Energy - Mergers and Acquisitions

Canada’s energy industry has undergone consolidation over the last several years and it’s unlikely that trend will change anytime soon. With growing demand for the transition to more energy efficient production and fluctuating demand for fuel, companies will continue to look to M&A in order to thrive.

Energy–related transactions are often complex as many regulations govern the sector, including ones related to the environment and Indigenous land use. There are also competition and antitrust issues to consider and cross-border challenges to navigate.

Osler’s Oil and Gas Group has decades of transactional experience in this sector. We work with businesses from across the spectrum, such as multinational exploration and production companies, infrastructure operations, private equity and pension funds, mid-market energy businesses and multi-party consortiums.

Recent experience

Husky Energy Inc.

Husky Energy Inc. in its $23.6 billion agreement with Cenovus Energy Inc. to create a new integrated energy leader. The combined company will be the third largest Canadian oil and natural gas producer and the second largest Canadian refiner and upgrader. The transaction was unanimously approved by both Cenovus and Husky’s Board of directors.

Learn more about our work with Husky Energy Inc.
Oil and gas refinery

KKR

Osler acted for KKR and AIMCo in their joint acquisition of a combined 65% equity interest from TC Energy in the $6.8 billion Coastal GasLink Pipeline Project. Upon completion, the project will have the ability to reduce global greenhouse gas emissions by up to 60-90 million tonnes per year.

Learn more about our work with KKR and AIMCo
Pipeline construction in hilly landscape

SemGroup Corporation

SemGroup in its $5 billion acquisition by Energy Transfer LP. Energy Transfer’s acquisition of SemGroup will increase its scale across multiple regions and provide increased connectivity for Energy Transfer’s crude oil and NGL transportation businesses. This acquisition also expands Energy Transfer’s crude oil and NGL infrastructure.

Learn more about our work with SemGroup Corporation
Red oil rig on the prairies

Veresen Inc.

Veresen Inc. in its $9.7 billion arrangement agreement with Pembina Pipeline Corporation. The combination created one of the largest energy infrastructure companies in Canada with a pro-forma enterprise value of approximately $33 billion.

Learn more about our work with Veresen Inc.
Metal worker in factory grinding metal of pipeline
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