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Mark S. Powell

Partner

Partner | Email

T: 403.298.3365

Email

Calgary

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Powell Mark
 
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T: 403.298.3365


Email

Calgary

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Mark Powell is the head of our Trading & Derivatives practice. Mark has a broad range of experience in the trading and derivatives, assisting clients with the many complexities of this growing industry. This experience extends beyond commodity, interest rate and currency trading to include the trading of equities, emissions allowances, renewable energy certificates and other products.

Mark assists funds, producers, governmental entities and other "buy-side" entities with respect to ISDA master agreements and related documentation every day. Not only does he have extensive experience in negotiating ISDA master agreements, the New York form of credit support annex and the United Kingdom form of credit support annex, he also has negotiated numerous ISDA master equity confirmation agreements.

Beyond ISDA documentation, Mark's practice encompasses providing advice and negotiating other financial trading documentation (long form confirmations, GTCs, etc.) and physical wholesale and retail trading documentation (such as power purchase arrangements, virtual power purchase arrangements, contracts for differences, electricity supply and related services agreements, GasEDIs, NAESBs, renewable biogas agreements, condensate supply agreements, etc.).

In addition, Mark has assisted a number of clients in the acquisition and incorporation of Trading & Derivatives businesses and he is regularly retained to spearhead his clients' post-reorganization efforts to update, modify and/or replace the clients' trading agreements. Some examples include the Cenovus combination with Husky, the Ovintiv Inc. migration to the United States and Parkland's acquisition of Elbow River Marketing.

Mark also provides regulatory advice to clients in connection with Canada's G20 commitment to regulate derivatives. Mark is the Chair of the Canadian Derivatives Regulatory Group of the International Energy Credit Association (IECA) and, since May of 2019, has served as a member of the Alberta Securities Commissions' Derivatives Advisory Committee.

Mark is particularly qualified to provide derivatives regulatory advice as, prior to focusing his practice on Trading & Derivatives, Mark gained invaluable securities law experience as (amongst other files and clients) issuer's lead counsel with respect to the issuance of billions of dollars of public and private equity and debt securities. These files have included a project that was awarded Project Finance's "America's Oil and Gas Deal of the Year" and an initial public offering that, at the time, qualified as the largest Canadian exploration and production IPO for the previous ten years.

Mark has a long history of community involvement and currently serves of the board of directors of Special Olympics Alberta.

Education

University of British Columbia, BComm, 1991 University of Alberta, LLB, 1996 

Bar Admissions

Alberta, 1997

Recent Experience

Cenovus Energy Inc., in its $23.6-billion combination with Husky Energy Inc. and its post-combination amendment or replacement of all ISDA agreements.
Ovintiv Inc., in its amendment or replacement of all ISDA agreements relating to its migration from Canada to the United States.
Canadian Utilities Limited, an ATCO company, in the sale of its entire Canadian fossil fuel-based electricity generation portfolio for approximately $835 million, which was completed in three stages, through the sale of its interest in the Cory project in Saskatchewan to SaskPower International Inc., a sale of its interest in the Brighton Beach project in Ontario to Ontario Power Generation Inc., and a sale of the balance of the applicable generation assets through a sale of its equity interest in ATCO Power Canada Ltd. to Heartland Generation Ltd., an affiliate of Energy Capital Partners.
Parkland Fuel Corporation, in its $300-million note offering.

Recent Recognition

Best Lawyers in Canada
Recognized for Derivatives Law
The Legal 500 Canada
Recommended, Capital Markets
The Canadian Legal Lexpert Directory
Repeatedly Recommended, Corporate Commercial Law
Lexpert Report on Business Special Edition - Canada's Leading Energy Lawyers
Recognized as a leading energy lawyer in Canada

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September 27, 2022
       

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