Saturn Oil & Gas Inc. (TSX:SOIL) agreed to acquire Non-core properties in Saskatchewan from Crescent Point Energy Corp. (TSX:CPG) for approximately CAD 600 million on May 6, 2024. Net proceeds from these non-core dispositions have, or will be, directed to debt repayment.

In connection with the Acquisition, Saturn has secured approximately CAD 850 million (US$625 million) Debt Commitment, which will replace the outstanding Existing Senior Secured Term Loan allowing the Company to optimize its capital structure and cost of capital. The Transaction is anticipated to close in late second quarter 2024, subject to the satisfaction of customary closing conditions. Scotiabank is acting as financial advisor and National Bank Financial Inc. is acting as strategic advisor to Crescent Point for the sale of its Flat Lakeasset in southeast Saskatchewan.

TD Securities Inc. and TPH&Co., the energy business of Perella Weinberg Partners, are acting as financial advisors to Crescent Point for the sale of its Battrum asset in southwest Saskatchewan. Echelon Capital Markets is acting as financial advisor to Saturn on the Acquisition. Goldman Sachs is acting as strategic advisor to Saturn on the Acquisition and has provided the Debt Commitment (subject to customary conditions); and National Bank Financial Markets is acting as Lead Arranger and sole Bookrunner on the Company's new RBL.

Dentons Canada LLP is acting as Canadian legal counsel and Baker Botts LLP is acting as US legal counsel to Saturn with respect to the Acquisition, the Offering, and the Debt Commitment. DLA Piper, LLP is acting as legal advisor to the Underwriters. Latham Watkins LLP and Torys LLP are acting as US and Canadian counsel to Goldman Sachs, respectively.