Northern Blizzard Resources Inc.

Northern Blizzard Resources Inc. in Waterous Energy Fund’s acquisition of 67 per cent of its common shares


Northern Blizzard Resources Inc.


$244 million


Mergers and Acquisitions

Date Closed


Energy (Oil & Gas)

Lead Office


On May 11, 2017, companies controlled by Waterous Energy Fund (“WEF”) acquired approximately 67 per cent of the issued and outstanding common shares of Northern Blizzard Resources Inc. (“Northern Blizzard”) from affiliates of Riverstone Holdings, LLC and NGP Energy Capital Management, LLC in a transaction valued at approximately $244 million.

Northern Blizzard is a Canadian crude oil production and development company headquartered in Calgary and focused on maximizing oil recovery from its large-scale oil resource base. The corporation’s operations, infrastructure and concentrated land positions are focused in southwest Saskatchewan. Northern Blizzard’s common shares are listed for trading on the Toronto Stock Exchange under the symbol “NBZ.”

Osler, Hoskin & Harcourt LLP represented Northern Blizzard with a team that included Noralee Bradley, Justin Sherman and Kelsey Armstrong (Corporate) and Peter Glossop (Competition).

Justin Sherman

Justin Sherman

Associate, Corporate

Kelsey  Armstrong

Kelsey Armstrong

Associate, Corporate

Peter Glossop - Foreign Investment Lawyer

Peter Glossop

Partner, Competition/Antitrust & Foreign Investment