Kirkland Guides Petroflow's $230M Ex-Drilling Partner Buy

Law360, New York (December 9, 2013, 3:52 PM EST) -- Petroflow Energy Corp., whose predecessor firm went bankrupt in 2010 amid a dispute over an Oklahoma gas drilling project with Equal Energy Ltd., will buy its former business partner for approximately $230 million, Equal said Monday.

Oklahoma-based Petroflow, whose predecessor firm North American Petroleum Corp. emerged from Chapter 11 reorganization in September 2011, has agreed to purchase all of the issued and outstanding common shares of Equal at a price of $5.43 per share on a fully-diluted basis. The price represents a 56 percent premium over...
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