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.

Client

Pipestone Oil Corp.

Value

$310 million

Service

Mergers and Acquisitions

Date Closed

January 2019

Industry

Energy (Oil & Gas)

Lead Office

Calgary

On January 4, 2019 Blackbird Energy Inc. and Pipestone Oil Corp. announced the completion of their previously announced strategic merger. Concurrent with the transaction, Blackbird and Pipestone Oil have closed equity financings totaling $111.0 million with certain existing shareholders and Pipestone Oil has arranged $198.5 million of debt financing. The closing of these transactions results in a strategic combination of two adjacent Pipestone Montney land bases under a single company that will operate under the name Pipestone Energy Corp.

Pipestone Oil Corp. was a wholly-owned subsidiary of Canadian Non-Operated Resources L.P., a Calgary based oil and gas investment fund.

Blackbird Energy Inc., headquartered in Calgary, is an energy company that engages in the exploration, development, and production of oil and natural gas in Western Canada.

Osler, Hoskin & Harcourt LLP represented Pipestone Oil with a team consisting Robert Lehodey, Neal Ross and Jacob Young (Corporate); Colena Der and Corinne Grigoriu (Tax); Shaun Parker (Employment); Shuli Rodal and Jaime Auron (Competition).