Osler

Decision to Approve Pacific Northwest LNG Facility a Boost to Industry

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Courtesy of Osler. View original article here. The Liberal government’s decision to approve the Pacific Northwest LNG Project (Project) demonstrates that the federal government is prepared to make decisions on proposed resource development projects to get Canada’s resources to market. The September 27, 2016, Decision Statement [PDF] approving the Project signals to industry, investors and the public… [Read More…] about Decision to Approve Pacific Northwest LNG Facility a Boost to Industry

Saskatchewan Refuses Approval After First Wind Energy Project Environmental Impact Assessment

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Courtesy of Osler. View original article here.  On September 19, 2016, the Saskatchewan Minister of the Environment refused [PDF] environmental approval for the Chaplin Energy Project (Project). The proposed Project is a 177 megawatt (MW) wind facility that is located near the Rural Municipality of Chaplin, 200 kilometres west of Regina. This was the first Environmental Impact… [Read More…] about Saskatchewan Refuses Approval After First Wind Energy Project Environmental Impact Assessment

U.S. Final Rules Requiring Disclosure of Payments by Resource Extraction Issuers

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Courtesy of Osler. View original article here. Background The U.S. Securities and Exchange Commission (SEC) has adopted a final rule that requires SEC-reporting resource extraction issuers to disclose payments to the U.S. federal government and foreign governments relating to the commercial development of oil, natural gas or minerals. These annual disclosure requirements are substantially similar to… [Read More…] about U.S. Final Rules Requiring Disclosure of Payments by Resource Extraction Issuers

Alberta’s Energy Regulator Imposes Further Restrictions on Embattled Energy Industry in Response to Redwater

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Courtesy of Osler. View original article here.  One month after the May 19, 2016 Alberta Court of Queen’s Bench’s decision in Redwater Energy Corporation (Re), 2016 ABQB 278 (“Redwater”), the Alberta Energy Regulator (“AER”) has released Bulletin 2016-16 (the “Bulletin”). The AER (and Orphan Well Association) have appealed the Redwater decision to the Alberta Court of Appeal, where it… [Read More…] about Alberta’s Energy Regulator Imposes Further Restrictions on Embattled Energy Industry in Response to Redwater

Alberta’s Carbon Tax – Bill 20: The Climate Leadership Implementation Act

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Courtesy of Osler. View original article here. Introduction On May 24, 2016, Alberta’s Environment and Parks Minister Shannon Phillips introduced Bill 20: the Climate Leadership Implementation Act, which implements the carbon levy on Albertans and Alberta businesses that the government previously announced under its Climate Change Leadership Plan. Bill 20 includes two new acts, the Climate Leadership Implementation… [Read More…] about Alberta’s Carbon Tax – Bill 20: The Climate Leadership Implementation Act

Implications of the Redwater Decision – Where Does the Buck Stop?

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Courtesy of Osler. View original article here. Introduction On May 17, 2016, the Alberta Court of Queen’s Bench released its eagerly awaited decision in Redwater Energy Corporation (Re), 2016 ABQB 278 regarding the intersection between the provincial oil and gas regulations and the federal bankruptcy and insolvency regime. At issue was whether the provincial regulatory regime… [Read More…] about Implications of the Redwater Decision – Where Does the Buck Stop?

Alberta Court of Queen’s Bench Confirms the Regulatory Regime is a Complete Code That Applies to All Oil and Gas resources on Offshore and Frontier Lands

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Courtesy of Osler. View original article here. On April 20, 2016 the Alberta Court of Queen’s Bench released Geophysical Service Incorporated v Encana Corporation, 2016 ABQB 230, following a common issues trial[1] involving a broad representation of oil and gas industry participants. The Court found that, though copyright can exist in seismic data, the Regulatory Regime[2]that applies to all… [Read More…] about Alberta Court of Queen’s Bench Confirms the Regulatory Regime is a Complete Code That Applies to All Oil and Gas resources on Offshore and Frontier Lands

A Rising Tide Lifts Offshore Costs: Increased Financial Requirements in Wake of Macondo

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Courtesy of Osler. View original article here. The Macondo blowout in the Gulf of Mexico in April 2010 caused billions of dollars in damage and forced regulators to assess their ability to respond quickly and robustly to mitigate the environmental consequences of offshore incidents. In 2014, the Harper government passed the Energy Safety and Security Act (ESSA)… [Read More…] about A Rising Tide Lifts Offshore Costs: Increased Financial Requirements in Wake of Macondo

Final Guidance on Extractive Sector Transparency Measures Act – Get Ready to Enrol and Report

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Courtesy of Osler. View original article here. The Canadian Extractive Sector Transparency Measures Act (the ESTMA) was proclaimed into force on June 1, 2015 and requires businesses involved in the resource exploration and extractive sector in Canada or elsewhere to file and publish reports on certain types of payments made to both domestic and foreign governments.  For… [Read More…] about Final Guidance on Extractive Sector Transparency Measures Act – Get Ready to Enrol and Report

Accessing Capital in a Low Commodity Price Environment

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Courtesy of Osler. View original article here.  The significant decline in crude prices since late 2014 and general expectations of a “lower for longer” price environment through 2016 have had a considerable cooling effect on the ability of oil and gas issuers to raise capital through conventional channels. Further, in terms of access to bank… [Read More…] about Accessing Capital in a Low Commodity Price Environment