Neal Ross is Head of Osler’s Calgary Corporate Group and member of Osler’s National Private Equity Working Group. He is a trusted advisor in corporate and securities law, with a practice focused on mergers and acquisitions, private equity, corporate finance, and corporate governance.
With a client-centric approach, Neal delivers pragmatic, commercially driven solutions to navigate the complexities of strategic acquisitions, investments, buyouts, and successful exits for both public and private companies.
Neal has extensive cross-border experience advising U.S. and international acquirers and investors entering the Canadian market, drawing on his deep understanding of Canadian regulatory frameworks and market dynamics. He also supports Canadian businesses pursuing cross-border growth or accessing foreign capital markets, providing clear, strategic guidance to advance their global objectives.
His experience spans the full investment lifecycle. Neal advises on private equity financings, debt and equity offerings, public company compliance, and strategic recapitalizations. In the private equity space, he has significant experience with leveraged buyouts, growth capital investments, SPAC business combinations, and go-private transactions, acting for global private equity funds, pension investors, and financial sponsors, as well as sponsored companies, on acquisitions, equity investments, and partnership formations.
Neal has particular industry depth in energy, natural resources, and agribusiness, frequently advising on upstream oil and gas assets, midstream infrastructure, agricultural operations, and industrial projects. Prior to joining Osler, he served as in-house corporate counsel at Shell Canada during its tenure as a TSX-listed company, gaining first-hand experience in complex corporate governance and large-scale transactions. Earlier in his career, Neal clerked at the Court of Appeal for Saskatchewan.
Representative Work
- M3-Brigade Acquisition III Corp
M3-Brigade Acquisition III Corp. and Brigade Capital in the sale of its equity interests in Greenfire Resources to Waterous Energy
- Centerbridge Partners
Centerbridge Partners in its acquisition of Precinmac LP
- M3-Brigade Acquisition III Corp.
M3-Brigade Acquisition III Corp. in its US$950-million business combination with Greenfire Resources Inc.
- VAALCO Energy
VAALCO in its US$307 million business combination with TransGlobe
- KKR and AIMCo
KKR and AIMCo in the amendment of the partnership and related agreements in respect of their equity investment in the $11.2B Coastal GasLink Pipeline
- A significant equity sponsor of Black Swan Energy
A significant equity sponsor of Black Swan Energy in its $1.1 billion acquisition by Tourmaline
- 2223890 Alberta Ltd.
2223890 Alberta Ltd. in its $195-million go-private transaction with Rocky Mountain Dealerships Inc.
- Pipestone Energy Corp.
Pipestone Energy Corp. in its $70 million convertible preferred share financing with Riverstone
- KKR
Acting for KKR and AIMCo in their joint acquisition of a combined 65% equity interest from TC Energy in the $6.8B Coastal GasLink Pipeline Project
- Pipestone Oil Corp.
Pipestone Oil Corp. in its strategic merger with Blackbird Energy Inc. and $309.5 million in equity and debt financings to form Pipestone Energy Corp.
- Ensign Energy Services Inc.
Ensign Energy Services Inc. in its acquisition of Trinidad Drilling Ltd. for $947 million
- Panavision Inc.
Panavision Inc. in its acquisition by Saban Capital Acquisition Corp and combination with Sim to form Panavision Holdings
- Aspenleaf Energy Limited
Aspenleaf Energy Limited in its acquisition of NEP Canada ULC
- Greengate Power Corporation
Greengate Power Corporation in its $100 million strategic co-development partnership with Fengate Real Asset Investments
- Kineticor
Kineticor closed $125 million convertible debt and equity financing commitment from OPTrust and the acquisition of a partially constructed 690 MW cogeneration plant located near Peace River, Alberta from Shell Canada.
- Shell Canada Limited
Shell Canada Limited, in its sale of strategic assets to Tourmaline Oil Corp. for $1.369 billion
- Canada Pension Plan Investment Board
CPPIB in connection with the $975 million funding for an asset purchase by Teine Energy Ltd.
- Nordic Trustee ASA
Osler represents Nordic Trustee ASA for Sterling Resources Norwegian Bond Recapitalization
- Canada Pension Plan Investment Board
Canada Pension Plan Investment Board in its investment through a private placement of subscription receipts as a cornerstone investor of TORC Oil & Gas
- Pro Bono counsel to Glenbow-Alberta Institute for creation of Glenbow Western Research Centre at the University of Calgary – Link
- Procera Networks Inc. in its $562 million acquisition of TSX-listed Sandvine Corporation by way of plan of arrangement in Ontario
- The Carlyle Group with regard to Canadian aspects of its acquisition of Arctic Glacier Group Holdings, Inc. from H.I.G. Capital
- Canada Pension Plan Investment Board in the funding of its majority-owned portfolio company Teine Energy Ltd., which acquired $975 million of light oil and heavy oil assets in South Western Saskatchewan
- Canada Pension Plan Investment Board in its equity financing of Seven Generations Energy Ltd. and with regard to Seven Generation’s IPO
- Canada Pension Plan Investment Board in its equity financing of Black Swan Energy Ltd. with a syndicate of private equity funds
- Trilantic Capital Partners, on Canadian aspects of its investment in 24-7 In Touch
- Aspenleaf Energy Limited in its acquisition of Arcan Resources Ltd
- Aspenleaf Energy Limited in its equity line financing by Ontario Teacher’s Pension Plan Board and ARC Financial Corp
- Basin Tools L.P. in its take-private acquisition of Wenzel Downhole Tools Ltd. by way of plan of arrangement
- Counsel to the underwriters for Oryx Petroleum Corporation Limited’s $250 million initial public offering
- Shell Canada Limited in its $5.9 billion acquisition of Duvernay Oil Corp
- The Shareholders of National Process Equipment Inc. in the sale of the company to DXP Enterprises Inc
- Rockwater Energy Solutions, Inc. in its cross-border acquisition of Vencor Production Testing
- Eastern Petroleum Limited in its reverse takeover of TSX-listed Jura Energy Corporation
- Canadian Oil Sands Limited in its $1.45 billion cross-border private placements of senior notes
- Tuscany International Drilling Inc. in its acquisition of French drilling Company Caroil S.A.S. from Etablissments Maurel & Prom for approximately $200 million
- Enerflex Ltd. in its spin-out from Toromont Industries Ltd. as a new TSX-listed public company
- Glam Media Inc. in its cross-border acquisition of BBS Media
- Microsoft Corporation in its cross-border acquisition of Opalis Software Inc
- Microsoft Corporation in its cross-border acquisition of 90 Degree Software Inc
- Warburg Pincus in its $250 million backstop commitment and investment in MEG Energy Corp. and with regard to MEG’s IPO
- Dragon Capital in its cross-border acquisition of Keeper Resources Inc
- The Special Committee of Board of Trustees of Gienow Windows & Doors Income Fund in the sale of the operating businesses of Gienow Windows & Doors Income Fund to H.I.G. Capital
- Novozymes A/S in its cross-border acquisition of Philom Bios Inc
M3-Brigade Acquisition III Corp. and Brigade Capital in the sale of its equity interests in Greenfire Resources to Waterous Energy
Centerbridge Partners in its acquisition of Precinmac LP
M3-Brigade Acquisition III Corp. in its US$950-million business combination with Greenfire Resources Inc.
VAALCO in its US$307 million business combination with TransGlobe
KKR and AIMCo in the amendment of the partnership and related agreements in respect of their equity investment in the $11.2B Coastal GasLink Pipeline
- A significant equity sponsor of Black Swan Energy
A significant equity sponsor of Black Swan Energy in its $1.1 billion acquisition by Tourmaline
- 2223890 Alberta Ltd.
2223890 Alberta Ltd. in its $195-million go-private transaction with Rocky Mountain Dealerships Inc.
- Pipestone Energy Corp.
Pipestone Energy Corp. in its $70 million convertible preferred share financing with Riverstone
- KKR
Acting for KKR and AIMCo in their joint acquisition of a combined 65% equity interest from TC Energy in the $6.8B Coastal GasLink Pipeline Project
- Pipestone Oil Corp.
Pipestone Oil Corp. in its strategic merger with Blackbird Energy Inc. and $309.5 million in equity and debt financings to form Pipestone Energy Corp.
- Ensign Energy Services Inc.
Ensign Energy Services Inc. in its acquisition of Trinidad Drilling Ltd. for $947 million
- Panavision Inc.
Panavision Inc. in its acquisition by Saban Capital Acquisition Corp and combination with Sim to form Panavision Holdings
- Aspenleaf Energy Limited
Aspenleaf Energy Limited in its acquisition of NEP Canada ULC
- Greengate Power Corporation
Greengate Power Corporation in its $100 million strategic co-development partnership with Fengate Real Asset Investments
- Kineticor
Kineticor closed $125 million convertible debt and equity financing commitment from OPTrust and the acquisition of a partially constructed 690 MW cogeneration plant located near Peace River, Alberta from Shell Canada.
- Shell Canada Limited
Shell Canada Limited, in its sale of strategic assets to Tourmaline Oil Corp. for $1.369 billion
- Canada Pension Plan Investment Board
CPPIB in connection with the $975 million funding for an asset purchase by Teine Energy Ltd.
- Nordic Trustee ASA
Osler represents Nordic Trustee ASA for Sterling Resources Norwegian Bond Recapitalization
- Canada Pension Plan Investment Board
Canada Pension Plan Investment Board in its investment through a private placement of subscription receipts as a cornerstone investor of TORC Oil & Gas
- Pro Bono counsel to Glenbow-Alberta Institute for creation of Glenbow Western Research Centre at the University of Calgary – Link
- Procera Networks Inc. in its $562 million acquisition of TSX-listed Sandvine Corporation by way of plan of arrangement in Ontario
- The Carlyle Group with regard to Canadian aspects of its acquisition of Arctic Glacier Group Holdings, Inc. from H.I.G. Capital
- Canada Pension Plan Investment Board in the funding of its majority-owned portfolio company Teine Energy Ltd., which acquired $975 million of light oil and heavy oil assets in South Western Saskatchewan
- Canada Pension Plan Investment Board in its equity financing of Seven Generations Energy Ltd. and with regard to Seven Generation’s IPO
- Canada Pension Plan Investment Board in its equity financing of Black Swan Energy Ltd. with a syndicate of private equity funds
- Trilantic Capital Partners, on Canadian aspects of its investment in 24-7 In Touch
- Aspenleaf Energy Limited in its acquisition of Arcan Resources Ltd
- Aspenleaf Energy Limited in its equity line financing by Ontario Teacher’s Pension Plan Board and ARC Financial Corp
- Basin Tools L.P. in its take-private acquisition of Wenzel Downhole Tools Ltd. by way of plan of arrangement
- Counsel to the underwriters for Oryx Petroleum Corporation Limited’s $250 million initial public offering
- Shell Canada Limited in its $5.9 billion acquisition of Duvernay Oil Corp
- The Shareholders of National Process Equipment Inc. in the sale of the company to DXP Enterprises Inc
- Rockwater Energy Solutions, Inc. in its cross-border acquisition of Vencor Production Testing
- Eastern Petroleum Limited in its reverse takeover of TSX-listed Jura Energy Corporation
- Canadian Oil Sands Limited in its $1.45 billion cross-border private placements of senior notes
- Tuscany International Drilling Inc. in its acquisition of French drilling Company Caroil S.A.S. from Etablissments Maurel & Prom for approximately $200 million
- Enerflex Ltd. in its spin-out from Toromont Industries Ltd. as a new TSX-listed public company
- Glam Media Inc. in its cross-border acquisition of BBS Media
- Microsoft Corporation in its cross-border acquisition of Opalis Software Inc
- Microsoft Corporation in its cross-border acquisition of 90 Degree Software Inc
- Warburg Pincus in its $250 million backstop commitment and investment in MEG Energy Corp. and with regard to MEG’s IPO
- Dragon Capital in its cross-border acquisition of Keeper Resources Inc
- The Special Committee of Board of Trustees of Gienow Windows & Doors Income Fund in the sale of the operating businesses of Gienow Windows & Doors Income Fund to H.I.G. Capital
- Novozymes A/S in its cross-border acquisition of Philom Bios Inc
Latest Insights
-
Osler Update January 8, 2026
Equity line financing: a strategic tool for large-scale projects in Canada
The equity line structure is a governance-rich approach to equity financing that aligns funding needs with project milestones.
Read more
-
Osler Update November 20, 2025
PE Points Newsletter
Osler’s National Private Equity Group has launched its quarterly PE newsletter: your source of private equity news and information.
Read more -
Osler Update September 14, 2022
Federal government announces initial list of prescribed Prairie regions where livestock tax deferral has been authorized for 2022
The federal Income Tax Act (ITA) allows farmers compelled to sell part of their breeding herd due to drought, flood or excessive moisture conditions...
Read more -
Osler Update May 24, 2022
International Sustainability Standards Board releases draft sustainability and climate change disclosure proposals for public comment
The International Sustainability Standards Board has issued proposed global standards for sustainability- and climate-related disclosure for public...
Read more
Awards and Recognition
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Best Lawyers in Canada: Recognized in Corporate Law; Securities Law
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IFLR 1000: The Guide to the World’s Leading Financial Law Firms: Recognized in Banking; M&A; Private Equity (Noble Practitioner)
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The Canadian Legal Lexpert Directory: Recognized in Corporate Finance & Securities
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Lexpert Special Edition: Recognized in Energy
Media Mentions
-
Osler News September 25, 2023
22 Osler lawyers recognized in Lexpert Special Edition: Energy 2023
Osler is proud to announce that 22 of our lawyers are featured in the Lexpert Special Edition: Energy 2023, recognizing leading lawyers in the oil...
Read more
Speaking and Writing
Published Work
- “What’s Market: Public M&A Agreements in the Oil & Gas Industry”, for Practical Law Canada, February, 2018.
- “Negotiating in 2017 – An Evolving Legal Environment” Seminar, July 2017.
- “Foreign Corrupt Practices and Corporate Investigations” Seminar, March 21, 2013.
- “The Annotated Purchase and Sale Agreement – Essential Clauses for Asset, Stock, and Merger Deals,” Insight Conference: Negotiating and Drafting Major Business Agreements, January 25-26, 2011.
Credentials
Education
- University of Saskatchewan, Juris Doctorate (Law)
Languages
- English
Professional Affiliations
- Canadian Bar Association
- Calgary Bar Association
