WWW.LEXPERT.CA
|
2016
|
LEXPERT 7
Booth, QC, Robert (Bob) T. Bennett Jones LLP
(403) 298-3252 boothb@bennettjones.com
Mr. Booth has a broad commercial practice in energy and resources.
He represents clients in the oil and gas, pipeline, LNG, uranium and
electricity sectors. He advises on purchases, sales, new businesses,
joint ventures and partnerships.
Block, QC, Randall W. Borden Ladner Gervais LLP
(403) 232-9572 rblock@blg.com
Mr. Block, QC, specializes in all forms of dispute resolution in the energy/oil
& gas industries, including regulatory proceedings, litigation and arbitration.
He has appeared before the Alberta Court of Queen's Bench, Alberta Court
of Appeal, Supreme Court of Canada, Alberta Utilities Commission, Alberta
Energy Regulator, National Energy Board and various arbitral panels. He is
an ACTL Fellow.
Bigué, AdE, Ann Dentons Canada LLP
(514) 878-8808 ann.bigue@dentons.com
A former National Energy Board Counsel, Ms. Bigué's administrative,
constitutional and regulatory law practice includes an emphasis on energy
and natural resources law and environmental assessment. She also provides
advice on Aboriginal and treaty rights to corporate clients in this context.
Bertoldi, Linda L. Borden Ladner Gervais LLP
(416) 367-6647 lbertoldi@blg.com
Ms. Bertoldi is a senior partner and the national leader of BLG's Electricity
Markets Group. She has extensive power sector experience in project
structure and development, project finance, mergers & acquisitions and with
natural gas, cogeneration, district energy, distributed generation, wind, solar,
hydro, biomass, landfill gas and other renewable technologies.
Bergner, Keith B. Lawson Lundell LLP
(604) 631-9119 kbergner@lawsonlundell.com
Mr. Bergner advises private- and public-sector clients on Aboriginal law
and energy/regulatory matters. He has appeared as counsel before all levels
of courts, including the Supreme Court of Canada. He acts for clients
in various industries including oil & gas, liquefied natural gas, mining
and hydro-electric generation and transmission. He is head of the firm's
Aboriginal Law practice group.
Bennett, Chris Osler, Hoskin & Harcourt LLP
(416) 862-5992 cbennett@osler.com
Mr. Bennett's practice focuses on project finance with an emphasis on
energy, infrastructure and PPPs. He has acted on project financings in a wide
variety of sectors, including renewable energy, healthcare and transportation.
insolvent oil or gas company, it can legally avoid and
renounce liability and costs of well abandonment, re-
mediation and reclamation. at means clean-up for
such abandoned wells would now fall on the industry-
funded Orphan Well Association. (e AER's and Or-
phan Well Association's appeal of the Redwater decision
is expected to be heard in October.)
In response the AER hiked what is known as the
liability-management ratio (LMR) from 1.0 to a min-
imum of 2.0. e LMR is a deemed asset-to-liability
ratio meant to ensure a company has the financial abil-
ity to properly deal with the proper clean-up of any wells
it owns or acquires from another company, should eco-
nomic or other factors force it to shut down those wells.
Purchasers that fail to meet the threshold are prohibited
from buying AER-licensed wells. As of the AER's last re-
port in April, 311 licensees had LMRs below 2.0 versus
219 that had an LMR of 2.0 or more.
e new LMR requirement, says Kelly Bourassa, a
partner and head of the restructuring and insolvency
group with Blake, Cassels & Graydon LLP in Calgary,
will likely limit the prospective pool of purchasers now
looking to buy assets of distressed Alberta oil and gas
companies. Bourassa says it's "early days" and that, so far,
the AER has shown some flexibility on existing LMRs
lower than 2.0 for deals that were already underway.
But, she notes, LMRs are based on the deemed value
of a company's assets based on the rolling three years'
prior netback (gross profit per barrel of oil or equivalent
it produces). Should low oil prices continue as the high
prices of three years ago roll off, that will dramatically
affect future LMR calculations. Moreover, if prices go
LEXPERT-RANKED LAWYERS
