On October 11, 2000, TransCanada PipeLines Limited (TransCanada) completed the sale of the natural gas liquids portion of its Midstream Business Operations to Williams Energy Canada Inc., a wholly-owned subsidiary of The Williams Companies, Inc. of Tulsa, Oklahoma, for $540 million plus closing adjustments. The purchase includes TransCanada’s interests in the Cochrane, Redwater, Empress II, Empress V and Younger natural gas liquids and extraction facilities and the West Stoddart natural gas processing plant. The assets represent about 6 billion cubic feet per day of gas processing capacity, about 225,000 barrels per day of natural gas liquid production capacity, a natural gas liquid pipeline system, and more than 5 million barrels of natural gas liquid storage capacity.
TransCanada’s internal legal services were headed by Al Bellstedt, Senior Vice-President Law and General Counsel. TransCanada’s internal legal project group was headed by Donna Friesen with the assistance of Craig Heschuk. TransCanada was represented externally by a legal team from Borden Ladner Gervais LLP’s Calgary office that included James Surbey, Marilyn Paterson, Frank Cahill, Brad Pierce, John Tyrrell, Jason Francoeur, Ed Wooldridge, Cora Miller, Shane Stevenson, Colin MacDonald (competition and Investment Canada) and Ross Freeman (tax).
Williams Energy Canada Inc.’s internal legal team consisted of Lonny Townsend and Cindy Lilly of Tulsa, Oklahoma. Williams Energy was represented externally by a legal team from Bennett Jones’ Calgary office consisting of Robert Desbarats, Ashley Evans, Shannon Young and Beth Riley.