One-Page Deal Sheet
Athabasca Sells Bitumen Royalties to Burgess Energy for $129MM
Burgess Energy Holdings LLC Athabasca Oil Corp
Announced Date
June 20,2016
Transaction Type
Mineral Rights
Enterprise Value (EV)($MM)
129
Asset/Basin:
{"Alberta Oil Sands","Western Canadian Sedimentary Basin"}
Location
Region
Canada
Country
Canada
Transaction Details: Subscribe to see
Athabasca Oil Corporation has granted a Contingent Bitumen Royalty to Burgess Energy Holdings L.L.C. on its Thermal assets for total consideration of $129 million.
Contingent Bitumen Royalty
The Royalty will be calculated on a sliding scale ranging from 0 - 6% of Athabasca's realized bitumen price (C$) for each Thermal Oil asset (see table below). The realized bitumen price is to be determined net of diluent, transportation and storage costs. The Royalty has been structured so that the assets will not be encumbered at lower pricing levels. For example, at Hangingstone, oil prices would have…
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