Oil & Gas

Total Energy Services Commences an Offer to Purchase Savanna Energy Services Corp

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Courtesy of Bennett Jones. View original article here. Date Announced: December 09, 2016 Date Closed: TBD Deal Value: Approximately $400 million (including indebtedness) Client Name: Total Energy Services Inc. On December 9, 2016, Total Energy Services Inc. commenced an offer to purchase all of the outstanding common shares of Savanna Energy Services Corp., by way of unsolicited takeover bid.… [Read More…] about Total Energy Services Commences an Offer to Purchase Savanna Energy Services Corp

Petrochemical Plants Will Diversify Economy, Create Jobs

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Courtesy of Alberta Energy. View original article here. Two new petrochemical projects approved by the provincial government will add jobs, diversify the energy industry and create lasting benefits for Alberta’s economy. The economy will get a substantial boost from two projects that would, for the first time in Alberta, process propane extracted from natural gas… [Read More…] about Petrochemical Plants Will Diversify Economy, Create Jobs

The Future of the Oil Sands: Reports of its Demise are Premature

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Courtesy of Stikeman Elliott and Canadian Energy Law. View original article here.  The oil sands have played a vital role in the Canadian economy for the past twenty-five years. Recent geo-political developments both at home and abroad, however, have led many to speculate whether Canada’s oil sands will continue to be viable. Some have even… [Read More…] about The Future of the Oil Sands: Reports of its Demise are Premature

Overtime Class Actions Gaining Traction in Canada: Is the Oil Patch Next?

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Courtesy of Bennett Jones. View original article here. On October 12, 2016, a former GoodLife personal trainer filed a class action lawsuit for $60 million in damages under Ontario’s Class Proceeding Acts, 1992. The proposed class members include current and former non-managerial employees of GoodLife employed in Ontario since October 2014. The Action alleges, among other things, that… [Read More…] about Overtime Class Actions Gaining Traction in Canada: Is the Oil Patch Next?

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

Three New Oil sands Developments Receive Initial Approval Following Regulator Review

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Courtesy of Alberta Energy. View original article here. Three new proposed oil sands developments have cleared an important early step in the regulatory process. Government has approved the proposals for: The Blackpearl Resources Inc. Blackrod oil sands steam-assisted gravity drainage (SAGD) development The Surmont Energy Ltd. Wildwood oil sands SAGD development The Husky Saleski oil… [Read More…] about Three New Oil sands Developments Receive Initial Approval Following Regulator Review

New Drilling and Jobs Under Modernized Royalty Framework

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Courtesy of Alberta Energy. View original article here. Drilling investment and jobs will increase in Alberta through the rest of 2016 now that drilling has started on the first wells under the Modernized Royalty Framework. Government has received dozens of drilling applications since companies were allowed to apply for early access to the new framework.… [Read More…] about New Drilling and Jobs Under Modernized Royalty Framework

Transfer of Operatorship of Oil and Gas Assets Upon Insolvency

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Courtesy of Bennett Jones. View original article here. Operating agreements for oil and gas assets typically contemplate the immediate replacement of the operator by another working interest owner in the event of the operator’s insolvency. However, these provisions often become practically unenforceable because, once proceedings are commenced under either the Companies Creditors’ Arrangement Act, RSC 1970,… [Read More…] about Transfer of Operatorship of Oil and Gas Assets Upon Insolvency

New Rules Target Tailings Ponds

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Courtesy of Alberta Energy Regulator. View original article here. New requirements issued by the Alberta Energy Regulator target oil sands tailings ponds, requiring performance reporting and ensuring progressive reclamation. The phased approach in the newly issued Directive 085: Fluid Tailings Management for Oil Sands Mining Projects supports the Government of Alberta’s Tailings Management Framework. “These new requirements will… [Read More…] about New Rules Target Tailings Ponds

AER Bulletin 2016-16: A Chilling Announcement on the First Day of Summer

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Courtesy of BD&P. View original article here. In a fundamental shift in the landscape for oil and gas transactions, on June 20, 2016 the AER quietly published AER Bulletin 2016-16 in response to the decision of the Alberta Queen’s Bench in the Redwater decision (Redwater Energy Corporation (Re), 2016 ABQB 278). Asserting the need for… [Read More…] about AER Bulletin 2016-16: A Chilling Announcement on the First Day of Summer