On April 5, 2021, Whitecap Resources Inc. entered into an arrangement agreement to indirectly acquire Kicking Horse Oil & Gas Ltd., a privately held indirect subsidiary of Quantum Energy Partners, for aggregate consideration of $300 million, consisting of 34.5 million Whitecap common shares, $56 million in cash and the assumption of net debt estimated at $54 million as of February 28, 2021. The acquisition is expected to close on or before May 31, 2021.
Kicking Horse’s assets primarily consist of a condensate rich Alberta Montney development at Kakwa.
Cassels is acting for Quantum as tax counsel.