Alberta · Receivership (court-appointed)
RECEIVER’S FIRST REPORT Filed July 4,2025
Court officer report · 4 July 2025
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing17 verified
- unsecured creditorsnote: Regulatory; estimate ('approximately $12.7 million'). BCER drew the sole letter of credit security deposit of $3,937,244 on March 28, 2025 against this. May overlap with the $54.4 million Environmental Liability figure — the report does not say. · page: 8 · as of: 2025-03-28 · basis: Estimated total liability associated with 61 wells, ten facilities and 81 pipeline segments orphaned by the BCER · amount: 12700000 · debtor: Erikson National Energy Inc. · creditor: British Columbia Energy Regulator — Orphaned Sites liability · currency: CAD
- secured creditorsnote: Stated as the amount of the charge ('a charge in the amount of $2.75 million'), not a confirmed outstanding balance. · page: 10 · as of: CCAA Termination Order (May 5, 2025) · amount: 2750000 · debtor: Erikson National Energy Inc. · creditor: Third Eye Capital Corporation (Interim Lender) · currency: CAD · security: Charge under the CCAA Termination Order for amounts advanced to fund the NOI and CCAA proceedings
- secured creditorsnote: Borrowed by the Receiver post-receivership to safeguard assets and fund administration; the $1.5 million figure is the authorized maximum, not a balance. · page: 10 · as of: July 4, 2025 (date of report) · amount: 635281 · debtor: Erikson National Energy Inc. · creditor: British Columbia Energy Regulator (Receiver's Borrowing Charge) · currency: CAD · security: Receiver's Borrowing Charge — second priority fixed and specific charge; authorized up to $1.5 million
- unsecured creditorsnote: Regulatory levy; priority claim per the report. Date not stated. · page: 10 · basis: Unpaid regulatory levy as known to the Receiver · amount: 47824 · debtor: Erikson National Energy Inc. · creditor: British Columbia Energy Regulator — Pipeline Levy fiscal 2023/2024 · currency: CAD
- unsecured creditorsnote: Preferred (priority) wage claim; 'approximately $14,000' and expected, not yet determined. · page: 10 · basis: Anticipated subrogated priority claim under BIA s. 81.4 / WEPP · amount: 14000 · debtor: Erikson National Energy Inc. · creditor: Service Canada / WEPP (subrogated employee wage claim) · currency: CAD
- unsecured creditorsnote: Regulatory environmental liability, not a conventional debt; the Receiver states the full amount is owed to the BCER. No claims process conducted. · page: 10 · as of: 2024-10-02 · basis: Receiver's understanding; listed under 'Priority Claims'; regulatory quasi-debt · amount: 54400000 · debtor: Erikson National Energy Inc. · creditor: British Columbia Energy Regulator — Environmental Liability (dormant, inactive and marginal) · currency: CAD
- unsecured creditorsnote: Regulatory levy; priority claim per the report. Date not stated. · page: 10 · basis: Unpaid regulatory levy as known to the Receiver · amount: 339730 · debtor: Erikson National Energy Inc. · creditor: British Columbia Energy Regulator — Orphan Site Restoration Levy fiscal 2024/2025 · currency: CAD
- unsecured creditorsnote: Regulatory levy; priority claim per the report. Date not stated. · page: 10 · basis: Unpaid regulatory levy as known to the Receiver · amount: 1647 · debtor: Erikson National Energy Inc. · creditor: British Columbia Energy Regulator — Production Levy · currency: CAD
- secured creditorsnote: Stated as 'approximately $31.7 million'. Separate from the Interim Lender's charge. · page: 11 · as of: Receivership Date (May 5, 2025) · amount: 31700000 · debtor: Erikson National Energy Inc. · creditor: Third Eye Capital Alternative Credit Trust, Ninepoint-TEC Private Credit Fund, and MBI/TEC Private Debt Opportunities Fund II, L.P. (the Lenders; TEC as agent) · currency: CAD · security: Security agreement dated October 15, 2019 under the TEC Credit Agreement dated October 15, 2019 (working capital loans)
- secured creditorsnote: Amount not stated; registered security interest only. · page: 11 · debtor: Erikson National Energy Inc. · creditor: Canadian Natural Resources, A General Partnership · currency: CAD · security: Various PPR registrations (Alberta/BC) pertaining to Operating Agreements for a subset of wells and related infrastructure
- secured creditorsnote: Amount not stated; registered security interest only. · page: 11 · debtor: Erikson National Energy Inc. · creditor: ATB Financial · currency: CAD · security: Various PPR registrations over certain accounts
- secured creditorsnote: Amount not stated; registered security interest only. · page: 11 · debtor: Erikson National Energy Inc. · creditor: Calmont Leasing Ltd. · currency: CAD · security: Various PPR registrations related to vehicle leases
- unsecured creditorsnote: Approximate; municipal property taxes. Part of the $28.34 million remaining-creditor total. Treated in the PSA as a claim/encumbrance to be vested off. · page: 11 · as of: Receivership Date (May 5, 2025) · basis: Receiver's understanding of claims of remaining creditors; no claims process conducted · amount: 5630000 · debtor: Erikson National Energy Inc. · creditor: Northern Rockies Regional Municipality (municipal property taxes) · currency: CAD
- unsecured creditorsnote: Aggregate only; no individual creditors named. Part of the approximately $28.34 million total for creditors not otherwise discussed. · page: 11 · as of: Receivership Date (May 5, 2025) · basis: Receiver's understanding; no claims process conducted · amount: 17020000 · debtor: Erikson National Energy Inc. · creditor: Various other creditors (aggregate) · currency: CAD
- unsecured creditorsnote: Approximate ('approximately $5.69 million'); part of the $28.34 million remaining-creditor total. The report does not say whether this overlaps with the BCER amounts above. · page: 11 · as of: Receivership Date (May 5, 2025) · basis: Receiver's understanding of claims of remaining creditors; no claims process conducted · amount: 5690000 · debtor: Erikson National Energy Inc. · creditor: Various branches of the Government of British Columbia · currency: CAD
- purchaserWildboy Holdings Ltd.
- sale outcometext: Receiver seeks court approval of the proposed Transaction with Wildboy Holdings Ltd. for the sale of certain oil and gas assets. · scope: whole_business · status: pending_approval