On August 13,2001, Andarko Petroleum Corporation, (“Anadarko” ) one of the largest independent oil and gas exploration and production companies in the world, completed its acquisition of Gulfstream Resources Canada Limited, (“Gulfstream”) a Canadian-based international oil and gas exploration and production company with assets in Qatar and Oman.
The acquisition was made by an indirect wholly owned subsidiary of Anadarko pursuant to a take-over bid on July 6, 2001. In excess of 90% of the outstanding Gulfstream shares were tendered under the bid at a price of $2.65 per share. The balance of the outstanding Gulfstream shares were acquired pursuant to the compulsory acquisition provisions of the Business Corporations Act. The total value of the acquisition was approximately $208 million.
Donahue Ernst & Young LLP, Calgary, (“Donahue”) and Bennett Jones LLP, Calgary, representing Anadarko and Gulfstream respectively. Donahue, represented by a team comprising of Alan Jochelson, Richard H. Peters, Richard F. McHardy, Rick W. Pawluk and Jeffrey Kahane, worked with Charlene Ripley (Vice President, General Counsel and Secretary) and Andrea Serjak (Senior Legal Counsel) from Anadarko’s in-house legal department to complete the acquisition. Donahue’s international energy group comprising Ronald Panchuk and Todd McRae managed the legal due diligence and operational issues relating to Gulfstream’s assets. The team of John s. Burns Q.C., Nicholas P. Fader, john D. MacNeil, W. Chipman Johnston, Michael S. Boehm and Karen Durrell (M&A), Josef W. Hocher (Energy) of Bennet Jones LLP, Calgary, acted for Gulfstream in connection with the transaction.
The acquisition was made by an indirect wholly owned subsidiary of Anadarko pursuant to a take-over bid on July 6, 2001. In excess of 90% of the outstanding Gulfstream shares were tendered under the bid at a price of $2.65 per share. The balance of the outstanding Gulfstream shares were acquired pursuant to the compulsory acquisition provisions of the Business Corporations Act. The total value of the acquisition was approximately $208 million.
Donahue Ernst & Young LLP, Calgary, (“Donahue”) and Bennett Jones LLP, Calgary, representing Anadarko and Gulfstream respectively. Donahue, represented by a team comprising of Alan Jochelson, Richard H. Peters, Richard F. McHardy, Rick W. Pawluk and Jeffrey Kahane, worked with Charlene Ripley (Vice President, General Counsel and Secretary) and Andrea Serjak (Senior Legal Counsel) from Anadarko’s in-house legal department to complete the acquisition. Donahue’s international energy group comprising Ronald Panchuk and Todd McRae managed the legal due diligence and operational issues relating to Gulfstream’s assets. The team of John s. Burns Q.C., Nicholas P. Fader, john D. MacNeil, W. Chipman Johnston, Michael S. Boehm and Karen Durrell (M&A), Josef W. Hocher (Energy) of Bennet Jones LLP, Calgary, acted for Gulfstream in connection with the transaction.
