NAEP Completes IPO

North American Energy Partners Inc. (NAEP) and certain selling shareholders completed a cross-border initial public offering and a secondary offering of common shares for gross proceeds of approximately $255 million on November 28, 2006. The shares of NAEP are listed on the New York Stock Exchange and the Toronto Stock Exchange.

The offering was underwritten by a syndicate of underwriters consisting of Credit Suisse Securities (USA) LLC, UBS Securities LLC, Jeffries & Company, Inc., CIBC World Markets Corp., Simmons & Company International, Stephens Inc., Peters & Co. Limited and the Canadian affiliates of certain of the underwriters.

NAEP is one of the largest providers of mining and site preparation, piling and pipeline services in western Canada.

Borden Ladner Gervais LLP provided the external legal advice to NAEP with respect to matters of Canadian law with a team that included Frank Callaghan, Philippe Tardif, Gordon Raman, Larissa Tkachenko, Emma Miller, Terence Lui, Habeeb Syed and Kinga Grudzinski and matters with respect to US law were provided by Bracewell & Giuliani LLP with a team that included Gary Orloff, Troy Harder and Shanna Kuzdzal.

The underwriters were represented by Cravath, Swaine & Moore LLP in New York with a team including Kris Heinzelman, Rene Paula-Molina and Melanie Lee and Bennett Jones LLP in Calgary with a team including David Spencer and Kahlan Mills.


Kahlan K. Mills Larissa V. Tkachenko Gordon G. Raman Terence K. Lui Frank S. Callaghan David A. Spencer Philippe Tardif