Valhalla sour gas plant; photo courtesy Tridyne Projects Corp.

By Erika Rolling

Energy

KANATA Energy Group fully acquired by Calgary-based CSV Midstream Solutions

Feb 14, 2023 | 12:32 PM

Two gas plants near Grande Prairie are now under Calgary-based CSV Midstream Solutions Corp after completing the acquisition of KANATA Energy Group.

The midstream infrastructure that has been transferred over to CSV includes majority-operated natural gas gathering and processing facilities in Valhalla and Simonette, known to be in the heart of the Western Canadian Sedimentary Basin.

CSV’s already owns three natural gas assets in the Grande Prairie region: Resthaven Gas Proccessing facility 80 km northeast of Grande Cache, South Pipestone Compressor Station and Liquids Processing Facility 40 km southwest of Grande Prairie, and Karr Gas Plant 60 km south of Grande Prairie.

A proposed sour gas processing project called Albright is also in the works by the Company and will be located northwest of Grande Prairie in the Valhalla area.

The KANATA assets adds over 150 million cubic square feet per day net processing capacity to CSV, which their currently forecasted at a capacity of 470 cubic square feet per day.

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CSV’s President, Rick Staples said in a news release on february 14, 2023; “Today’s announcement reinforces the continued application of CSV’s disciplined growth strategy. The Valhalla and Simonette gas plants consolidate our presence in the prolific Montney, Charlie Lake, and Spirit River plays in northwestern Alberta, allowing CSV to provide reliable midstream services to our new partners and an increasing array of producers in this active corridor.”

The KANATA team has also been acquired through the transfer according to the Company’s CEO Daniel Clarke. He said in the same news release; “We have a great deal of respect for what the KANATA team accomplished through a very challenging decade in the energy sector. This strategic acquisition will strengthen CSV’s position as a reliable and trusted service provider by broadening our portfolio of assets and expanding our customer base.”

CSV was advised by National Bank Financial Inc. and Bennett Jones LLP.