Case Studies

Evaluate the commercial and technical viability of expanding power generation capacity at a large-scale pulp mill through the optimization of under-utilized assets and the utilization of biomass residuals. This engagement addressed the requirement for a structured assessment of incremental energy exports and the optimization of revenue from associated environmental attributes.

IMC conducted comprehensive pre-feasibility and feasibility studies to assess the integration of new power generation infrastructure with existing industrial operations. IMC developed detailed financial models incorporating marginal cost analysis of hog fuel supply sources, power pool price variability, and the projected valuation of carbon offsets. Key activities included assessing financing alternatives, managing the request for proposal process to engage potential power market partners, and successfully managing the regulatory approval process.

The analysis led to a very successful project, executed in a very short time, that significantly enhanced the pulp mill returns with an upfront cost that was a minor fraction of the returns generated.

Support an energy services company in navigating financial reporting and liquidity requirements at a time when there were considerable variables impacting financial needs, including a potential strategic acquisition. This involved providing the necessary financial oversight to maintain lender stability and assess long-term growth opportunities.

IMC provided comprehensive financial advisory services, including the development of budget forecasts, quarterly performance reviews, and detailed liquidity analyses to support negotiations with lenders. To address the client’s growth objectives, IMC conducted a financial evaluation of an acquisition target entity, producing detailed models and structured offer proposals. IMC also facilitated direct discussions with lenders to explore financing plans and draft letters of intent. These activities integrated ongoing operational oversight with strategic planning and due diligence preparation.

The engagement provided the client with the financial documentation and analysis required to sustain lender relations during a period of uncertainty. IMC’s work resulted in a structured acquisition framework, including a defined financing plan and a roadmap for due diligence. These deliverables enabled the leadership team to make informed decisions regarding both liquidity management and expansion opportunities.

Establish the regulatory, commercial and logistical frameworks for a provincial bitumen royalty-in-kind program intended to leverage the province’s royalty barrels to be used for various initiatives that would enhance the province’s economic output. This required resolving complex regulatory and operational requirements for the physical delivery and marketing of bitumen volumes to replace traditional cash-based royalties.

IMC provided policy development, market design, and financial modelling for provincial departments of economic development, energy and finance. Key activities included creating bitumen production and an upgrader financial model, as well as economic models to assess royalty revenue impacts, assessing netback differentials, and transportation, diluent and other logistics requirements. IMC performed comprehensive analyses of export pipeline infrastructure and tolls, options for upgrading and other value-added projects. The work involved research and industry consultations to validate production forecasts and evaluate logistical impacts. Deliverables included ministerial reports and program design frameworks.

The engagement produced a detailed program design and implementation plan that supported ministerial decision-making and cabinet-level approvals. These frameworks enabled the launch of a structured request for proposals focused on provincial value-added processing.

Facilitate the entry of a U.S.-based post-secondary education provider into the Alberta market by managing provincial and municipal government relations. The project focused on navigating complex regulatory requirements and public policy frameworks to establish a new operational presence within the province.

IMC provided support related to stickhandling legislation, regulations, and public policy affecting the higher education sector. Activities included monitoring provincial and municipal government developments and ensuring full compliance with provincial requirements through formal registration with the Alberta Provincial Ethics Commission. IMC’s role involved analyzing the local political and regulatory landscape to guide the client through the necessary administrative and legislative channels.

The engagement enabled the client to secure the required regulatory approvals to operate within the jurisdiction. These milestones were achieved on a timeline that exceeded the efficiency of approval processes in any other jurisdiction where the client sought similar authorizations. The work established a clear regulatory pathway for the institution’s expansion into the Canadian market.

Enable a natural gas producer to navigate complex regulatory, community, and commercial hurdles associated with exploration and pipeline development in the Northwest Territories. The engagement sought to establish a viable pathway for the Mackenzie Valley Pipeline amidst competing infrastructure proposals and evolving land claim negotiations.

IMC performed a preliminary assessment of the regulatory landscape, competitive environment, and stakeholder dynamics to inform a long-term advocacy strategy. This included identifying key players within federal, territorial, and Indigenous governments, as well as conducting a comparative analysis of competing pipeline routes. IMC developed a comprehensive communications and issues management plan designed to align internal corporate objectives with external community and government interests.

The planning process provided the producer with a detailed critical path and a structured framework for engaging a consortium of industry partners. These activities enabled the transition from a neutral market position to a proactive leadership role in advocating for the most cost-effective infrastructure route. The resulting communication vehicles established a foundation for ongoing negotiations with regulatory bodies and northern communities regarding benefits agreements and land use.

Evaluate and develop regional rail infrastructure to optimize inbound delivery of logs for a pulp mill.

IMC supported the economic analysis and the negotiations leading to the investment by a third-party rail operator in various infrastructure and upgrades, so that the project could proceed.

The project proceeded and provided multi-million dollar annual cost savings for the client. The agreement terms were structured so that later, a large payment was made from the successor rail operator to the pulp mill when the successor rail company decided to use the rail for other purposes.

Enable an industry-led consortium of large greenhouse gas (GHG) emitters to assess and advance the policy, technical, and commercial foundations for a potential carbon capture and storage network in Alberta.

IMC’s role was primarily to support government relations, policy and regulatory activities. IMC also provided a technology assessment of capture technologies and supported economic analysis.

The engagement led to provincial government commitments to proactively develop a policy and regulatory framework, as well as a decision fund for key infrastructure.

Identify federal and provincial regulatory pathways to (i) discredit the purported “needs” basis for increasing ethane supplies in Alberta and (ii) frustrate third-party activities aimed at developing new National Energy Board (NEB) or Alberta Energy and Utilities Board (EUB)–regulated ethane extraction facilities.

IMC’s gas and NGL experts began by addressing key issues associated with the EEP: (a) the Alberta petrochemical industry’s contention that there was a “need” for new ethane; (b) the desire to remove ethane from the Alliance Pipeline in Alberta; and (c) the facility application requirements related to potential new ethane extraction projects. The team reviewed applicable provisions of the National Energy Board Act, Alberta’s energy regulations, and relevant regulatory decisions—particularly the NEB’s certification of the Alliance Pipeline and subsequent NEB and EUB rulings related to the proliferation of ethane extraction facilities in Alberta. The review analyzed authorizations for exporting rich gas for liquids extraction in the United States, provincial straddle plants, and other ethane extraction facilities. Regulatory procedural mechanisms, including reviews, re-hearings, information requests, and complaint filings, were catalogued to identify available regulatory levers.

The analysis produced a client-ready roadmap of regulatory and related options across both federal and provincial jurisdictions. It set out a range of short-term and ongoing proactive and reactive actions to defend against improper governmental and regulatory incentives for increasing ethane supplies, detailing when and how to engage with each body. It also established a monitoring plan for regulatory filings to gain additional insights into competitor activities and potential policy changes. Finally, it outlined a number of regulatory and commercial means that could frustrate competitors, including through regulatory reviews, complaints, and deep engagement in review processes.