Pipestone Oil Corp.’s $527 Million Merger with Blackbird Energy Inc.

Kirkland advised Canadian Non-Operated Resources L.P. (CNOR), a Calgary-based oil and gas investment fund managed by Grafton Asset Management Inc., on the approximate C$700 million strategic merger of its wholly-owned subsidiary, Pipestone Oil Corp., with Blackbird Energy Inc. (TSX-V: BBI) and the related C$310 million equity and debt capital raises. The newly combined entity, Pipestone Energy Corp (TSX-V: PIPE), is a recapitalized Montney-focused E&P company.

The deal was announced in November 2018 and closed on Jan. 4, 2019.

Kirkland advised with a team including Kevin Crews (Picture), Benjamin Adelson and associate Alex Poor; and tax partner Lane Morgan.

Involved fees earner: Benjamin Adelson – Kirkland & Ellis; Kevin Crews – Kirkland & Ellis; Lane Morgan – Kirkland & Ellis; Alex Poor – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Canadian Non-Operated Resources L.P.;

Author: Ambrogio Visconti