Skip Navigation

Oil & Gas

Oil & Gas
Oil & Gas

Unprecedented challenges call for innovative solutions. Fluctuating commodity prices, rapidly changing regulatory regimes, supply corridor constraints and continuous improvement in technology create a global storm of energy sector volatility. 

The expert oil and gas lawyers at Blakes have the experience and depth of knowledge to navigate our clients through that storm. We act for a client base starting at the initial search for hydrocarbon resources to the final sale to consumers, including exploration and production companies, refining; supply and trading companies, transportation and marketing companies, industry financiers and other stakeholders. We have managed M&A transactions, competition and environmental hearings, regulatory applications, and ownership and operational issues for a wide range of national and international players in the energy industry.

Consolidation and expansion are continually recurring features of the oil and gas industry. Our premier Mergers & Acquisitions and Competition & Antitrust lawyers support our oil and gas and energy law expertise with unsurpassed proficiency in the financing, structuring and regulatory compliance details behind the deals that power growth in the energy sector industry. No other Canadian law firm can provide its clients with this combination of energy-finance strength.

Headquartered in our Calgary office but with practitioners across Canada and worldwide, our Oil & Gas group brings an extraordinary degree of global awareness to the strategic and tactical advice we provide our clients. We provide counsel that is fully informed by the potential and limitations of both conventional and unconventional sources and methods of energy access, today and in the future.

Recent Experience
  • Ovintiv Inc. in its US$4.3-billion acquisition of core Midland Basin assets through the acquisition of three portfolio companies from private equity firm EnCap Investments LP. ​

  • Pembina Pipeline Corporation in its offering of C$500-million of senior unsecured medium-term notes.

  • Cenovus Energy Inc. on its C$711-million acquisition of warrants from Hutchison Whampoa Europe Investments S.à r.l. and L.F. Investments S.à r.l.

  • Strathcona Resources Ltd. in its proposed all-share transaction to acquire Pipestone Energy Corp. creating a combined entity with an approximate C$11.5-billion enterprise value.

  • TC Energy Corporation in respect of its proposed separation into two independent, investment-grade, publicly listed companies through the spinoff of TC Energy’s Liquids Pipelines business with anticipated completion in the second half of 2024.

  • Suncor Energy on its C$1.468-billion acquisition of TotalEnergies EP Canada Ltd., which holds a 31.23% working interest in the Fort Hills oil sands mining project.

  • Ridgeback Resources Inc., a private equity portfolio company, on its proposed C$525-million sale to Saturn Oil & Gas Inc.

  • Pembina Pipeline Corporation on the C$662.5-million sale of its 50% stake in the Key Access Pipeline System (KAPS) to Stonepeak Partners.

  • Imperial Oil Resources Limited and ExxonMobil Canada Ltd. on the disposition of their interest in XTO Energy Canada to Whitecap Resources Inc. for C$1.9-billion.

  • The Special Committee of the Board of Directors of Hammerhead Resources Inc. on its C$1.39-billion business combination with Decarbonization Plus Acquisition Corporation IV, a U.S. SPAC, with the merged company to be listed on Nasdaq.

  • ​Simpson Oil Limited on the sale of 25% of SOL Investments SEZC for 20-million common shares of Parkland Fuel, valued at approximately C$700-million.

  • Pembina Pipeline Corporation on its C$11.4-billion joint venture with KKR & Co. Inc. to merge their western Canadian natural gas processing assets

  • Prairie Storm Resources Corp. on its C$50-million acquisition by InPlay Oil Corp.

  • ​Enerplus Corporation on its US$465-million acquisition of Bruin E&P HoldCo, LLC and related debt and equity financings.

  • Shell Canada Energy on the sale of its Duvernay shale light oil assets to Crescent Point Energy Corp. (CPEC ) for total consideration of C$900-million, including C$700-million in cash and 50-million shares in CPEC.

  • ​Waterous Energy Fund on its initial acquisition of a 45 per cent stake and subsequent US$94.8-million acquisition of an additional 40 per cent stake in Osum Oil Sands Corp.

  • I.G. Investment Management, Ltd., as trustee for IG Mackenzie Real Property Fund (formerly Investors Real Property Fund), on the sale of Trenant Park Square, a retail shopping centre located in Delta, B.C.

  • Strath Resources Ltd. and Cona Resources Ltd., portfolio companies of Waterous Energy Fund, on the amalgamation of both companies to form Strathcona Resources, Ltd.

  • Cenovus Energy Inc. on its public offering of US$1-billion in 5.375 per cent senior unsecured notes due 2025.

  • TC Energy Corp. on its sale of a 65 per cent equity stake in the Coastal GasLink Pipeline Project to KKR and AIMCo and the concurrent execution of a credit agreement providing non-recourse project-level financing to fund the majority of construction costs for the project.

  • Cona Resources Ltd., a portfolio company of Waterous Energy Fund, on its C$740-million acquisition of Pengrowth Energy Corporation.

  • Suncor Energy Inc., Imperial Oil Limited, Husky Oil Operations Limited, Cenovus Energy Inc. and Canadian Natural Resources Limited in a successful ruling at the Supreme Court of Canada against B.C. blocking the Trans Mountain expansion project.

  • Suncor Energy Inc. on its acquisition of an additional five per cent interest in the Syncrude joint venture from Mocal for C$920-million.

  • Suncor Energy Inc. on the sale of its Petro-Canada lubricants division to HollyFrontier Corporation for C$1.13-billion.

  • Suncor Energy Inc. on its agreement to acquire Murphy Oil Company’s interest in the Syncrude oil sands joint venture for approximately C$937-million.

  • Kinder Morgan Canada Inc. on its joint venture with Keyera Corp. to build Base Line Terminal, a crude oil storage terminal located in Keyera’s Alberta Enviro Fuels facility in Sherwood Park, Alberta. Together with associated arrangements including numerous long-term storage agreements, land use and access agreements, various interconnection agreements, and EPC agreements.

  • Kinder Morgan Canada Ltd. on its C$4.5-billion sale of the Trans Mountain Pipeline system and expansion project to the Government of Canada.

  • PetroLama Energy Canada Inc. in connection with its crude oil storage joint venture with Keyera Energy Inc. in Cushing, Oklahoma.

  • Cenovus Energy Inc. on the sale of its wholly owned subsidiary Heritage Royalty Limited Partnership to Ontario Teachers' Pension Plan for C$3.3-billion.

  • Methanex Corporation on its large-volume, long-term natural gas procurement and transportation management arrangements with Chesapeake Energy Corporation for its "G1" methanol production, storage and handling facilities at Geismar, Louisiana.

  • Methanex Corporation on its large-volume, long-term natural gas procurement and hedging program for its "G2" methanol production, storage and handling facilities at Geismar, Louisiana.

  • Strath Resources Ltd. on the acquisition of Montney assets from Paramount Resources Ltd. for total consideration of C$340-million, paid 50 per cent in cash and 50 per cent in common shares of Strath.

  • Imperial Oil on the sale of its retail gas stations for approximately C$2.8-billion.

  • TC Energy Corporation on the sale of an 85 per cent equity interest in Northern Courier Pipeline to AIMCo and, in conjunction with the sale, the financing of long-term, non-recourse debt, with approximate aggregate gross proceeds to TC Energy of C$1.15-billion.

  • Shell Canada Energy on the purchase by Petronas-owned North Montney LNG Limited Partnership of a 25 per cent stake in the LNG Canada project JV from Shell, PetroChina Kitimat LNG Partnership and Kogas Canada LNG Ltd.

  • Pembina Pipeline Corporation on its C$9.3-billion acquisition of Veresen Inc.

  • Cenovus Energy Inc. on the sale of its Palliser crude oil and natural gas assets in southeastern Alberta to Torxen Energy and Schlumberger for C$1.3-billion.

  • Cenovus Energy Inc. on the sale of its Suffield crude oil and natural gas assets in southern Alberta to International Petroleum Corporation for C$512-million.

  • Husky Energy on its C$1.7-billion sale of 65 per cent of certain midstream assets to Cheung Kong Infrastructure Holdings Limited and Power Assets Holding Limited.

  • Pembina Pipeline Corporation on its C$556-million acquisition of natural-gas processing assets from, and related gas-processing arrangement with, Paramount Resources.

  • Trican Well Service Ltd. on its disposition of its U.S. pressure pumping business to Keane Group for cash and share consideration of approximately US$400-million.

  • Jupiter Resources Inc. in connection with its C$2-billion acquisition of the Bighorn upstream assets from Encana Corporation.

  • Encana Corporation and PrairieSky Royalty Ltd. in connection with the transfer of fee simple oil and gas and related assets by Encana to PrairieSky and subsequent C$1.67-billion initial public offering of PrairieSky by Encana.

  • TransCanada Corporation on the establishment of its partnership with Phoenix Energy Holdings Limited for the construction and operation of the C$3-billion Grand Rapids Pipeline System.

  • LNG project developments on Canada's west and east coasts.