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First Nations, Métis settlements join forces for deal backed by Indigenous Opportunities Corporation –

January 10th, 2024

The Alberta Indigenous Opportunities Corporation (AIOC) has expanded its reach into northern Alberta with oil and gas infrastructure assets.

The newly-formed Wapiscanis Waseskwan Nipiy (WWN) Limited Partnership comprises nine First Nations and three Métis settlements that are participating for the first time in a transaction backed by AIOC.

The $150 million loan guarantee, which is AIOC’s second largest commitment in its seven deals to date, was announced Dec. 13. It will allow WWN to acquire an 85 per cent non-operated working interest in Clearwater Infrastructure Limited Partnership for a purchase price of $146.2 million.

Clearwater is a partnership between WWN and Tamarack Valley Energy Ltd. Tamarack owns an interest in midstream assets, such as strategic oil batteries, gas process facilities and key in-field pipelines located in Nipisi, West Marten Hills, Marten Hills and Perryvale in Alberta.

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