Funds, indirectly sold all of the outstanding shares in NEP Canada ULC, its Canadian exploration and production operating subsidiary, to Aspenleaf Energy Ltd., a private oil and gas company focused on the acquisition and exploitation of light oil and liquids-rich gas assets in Western Canada.
The transaction consisted of cash and common shares of Aspenleaf. Aspenleaf is backed by ARC Financial Corp, a Canadian energy-focused private equity manager, and Ontario Teachers’ Pension Plan. The closing was announced on July 31, 2018.
Bennett Jones LLP advised NEP Canada on all aspects of the transaction, which was led by Vivek Warrier and consisted of a team including Beth Riley, Darcy Moch, Harinder Basra, Jeremy Russell, John Batzel, Karen Dawson, Michael Mysak, Andrew Kemp, Helen Cox, Jared Mackey and Kevin Myson.