Anterra Energy Inc.

Receivership

^{Page last updated: June 29, 2021}

This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.

Status of File as of May 3, 2021

Notice of Receivership Sale Process – Water Licence

PricewaterhouseCoopers Inc. LIT has been appointed by the Court of Queen’s Bench of Alberta as the receiver and manager (the “Receiver”) of Anterra Energy Inc. (“Anterra”).

The Receiver has engaged PwC Corporate Finance Inc. to divest of Anterra’s Water Licence (and the appurtenant diversion works) through a stalking horse sales process (the “Sales Process”). A confidential party has submitted a stalking horse bid in the form of a signed purchase agreement and has provided a cash deposit.

The Water Licence is for water allocation reserves issued to Anterra pursuant to the provisions of the Water Act (Alberta) under AER License No. 00027129-00-00, as amended. The purpose of use is industrial, and grants licence to divert up to 326 acre-feet annually from the Bow River at the diversion point near Carseland, AB: NW 33-21-25-W4M.

The Receiver is soliciting bids from other interested parties. In order to be considered in the Sales Process, interested parties must present offers providing for a net value of at least $939,000 (excluding transfer taxes and applicable break fee and cure costs) and meet other criteria as specified in the Sales Process documentation.

The deadline for submission of bids is May 26, 2021.

Status of File as of August 1, 2017

On August 1, 2017 Anterra Energy Inc. was assigned into Bankruptcy and PricewaterhouseCoopers Inc. was named Trustee.  A copy of the Notice and Proof of Claim may be accessed under the "Bankruptcy" tab of this website.
 

Status of file as of June 13, 2017

On June 13, 2017, the Receiver filed its first report (the "First Report") in support of an application for a sale process (the "Sale Process") which is to be heard on June 23, 2017. Subject to approval of the Court, the Sale Process is to be led jointly by Sayer Energy Advisors ("Sayer") and PricewaterhouseCoopers Corporate Finance Inc. ("PwCCF"). Sale Process will be for Anterra's mid-stream facility at Breton, Alberta as well as all of Anterra's reserve based assets. The following is the proposed timeline in the Sale Process:
 

If you are interested in participating in the Sale Process, please contact: 

• PwCCF - Bryce Heggie / (403) 441-6357 / bryce.heggie@ca.pwc.com
• Sayer - Alan Tambosso / (403) 266-6133 / atambosso@sayeradvisors.com
   

Status of file as of June 7, 2017

On June 7, 2017, the Court issued an Order appointing PricewaterhouseCoopers Inc. as receiver and manager ("Receiver") over all the assets of Anterra Energy Inc. The purpose of appointing the Receiver is to effect a sale of the assets of the Company.

The Receiver intends to continue operations in the ordinary course, and orders or contracts placed by the Company's customers prior to the receivership are intended to be fulfilled. The Court has authorized the Receiver to obtain financing to pay for services rendered and goods sold to the Company or the Receiver from June 7, 2017 onwards in the ordinary course. 

Crude Oil Marketing arrangements and services provided at the Anterra Breton facility are key to the Company, and financing to be obtained by the Receiver will be used to ensure that those arrangements and services remain unchanged through the receivership process. The Company does not anticipate any interruption in handling of and payment for volumes delivered.

The Receiver intends to seek court approval to commence a sale process for the Company's assets, including the Company's mid-stream oil blending facility at Breton, Alberta.

All current directors of the Company have resigned concurrently with the appointment of the Receiver.
 

Status of file as of May 18, 2017

On May 18, 2017 the Court issued an Order extending the stay of proceedings in this matter up to and including June 16, 2017.
 

Status of file as of May 17, 2017

On May 17, 2017, the Monitor filed its Eleventh Report to the Court. The Report outlines a Material Adverse Change which significantly impairs the likelihood of the Company making a successful Plan of Compromise or Arrangement. Stakeholders are encouraged to read the Eleventh Report. 
 

Status of file as of April 13, 2017

On April 13, 2017 the Court issued an Order extending the stay of proceedings in this matter up to and including June 2, 2017.
 

Status of file as of January 18, 2017

On January 18, 2017 the Court issued an Order extending the stay of proceedings in this matter up to and including April 14, 2017.
 

Status of file as of October 24, 2016

On October 24, 2016 the Court issued an Order extending the stay of proceedings in this matter up to and including January 20, 2017.
 

Status of file as of August 17, 2016

On August 17, 2016 the Court issued an Order extending the stay or proceedings in this matter up to and including October 28, 2016.
 

Status of file as of June 3, 2016

On June 3, 2016 the Court issued an Order extending the stay of proceedings in this matter up to and including August 16, 2016.
 

Status of file as of May 6, 2016

On May 6, 2016 PricewaterhouseCoopers Inc. was appointed Monitor of Anterra Energy Inc. pursuant to an Order of the Court of Queen's Bench of Alberta, Calgary Judicial Centre. A copy of this Order may be accessed on this website.

This Web site will be updated as information becomes available.

For more information, please contact: Lynda Huber, Telephone: +1 403 509 7560, Fax: +1 403 781 1825, or via Email.