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Paul, Weiss is an acknowledged leader among U.S. law firms representing Canadian public and private companies and their underwriters. With almost 50 years of history in Canada and an office in Toronto, our vibrant Canada practice is the largest among U.S. law firms and reflects our long-standing commitment to our clients in their Canadian–U.S. cross-border matters.

Cenovus Energy to Acquire ConocoPhillips’ Canadian Assets for $17.7 Billion

Paul, Weiss is representing Calgary-based Cenovus Energy Inc. in the U.S. aspects of its acquisition of ConocoPhillips’ 5 percent interest in the FCCL Partnership, the companies’ jointly owned oil sands venture operated by Cenovus. Cenovus is also purchasing the majority of ConocoPhillips’ Deep Basin conventional assets in Alberta and British Columbia. Total consideration for the purchase is $17.7 billion, including $14.1 billion in cash and 208 million Cenovus common shares. Paul, Weiss is also handling the U.S. securities law aspects of the financing. The transaction is expected to close in the second quarter of 2017, subject to customary conditions and the receipt of regulatory approvals.

The Paul, Weiss team included corporate partners Andrew Foley and counsel Marta Kelly and Stephen Centa; environmental counsel William O’Brien; and tax partner David Sicular.

March 29, 2017

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