Recent Experience
OPTrust, in connection with the formation and limited recourse financing of a partnership with six Alberta First Nations which in turn participated in the equity syndication and project financing of the $1.5-billion Cascade Power Project to be developed near Edson, Alberta and operated by Calgary based developer Kineticor. This equity investment marks the first transaction supported by the Alberta Indigenous Opportunities Corporation (AIOC), who provided a loan guarantee supporting the credit and financing arrangements between ATB, OPTrust, Kineticor and the First Nations consortium which ultimately facilitated the equity participation by Indigenous communities in the Cascade project.
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.
Cenovus Energy Inc., in its $17.7-billion acquisition of ConocoPhillips’ Deep Basin conventional assets in Alberta and British Columbia and 50% interest in the FCCL Partnership.
Cranes, Inc., operating as NCSG Crane & Heavy Haul Corporation, with its joint ventures with various Indigenous groups in British Columbia, Alberta, Saskatchewan, Manitoba and the Northwest Territories providing crane, lifting and heavy haul services in support of major industrial and commercial projects.
Statoil ASA, in the sale of its Alberta oilsands assets to Athabasca Oil Corporation for the consideration of $435 million cash, 100 million common shares and contingent value payments triggered at oil prices above US$65/bbl WTI.
Devon Energy Corp., in the sale of its 50-percent ownership interest in Access Pipeline to Wolf Midstream Inc., a portfolio company of Canada Pension Plan Investment Board, for $1.4 billion.
A private company, in joint ventures with Indigenous-owned companies in Alberta and Saskatchewan.
ATCO, in joint ventures with Indigenous-owned companies in British Columbia and Alberta.
A private Calgary-based E&P company in the acquisition of helium assets located in Alberta.
EOG Resources, Inc., one of the largest independent North American oil and natural gas exploration and production companies, in a divestment of all of its assets in Manitoba and certain assets in Alberta through two separate transactions for approximately US$410 million.
ATCO Energy Solutions Ltd., in its joint venture development with Petrogas Energy Corp. for the Strathcona Storage Facility, a liquids storage cavern business, near Fort Saskatchewan, Alberta, including associated long-term propane, butane and ethylene storage services agreements, interconnection pipelines and associated transportation rights, product loading and transfer services.
Statoil Canada Ltd., in acquisition by PTTEP Canada Limited of the remaining 60% ownership interest in the Thornbury, Hangingstone and South Leismer oil sands areas in exchange for Statoil's 40% stake in the Leismer and Corner projects and approximately US$200 million in cash.
Gibson Energy Inc., in all aspects of its joint venture with U.S. Development Group LLC to develop a new unit train rail loading facility with an initial capacity of 140,000 bbls per day with pipeline connectivity from Gibson's Hardisty Terminal, including the negotiation of agreements with anchor customers.
Gibson Energy Inc., in connection with various connection, storage and terminalling services agreements in respect of Gibson's Hardisty Terminal.
NCSG Crane & Heavy Haul Services Corporation, and the shareholders thereof, in the sale of a majority stake in NCSG to an investor syndicate led by TriWest Capital Partners IV, L.P. and Alberta Teachers Retirement Fund Board.
ATCO Structures & Logistics, in the successful proposal for the design, construction and operation of the Site "C" Workers Accommodation Project.
ATCO Structures & Logistics, in the negotiation of joint venture and camp accommodation agreements with project proponents and aboriginal groups in Alberta and British Columbia.
Spectra Energy Transmission, in the engineering, procurement and construction of its Dawson processing Plant (200MMcf/day; Montney natural gas), Fort Nelson North (250MMcf/day; Horn River Shale) and T-North Expansion projects.
Bennett Jones
