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Strathcona Resources Ltd. acquires Pipestone Energy Inc. for C$1B

Date Closed

October 3, 2023

Lead Office



1.00 Billion CAD

On October 3, 2023, Pipestone Energy Inc. ("Pipestone") was acquired by Strathcona Resources Ltd. ("Strathcona") for C$1 billion by way of plan of arrangement. Strathcona has now acquired all of the issued and outstanding common shares of Pipestone, and has become a public reporting issuer in Canada as per the definitive agreement which was previously announced on August 1, 2023.

Pipestone, headquartered in Calgary, Alberta, is an upstream energy company engaged in oil exploration and production.

Strathcona, based in Calgary, Alberta, is a private equity-owned oil-weighted producer.

McCarthy Tétrault advised Pipestone with a team led by Alyson Goldman that included Michael Bennett, 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), Kate McNeece (Competition/Antitrust), Shane D'Souza, Lyndsey Delamont (Litigation), Ben Aberant and Chris Boettcher (Labour & Employment).