Second Wave Petroleum Inc
FollowActive
- Proceeding
- ProposalThe Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, sections 54, 56, 58, 59, 61
Filings held19
Last activity5 Oct 2017
On the record3,370 days
Secured debt$36.1M
OverviewSummary updated
Second Wave Petroleum Inc. is the subject of active insolvency proceedings in the Court of King's Bench of Alberta, in which Ernst & Young Inc. acts in its capacity as Trustee in Bankruptcy of the company and has advanced an application under Rules 6.3(1), 6.9(1) and 6.28 to 6.36 of the Alberta Rules of Court. The Statement of Affairs (Form 78), sworn by Dean Schultz as at June 30, 2017, reports assets of $13,789,460.50 against liabilities of $66,336,045.11 and a stated deficiency of $52,546,584.61, with no preferred creditors and no contingent or trust claims. Brookfield Private Equity Direct Investments Holdings LP dominates the creditor body, listed for a $36,148,410.50 balance of secured claims plus $14,333,015.00 unsecured; the largest remaining claim is Crescent Point Resources Partnership's $848,455.43.
Claims processIf you are owed money
A claims procedure has been established — see the order for deadlines.
Proceedings AIAsk this case — answers cite the filings
Case updates19 dated entries
#Sale
The court granted an approval and vesting order for the sale to Crescent Point Resources Partnership. Closing terms, as extracted: Vesting is effective upon delivery of the Trustee's Certificate confirming payment of the Purchase Price and satisfaction of closing conditions.
Parties
Debtor
Second Wave Petroleum Inc
Proposal trustee
EY
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Brookfield Private Equity Direct Investments Holdings LP (Attn: Ryan Szainwald)Listed as 'Balance of secured claims' per List B, entry 31; same creditor also appears as an unsecured claimant of $14,333,015.00 (entry 32) - possible bifurcated secured/unsecured claim by same party; related-party status not stated but note relationship possibility — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $36.1M | Creditors Package |
| 8 | Unsecured | Brookfield Private Equity Direct Investments Holdings LP (Attn: Ryan Szainwald)same creditor also holds secured claim of $36,148,410.50 (List B) - claim bifurcated secured/unsecured — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $14.3M | Creditors Package |
| 8 | Unsecured | Crescent Point Resources Partnership · in 5 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $848K | Creditors Package |
| 8 | Unsecured | R.M. of Reno No. 51municipal — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $99.7K | Creditors Package |
| 8 | Unsecured | Blue Ridge Lumber Inc. · in 3 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $81.2K | Creditors Package |
| 8 | Unsecured | Enerflex Ltd Rentalsdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $63K | Creditors Package |
| 8 | Unsecured | Compass Compressiondebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $53.3K | Creditors Package |
| 8 | Unsecured | Deloitte LLP · in 30 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $43K | Creditors Package |
| 8 | Unsecured | ConocoPhillips Canada Resources Corp. · in 3 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $42.2K | Creditors Package |
| 8 | Unsecured | Happy Valley Farms Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $40.8K | Creditors Package |
| 8 | Unsecured | Husky Oil Operations Ltddebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $35.3K | Creditors Package |
| 8 | Unsecured | Quadra Chemicals Ltd. · in 7 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $32.1K | Creditors Package |
| 8 | Unsecured | K.M.C. Oilfield Maintenance Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $29.4K | Creditors Package |
| 8 | Unsecured | IHS Global Canada Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $28.3K | Creditors Package |
| 8 | Unsecured | Pengrowth Corporation · in 4 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $27.9K | Creditors Package |
| 8 | Unsecured | Carlan Services Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $24.4K | Creditors Package |
| 8 | Unsecured | Pengrowth Corporation · in 4 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $23.6K | Creditors Package |
| 8 | Unsecured | Richbar Resources Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $23K | Creditors Package |
| 8 | Unsecured | Max Fuel Dist. (1998) Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $17.7K | Creditors Package |
| 8 | Unsecured | Minister of Finance (AB) · in 71 casesgovernment creditor - Alberta Energy — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $16.4K | Creditors Package |
| 8 | Unsecured | Minister of Finance (AB) · in 71 casesgovernment creditor - Sustainable Resource Development — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $12.6K | Creditors Package |
| 8 | Unsecured | Ridgeline Canada Inc.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $11.3K | Creditors Package |
| 8 | Unsecured | PowerVision Software Inc.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $9.94K | Creditors Package |
| 8 | Unsecured | Foremost Universal LP · in 2 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $9.78K | Creditors Package |
| 8 | Unsecured | Iron Mountain Canada Corporation · in 12 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $9.73K | Creditors Package |
| 8 | Unsecured | John C Marshindividual creditor — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $9.24K | Creditors Package |
| 8 | Unsecured | Saddle Hills County · in 3 casesmunicipal — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $9.21K | Creditors Package |
| 8 | Unsecured | Baron Oilfield Supply A Partnership of Corps.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $8.78K | Creditors Package |
| 8 | Unsecured | Konica Minolta Business Solutions (Canada) Ltd. · in 30 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $8.53K | Creditors Package |
| 8 | Unsecured | Minister of Finance (SK) · in 71 casesgovernment creditor — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $7.95K | Creditors Package |
| 8 | Unsecured | ConocoPhillips Canada Energy Partnership · in 2 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $7.63K | Creditors Package |
| 8 | Unsecured | Horst & Marga Brammindividual creditors — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $6.73K | Creditors Package |
| 8 | Unsecured | Gibson Energy Partnership · in 5 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $6.27K | Creditors Package |
| 8 | Unsecured | Paramount Resources Ltd. · in 7 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $5.86K | Creditors Package |
| 8 | Unsecured | Chinook Energy Partnership (see Chinook Energy Inc.)debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $5.75K | Creditors Package |
| 8 | Unsecured | Northwell Oilfield Hauling (09) Inc. · in 7 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $5.75K | Creditors Package |
| 8 | Unsecured | Alfred Leonard Metzkerdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $4.94K | Creditors Package |
| 8 | Unsecured | Pace Industrial Inc.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $4.89K | Creditors Package |
| 8 | Unsecured | Saskatchewan Energy and Resources · in 2 casesgovernment creditor — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $4.87K | Creditors Package |
| 8 | Unsecured | Minister of Finance (SK) · in 71 casesgovernment creditor — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $4.84K | Creditors Package |
| 8 | Unsecured | ATCO Pipelinesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $4.57K | Creditors Package |
| 8 | Unsecured | Alberta Boilers Safety Association · in 9 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $4.44K | Creditors Package |
| 8 | Unsecured | Data Scavenger Inc. · in 6 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $4.3K | Creditors Package |
| 8 | Unsecured | Richard and Diana Wolfindividual creditors — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $4.1K | Creditors Package |
| 8 | Unsecured | Marsha Willard, Executrix for the Estate of Edith Willardestate/individual claim — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $4K | Creditors Package |
| 8 | Unsecured | Bluewave Energy · in 20 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $3.88K | Creditors Package |
| 8 | Unsecured | 1273150 Alberta Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $3.72K | Creditors Package |
| 8 | Unsecured | Purechem Services · in 10 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $3.69K | Creditors Package |
| 8 | Unsecured | Kestrel Data (Canada) Limiteddebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $3.64K | Creditors Package |
| 8 | Unsecured | Froggy's Environmental Services Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $3.61K | Creditors Package |
| 8 | Unsecured | Alberta Governor Service Inc.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $3.41K | Creditors Package |
| 8 | Unsecured | Premier Integrated Technologiesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $3.04K | Creditors Package |
| 8 | Unsecured | Glenbriar Technologies Inc.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $2.98K | Creditors Package |
| 8 | Unsecured | Grizzly Electric & Instrumentation Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $2.9K | Creditors Package |
| 8 | Unsecured | AGAT Laboratories · in 12 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $2.71K | Creditors Package |
| 8 | Unsecured | Pandell Technology Corporation · in 14 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $2.7K | Creditors Package |
| 8 | Unsecured | 921071 Alberta Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $2.63K | Creditors Package |
| 8 | Unsecured | Saskatchewan Agriculture and Foodgovernment creditor — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $2.56K | Creditors Package |
| 8 | Unsecured | Edward and Diana Nickelindividual creditors — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $2.5K | Creditors Package |
| 8 | Unsecured | Curtis F. Veselyindividual creditor — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $2.5K | Creditors Package |
| 8 | Unsecured | CriticalControl Energy Services Inc.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $2.44K | Creditors Package |
| 8 | Unsecured | Crescent Point Resources Partnership · in 5 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $2.4K | Creditors Package |
| 8 | Unsecured | Clare Backman & Carol Backmanindividual creditors — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $2.35K | Creditors Package |
| 8 | Unsecured | Holmen Instrumentation Services Inc.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $2.33K | Creditors Package |
| 8 | Unsecured | Apache Canada Ltd. · in 5 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $2.19K | Creditors Package |
| 8 | Unsecured | S.S. Applied Lease Maintenance Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $2.12K | Creditors Package |
| 8 | Unsecured | 1210775 Alberta Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $2.05K | Creditors Package |
| 8 | Unsecured | Don John Conrad and Lois Elaine Conradindividual creditors — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $2K | Creditors Package |
| 8 | Unsecured | Blair Manteiindividual creditor — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $1.93K | Creditors Package |
| 8 | Unsecured | P2 Energy Solutions Alberta ULC · in 9 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $1.81K | Creditors Package |
| 8 | Unsecured | Rockwater Energy Solutions Canada Inc.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $1.65K | Creditors Package |
| 8 | Unsecured | Canadian Natural Resources Limited · in 13 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $1.59K | Creditors Package |
| 8 | Unsecured | Baker Hughes · in 5 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $1.57K | Creditors Package |
| 8 | Unsecured | Paul Flasha Contracting Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $1.49K | Creditors Package |
| 8 | Unsecured | Bell Canada · in 298 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $1.45K | Creditors Package |
| 8 | Unsecured | Enerplus Corporation · in 8 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $1.34K | Creditors Package |
| 8 | Unsecured | Cortex Business Solutions Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $1.31K | Creditors Package |
| 8 | Unsecured | Nash Steamer Vac Services Ltd. · in 3 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $1.24K | Creditors Package |
| 8 | Unsecured | Bow Valley Leaseholds Limited · in 2 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $1.16K | Creditors Package |
| 8 | Unsecured | Lo Cost Propanedebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $1.16K | Creditors Package |
| 8 | Unsecured | Petrus Resources Ltd. · in 2 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $1.16K | Creditors Package |
| 8 | Unsecured | Alberta Answering Service Inc.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $1.16K | Creditors Package |
| 8 | Unsecured | CGI Information Systems and Management Consultants Inc.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $1.1K | Creditors Package |
| 8 | Unsecured | On-Line Operating Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $945 | Creditors Package |
| 8 | Unsecured | Flagstaff County · in 4 casesmunicipal — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $882 | Creditors Package |
| 8 | Unsecured | Anterra Energy Inc. · in 2 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $855 | Creditors Package |
| 8 | Unsecured | Chrisnick Oilfield Services Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $788 | Creditors Package |
| 8 | Unsecured | Marlin Oilfield Services Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $782 | Creditors Package |
| 8 | Unsecured | Robertson's Oilfield Service Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $751 | Creditors Package |
| 8 | Unsecured | GFL Environmental Inc · in 25 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $740 | Creditors Package |
| 8 | Unsecured | Complete Vegetation Controldebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $718 | Creditors Package |
| 8 | Unsecured | Jaron Water Hauling Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $700 | Creditors Package |
| 8 | Unsecured | OfficeStuff Inc. · in 2 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $679 | Creditors Package |
| 8 | Unsecured | Brad's Picker Services Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $630 | Creditors Package |
| 8 | Unsecured | Guye's Backhoe Service Inc.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $615 | Creditors Package |
| 8 | Unsecured | MRC Canada ULC · in 6 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $577 | Creditors Package |
| 8 | Unsecured | Pine Ridge Supply Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $555 | Creditors Package |
| 8 | Unsecured | Continental Imaging Products · in 3 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $547 | Creditors Package |
| 8 | Unsecured | Receiver General (Canada Customs and Revenue Agency) · in 75 casesgovernment/CRA creditor — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $522 | Creditors Package |
| 8 | Unsecured | Dan Kilbreathindividual creditor — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $516 | Creditors Package |
| 8 | Unsecured | Canadian Natural Resources Limited · in 13 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $506 | Creditors Package |
| 8 | Unsecured | Nuvista Energydebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $472 | Creditors Package |
| 8 | Unsecured | Ralcomm Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $452 | Creditors Package |
| 8 | Unsecured | Area III Environment Response Unitdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $450 | Creditors Package |
| 8 | Unsecured | Kelt Exploration Ltddebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $429 | Creditors Package |
| 8 | Unsecured | Perpetual Energy Operating Corp. (as trustee for Perpetual Operating Trust)debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $427 | Creditors Package |
| 8 | Unsecured | R.M. of Cambria No. 6municipal — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $383 | Creditors Package |
| 8 | Unsecured | Journey Energy Partnership · in 2 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $350 | Creditors Package |
| 8 | Unsecured | Sanling Energy Ltd. · in 3 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $336 | Creditors Package |
| 8 | Unsecured | Canadian Tubular Services Inc. · in 2 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $324 | Creditors Package |
| 8 | Unsecured | ConocoPhillips Canada Energy Partnership · in 2 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $324 | Creditors Package |
| 8 | Unsecured | Air Liquide Canada Inc. · in 78 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $321 | Creditors Package |
| 8 | Unsecured | Base Engineering & Associatesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $315 | Creditors Package |
| 8 | Unsecured | Shock Trauma Air Rescue Society · in 3 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $305 | Creditors Package |
| 8 | Unsecured | Apache Canada Ltd. · in 5 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $289 | Creditors Package |
| 8 | Unsecured | Pitney Bowes Global Credit Services · in 5 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $265 | Creditors Package |
| 8 | Unsecured | MFC Energy Corporationdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $252 | Creditors Package |
| 8 | Unsecured | Coastal Resources Limited · in 2 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $226 | Creditors Package |
| 8 | Unsecured | Paris Gagneindividual creditor — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $200 | Creditors Package |
| 8 | Unsecured | Contain Enviro Services Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $194 | Creditors Package |
| 8 | Unsecured | Oil & Gas Index · in 2 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $188 | Creditors Package |
| 8 | Unsecured | Kaiser Exploration Ltd. · in 2 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $183 | Creditors Package |
| 8 | Unsecured | Long Run Exploration Ltd. · in 8 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $136 | Creditors Package |
| 8 | Unsecured | Alberta Energy Regulator · in 25 casesregulatory creditor — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $132 | Creditors Package |
| 8 | Unsecured | Lexus Resources Ltddebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $123 | Creditors Package |
| 8 | Unsecured | Archean Energy Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $110 | Creditors Package |
| 8 | Unsecured | Long Run Exploration Ltd. · in 8 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $101 | Creditors Package |
| 8 | Unsecured | Long Run Exploration Ltd. · in 8 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $90 | Creditors Package |
| 8 | Unsecured | Apache Canada Ltd. · in 5 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $84 | Creditors Package |
| 8 | Unsecured | Prairie Provident Resources Canada Ltd. · in 2 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $63 | Creditors Package |
| 8 | Unsecured | Insignia Energy Ltd. · in 3 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $56 | Creditors Package |
| 8 | Unsecured | Nuvista Energydebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $50 | Creditors Package |
| 8 | Unsecured | Coral Hill Energy ULCdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $45 | Creditors Package |
| 8 | Unsecured | SaskEnergy · in 6 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $41 | Creditors Package |
| 8 | Unsecured | Caledonian Royalty Corporation (Prev Lario Oil&Gas) · in 2 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $36 | Creditors Package |
| 8 | Unsecured | Houston Oil & Gas Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $19 | Creditors Package |
| 8 | Unsecured | 990009 Alberta Inc.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $11 | Creditors Package |
| 8 | Unsecured | Bounty Developments Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $8 | Creditors Package |
| 8 | Unsecured | Caledonian Royalty Corporation (Prev Lario Oil&Gas) · in 2 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $8 | Creditors Package |
| 8 | Unsecured | Cequence Energy Ltd. (Prev Sabretooth) · in 2 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $5 | Creditors Package |
| 8 | Unsecured | Bergman, Randyindividual creditor — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $0 | Creditors Package |
| 8 | Unsecured | Bow Valley Leaseholds Limited · in 2 casesdebtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $0 | Creditors Package |
| 8 | Unsecured | Kilbreath, Danindividual creditor — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $0 | Creditors Package |
| 8 | Unsecured | Hibbs, Douglasindividual creditor — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $0 | Creditors Package |
| 8 | Unsecured | Eckert's Welding and Maintenance Ltd.debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $0 | Creditors Package |
| 8 | Unsecured | Minister of Energygovernment creditor — debtor: Second Wave Petroleum Inc. · as of 30 Jun 2017 | $0 | Creditors Package |
Sale processAs stated in the filings
2 transactions · 1 approved · 1 closed — The Swan Hills PSA was approved by an Order of the Court of Queen's Bench of Alberta dated September 5, 2017 and is scheduled to close on September 7, 2017.Preliminary Report of the Trustee on the Proposal · 11 Sep 2017
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Crescent Point Resources Partnershipthe Debtor's right, title and Interest in and to the assets described in the Saie Agreement as the Assets (the Purchased Assets) · asset sale · agreement 20 Jun 2017 | not stated | Approved5 Sep 2017 | Order - CPRP Sale Approval and Vesting |
| Crescent Point Resources PartnershipSWP's oil and gas interests, including proprietary seismic, in the Swan Hills Assets · asset sale · agreement 17 Aug 2017 | not statedcash payment plus a $600,000 reduction of CPG's claim against SWP | Closed7 Sep 2017 | Preliminary Report of the Trustee on the… |
Closing termsVesting is effective upon delivery of the Trustee's Certificate confirming payment of the Purchase Price and satisfaction of closing conditionsOrder - CPRP Sale Approval and Vesting
RecoveriesAs stated in the filings
Unsecured creditors: a distribution. Brookfield Private Equity no distribution.Under the plan · sanctionedPreliminary Report of the Trustee on the Proposal · 7 Sep 2017
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | unsecured creditors with proven claims | — | a distributionconditional | Under the plansanctionedper the trustee | Preliminary Report of the Trustee on the Proposal · 7 Sep 2017 |
| Equity | Brookfield Private Equity | — | no distribution | Under the plansanctionedper the trustee | Preliminary Report of the Trustee on the Proposal · 7 Sep 2017 |
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.
Estate financialsReported figures — never derived
Total assets at filing$13.8M
Total liabilities at filing$66.3M
As at 30 Jun 2017 · per Statement of Affairs (Form 78), as stated and estimated by the officer (bankrupt), sworn by Dean Schultz · Second Wave Petroleum Inc. (single entity, bankrupt debtor) — Deficiency of $52,546,584.61 stated. Total unsecured creditors per Statement of Affairs = $52,546,584.61 (comprised of $16,398,174.11 unsecured creditors per List A plus $36,148,410.50 balance of secured claims per List B); Secured creditors per List B = $13,789,460.50; Preferred creditors = $0.00; Contingent/trust claims = $0.00
Documents
19 filings
| Date | Document | File |
|---|---|---|
Order - Approve Second Wave Petroleum BIA Proposal, filed
| ||
Application, filed
| ||
Preliminary Report of the Trustee, filed
| ||
| Trustee Report on Second Wave Proposal, filed | ||
| Proof of Claim Form | ||
| Claim and Voting Instruction Notice | ||
| Notice of Proposal to Creditors | ||
Preliminary Report of the Trustee on the Proposal
| ||
| Proxy | ||
| Voting Letter | ||
Order - CPRP Sale Approval and Vesting
| ||
Application (filed )
| ||
First Report of the Trustee (filed )
| ||
| Service Letter to Counsel | ||
| Trustee's Preliminary Report (filed ) | ||
Report on the Trustee's Preliminary Administration
| ||
Creditors Package
| ||
| Second Wave- Proof of Claim and Instructions | ||
| Second Wave- Proxy | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Second Wave Petroleum Inc” (Proposal), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/second-wave-petroleum-inc