Oil & Gas

To Regulate or Not to Regulate?

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Courtesy of McCarthy Tetrault. View original article here. BC Environmental Appeal Board Confirms that Provincial and Municipal Laws Designed to Regulate Air Emissions Do Not Impede on Federal Jurisdiction A decision released by the British Columbia Environmental Appeal Board (EAB) on May 12, 2017 has clarified the relationship between federal lands and provincial environmental legislation… [Read More…] about To Regulate or Not to Regulate?

Cleanup Boost for Old Oil and Gas Sites to Create Jobs

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Courtesy of Alberta Energy. View original article here. Albertans will have a cleaner, safer environment and more jobs in the process thanks to a funding boost to address orphaned wells. The Alberta government has introduced legislation that would allow it to lend the Orphan Well Association (OWA) $235 million to speed up proper abandonment and… [Read More…] about Cleanup Boost for Old Oil and Gas Sites to Create Jobs

Transparency Initiatives in the Extractive Sector: ESTMA Reporting Deadline Approaching in Canada and Setbacks in the United States

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Courtesy of Bennett Jones. View original article here. The May 30, 2017, reporting deadline under the Extractive Sector Transparency Measures Act (ESTMA) is fast approaching. This annual reporting deadline under ESTMA applies to entities that: are listed on a Canadian exchange or meet the threshold size requirements (based on assets and revenues); are developing oil, gas and… [Read More…] about Transparency Initiatives in the Extractive Sector: ESTMA Reporting Deadline Approaching in Canada and Setbacks in the United States

Review of Old Wells to Protect Albertans, Environment

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Courtesy of Alberta Environment. View original article here. The province is working with industry and experts to find ways to better protect Albertans and the environment by improving policies for managing old oil and gas facilities.  Subject matter experts and key stakeholders will take part in roundtable discussions on improving the management of historic, current… [Read More…] about Review of Old Wells to Protect Albertans, Environment

AER to appeal Redwater decision to Supreme Court of Canada

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Courtesy of Alberta Energy Regulator. View original article here. The Alberta Energy Regulator (AER) will be seeking leave to appeal to the Supreme Court of Canada a recent Alberta Court of Appeal decision. In the 2-1 Alberta Court of Appeal decision, the majority dismissed the AER’s appeal of a Court of Queen’s Bench decision allowing… [Read More…] about AER to appeal Redwater decision to Supreme Court of Canada

All Wells May Not End Well: Alberta Court of Appeal Rules that Receivers and Trustees Can Orphan “Bad” Wells

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Courtesy of Stikeman Elliott. View original article here. In a much anticipated decision, a 2-1 majority of the Alberta Court of Appeal(the ABCA) has upheld the Alberta Court of Queen’s Bench (ABQB) decision in Re Redwater Energy Corporation, 2016 ABQB 278. The ABCA found in favour of receivers, trustees and secured creditors on the basis that the Bankruptcy and Insolvency… [Read More…] about All Wells May Not End Well: Alberta Court of Appeal Rules that Receivers and Trustees Can Orphan “Bad” Wells

Canada’s Stock Exchanges Favour Natural Resource Issuers

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Courtesy of Bennett Jones. View original article here. Canada is recognized as the world’s leading capital market for natural resource companies. Its stock exchanges boast over half of the world’s public mining companies and over one-third of the world’s public oil and natural gas companies. Canadian stock exchanges also present a recognized destination for foreign… [Read More…] about Canada’s Stock Exchanges Favour Natural Resource Issuers

Fairness Opinions – Is There a New Interoil Standard?

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Courtesy of Borden Ladner Gervais. View original article here. The Supreme Court of Yukon recently issued a final order approving the plan of arrangement whereby ExxonMobil Corporation would acquire all of the outstanding shares of InterOil Corporation. This was the second attempt by InterOil to obtain court approval in connection with the arrangement with ExxonMobil, its… [Read More…] about Fairness Opinions – Is There a New Interoil Standard?

Budget 2017: Changes to Canadian Exploration Expense and Flow-Through Shares

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Courtesy of Bennett Jones. View original article here. All references are to the Income Tax Act (Canada) (Act), unless otherwise noted. Background Canadian exploration expenses (CEE) are certain types of expenses incurred by oil and gas, mining and renewable energy corporations. CEE is 100 percent deductible in the year the expense is incurred. Certain types of CEE… [Read More…] about Budget 2017: Changes to Canadian Exploration Expense and Flow-Through Shares

Possible New Clean Fuel Standard in Canada

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Courtesy of Bennett Jones. View original article here. Environment and Climate Change Canada (ECCC) is considering the development of a new clean fuels regulation under the Canadian Environmental Protection Act, 1999. The purpose of this proposed new regulation is to reduce Canada’s greenhouse gas (GHG) emissions through the adoption of lower carbon fuels and related technologies.… [Read More…] about Possible New Clean Fuel Standard in Canada