GATINEAU, QC, Feb. 26, 2024 /CNW/ – The Competition Bureau welcomes the Supreme Court of Canada’s (SCC) decision to dismiss an application by Secure Energy seeking leave to appeal the Bureau’s successful challenge of the merger of two rival suppliers of oilfield waste services.
Secure’s application looked to overturn a decision of the Federal Court of Appeal in August 2023 upholding the March 2023 decision by the Competition Tribunal that ordered the company to sell 29 facilities to resolve ongoing harm to competition in Western Canada.
The Bureau recently approved R360 Environmental Solutions Canada Inc. as the buyer of the 29 facilities. The facilities include 17 treatment, recovery, and disposal facilities, 4 standalone water disposal wells, 6 landfills and 2 caverns. Secure acquired these facilities as part of the merger.
With the sale, businesses that rely on oilfield waste services in the Western Canadian Sedimentary basin (WCSB) can once again benefit from a competitive market.
The SCC’s decision upholds the Tribunal’s decision, thereby restoring competition for these services in the WCSB and bringing this matter to its conclusion.
“I am pleased that this matter can now be considered closed. And that as a result of our efforts, Canadian businesses using oil and gas waste services can once again access competitive pricing and quality service.”
Mathew Boswell,
Commissioner of Competition
- Pre-merger, Secure and Tervita were the two largest suppliers, and in many areas, the only suppliers of oil and gas waste services in the WCSB and vigorously competed with one another to win customers.
- The WCSB, which spans southwestern Manitoba, southern Saskatchewan, Alberta, northeastern British Columbia and the southwest corner of the Northwest Territories, contains one of the world’s largest reserves of petroleum and natural gas.
- Supreme Court decision
- Competition Tribunal’s order and reasons
- Summary of the Competition Tribunal’s decision
- Competition Bureau’s application to the Competition Tribunal
- Competition Bureau approves Waste Connections as buyer of 29 Secure facilities to resolve competition concerns
- Federal Court of Appeal upholds Competition Bureau’s successful challenge of Secure and Tervita merger
- Competition Bureau successful in challenge of Secure and Tervita merger
- Competition Bureau challenges proposed merger of rival oil and gas waste service providers Secure and Tervita
- Federal Court of Appeal confirms that the Competition Tribunal has the power to temporarily block mergers
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The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.
SOURCE Competition Bureau
View original content: http://www.newswire.ca/en/releases/archive/February2024/26/c8491.html