Essential Energy Services Trust and Builders Energy Services Trust Merger

On April 4, 2008 Essential Energy Services Trust (“Essential”) and Builders Energy Services Trust (“Builders”), both energy service trusts providing a range of essential production services to oil and gas producers across western Canada, completed a strategic combination. The combination was completed pursuant to a Plan of Arrangement, with the combined trust having an approximated enterprise value of $300 million and continuing under the name Essential Energy Services Trust. The combined entity is led by a strong management team and includes members from both Essential and Builders.

Pursuant to the transaction, the previous unitholders of Builders were entitled to receive, for each outstanding trust unit of Builders held by them, 1.25 trust units of Essential. After giving effect to the transaction, there were approximately 60 million Essential Units outstanding.
Essential was represented by Burnet, Duckworth & Palmer LLP with a team that included Michael Sandrelli, Scott Kearl and Jacob Hoeppner (securities), David Ross (tax) Jody Wivcharuk (competition) and Gina Ross (employment).

Builders was represented by its in-house General Counsel Rob Van Walleghem, and by Heenan Blaikie LLP with a team that included Lloyd Symons, Mark Franko, Peter Yates, Cherry Jiang (securities), Brian Bidyk, James Maclean (energy), Jillian Frank (employment), Subrata Bhattacharjee (regulatory), Mark Jadd (tax), Edward Wooldridge and Adrienne O'Reilly (banking).