Peters & Co.

Athabasca Oil Corporation

Exclusive financial advisor to Athabasca and its board; fairness opinion · Energy (Oil Sands)

Buyer Cenovus Energy Inc.

Cenovus agreed to buy Athabasca Oil through a plan of arrangement at $12.00 per share in cash and Cenovus shares, an implied enterprise value of about $5.7 billion, adding thermal oil sands production near its Christina Lake assets.

Topaz Energy Corp. (bought deal secondary offering of common shares)

Co-lead underwriter · Oil & Gas / Royalties and Infrastructure

Seller Tourmaline Oil Corp.

Tourmaline agreed to sell 10 million Topaz common shares at C$28.75 to underwriters on a bought deal basis for about C$287.5 million, cutting its stake from about 12.9% to 6.4%, and said it would redeploy proceeds into share repurchases.

Headwater Exploration Inc.

Exclusive financial advisor to Headwater; fairness opinion to the Headwater board · Oil & Gas

Buyer Tamarack Valley Energy Ltd.

Tamarack Valley and Headwater agreed to merge in an all-stock transaction valued at $10 billion, creating a Clearwater-focused oil producer and spinning out a new exploration company.

Advantage Energy Ltd. Wembley area assets (Alberta)

Financial advisor to Advantage · Energy (Oil & Gas)

Seller Advantage Energy Ltd.

Advantage Energy agreed to sell its Montney assets in the Wembley area of Alberta to an undisclosed buyer for $316 million in cash, using the proceeds to cut net debt and speed up shareholder returns.

Fox Drilling

Financial advisor to Paramount · Oilfield Services

Buyer AKITA Drilling Ltd. · Seller Paramount Resources Ltd.

AKITA Drilling agreed to acquire Paramount's Fox Drilling subsidiary for 19,264,270 AKITA voting shares, alongside eliminating its dual-class share structure.

SB Directional Services (directional drilling business)

Financial advisor to ACT · Oilfield Services

Buyer ACT Energy Technologies Ltd. · Seller SB Directional Services

ACT Energy Technologies agreed to acquire Oklahoma-based SB Directional Services' directional drilling business for US$47 million in cash and shares.

Kiwetinohk Energy Corp.

Independent valuator (formal valuation) and fairness opinion to the special committee · Oil & Gas

Buyer Cygnet Energy Ltd.

Private E&P Cygnet, backed by NGP, ARC Financial and Carlyle, agreed to acquire Kiwetinohk for $24.75 per share in cash (enterprise value about $1.4 billion) after a strategy review.

Rockpoint Gas Storage Inc.

Underwriter (syndicate member) · Energy Infrastructure (Gas Storage)

Rockpoint priced an upsized IPO of 32 million Class A shares at C$22.00 for gross proceeds of about C$704 million (date is the pricing announcement).

40% operated working interest in the Sinú-9 Block (Colombia)

Lead financial advisor to NGE · Energy - Natural Gas

Buyer Etablissements Maurel & Prom S.A. · Seller NG Energy International Corp.

NG Energy agreed to sell a 40% operated working interest in the Sinú-9 gas block to Maurel & Prom for US$150 million, retaining 32%.

Parex Resources Inc. (own shares)

Broker for the normal course issuer bid and automatic share purchase plan · Energy (oil & gas)

Buyer Parex Resources Inc.

Calgary-based Parex's normal course issuer bid to buy back up to 8,621,348 shares (10% of the public float) from January 22, 2025 to January 21, 2026. Peters & Co. buys shares for Parex under the bid, including during blackout periods under an automatic share purchase plan.

Topaz Energy Corp.

Co-lead underwriter (bought deal secondary) · Oil & Gas (royalties)

Seller Tourmaline Oil Corp.

Tourmaline sold Topaz Energy common shares in a bought deal secondary offering, initially C$242 million and upsized to C$300 million on Nov. 26, 2024.

Paramount Resources Ltd. (Karr and Wapiti Montney assets)

Lead financial advisor to Paramount · Oil & Gas (E&P)

Buyer Ovintiv Inc. · Seller Paramount Resources Ltd.

Paramount Resources agreed to sell its Karr and Wapiti Montney assets in Alberta to Ovintiv for about C$3.325 billion in cash (US$2.377 billion).

CES Energy Solutions Corp.

Co-manager · Oilfield Services

CES agreed to sell $200 million of 6.875% senior unsecured notes due 2029 by private placement.

Hammerhead Energy Inc.

Financial advisor to the special committee; fairness opinion · Oil & Gas

Buyer Crescent Point Energy Corp.

Crescent Point agreed to acquire Alberta Montney producer Hammerhead Energy by plan of arrangement for total consideration of about $2.55 billion including debt.

Bonavista Energy Corporation

Financial advisor to Tourmaline · Oil & Gas

Buyer Tourmaline Oil Corp.

Tourmaline agreed to buy private Deep Basin producer Bonavista for $1.45 billion in cash and shares, less net debt.

Hammerhead Resources Inc.

Financial and capital markets advisor to Hammerhead; fairness opinion to the Hammerhead special committee · Oil & Gas

Buyer Decarbonization Plus Acquisition Corporation IV

Montney producer Hammerhead agreed to go public through a business combination with SPAC Decarbonization Plus Acquisition Corporation IV.

Deltastream Energy Corporation

Strategic advisor to Tamarack · Oil & Gas

Buyer Tamarack Valley Energy Ltd.

Tamarack agreed to buy private Clearwater oil producer Deltastream for $1.425 billion of cash, deferred payment and shares, funded partly by new term debt and sustainability-linked notes.

Topaz Energy Corp.

Lead underwriter of the bought-deal secondary offering · Oil & Gas (Royalties & Infrastructure)

Seller Tourmaline Oil Corp.

Tourmaline agreed to sell Topaz shares in a $108 million bought-deal secondary offering.

Black Swan Energy Ltd.

Financial advisor to Black Swan · Oil & Gas (Exploration & Production)

Buyer Tourmaline Oil Corp.

Tourmaline agreed to acquire private North Montney producer Black Swan for about $1.1 billion, paid in 26 million Tourmaline shares plus assumed net debt.

Tervita Corporation

Financial advisor and fairness opinion to SECURE · Energy Services & Environmental

Buyer SECURE Energy Services Inc.

SECURE and Tervita agreed to an all-share merger creating a midstream infrastructure and environmental solutions business with an implied enterprise value of about $2.3 billion.

Clearwater and waterflood assets (Provost and Nipisi, Alberta)

Financial advisor on the asset acquisition and strategic advisor on the corporate acquisition; co-lead of the bought deal · Oil & Gas (Exploration & Production)

Buyer Tamarack Valley Energy Ltd.

Tamarack agreed to asset and corporate acquisitions in the Clearwater play totalling about $135.3 million net of a royalty disposition, funded partly by a $55 million bought-deal equity financing.

Bonterra Energy Corp.

Advisor to Bonterra (as named in Obsidian's letter) · Oil & Gas

Buyer Obsidian Energy Ltd.

Obsidian Energy publicly proposed an all-share combination with Bonterra Energy; no transaction resulted.

Bellatrix Exploration Ltd.

Independent financial advisor to the special committee; opinions to the special committee and board · Energy (Oil & Gas)

Bellatrix proposed a recapitalization exchanging senior unsecured notes and convertible debentures to cut debt by about C$110 million.

Trilogy Energy Corp.

Financial advisor to the Paramount special committee · Energy (Oil & Gas)

Buyer Paramount Resources Ltd.

Paramount agreed to acquire the Trilogy shares it did not already own in a share-exchange merger reviewed by special committees of both companies.

Petroamerica Oil Corp.

Financial advisor to Gran Tierra · Oil & Gas

Buyer Gran Tierra Energy Inc.

Gran Tierra agreed to acquire Colombia-focused Petroamerica in a cash-and-share deal with a transaction value of about US$84 million including working capital.