16 LEXPERT
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2018
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WWW.LEXPERT.CA
Desbarats, QC, Robert P. Osler, Hoskin
& Harcourt LLP (403) 260-7015 rdesbarats@osler.com
Mr. Desbarats is a corporate and commercial lawyer whose practice primar-
ily involves commercial transactions relating to all aspects of the Canadian
and international upstream and midstream oil & gas, oilsands and liquefied
natural gas businesses, including acquisitions and divestitures,
joint ventures, power, upstream and midstream oilfield activities
and marketing arrangements.
Dépelteau, Jean-Pierre Dentons Canada LLP
(514) 878-8814 j-p.depelteau@dentons.com
Mr. Dépelteau is a member of the Construction and Infrastructure groups
offering more than 40 years of experience. He provides legal and strategic
advice to a variety of public, semi-public and private sector owners, as well
as construction contractors, specialized construction companies and equip-
ment suppliers.
Denstedt, QC, Shawn H.T. Osler, Hoskin & Harcourt LLP
(403) 260-7088 sdenstedt@osler.com
Mr. Denstedt is the Vice Chair Western Canada of Osler LLP and practises
environmental, regulatory and Aboriginal law in the energy, mining and
natural resources areas. He has led and leads many of Canada's biggest
and most complex resource projects. He appears regularly before provincial
and federal tribunals.
DeMarco, Lisa (Elisabeth) DeMarco Allan LLP
(647) 991-1190 lisa@demarcoallan.com
Ms. DeMarco is a world leading energy and climate change lawyer. She rep-
resents governments, banks, multinational energy companies and industry
associations on regulatory, policy, storage, renewables, pipeline, First Na-
tions and related matters. She regularly appears before regulators including
the National Energy Board and Ontario Energy Board and has addressed
the UNFCCC plenary.
Davies, QC, Donald G. Norton Rose Fulbright
Canada LLP (403) 267-8183 don.davies@nortonrosefulbright.com
Mr. Davies practises energy law, with a focus on the regulatory and litigation
fields. He has acted for both proponents and intervenors in many applica-
tions for the approval of pipeline facilities and for the determination of
pipeline tolls and tariffs. His cases typically involve complex environmental,
Aboriginal, constitutional, jurisdictional, economic and financial issues.
David, Guy Gowling WLG
(613) 786-0247 guy.david@gowlingwlg.com
Mr. David practises in the areas of corporate finance and securities, project
finance, aircraft finance, banking and international law. He has acquired
extensive experience in renewable energy financing (hydro, wind and solar).
He has considerable experience in public and exempt debt capital market
transactions, infrastructure, PPP and privatization-related financings.
LEXPERT-RANKED LAWYERS
of lenders raised Delphi Energ y Corp.'s senior
secured credit facility to $105 million from
$95 million.
"is is hopefully indicative of a new trend,"
says Quesnel of Burnet Duckworth, but despite
the various measures being taken, "I don't antici-
pate we'll see growth for a very many years."
It's much the same story for natural gas produc-
ers, says Michael ackray of McMillan, adding
low prices have kept companies depressed for even
longer than oil producers. "With the benchmark
price so low, you'd be hard-pressed to produce it
and make any money, so you're not drilling for
gas unless it's really liquids-rich, in which case you
might break even or make a profit. Drilling for oil
in Alberta 200 years ago we considered gas a bit of
a nuisance. We've come full circle."
He says the near-term prospects for liquified
natural gas, or LNG — natural gas that is turned
into a liquid to make it easier to store and trans-
port — are not much better. He says there are
more than 20 wholly approved projects for the
construction of LNG terminals in BC and while
"occasionally we hear rumours of one or more put-
ting shovel to the ground," so far, no go.
He called the decision by Malaysian state-
owned energy company Petronas to take a 25 per
cent stake in the potential LNG Canada project in
Kitimat, BC, "a bit of encouraging news. Maybe
that one's thinking of going ahead. But the big
challenge with LNG is who needs it, who wants it
and who's going to buy it?
"To the best of my knowledge, there's no pur-
chaser ready, willing and able. Without more buy-
ers somewhere, I'd be surprised if they actually
build the facility anytime soon."
Everything right now points to another fairly
subdued year in Canada's oil patch. But a sus-
tained uptick in prices, or getting Canadian prod-
uct directly to the Pacific for new customers, could
change the outlook fairly quickly.
'The industry was very
good when prices fell
as steeply as they did
at reducing its cost
structure. It has turned
out to be far more
scaleable and resilient
around price volatility
than people gave it credit
for, and most producers
were able to adapt to a
new price environment by
focusing on their costs.'
- PAT MAGUIRE,
BENNETT JONES LLP
