Shell Canada Energy Ltd. sale of Duvernay shale light oil position to Crescent Point Energy Corp.

On Apr. 1, 2021, Royal Dutch Shell plc, through its affiliate Shell Canada Energy Ltd. (Shell), sold its Duvernay shale light oil position in Alberta to publicly listed Canadian energy company Crescent Point Energy Corp. (CPEC) for a total consideration of $900-million. The consideration comprised $700-million in cash and 50 million shares in CPEC common stock.

The transaction includes the transfer of approximately 450,000 net acres in the Fox Creek (Kaybob) and Rocky Mountain House (Willesden Green) areas, along with related infrastructure, currently producing around 30,000 barrels of oil equivalent per day from more than 270 wells.

Shell was represented in-house by senior legal counsel
Carolyn Milne,
Stacey Hiew,
Stephanie Beauvais.


Blake, Cassels and Graydon LLP supported Shell’s in-house legal team with a team led by
Chris Harris (energy/corporate),
and which included
Ross Bentley,
Courtney Bohn (securities/M&A),
Terri-Lee Oleniuk,
Matt Hammer (energy/regulatory),
Julie Soloway (competition).

CPEC was represented in-house by
Mark Eade, senior vice president, general counsel and corporate secretary,
Peter Allegretto, associate general counsel,
Kirsten Seagrave Millung, legal counsel.

Norton Rose Fulbright Canada LLP supported CPEC’s in-house legal representation with a team led by
Wayne Fedun (energy/corporate),
and which included
Jillian Bollinger (energy/corporate),
Justin Ferrara,
Jennifer McPherson (securities).