Cequence Energy Ltd
- Proceeding
- CCAAsection 11.7 of the CCAA
- File
- 2001-06770
- Industry
- Energy · Oil & gas production
Cequence Energy Ltd. is under Companies' Creditors Arrangement Act protection. The proceedings, which also cover 1175043 Alberta Ltd., commenced on June 8, 2020 in the Court of King's Bench of Alberta (court file 2001-06770), with Ernst & Young Inc. as monitor. Its largest unsecured claims are Halliburton at CAD 483,661, Sniper Pressure Services Ltd. at CAD 315,119, Caron Measurement and Controls at CAD 228,326, Canadian Forest Products Ltd. at CAD 159,436 and RB Oilfield Hauling Inc. at CAD 146,033. The proceeding is active.
A claims procedure has been established — see the order for deadlines.
Per the Claims Process Order, filed dated 25 June 2020.
The officer filed report no. Sixth Report. The Monitor reports no material or adverse changes to the Company's operations since the Fourth and Fifth Reports, with the Company continuing to fully cooperate with the Monitor.
Source: 006 Sixth Report of Monitor
The officer filed report no. Fifth Report. The company continues operating under CCAA protection with negative cash flows funded by interim financing; the Monitor says further delay to the creditors' meeting risks the plan's implementation.
Source: Fifth Report of the Monitor
The officer filed report no. Fifth Report of the Monitor. Cequence is continuing operations as a going concern under CCAA protection, funded by interim financing because its cash flows during the proceedings have been negative; further delay to the creditors' meeting would add negative cash flow and risk the plan.
Source: 005 Fifth Report of Monitor
Application (CEL Unsecured Creditor Protection), returnable September 14, 2020 Counsel for the Applicant: Stikeman Elliot LLP — Application / notice of application
Application (Kanata Approval), returnable September 8, 2020 — Application / notice of application
The officer filed report no. Fourth Report of the Monitor. The Company's operations continue as expected and within forecast cash flows, with no material or adverse changes since the Third Report; the focus is on finalizing the KEG Settlement and preparing for the September 15, 2020 Creditor Meeting to obtain support for the Plan.
Source: Fourth Report of the Monitor, dated September 4, 2020
The officer filed report no. Fourth Report. The Company's operations are proceeding as expected and within forecast cash flows, with no material or adverse changes since the Third Report; it is finalizing the KEG Settlement and the claims process ahead of the September 15, 2020 creditor meeting.
Source: Fourth Report of the Monitor
Application (Meeting Order) with Schedules, filed August 19, 2020 — Application / notice of application
The officer filed report no. Third Report. Cequence continues to operate in the ordinary course, with no material or adverse changes to operations since the Second Report. It is pursuing a Plan sponsored by its Second Lien Lenders and expects sufficient funds for operations through September 30, 2020.
The officer filed report no. Third Report. The Applicants continue to operate in the ordinary course under CCAA protection, with no material adverse changes to operations, and are pursuing a Plan sponsored by the Second Lien Lenders to emerge as a viable business.
Source: Third Report of the Monitor
On June 8, 2020, the Court of King's Bench of Alberta pronounced an order extending the stay of proceedings in the CCAA proceedings.
Debtor
Cequence Energy Ltd
Monitor
EY
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Jones | Court of King's Bench of Alberta | 5 orders, Jun 2020 – Aug 2020 | 93 cases on record |
| Justice Little | Court of King's Bench of Alberta | 4 orders, Aug 2020 | 59 cases on record |
| Justice Jeffrey | Court of King's Bench of Alberta | 3 orders, Jun 2020 – Aug 2020 | 51 cases on record |
| Justice Grosse | Court of King's Bench of Alberta | 2 orders, May 2020 – Aug 2020 | 14 cases on record |
Counsel of record
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | HALLIBURTON C/O CH3009debtor: Cequence Energy Ltd. · as of 29 Jun 2020 | $484K | Creditor Listing |
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured |
252 more claims in 1 class The stack holds Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansNo acceptable bid — the Monitor is of the view that the Plan offers the only viable option available to the Company... taking into account the results from the informal SISP and the prior sales processes run by the Company006 Sixth Report of Monitor · 15 Sep 2020
Unsecured creditors: a distribution. Plan Sponsors a distribution · Second Lien Lenders no distribution · Term Loan Lenders no distribution.Under the plan · implementedApplication (Plan Sanction) · 16 Sep 2020
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | — | — | paid in full | Under the planimplementedper the court | Plan Sanction Order · 16 Sep 2020 |
| Secured | Plan Sponsors | — | a distribution | Under the planimplementedper the debtor | Application (Plan Sanction) · 16 Sep 2020 |
| Secured | Second Lien Lenders | — | no distribution | Under the planimplementedper the monitor | 003 Third Report of Monitor, filed · 21 Aug 2020 |
| Secured | Term Loan Lenders | — | no distribution | Under the planimplementedper the debtor | Plan of Compromise and Arrangement · 18 Aug 2020 |
| Preferred | — | — | paid in full | Under the planimplementedper the court | Plan Sanction Order · 16 Sep 2020 |
| Preferred | employee-related payments required by subsection 6(5) of the CCAA | — | paid in fullconditional | Under the planimplementedper the debtor | Plan of Compromise and Arrangement · 18 Aug 2020 |
| Unsecured | — | — | a distributionconditional | Under the planimplementedper the debtor | Application (Plan Sanction) · 16 Sep 2020 |
| Equity | existing common shares, warrants and options in Cequence and other Equity Claims | — | no distribution | Under the planimplementedper the debtor | Application (Plan Sanction) · 16 Sep 2020 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
Cumulative receipts
$4.45M
As at 21 Aug 2020Third Report of the Monitor
Cumulative disbursements
As at
Cash on hand
As at
2 more reported figures
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
| Monitor's Plan Implementation Certificate | PDF · Subscribers | |
Service List - 28 Sept 2020
| PDF · Subscribers | |
Plan Sanction Order
| PDF · Subscribers | |
Application (Plan Sanction)
| PDF · Subscribers | |
006 Sixth Report of Monitor
| PDF · Subscribers | |
005 Fifth Report of Monitor
| PDF · Subscribers | |
| Affidavit of T Celinskis, sworn September 11, 2020 (Body, Exhibits A - E) | PDF · Subscribers | |
| Affidavit of T Celinskis, sworn September 11, 2020 (Exhibit J, Part 1 of 2) | PDF · Subscribers | |
| Affidavit of T Celinskis, sworn September 11, 2020 (Exhibit J, Part 2 of 2) | PDF · Subscribers | |
| Affidavit of T Celinskis, sworn September 11, 2020 (Exhibits F - I) | PDF · Subscribers | |
Agenda of the Creditors Meeting
| PDF · Subscribers | |
Application (CEL Unsecured Creditor Protection), returnable September 14, 2020 Counsel for the Applicant: Stikeman Elliot LLP
| PDF · Subscribers | |
| Application (Sealing), returnable September 14, 2020 | PDF · Subscribers | |
Fifth Report of the Monitor
| PDF · Subscribers | |
In connection with the September 14, 2020 hearing
| PDF · Subscribers | |
| Fifth Affidavit of Allan Mowbray (Plan Sanction) | PDF · Subscribers | |
| Application (Kanata Approval), returnable September 8, 2020 | PDF · Subscribers | |
Approval and Vesting Order, filed September 11, 2020
| PDF · Subscribers | |
Creditors Meeting - Zoom Access Details
| PDF · Subscribers | |
| Fourth Affidavit of A. Mowbray, sworn September 4, 2020 | PDF · Subscribers | |
| Order Approving Late Claims, filed September 11, 2020 | PDF · Subscribers | |
| Restricted Court Access Order, filed September 11, 2020 | PDF · Subscribers | |
Fourth Report of the Monitor
| PDF · Subscribers | |
Fourth Report of the Monitor, dated September 4, 2020
| PDF · Subscribers | |
Convenience Class Creditor Notice
| PDF · Subscribers | |
| Creditor (Non-Convenience Class) Instructions | PDF · Subscribers | |
Creditor (Non-Convenience Class) Notice
| PDF · Subscribers | |
Plan of Compromise and Arrangement
| PDF · Subscribers | |
Proxy Form and Proxy Instructions
| PDF · Subscribers | |
6. Notices to Affected Creditors
| PDF · Subscribers | |
| Affidavit of E-Mailing -Cequence August 26, 2020 - Other Creditor Class | PDF · Subscribers | |
Affidavit of Mailing -Cequence August 25, 2020 - Convenience
| PDF · Subscribers | |
Affidavit of Mailing -Cequence August 25, 2020 - Other Creditor Class
| PDF · Subscribers | |
Proxy and Proxy Instructions
| PDF · Subscribers | |
Application (Meeting Order) with Schedules, filed August 19, 2020
| PDF · Subscribers | |
| Meeting Order | PDF · Subscribers | |
Meeting Order with Appendices
| PDF · Subscribers | |
| Meeting Order, returnable August 24, 2020 | PDF · Subscribers | |
Restricted Court Access Order, returnable August 24, 2020
| PDF · Subscribers | |
Stay Extension Order, returnable August 24, 2020
| PDF · Subscribers | |
Third Report of the Monitor
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
| Third Affidavit of A. Mowbray, filed | PDF · Subscribers | |
Cequence Plan
| PDF · Subscribers | |
Creditor Listing
| PDF · Subscribers | |
Newspaper Advertisement
| PDF · Subscribers | |
| Notice of Dispute | PDF · Subscribers | |
| Proof of Claim | PDF · Subscribers | |
| Proof of Claim Instruction Letter | PDF · Subscribers | |
| Claims Process Order, filed | PDF · Subscribers | |
KERP and KEIP Order, filed
| PDF · Subscribers | |
Sealing Order, filed
| PDF · Subscribers | |
Application re Sealing Order, filed
| PDF · Subscribers | |
| Second Report of the Monitor, filed | PDF · Subscribers | |
Application re Approval of Claims Process and KERP KEIP, filed
| PDF · Subscribers | |
Amended and Restated Initial Order, filed
| PDF · Subscribers | |
Restricted Court Access Order, filed
| PDF · Subscribers | |
| First Report of the Monitor, filed | PDF · Subscribers | |
| Affidavit of A Mowbray, sworn and filed | PDF · Subscribers | |
Bench Brief re Initial Order, filed
| PDF · Subscribers | |
| Cequence CCAA - Employee and Contractor FAQ | PDF · Subscribers | |
| Cequence CCAA - General FAQ | PDF · Subscribers | |
| Cequence CCAA - Shareholder FAQ | PDF · Subscribers | |
| Cequence CCAA - Supplier FAQ | PDF · Subscribers | |
| Exhibits to Affidavit of A Mowbray, sworn - Volume C (1 of 4) | PDF · Subscribers | |
| Exhibits to Affidavit of A Mowbray, sworn - Volume C (2 of 4) | PDF · Subscribers | |
| Exhibits to Affidavit of A Mowbray, sworn - Volume C (3 of 4) | PDF · Subscribers | |
| Exhibits to Affidavit of A Mowbray, sworn - Volume C (4 of 4) | PDF · Subscribers | |
| Exhibits to Affidavit of A Mowbray, sworn - Volume D | PDF · Subscribers | |
| First Report of the Proposed Monitor | PDF · Subscribers | |
Originating Application re Initial Order, filed
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Cequence Energy Ltd” (CCAA), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/cequence-energy-ltd