Industry Newsfeed

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

“Pétrole social”: What’s That?

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Courtesy of Stikeman Elliott. View original article here. On April 7, 2016, Premier Philippe Couillard and four of his ministers unveiled Quebec’s 2030 Energy Policy. As discussed in our April 8 overview post, this initiative is a “green” policy that sets ambitious de-carbonization goals. The last chapter of the Policy deals with fossil fuels (pages 57 to… [Read More…] about “Pétrole social”: What’s That?

Going Private Transactions in Canada’s Energy Sector – On the Rise?

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Courtesy of Bennett Jones. View original article here. Are going private transactions on the rise? Conditions are ripe for an increased number of private equity-led buyouts of public companies. In a “lower for longer” commodity price environment, Canadian energy and energy-services companies are facing difficult circumstances in preserving value. Total declines in market capitalization among… [Read More…] about Going Private Transactions in Canada’s Energy Sector – On the Rise?

Federal Budget Addresses the Taxation of Emissions Allowances

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Courtesy of Stikeman Elliott. View original article here. Prior to the federal budget of March 22, 2016 (Budget 2016), the tax treatment of emissions allowances was governed by general principles of income tax law.  Budget 2016 proposes to introduce a specific regime that applies to emissions allowances. Pursuant to Budget 2016, emissions allowances will be treated as… [Read More…] about Federal Budget Addresses the Taxation of Emissions Allowances

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

British Columbia Supreme Court Decides that the Province Cannot Abdicate its Authority

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Courtesy of Borden, Ladner and Gervais. View original article here. Recently the British Columbia Supreme Court (“Court”) released its reasons for judgment in Coastal First Nations v. British Columbia (Environment), 2016 BCSC 34. The BC Environmental Assessment Office (the “EAO”) had entered into an equivalency agreement (the “Agreement”) with the National Energy Board (“NEB”). The Agreement… [Read More…] about British Columbia Supreme Court Decides that the Province Cannot Abdicate its Authority

Notice – E-Reporting in effect under the British Columbia Environmental Management Act

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Courtesy of Borden, Ladner and Gervais. View original article here. n December 2015, the Ministry of Environment sent notices to permit holders informing them that they would now need to e-report. The notices went out to 210 permit holders, all of which had annual fees of more than $20,000 or security/reclamation bonds greater than $100,000.… [Read More…] about Notice – E-Reporting in effect under the British Columbia Environmental Management Act

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

Ontario’s Long Awaited Cap-and-Trade Plan

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Courtesy of Stikeman Elliott. View original article here. Yesterday, the provincial government released its 2016 Ontario Budget and with it came the details of their much anticipated cap-and-trade plan. The plan, which will be governed by the Climate Change Mitigation and Low Carbon Economy Act, will be linked to existing cap-and-trade systems in Quebec and California… [Read More…] about Ontario’s Long Awaited Cap-and-Trade Plan

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