ADK Petroleum Ltd is a legacy partnership with Shiha Ltd., Paramount Resources Corporation, and Berkley Petroleum Corporation where the three companies joined with the Shareholder – Acho Dene Koe First Nation to get a pipeline built from Northwest Territories to British Columbia in the early 2000s with the primary intent to transmit product from the K-29 well sites in Acho Dene Koe First Nation’s Traditional Territory to the Northern Gateway Pipeline in British Columbia.

While the pipeline was decommissioned in 2008, amid declining production and revenues, there is on-going responsibilities associated with maintenance of the pipeline.

The current partnership has evolved and now includes six function units on the pipeline with ownership shared amongst Paramount, CNRL, Obsidian Energy, Ovintiv Petroleum, Peyto Energy, Temagami Petroleum and ADK Petroleum. In each of the six functioning units of the pipeline the distribution of share of ownership changes with the industry proponents but ADK Petroleum’s ownership remains consistent with 5% of the shares.

While the pipeline remains active, the owners continue to maintain regulating requirements with the intent to eventually bring the pipeline live in the future.