On February 14, 2023, CSV Midstream Solutions Corp. (CSV), a Calgary-based independent midstream company, announced its acquisition of KANATA Energy Group. The transaction encompassed majority-operated joint venture interests in key natural gas gathering and processing facilities located in the Western Canadian Sedimentary Basin at Valhalla and Simonette, near Grande Prairie, Alberta. These assets are strategically positioned near CSV's ongoing projects such as the Albright sour gas processing project and the Resthaven Gas Plant.

The acquired KANATA assets are set to enhance CSV's processing capacity by over 150 million cubic feet per day (MMcf/d), augmenting the company's pre-acquisition capacity of 470 MMcf/d. CSV’s CEO, Daniel Clarke, highlighted the acquisition as a strategic move to strengthen the company's role as a reliable gas processing service provider by expanding its asset portfolio and customer base. He praised the achievements of the KANATA team, especially through challenging times in the energy sector, and expressed enthusiasm about the cultural synergy between the two companies enhancing their shared values.

Rick Staples, President of CSV, emphasized that the acquisition aligns with CSV’s growth strategy, bolstering its presence in significant plays like Montney, Charlie Lake, and Spirit River in northwestern Alberta, thus promising reliable services to an expanding range of producers.

CSV received financial advisory services from National Bank Financial Inc. and legal advice from Bennett Jones LLP, while Osler served as legal advisor to KANATA.