Canadian Resource Roadways (CRR) has entered into a definitive agreement with Islander Oil & Gas Inc. to acquire two key industrial roads located east of Peace River in Alberta. The deal covers 53 kilometres of infrastructure, including Seal Lake Road and East Chip Road, which are critical to Islander’s Chipmunk project and other operators active in the Clearwater, Bluesky and Pekisko plays.
The acquired road network spans high-potential oil production zones, serving not only Islander’s operations but also third-party companies operating in the Seal, Slave Lake and Nipisi areas. These routes are essential for maintaining logistical access to exploration and production sites amid intensified development in Alberta’s heavy oil region.
A bespoke transaction to unlock capital
The structure of the deal was tailored in close coordination between CRR and Islander’s management to release financial resources for the advancement of the Chipmunk project. Backed by its financial sponsor CBRE Investment Management, CRR continues to execute its strategy of extracting value from non-core infrastructure assets while ensuring long-term operational alignment.
Under the agreement, CRR will become the owner and operator of the road network upon closing, expected in December, pending standard regulatory conditions. This acquisition expands CRR’s portfolio to approximately 200 kilometres of industrial access roads in Alberta, covering the Montney, Duvernay, Clearwater and Deep Basin basins.
Expansion into the resource extraction sector
By gradually widening its operational scope, CRR now serves over 70 clients across upstream, midstream and forestry industries. The company also plans to extend its activities into other resource sectors such as forestry and mining.
RBC Capital Markets acted as CRR’s financial advisor on the transaction, while National Bank Capital Markets advised Islander.
