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Crescent Point Energy completes $343 million Shaunavon consolidation acquisition


On June 1, 2012, Crescent Point Energy Corp. (TSX: CPG) closed an agreement with a senior oil and gas producer to acquire certain assets in the Shaunavon area of southwest Saskatchewan for cash consideration of $343 million. The assets acquired include production of approximately 2,500 boe/d, 98 percent oil weighted, from three operated legacy units and one non-operated unit in which the senior producer had a minor working interest. These assets are adjacent to and contiguous with Crescent Point's existing Shaunavon land base and solidify the company's dominant position in southwest Saskatchewan.

Gowlings acted as lead oil & gas counsel to Crescent Point in this transaction with a team that included Patrick Burgess and Sarah MacLeod.


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