On August 1, 2023, Strathcona Resources Ltd. (Strathcona) and Pipestone Energy Corp. (Pipestone) entered into an agreement pursuant to which Strathcona has agreed to purchase all issued and outstanding shares of Pipestone by way of plan of arrangement involving an amalgamation of Strathcona and Pipestone to create an approximately $8.6 billion public company under the name "Strathcona Resources Ltd." The transaction is subject to certain conditions, including receipt of approval of Pipestone shareholders and the Court of King's Bench of Alberta. The transaction is expected to close on or about October 3, 2023.
Blake, Cassels & Graydon LLP represented Strathcona Resources Ltd. with a team led by Kevin Kerr (Corporate/M&A) and Olga Kary (M&A/Capital Markets), and including Chad Schneider, Kristopher Simard, Bharbara Parken, Sean Cahill, Matthew Santillo and Cole Ollis (M&A/Capital Markets), Ashton Menuz, Erik Fleming, Austin Beck, and Karen Rooney (Corporate/M&A), Carrie Aiken and Ahmed Elsaghir (Tax), Kevin MacDonald and Joshua Hollenberg (Competition), Sean Maxwell (Pension, Benefits & Executive Compensation), Birch Miller and Lindsey Knibbs (Employment & Labour), Katie Slipp, Duff Harper and Scott Birse (Environmental), Renee Reichelt and Randall Trombley (Litigation and Dispute Resolution), and Drew Campbell, Allan Morgan, Aaron Zambonin and Michelle Klassen (Financial Services).
McCarthy Tetrault LLP represented Pipestone Energy Corp. with a team led by Alyson Goldman and Michael Bennett (Corporate/M&A) and including Maria Rooney, Ashley Wilson, Connor O'Brien, Karsten Carriere (Corporate/M&A), Matthew Kraemer, Michael Hegedus, Darren Chung (Tax), Kerri Howard, Jamie Gibb (Oil & Gas), Kim Howard (Environmental/Regulatory), Kate McNeece (Competition/Antitrust), Shane D'Souza, Lyndsey Delamont, Emily Ward (Litigation), Ben Aberant and Chris Boettcher (Labour & Employment).
