Daniel E. Sears  

Partner

Executive Summary

Daniel Sears is a partner in our Financial Services Group in Calgary. His practice focuses on corporate finance and, in particular, banking, corporate lending, project finance, acquisition finance, structured finance and leasing.

Recent transactions have included major acquisition financings, private placements and cross-border financings and have included financings of oil sands projects, coalbed methane development, conventional oil and gas reserves, pipelines and power generating assets. Mr. Sears has acted as lead counsel for Crescent Point, Enbridge, Petrobank and TransAlta and has acted as lead counsel for the lenders to Nexen, Calfrac, Baytex, Trinidad Drilling and others, in each case in connection with their respective senior syndicated credit facilities.

Representative Work

Mr. Sears' expertise entails acting in credit transactions in a number of areas including term and operating facilities, acquisition and merger financing, project financing and debt restructurings, primarily for firms in the oil and gas and energy sectors. He also provides clients with advice on complex matters involving the Personal Property Security Act. His recent financing transactions include:

  • acting for the lenders to Nexen Inc. in connection with its US $3 billion syndicated credit facilities;
  • acting as lead counsel for TransAlta Corporation in connection with its $2 billion syndicated credit facilities;
  • acting as lead counsel for PetroBakken in connection with its $1 billion syndicated credit facility;
  • acting for the lenders to Potash Corporation of Saskatchewan Inc. in connection with its $1.75 billion syndicated credit facilities;
  • acting as lead counsel for Enbridge Inc. in connection with its US $250 million bilateral senior credit facility;
  • acting for Enbridge Inc. in connection with its $2 billion syndicated credit facilities;
  • acting as lead counsel to Petrobank Energy and Resources Ltd. in connection with its $300 million senior secured syndicated credit facilities;
  • acting as lead counsel to PetroBakken Energy Ltd. in connection with its $1.05 billion senior secured syndicated credit facilities, including in connection with a fully underwritten acquisition facility used in the take-over of TriStar Oil & Gas;
  • acting as lead counsel to Storm Exploration Inc. in connection with its $115 million senior secured credit facilities;
  • acting as lead counsel to Crescent Point Energy Corp. in connection with its $1.2 billion senior secured syndicated credit facilities;
  • acting as lead counsel for the lenders to Calfrac Well Services Ltd. in connection with its $135 million senior secured syndicated credit facilities, including in connection with a fully underwritten acquisition facility;
  • acting for Fording Canadian Coal Trust and Elk Valley Coal Partnership in connection with their $1 billion syndicated credit facilities;
  • acting as local lead counsel for the lenders to an oil and gas services company in connection with its US $100 million credit facilities;
  • acting as lead counsel for lenders to Baytex Energy Trust in connection with its $490 million senior secured credit facilities;
  • acting as lead counsel for numerous mid-market oil and gas firms in connection with various demand and borrowing base credit facilities in the $15-50 million range;
  • acting for an oil and gas issuer in connection with a US $60 million U.S. Note Offering;
  • acting as lead counsel for TransAlta Corporation in connection with a $90 million surety bond;
  • acting for the lenders to Sound Energy Trust in connection with its $135 million syndicated secured borrowing base operating facility; and
  • acting for Oilexco Incorporated and Oilexco North Sea Limited in connection with the latter's U.S. $1 billion secured syndicated credit facilities.

Publications & Presentations

  • Co-Author, “Demand Obligations — Divergences in Provincial Limitation and Prescription Periods,” August, 2010.

Rankings & Recognitions

  • Selected by peers for inclusion in the 2015 to 2018 editions of The Best Lawyers in Canada® (Banking and Finance Law).
  • Recognized in the 2015 edition of the Legal 500 Canada (Banking & Finance).
  • Recognized in the 2015 and 2013 editions of the Canadian Legal Lexpert® Directory (Asset Securitization and Asset-Based Lending).