The deal has been closed for a cash consideration of C$680m ($685.8m), net C$200m ($201.7m) after closing adjustments and Athabasca’s repayment of two loans provided by Cretaceous.
Athabasca has retired all outstanding debt of its MacKay River interest as a result of the previously announced sale.
Athabasca retains a 40% interest in the Dover commercial oil sands project, development work on which is being carried out by Dover Operating, a company jointly owned by Athabasca (40%) and Cretaceous Oil Sands Holdings (60%).
