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Nancy D. Smith

Partner

403.260.0124
nsmith@bdplaw.com
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Education:

Dalhousie University, Bachelor of Laws, 2004 Dalhousie University, Bachelor of Arts, Political Science, 2001 Bar admission: Alberta 2005

Industries:

Agribusiness, food and beverage, Financial services, Oil and gas, Power, Start-up and early-stage companies, Technology

Practice areas:

Banking and finance, Project finance

Experience

Nancy's focus is on:

Syndicated and bilateral financings for both lenders and borrowers
Secured and unsecured lending transactions
U.S. and international financings
Convertible debenture and private placement note offerings for the issuer
ISDA Master Agreement Transactions

Professional involvement

Professional associations

Member, Law Society of Alberta
Member, Canadian Bar Association
Member, Calgary Bar Association

Volunteer Work

Board Member, Missing Children Society of Canada

Representative work

ARC Resources $1 billion private placement offering

Counsel to ARC Resources Ltd. in its private placement offering of C$1.0 billion aggregate principal amount of senior unsecured notes and $500 million term loan.

Senior unsecured notes

Counsel to Whitecap Resources Inc. in connection with its inaugural offering of investment grade Cdn.$400 million aggregate principal amount of senior unsecured notes

Unsecured covenant-based credit facility

Counsel to Whitecap Resources Inc. in connection with its new investment grade $2 billion unsecured covenant-based credit facility with a syndicate of banks

$160 million of senior secured notes

Counsel to Peyto Exploration & Development Corp. in connection with the issuance of Cdn. $160 million of senior secured notes and Cdn. $1.174 billion aggregate credit facilities with a syndicate of Canadian and international banks in connection with Peyto's acquisition of Repsol Canada Energy Partnership

US$800 million unsecured notes

Counsel to Baytex Energy Corp. in connection with its US$800 million private placement of senior unsecured notes and its in connection with its US$800 million private placement of senior unsecured notes.

$4 billion term loan

Counsel to a syndicate of lenders, led by The Bank of Nova Scotia, as administrative agent, in connection with a Cdn.$4 billion term loan provided to Canadian Natural Resources Limited in connection with its acquisition of assets from Chevron Canada Limited.

ARC Resources Senior Unsecured Notes

Counsel to ARC Resources Ltd. on its $1 billion private placement of an aggregate principal amount of senior unsecured notes.

ARC Resources $1.68 billion aggregate credit facilities

Counsel to ARC Resources Ltd. in connection with its Cdn. $1.68 billion aggregate credit facilities with a syndicate of Canadian and international banks

Lucero Energy Corp. acquisition of Lucero by Vitesse Energy

Counsel to Lucero Energy Corp. in the acquisition of Lucero by Vitesse Energy, Inc. pursuant to a plan of arrangement under the provisions of the Business Corporations Act (Alberta) whereby each share of Lucero was exchanged for 0.01239 of a share of Vitesse common stock, representing a transaction value of US$222 million (C$315 million).

Cardinal Energy $45 million senior subordinated unsecured debentures

Counsel to Cardinal Energy in its offering of $45 million aggregate principal amount of 8.25% senior subordinated unsecured debentures with a syndicate of underwriters co-led by CIBC Capital Markets, RBC Capital Markets and ATB Capital Markets, with CIBC Capital Markets and RBC Capital Markets acting as joint-bookrunners, and including BMO Capital Markets, Peters & Co. Limited, Canaccord Genuity Corp. and Raymond James Ltd.

Cardinal Energy $60 million unit offering

Counsel to Cardinal Energy in its $60 million unit offering with a syndicate of underwriters led by CIBC Capital Markets and including ATB Securities Inc., RBC Capital Markets., BMO Capital Markets, Peters & Co. Limited, Canaccord Genuity Corp., iA Private Wealth Inc., Raymond James Ltd. and Haywood Securities Inc. Each unit was comprised of one 7.75% senior subordinated unsecured debenture and 65 common share purchase warrants.

Topaz Energy's $700 million credit facility

Counsel Topaz Energy in respect of its $700 million senior unsecured credit facility with a syndicate of banks led by a major Canadian bank

Whitecap Resources Inc.'s $2.705 billion credit facility

Counsel to Whitecap Resources Inc. in its $2.705 billion senior secured credit facilities with a syndicate of Canadian, U.S., and international banks in connection with the acquisition by Whitecap Resources Inc. of XTO Energy Canada.

Railway company's $2.2 billion credit facility

Counsel to a syndicate of lenders in connection with a $2.2 billion revolving credit facility provided to a North American railway company.

Pipeline company's $1.5 billion credit facility

Counsel to a syndicate of lenders in connection with a $1.5 billion revolving credit facility provided to a North American midstream oil and gas company.

Tourmaline Oil's investment grade credit facility

Counsel Tourmaline Oil in respect of its investment grade credit facility with a syndicate of banks led by a major Canadian bank

ARC Resources Ltd.'s $8.1 billion combination

Counsel to ARC Resources Ltd. in its $8.1 billion strategic Montney combination with Seven Generations Energy, resulting in ARC becoming Canada's largest condensate producer, third-largest natural gas producer and sixth-largest upstream energy company.

Hammerhead Resources' $350 million credit facility

Counsel to Hammerhead Resources ULC in respect of a borrowing base Cdn. $350 million credit facility with a syndicate of Canadian banks in connection with the business combination with a special purpose acquisition company to become publicly listed in Canada and the United States.

NuVista Energy Ltd. $450 million sustainability-linked loan

Counsel to NuVista Energy Ltd. in respect of a covenant based $450 million sustainability-linked loan with a syndicate of Canadian banks, with sustainability performance targets based on Scope 1 & 2 GHG Intensity, increased spending on asset retirement obligations and gender diversity at the Board of Directors level.

Parex Resources' US$200 million international credit facility

Counsel Parex Resources in respect of its US$200 million senior secured borrowing base credit facility with a syndicate of banks led by a major Canadian bank.

Peyto Exploration & Development's $800 million credit facility

Counsel to Peyto in respect of its $800 million senior secured credit facility with a syndicate of banks led by a major Canadian bank and in respect of the issuance of senior secured private placement notes.

Amalgamation forming one of the largest private oil companies in North America

Counsel to the administrative agent and syndicate of lenders in respect of a covenant based $1.5 billion credit facility with a syndicate of Canadian, U.S., and international banks in connection with the amalgamation of Strathcona Resources Ltd. Caltex Resources Ltd. and Sitckney Resources Ltd., making it one of the largest private oil companies in North America.

Petrus Resources' acquisition and refinancing transactions

Counsel to Petrus Resources Ltd. for its $15 million acquisition of a privately owned limited partnership and its general partner with Cardium assets located at Ferrier, Alberta, $20 million rights offering, $30 million revolving loan facility, and $25 million second lien term facility.

Whitecap Resources Inc's $300 million acquisition of Kicking Horse Oil & Gas Ltd.

Counsel to Whitecap Resources Inc. in its indirect acquisition of Kicking Horse Oil & Gas Ltd., a portfolio company of Quantum Energy Partners, for $300 million.

CWC Energy Services Corp. syndicated and term credit facilities

Counsel to CWC Energy Services Corp. in connection with amendments and extensions of its secured syndicated credit facilities in an aggregate principal amount of up to $75 million and a new secured 5-year term credit facility in the principal amount of $12.8 million.

Tourmaline Oil Corp.'s Peace River High joint venture

Counsel to Tourmaline Oil Corp. in the $500 million Peace River High sale to and joint venture with Canadian Non-Operated Resources LP.

Multiple acquisitions by Command Fishing and Pipe Recovery Ltd.

Counsel to Command Fishing and Pipe Recovery Ltd. in the acquisition of three private wireline and fishing companies.

Baytex Energy Corp.'s $1.5 billion financing

Counsel to Baytex Energy Corp. in its $1.5 billion public offering of 38,433,000 subscription receipts.

Inter Pipeline Fund conversion to Inter Pipeline Ltd.

Counsel to Inter Pipeline Fund in its conversion to Inter Pipeline Ltd., a dividend paying corporation.

Progress Energy Resources Corp.'s sale and joint venture with PETRONAS

Counsel to Progress in the $1.1 billion sale of 50% working interest in Montney shale assets in Foothills of north eastern British Columbia to PETRONAS, the Malaysian national oil company, and the formation of an upstream joint venture to develop the gas assets as well as a downstream LNG Export Project Joint Venture pursuant to which they plan to build and operate a major LNG export facility.

Triwest Capital Partners acquisition of NCSG Crane & Heavy Haul Corporation

Counsel to Triwest Capital Partners and Alberta Teachers’ Retirement Fund in connection with the acquisition of a majority interest in NCSG Crane & Heavy Haul Corporation.

Awards

Recent honours and recognition

Named by Best Lawyers in Canada as a recommended lawyer in banking and finance law (2018-2025)

Named in The Legal 500 Canada a Next Generation Partner in banking & finance (2019-2023)

Recognized in the Canadian Legal Lexpert Directory as a leading lawyer for banking and financial institutions (2019-2022, 2024)

Named in Lexpert's special edition on Canada's leading infrastructure lawyers (2019)

Named in Lexpert's guide to the leading US/Canada cross border corporate lawyers in Canada (2016)

Named a Lexpert Rising Stars honouring Canada's Leading Lawyers Under 40 (2015)

News

March 11, 2025