Proceedings.

Erikson National Energy Inc.

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Closed
Proceeding
CCAACompanies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
File
2501-03468
Filings held67
Last activity6 May 2025
On the record559 days
Secured debt$4.98M
OverviewSummary updated

Erikson National Energy Inc. obtained CCAA protection from the Court of King's Bench of Alberta on March 11, 2025 in file 2501-03468, with KSV Restructuring Inc. appointed Monitor and an initial stay running to March 14, 2025. The initial order granted an Administration Charge to a maximum of $200,000 for the Monitor, its counsel and the applicant's counsel, ranking ahead of a $2,150,000 Interim Lender's Charge in favour of Third Eye Capital Corporation as administrative and collateral agent. In its First Report dated April 30, 2025, the Monitor reported that efforts to sell the Oil & Gas Assets had failed, including termination of the Gryphon Transaction, and that the BCER had orphaned 61 wells, 10 facilities and 81 pipeline segments. Lacking a viable transaction or financing, the Monitor recommended a CCAA Termination Order. The Court pronounced an order on May 5, 2025.

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Case updates69 dated entries
#Report

Monitor's First Report recorded the failed Oil & Gas Assets sale and terminated Gryphon Transaction, the BCER's orphaning of 61 wells, 10 facilities and 81 pipeline segments, and sought a termination order, the Monitor's discharge and approval of KSV fees of $255,462.41 and Fasken fees of $130,711.85.

Source: First Report of the Monitor dated April 30, 2025

#Order

Granted CCAA protection with a stay to March 14, 2025, appointed KSV Restructuring Inc. as Monitor, and created a $200,000 Administration Charge ranking ahead of a $2,150,000 Interim Lender's Charge to Third Eye Capital Corporation.

Source: Initial Order dated March 11, 2025

Parties

Debtor

Erikson National Energy Inc.

Monitor

KSV

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice BurnsCourt of King's Bench of Alberta3 orders, Nov 202441 cases on record
Justice BourqueCourt of King's Bench of Alberta2 orders, Mar 2025 – May 202528 cases on record
Justice CampbellCourt of King's Bench of Alberta2 orders, Dec 202427 cases on record
Justice JohnstonCourt of King's Bench of Alberta2 orders, Oct 202432 cases on record

Counsel of record

PartyCounselFirst seenSource
DebtorErikson National Energy Inc.Bennett Jones LLP3 Dec 2024Factum · 3 Dec 2024
CreditorAddress for Service and Contact Information of Filing This DocumentBennett Jones LLP22 Jan 2025Order · 22 Jan 2025
CreditorBritish Columbia Energy RegulatorMiller Thomson LLP7 Oct 2024Factum · 7 Oct 2024
Capital structureAs asserted in the filings
stated amounts, drawn to scale
#Priority classCreditorAmountSource
Court-ordered charges
1Court-ordered chargesInterim Lender's Charge — Second – Interim Lender's Charge (in the amount of $2,150,000).$2.15MInitial Order dated March 11, 2025
1Court-ordered chargesInterim financing (DIP) charge$2.15MInitial Order dated March 11, 2025
1Court-ordered chargesAdministration Charge — First – Administration Charge (to the maximum amount of $200,000).$200KInitial Order dated March 11, 2025
Pre-filing debt
4SecuredBC Oil and Gas Commission (predecessor to BCER) · in 3 casesSection 30 Order under Oil and Gas Activities Act requiring security, conditioned on Erikson achieving a Liability Management Rating (LMR) of 0.95 by 2021-04-01 or 1.0 by 2021-08-01 — Regulatory security-deposit order from Exhibit E (General Order 2021-0054-01); Erikson did not meet either LMR threshold and had not provided the security as of August 2021; unclear from the record whether superseded by the later September 2022 or July 2024 Security Orders — debtor: Erikson National Energy Inc. · as of 29 Oct 2020$4.98MAffidavit of M. Janzen affirmed October 2, 2024
4SecuredBritish Columbia Energy Regulator (BCER)as of fiscal 2023/2024 — Regulatory levy (Pipeline Levy) unpaid — debtor: Erikson National Energy Inc.$47.8KAffidavit of M. Janzen affirmed October 2, 2024
Sale processAs stated in the filings
RecoveriesAs stated in the filings

Unsecured creditors: no distribution.Application for Extension and Micellaneous Relief · 3 Dec 2024

ClassCreditorClaimsRecoveryBasisSource
Unsecuredcreditors of net proceeds from sale of the Purchased Assetsno distributionconditionalApplication for Extension and Micellaneous Relief · 3 Dec 2024

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.

Fees and ratesAs stated in the filings

2 engagements · 2 firmslatest: (firm not named), 30 Sep 2024 – 28 Apr 2025, $117,113.51 in feesFirst Report of the Monitor · 30 Apr 2025

FirmPeriodHoursFeesRatesSource
(firm not named)capacity not statedfirm not named in the heading30 Sep 2024 – 28 Apr 2025$117,113.51ex. taxnot statedFirst Report of the Monitor · 30 Apr 2025
KSV Restructuring Inc.Monitor30 Sep 2024 – 28 Apr 2025$242,110.25ex. taxnot statedFirst Report of the Monitor · 30 Apr 2025
Estate financialsReported figures — never derived
Total liabilities at filing$42.6M

As at 1 Oct 2024 · per Company's listed liabilities per books and records (unaudited); stated as a floor ("in excess of $42.64 million") · entity - Erikson National Energy Inc. — Comprises secured obligations of approx. $31.69 million (TEC) and unsecured obligations totaling $10.95 million; figure is a stated floor, quoted as 'in excess of'. Separately, the Company's internal balance sheet as at June 30, 2024 (a different date) lists approximately $33.61 million in asset retirement obligations (regulatory quasi-debt, ARO), not included in the $42.64 million liabilities figure.

Professional fees to date

$255K

As at 30 Apr 2025First Report of the Monitor dated April 30, 2025

Documents
67 filings
DateDocumentFile
Monitor's Certificate dated May 6, 2025PDF
CCAA Termination Order dated May 5, 2025
  • Commencement date 11 March 2025
  • Court Court of King's Bench of Alberta
  • Debtor names Erikson National Energy Inc.
  • Monitor KSV Restructuring Inc.
  • + 4 more extracted facts
PDF
Affidavit of Peter Neelands sworn April 30, 2025PDF
CCAA Termination Application dated April 30, 2025PDF
First Report of the Monitor dated April 30, 2025
  • Commencement date 11 March 2025
  • Court Court of King's Bench of Alberta
  • Court file no 2501 03468
  • Fee schedule Engagements: Form: invoice_listing · Rows: · Money: Tax: $12.2K · Label: GST · Quote: 12,164.90 · Fees: $242K · Quote: 242,110.25 · Total: $255K · Quote: 255,462.41 · includes tax · includes disbursements · Approximate: false · Disbursements: $1.19K · Quote: 1,187.26 · Period: End: 2025-04-28 · Kind: invoice · Quote: FOR THE PERIOD OF SEPTEMBER 30, 2024 TO APRIL 28, 2025 · Start: 2024-09-30 · Approval: State: unstated · Averages: · Currency: · Invoices: Tax: 2365.44 · Fees: 47088.75 · Quote: September 30, 2024 to October 21, 2024 | 3992 | 47,088.75 | 220.00 | 47,308.75 | 2,365.44 | 49,674.19 · Total: 49674.19 · Period end: 2024-10-21 · Period start: 2024-09-30 · Disbursements: 220; Tax: 463.91 · Fees: 9087.5 · Quote: October 22, 2024 to October 31, 2024 | 4020 | 9,087.50 | 190.61 | 9,278.11 | 463.91 | 9,742.02 · Total: 9742.02 · Period end: 2024-10-31 · Period start: 2024-10-22 · Disbursements: 190.61; Tax: 1181.28 · Fees: 23617.5 · Quote: November 1, 2024 to November 17, 2024 | 4054 | 23,617.50 | 8.00 | 23,625.50 | 1,181.28 | 24,806.78 · Total: 24806.78 · Period end: 2024-11-17 · Period start: 2024-11-01 · Disbursements: 8; Tax: 1184.44 · Fees: 23688.75 · Quote: November 18, 2024 to November 30, 2024 | 4072 | 23,688.75 | - | 23,688.75 | 1,184.44 | 24,873.19 · Total: 24873.19 · Period end: 2024-11-30 · Period start: 2024-11-18; Tax: 1934.56 · Fees: 38691.25 · Quote: December 1, 2024 to December 31, 2024 | 4134 | 38,691.25 | - | 38,691.25 | 1,934.56 | 40,625.81 · Total: 40625.81 · Period end: 2024-12-31 · Period start: 2024-12-01; Tax: 1364 · Fees: 27280 · Quote: January 1, 2025 to January 31, 2025 | 4194 | 27,280.00 | - | 27,280.00 | 1,364.00 | 28,644.00 · Total: 28644 · Period end: 2025-01-31 · Period start: 2025-01-01; Tax: 1376.88 · Fees: 27537.5 · Quote: February 1, 2025 to February 28, 2025 | 4259 | 27,537.50 | - | 27,537.50 | 1,376.88 | 28,914.38 · Total: 28914.38 · Period end: 2025-02-28 · Period start: 2025-02-01; Tax: 1527.26 · Fees: 30426.5 · Quote: March 1, 2025 to March 31, 2025 | 4311 | 30,426.50 | 118.65 | 30,545.15 | 1,527.26 | 32,072.41 · Total: 32072.41 · Period end: 2025-03-31 · Period start: 2025-03-01 · Disbursements: 118.65; Tax: 767.13 · Fees: 14692.5 · Quote: April 1, 2025 to April 28, 2025 | 4371 | 14,692.50 | 650.00 | 15,342.50 | 767.13 | 16,109.63 · Total: 16109.63 · Period end: 2025-04-28 · Period start: 2025-04-01 · Disbursements: 650 · Firm text: KSV Restructuring Inc. · Firm quote: KSV Restructuring Inc. (' KSV ') consented to act as proposal trustee · Context quote: KSV Restructuring Inc. Suite 1165, 324 - 8th Avenue SW Calgary, Alberta T2P 2Z2; Form: invoice_listing · Rows: · Money: Tax: $6.19K · Label: GST · Quote: 6,187.61 · Fees: $117K · Quote: 117,113.51 · Total: $131K · Quote: 130,711.85 · includes tax · includes disbursements · Approximate: false · Disbursements: $7.41K · Quote: 7,410.73 · Period: End: 2025-04-28 · Kind: invoice · Quote: FOR THE PERIOD OF SEPTEMBER 30, 2024 TO APRIL 28, 2025 · Start: 2024-09-30 · Approval: State: unstated · Averages: · Currency: · Invoices: Tax: 894.69 · Fees: 17865 · Quote: October 7, 2024 to October 20, 2024 | 2050198 | 17,865.00 | 28.88 | 17,893.88 | 894.69 | 18,788.57 · Total: 18788.57 · Period end: 2024-10-20 · Period start: 2024-10-07 · Disbursements: 28.88; Tax: 627.73 · Fees: 12554.5 · Quote: October 21, 2024 to November 3, 2024 | 2055793 | 12,554.50 | 20.00 | 12,574.50 | 627.73 | 13,202.23 · Total: 13202.23 · Period end: 2024-11-03 · Period start: 2024-10-21 · Disbursements: 20; Tax: 453.52 · Fees: 8181.5 · Quote: November 4, 2024 to November 19, 2024 | 2060830 | 8,181.50 | 958.96 | 9,140.46 | 453.52 | 9,593.98 · Total: 9593.98 · Period end: 2024-11-19 · Period start: 2024-11-04 · Disbursements: 958.96; Tax: 1115.52 · Fees: 22060 · Quote: November 20, 2024 to December 2, 2024 | 2068258 | 22,060.00 | 540.49 | 22,600.49 | 1,115.52 | 23,716.01 · Total: 23716.01 · Period end: 2024-12-02 · Period start: 2024-11-20 · Disbursements: 540.49; Tax: 845.84 · Fees: 15917.5 · Quote: December 3, 2024 to December 16, 2024 | 2075703 | 15,917.50 | 1,089.39 | 17,006.89 | 845.84 | 17,852.73 · Total: 17852.73 · Period end: 2024-12-16 · Period start: 2024-12-03 · Disbursements: 1089.39; Tax: 143.07 · Fees: 337.5 · Quote: December 17, 2024 to December 31, 2024 | 2087033 | 337.50 | 2,523.96 | 2,861.46 | 143.07 | 3,004.53 · Total: 3004.53 · Period end: 2024-12-31 · Period start: 2024-12-17 · Disbursements: 2523.96; Tax: 177.85 · Fees: 2850 · Quote: January 1, 2025 to January 19, 2025 | 2091750 | 2,850.00 | 726.97 | 3,576.97 | 177.85 | 3,754.82 · Total: 3754.82 · Period end: 2025-01-19 · Period start: 2025-01-01 · Disbursements: 726.97; Tax: 199.21 · Fees: 3675 · Quote: January 20, 2025 to February 2, 2025 | 2093049 | 3,675.00 | 309.20 | 3,984.20 | 199.21 | 4,183.41 · Total: 4183.41 · Period end: 2025-02-02 · Period start: 2025-01-20 · Disbursements: 309.2; Tax: 401.15 · Fees: 7875 · Quote: February 2, 2025 to February 23, 2025 | 2098601 | 7,875.00 | 278.33 | 8,153.33 | 401.15 | 8,554.48 · Total: 8554.48 · Period end: 2025-02-23 · Period start: 2025-02-02 · Disbursements: 278.33; Tax: 281.71 · Fees: 5409 · Quote: February 24, 2025 to March 3, 2025 | 2103902 | 5,409.00 | 225.29 | 5,634.29 | 281.71 | 5,916.00 · Total: 5916 · Period end: 2025-03-03 · Period start: 2025-02-24 · Disbursements: 225.29; Tax: 506.89 · Fees: 10041 · Quote: March 4, 2025 to March 13, 2025 | 2107466 | 10,041.00 | 228.28 | 10,269.28 | 506.89 | 10,776.17 · Total: 10776.17 · Period end: 2025-03-13 · Period start: 2025-03-04 · Disbursements: 228.28; Tax: 34.3 · Fees: 225 · Quote: March 14, 2025 to March 31, 2025 | 2119885 | 225.00 | 480.98 | 705.98 | 34.30 | 740.28 · Total: 740.28 · Period end: 2025-03-31 · Period start: 2025-03-14 · Disbursements: 480.98; Tax: 506.13 · Fees: 10122.51 · Quote: April 1, 2025 to April 28, 2025 | | 10,122.51 | - | 10,122.51 | 506.13 | 10,628.64 · Total: 10628.64 · Period end: 2025-04-28 · Period start: 2025-04-01 · Context quote: Robyn Gurofsky / Jessica Cameron · Firm unverified: true
  • + 8 more extracted facts
PDF
Notice to Creditors dated March 17, 2025PDF
Amended and Restated Initial Order dated March 11, 2025
  • Order date 11 March 2025
  • Stay expiry 5 May 2025
PDF
Creditor Listing as at March 11, 2025PDF
Initial Order dated March 11, 2025
  • Charges Administration Charge $200K; Interim Lender's Charge $2.15M
  • Court COURT OF KING'S BENCH OF ALBERTA
  • Court file no 2501-03468
  • Debtor names Erikson National Energy Inc.
  • + 5 more extracted facts
PDF
Affidavit #1 of Veronica Burns sworn March 6, 2025PDF
Pre-Filing Report of the Proposed Monitor dated March 6, 2025
  • Financial position Liabilities $42.6M · as at 1 Oct 2024 · per Company's listed liabilities per books and records (unaudited); stated as a floor ("in excess of $42.64 million") · entity - Erikson National Energy Inc. — Comprises secured obligations of approx. $31.69 million (TEC) and unsecured obligations totaling $10.95 million; figure is a stated floor, quoted as 'in excess of'. Separately, the Company's internal balance sheet as at June 30, 2024 (a different date) lists approximately $33.61 million in asset retirement obligations (regulatory quasi-debt, ARO), not included in the $42.64 million liabilities figure.
  • Secured creditors Note: Serialized-equipment/vehicle lease financier; amount not stated. · Page: 34 · As of: Filing Date (October 1, 2024) · Debtor: Erikson National Energy Inc. · Creditor: PPSA equipment financiers (PMSI class) · Currency: CAD · Security: PPSA registrations re various vehicle leases (Calmont Leasing Ltd.)
PDF
Sixth Report of the Proposal Trustee dated March 6, 2025PDF
Affidavit of Peter Neelands sworn March 3, 2025
  • Financial position Assets $38.2M · Liabilities $77M · as at 30 Jun 2024 · per unaudited financial statements; book value · entity (Erikson National Energy Inc.) — Figures are described as book value per Erikson's most recent (unaudited) financial statements as at June 30, 2024.
  • Secured creditors $31.7M · Note: Amount stated as owing 'plus further accruing interest and costs' (balance not final). Peter Neelands, sole director of Erikson, is also Principal of TEC - related party relationship disclosed by affiant. · Page: 5 · As of: NOI filing date (commencement of NOI Proceedings, October 1, 2024) · Debtor: Erikson National Energy Inc. · Creditor: Third Eye Capital Corporation ("TEC"), as agent for various investment funds acting as secured lenders · Security: General security agreement providing a first charge on all present and after-acquired real property of Erikson, subject to a limited number of assets where CNRL holds an operators lien ranking in priority to TEC
PDF
Originating Application dated March 3, 2025PDF
Order dated February 20, 2025
  • Presiding officer Justice D. Mah
PDF
Supplemental Affidavit of Peter Neelands sworn February 19, 2025PDF
Affidavit of Kathy Brulotte sworn February 18, 2025PDF
Fifth Report of the Proposal Trustee dated February 18, 2025PDF
Letter to Service List dated February 18, 2025PDF
Application for Stay Extension and Miscellaneous Relief dated February 10, 2025PDF
Third Affidavit of Peter Neelands sworn February 10, 2025PDF
Order dated January 22, 2025
  • Counsel Bennett Jones LLP
  • Presiding officer Justice P. Jeffrey
PDF
Affidavit of Chris Pasztor affirmed January 21, 2025PDF
Fourth Report of the Proposal Trustee dated January 16, 2025PDF
Application for Stay Extension and Micellaneous Relief dated January 13, 2025PDF
Second Affidavit of Peter Neelands sworn January 13, 2025PDF
Notice of Appeal dated December 13, 2024PDF
Application for Restricted Court Access Order dated December 10, 2024PDF
Extension and Amendment of Interim Financing Order dated December 10, 2024
  • Order date 9 December 2024
  • Presiding officer Justice G.A. Campbell
  • Stay extended to 23 January 2025
PDF
Restricted Court Access Order dated Filed December 10, 2024
  • Presiding officer Justice G.A. Campbell
PDF
Sales Approval and Vesting Order dated December 10, 2024PDF
Sale Approval and Vesting Order dated December 9, 2024PDF
Affidavit of Peter Neelands sworn December 6, 2024PDF
Application for Emergency Measures Order dated December 6, 2024PDF
Emergency Measures Order dated December 6, 2024PDF
Third Report of the Proposal Trustee dated December 6, 2024PDF
Reply Brief dated December 5, 2024
  • Counsel Bennett Jones LLP
PDF
Transcripts on Questioning of M. Janzen filed December 5, 2024PDF
Affidavit of Peter Neelands sworn December 3, 2024PDF
Application for Extension and Micellaneous Relief dated December 3, 2024
  • Recovery outcome Entries: per unstated · Table missing:
PDF
Brief dated December 3, 2024
  • Counsel Bennett Jones LLP
PDF
Supplemental Affidavit of M. Janzen affirmed December 3, 2024PDF
Affidavit of Elena Pratt, sworn November 27, 2024PDF
Sealing Order dated November 21, 2024
  • Presiding officer Justice M. E. Burns
PDF
Stay Extension and Interim Financing Amendment Order dated November 21, 2024
  • Order date 21 November 2024
  • Presiding officer Justice M. E. Burns
  • Stay extended to 10 December 2024
PDF
Application for Sealing Order dated November 18 2024PDF
Second Report of the Proposal Trustee dated November 18, 2024PDF
Affidavit of Mark Horrox sworn November 15, 2024PDF
Stay Extension Application dated November 15, 2024
  • Order date 21 November 2024
  • Presiding officer Justice M. E. Burns
  • Stay extended to 15 January 2025
PDF
Extension Admin Charge and Sealing Order dated October 21, 2024
  • Bid deadline 14 November 2024
  • Order date 21 October 2024
  • Presiding officer Justice P. Johnston
  • Stay extended to 30 November 2024
PDF
Interim Financing Order dated October 21, 2024
  • Presiding officer Justice Johnston
PDF
Brief of Canadian Natural Resources Limited dated October 20, 2024PDF
Affidavit of Ron K. Laing sworn October 18, 2024PDF
Application for Interim Financing dated October 18, 2024PDF
First Report of the Proposal Trustee dated October 18, 2024
  • Financial position Assets $38.2M · Liabilities $42.6M · as at 30 Jun 2024 · per unaudited internal/management financial statements; book value for assets · entity (Erikson National Energy Inc.) — Total assets ($38,218,000, in $000s book value) are as at June 30, 2024 (per most recent internal financial statements); total liabilities are stated as 'in excess of $42.64 million' (a floor) as at the Filing Date (October 1, 2024), comprising secured obligations of ~$31.69 million to TEC and unsecured obligations of $10.95 million; asset retirement obligations of ~$33.61 million as at June 30, 2024 are listed separately and not included in the $42.64 million liabilities figure; balance sheet as at June 30, 2024 also recorded negative retained earnings of ~$38.75 million.
  • Secured creditors Note: Amount not stated · Page: 6 · Debtor: Erikson National Energy Inc. · Creditor: Calmont Leasing Ltd. · Currency: CAD · Security: PPSA registrations - various vehicle leases
PDF
Supplemental Affidavit of Mark Horrox sworn October 18, 2024PDF
Affidavit of Mark Horrox in support of NOI Extension sworn October 15, 2024PDF
Application for NOI Extension, Admin Charge and Sealing Order dated October 15, 2024PDF
Brief for Erikson re Stay Extension dated October 15, 2024
  • Bid deadline 14 November 2024
  • Presiding officer Justice Johnson
  • Stay extended to 30 November 2024
PDF
Secretarial Affidavit sworn October 10, 2024PDF
Affidavit of Service filed October 7, 2024PDF
Brief of Law filed October 7, 2024
  • Counsel Miller Thomson LLP
PDF
Consent to Act filed October 3, 2024PDF
Notice to Creditors dated October 3, 2024PDF
Receivership Application filed October 3, 2024
  • Secured creditors $390K · Note: Regulatory; document states amount as approximate ('almost $390,000'), no exact dated balance or demand date given · Page: 5 · Debtor: Erikson National Energy Inc. · Creditor: British Columbia Energy Regulator (BCER) · Security: Outstanding industry levies owed to BCER
PDF
Affidavit of M. Janzen affirmed October 2, 2024
  • Secured creditors $1.65K · Note: Regulatory levy (Production Levy) unpaid · Page: 6 · Debtor: Erikson National Energy Inc. · Creditor: British Columbia Energy Regulator (BCER)
PDF
Certificate for the Notice of Intention - 25-3135903PDF

Filing titles, dates, and extracted key facts are public.

CiteProceedings., “Erikson National Energy Inc.” (CCAA), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/erikson-national-energy-inc

Sources last checked · summary updated 5 August 2026 · Report a correction · Printed from proceedings.ca/case/erikson-national-energy-inc

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.