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Burgess Energy Holdings LLC

Company Summary

Description

Burgess Energy Holdings, L.L.C. is a limited liability company based in United States.

Website

http://feeds.mwnewsroom.com/article/rss?id=2126615

Recent news

  • 4/29/2020 - Athabasca Upsizes... (subscriber access)
  • 2/27/2017 - Athabasca Oil Corp.... (subscriber access)

Company Transactions

Date: 4/28/2020
Type: Acquisition

BUYERS:
  • Burgess Energy Holdings LLC
    • SELLERS:
  • Athabasca Oil Corp
    • DETAILS:

    COST: 70 $MM

    NOTES:
    Athabasca Oil Corp. has upsized the prior Contingent Bitumen Royalty with Burgess Energy by $70 million in cash consideration. The deal closed April 28, 2020. The Royalty maintains the same structure as other deals and scales from 0-15% with a WCS benchmark. With prices below $60/bbl WCS the rate is 0% and the minimum 2.5% rate is triggered at $60/bbl WCS with a sliding scale to 15% at $100/bbl WCS.
    REGIONS:
  • Canada

    • Date: 2/24/2017
    Type: Acquisition

    BUYERS:
  • Burgess Energy Holdings LLC
    • SELLERS:
  • Athabasca Oil Corp
    • DETAILS:

    COST: 90 $MM

    NOTES:
    Athabasca Oil Corp. sold Bitumen royalty interest sale in the Leismer and Corner assets to Burgess Energy Holdings LLC. The deal closed on February 24, 2017.
    REGIONS:
  • Canada