Petrocapita Oil and Gas L.P., Petrocapita G.P. I Ltd., Petrocapita Processing L.P. and Petrocapita GP II Ltd.
Follow- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- File
- 1901-07098
Petrocapita Oil and Gas L.P., together with Petrocapita G.P. I Ltd., Petrocapita Processing L.P. and Petrocapita GP II Ltd., has been in court-appointed receivership under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority since June 11, 2019, in the Court of Queen's Bench of Alberta under file 1901-07098. The proceeding remains active. Reported assets of Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. stood at $38,381,000 on unaudited internal book value as at December 31, 2018, cash excepted at June 10, 2019, of which property and equipment net accounted for $36,285,000; no total liabilities figure was reported. Secured claims include senior secured debentures of $8,697,232.23 held through Alliance Trust Company as agent and a Safeway Holdings (Alberta) Ltd. debenture of $8,074,208.11, with amounts owed to Royal Bank of Canada, the Canada Revenue Agency, the Alberta Energy Regulator and Saskatchewan's Ministry of Energy and Resources recorded as unknown. Unsecured invoice balances total $7,235,957.55 against Petrocapita Oil and Gas L.P. and $24,925.11 against Petrocapita G.P. I Ltd.
Service Letter (re Order - Approval of Distribution and Discharge of Receiver) — Order (other)
Debtor
Petrocapita Oil and Gas L.P., Petrocapita G.P. I Ltd., Petrocapita Processing L.P. and Petrocapita GP II Ltd.
Receiver
Hudson & Company Insolvency Trustees
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Eidsvik | Court of King's Bench of Alberta | 3 orders, Jan 2021 | 30 cases on record |
| Justice Eamon | Court of King's Bench of Alberta | 2 orders, Jun 2019 – Aug 2019 | 3 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverHudson & Company Insolvency Trustees | Dentons Canada LLP | 21 Jan 2021 | Order · 21 Jan 2021 |
| DebtorPetrocapita Oil and Gas L.P., Petrocapita G.P. I Ltd., Petrocapita Processing L.P. and Petrocapita GP II Ltd. | Bennett Jones LLP | 21 Jan 2021 | Order · 21 Jan 2021 |
| CreditorOrphan Well Association | Miles Davison LLP | 18 Aug 2020 | Service Letter (re Filed Orders) · 18 Aug 2020 |
| CreditorSafeway Holdings (Alberta) Ltd | Burnet Duckworth & Palmer LLP | 20 May 2019 | Application · 20 May 2019 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency · in 926 casesSecurity on the Property; amount owed unknown — Deemed trust class - book value listed as 'Unknown' — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. · as of 11 Jun 2019 | — | Notice of Receiver |
| 4 | Secured | Alliance Trust Company, as AgentSenior Secured Debentures — Listed as 'Unknown' book value on Form 87 (page 2) but exact figure given in Schedule A debenture list (page 3) as 'ALLIANCE - SENIOR SECURED DEBENTURES' — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. | $8.7M | Notice of Receiver |
| 4 | Secured | Safeway Holdings (Alberta) Ltd. · in 2 casesDebenture — Form 87 (page 2) shows book value $8,070,000 (in $000's, rounded); Schedule A (page 3) gives exact figure $8,074,208.11 for 'SAFEWAY HOLDINGS' debenture — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. | $8.07M | Notice of Receiver |
| 4 | Secured | Maha Energy Inc. · in 2 casesDebenture — Listed in Schedule A 'Debenture Holders and Unsecured Creditors' - creditor named MAHA ENERGY INC. — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. | $1.37M | Notice of Receiver |
| 4 | Secured | Joyce Vallee & Acme SecuritiesDebenture — Listed in Schedule A debenture list — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. | $521K | Notice of Receiver |
| 4 | Secured | CrucibleDebenture — Listed in Schedule A debenture list — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. | $446K | Notice of Receiver |
| 4 | Secured | Hytop Well Servicing - Hot ToolsDebenture — Listed in Schedule A debenture list — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. | $217K | Notice of Receiver |
| 4 | Secured | Hytop Well Servicing - Monte JonesDebenture — Listed in Schedule A debenture list — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. | $175K | Notice of Receiver |
| 4 | Secured | Smartworks Oilfield MaintenanceDebenture — Listed in Schedule A debenture list — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. | $152K | Notice of Receiver |
| 4 | Secured | Pacific Oil CompanyDebenture — Listed in Schedule A debenture list — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. | $115K | Notice of Receiver |
| 4 | Secured | Pason Systems Corp. · in 4 casesSecurity on the Property — Book value in $000's per Form 87 table — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. | $18K | Notice of Receiver |
| 4 | Secured | Superior Propane, A Division of Superior Plus LPSecurity on the Property; amount owed unknown — Book value listed as 'Unknown' — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. · as of 11 Jun 2019 | — | Notice of Receiver |
| 4 | Secured | Chrome Diesel Repair Ltd.Security on the Property; amount owed unknown — Book value listed as 'Unknown' — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. · as of 11 Jun 2019 | — | Notice of Receiver |
| 4 | Secured | Alberta Energy Regulator · in 25 casesSecurity on the Property; amount owed unknown — Regulatory claim (AER) - book value listed as 'Unknown' — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. · as of 11 Jun 2019 | — | Notice of Receiver |
| 4 | Secured | Royal Bank of Canada · in 556 casesSecurity on the Property; amount owed unknown — Bank secured creditor - book value listed as 'Unknown' — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. · as of 11 Jun 2019 | — | Notice of Receiver |
| 4 | Secured | Ministry of Energy and Resources - Government of SaskatchewanSecurity on the Property; amount owed unknown — Regulatory claim - book value listed as 'Unknown' — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. · as of 11 Jun 2019 | — | Notice of Receiver |
| 4 | Secured | Petrocapita Income TrustSecurity on the Property; amount owed unknown — Possibly related party (parent trust) - book value listed as 'Unknown' — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. · as of 11 Jun 2019 | — | Notice of Receiver |
| 4 | Secured | 946981 Alberta Ltd.Security on the Property; amount owed unknown — Book value listed as 'Unknown' — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. · as of 11 Jun 2019 | — | Notice of Receiver |
| 4 | Secured | Can-World Finance ServicesSecurity on the Property; amount owed unknown — Book value listed as 'Unknown' — debtor: Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. · as of 11 Jun 2019 | — | Notice of Receiver |
| 8 | Unsecured | Unsecured creditors (aggregate as reported - POGLP entity) · in 532 casesGrand total shown as negative (7,235,957.55) representing sum of invoice balances for POGLP; underlying listing itemises approximately 350+ individual creditors across pages 4-12 (too numerous to list individually in this extraction structure per aggregate reporting convention, though document itself does itemise each - see itemised entries not reproduced due to volume; grand total taken from page 12) — debtor: Petrocapita Oil and Gas L.P. | $7.24M | Notice of Receiver |
| 8 | Unsecured | Unsecured creditors (aggregate as reported - Petro GP I Ltd. entity) · in 532 casesGrand total for Petro GP I Ltd entity; components include Alberta Energy Regulator (24,791.38 - regulatory), Government of Alberta (20.00), and The City of Calgary (113.73) — debtor: Petrocapita G.P. I Ltd. | $24.9K | Notice of Receiver |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Unsecured creditors: no distribution. County of Vermillion River paid in full.EstimatedApplication (re Distribution and Discharge) - FILED · 19 Jan 2021
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Preferred | County of Vermillion River | — | paid in full | Estimatedper the receiver | Fourth Report of the Receiver - FILED · 12 Jan 2021 |
| Preferred | Regional Municipality of Britannia | — | shortfall | Estimatedper the receiver | Fourth Report of the Receiver - FILED · 12 Jan 2021 |
| Preferred | Regional Municipality of Manitou Lake | — | shortfall | Estimatedper the receiver | Fourth Report of the Receiver - FILED · 12 Jan 2021 |
| Unsecured | Petrocapita's unsecured creditors | — | no distribution | Estimatedper the receiver | Application (re Distribution and Discharge) - FILED · 19 Jan 2021 |
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.
As at 31 Dec 2018 · per Book value based on internal and unaudited Company financial records as of December 31, 2018, except cash which is as of June 10, 2019; readers cautioned actual book and realizable values will differ as at receivership date · Petrocapita Oil and Gas L.P. and Petrocapita G.P. I Ltd. (combined/collective 'Company') — Asset breakdown: Cash $45k, Accounts receivable $290k, Inventory $370k, Prepaid expenses $1,391k, Property and equipment net $36,285k, Total $38,381k (in $000's). No total liabilities stated on these pages; secured creditor amounts largely 'Unknown'.
| Date | Document | File |
|---|---|---|
| Receivers completion certificate | ||
Service Letter (re Order - Approval of Distribution and Discharge of Receiver)
| ||
Application (re Distribution and Discharge) - FILED
| ||
Order (re Approving Distribution and Discharge of Receiver) - FILED (Jan 21)
| ||
Order (re Approving Distribution and Discharge of Receiver) - UNFILED
| ||
Fourth Report of the Receiver - FILED
| ||
Service Letter (re Filed Orders) August 18, 2020
| ||
| Receiver's Closing Certificate | ||
| Sale Approval and Vesting Order – FILED August 17, 2020 | ||
| Sealing Order (re Confidential Appendix to Receivers Third Report) | ||
| Third Report of the Receiver | ||
| Second Report of the Receiver | ||
Amended Consent Receivership Order
| ||
| Consent To Act | ||
| First Report of the Receiver | ||
Notice of Receiver
| ||
Receivership Order
| ||
| Affidavit of U. Pirija sworn on May 30, 2019 | ||
Receivership Application filed on May 28, 2019
| ||
| Affidavit of W. Kujat sworn on May 27, 2019 | ||
Amended Receivership Application filed on May 20, 2019
| ||
Application to Amend Consent Receivership Order
| ||
| First Interim Report of the Receiver | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Petrocapita Oil and Gas L.P., Petrocapita G.P. I Ltd., Petrocapita Processing L.P. and Petrocapita GP II Ltd.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/petrocapita-oil-and-gas-l-p-petrocapita-g-p-i-ltd-petrocapita-processing-l-p-and