American Eagle Energy

On November 23, 2015, American Eagle Energy Corporation (“AMZG” or the “Company”) closed on its sale to Resource Energy Can-Am LLC, an affiliate of Apollo Global Management LLC, pursuant to §363 of the US Bankruptcy Code.  This transaction represents the first successful bankruptcy sale of an E&P company entirely to a third-party purchaser in 2015 among the 39 North American E&P companies that had filed for bankruptcy during that calendar year.

Canaccord Genuity was initially hired by AMZG on February 20, 2015 to explore capital raising alternatives.  On April 10, 2015, the scope of Canaccord Genuity’s engagement was expanded to include a sale of substantially all of the Company’s assets.  On May 8, 2015, AMZG filed for bankruptcy protection under Chapter 11 in the US Bankruptcy Court for the District of Colorado.  On October 22, 2015, after receiving several bids, the Court approved the sale of substantially all of AMZG’s assets to Resource Energy Can-Am LLC. 

AMZG engages in the acquisition, exploration, development and production of oil and gas properties located within the Bakken and Three Forks formations in western North Dakota and eastern Montana. At the time of its bankruptcy filing, AMZG's liabilities exceeded US$215 million.

This represents Canaccord Genuity’s ninth restructuring-related transaction by the US Debt Finance & Restructuring Group since its formation in 2014.