Wolf Midstream Inc. acquires 50% of Access Pipeline from Devon for C$1.4bn

The Calgary office advised Wolf Midstream Inc., a portfolio Company of CPPIB, in connection with its C$1.4bn acquisition of a 50% interest in the Access Pipeline system from Devon Energy and the related syndicated credit facility.  The matter was complex as under the transaction agreements,  Devon’s thermal-oil acreage is dedicated to Access pipeline for an initial term of 25 years. A market-based toll will be applied to production from Devon’s three Jackfish projects, which are fully operational.

The Calgary team was led by Rick Borden, KayLynn Litton, Dion Legge, Darren Hueppelsheuser, Terry Hughes, Danielle Maksimow, Adam Lamoureux and Rujuta Patel