Industry Newsfeed

New Offshore Liability Regime Effective February 26, 2016

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Courtesy of Osler. View original article here. The Energy Safety and Security Act (ESSA), passed in 2014 by the Harper government, introduced changes to the liability regimes governing Canada’s offshore oil and gas industries. These changes are slated to be effective on February 26, 2016, and include increasing the amount of security required to be provided to… [Read More…] about New Offshore Liability Regime Effective February 26, 2016

Interim Approach for Environmental Assessments

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Courtesy of Bennett Jones. View original article here. The newly elected Liberal federal government recently announced an interim approach for dealing with major projects subject to environmental assessments. The approach is part of the government’s effort to restore public confidence in Canada’s environmental assessment processes, and aims to calm the controversies surrounding proposed major pipeline projects, such… [Read More…] about Interim Approach for Environmental Assessments

Towards the Creation of IT Security Standards for the Alberta Oil and Gas Industry

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Courtesy of Bennett Jones. View original article here. n its first public report of 2016, the Office of the Auditor General of Alberta reviewed, among other things, IT security for industrial control systems used in Alberta’s oil and gas industries (Report of the Auditor General of Alberta (PDF) from www.oag.ab.ca). Forming part of the industry’s… [Read More…] about Towards the Creation of IT Security Standards for the Alberta Oil and Gas Industry

Managing Aboriginal Risk for Resource Projects in Canada

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Courtesy of Osler. View original article here. Aboriginal issues are one of the most common sources of regulatory delay and uncertainty for new natural resource development projects in Canada, and are often the reason that regulatory approvals are quashed. It is therefore critical that proponents of natural resource development projects understand the legal requirements and… [Read More…] about Managing Aboriginal Risk for Resource Projects in Canada

ASC 2015 Oil and Gas Review Report Suggests Best Disclosure Practices

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Courtesy of Borden, Ladner and Gervais. View original article here. The Alberta Securities Commission (the “ASC”) has published its 2015 Oil and Gas Review Report (the “Report”). The Report consists of the ASC’s observations and analysis of oil and gas disclosure by reporting issuers, with a focus on common deficiencies in annual information forms, investor presentations, news… [Read More…] about ASC 2015 Oil and Gas Review Report Suggests Best Disclosure Practices

Key Issues in Canadian Energy M&A for US Buyers

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Courtesy of Stikeman Elliott. View original article here. Although Canada is undergoing its most severe oil and gas downturn since 1998, it remains an important jurisdiction for oil and gas investment and will continue to import substantial amounts of capital and technical expertise from the United States in order to develop its considerable hydrocarbon potential.… [Read More…] about Key Issues in Canadian Energy M&A for US Buyers

PIPE Investments in Canadian Listed Oil & Gas Companies

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Courtesy of Stikeman Elliott. View original article here. A substantial private placement or “private investment in public equity” (a PIPE) involves the direct or indirect acquisition of a control position in a public company by an investor through the purchase of shares of the target and (in most cases) warrants or debentures that are convertible… [Read More…] about PIPE Investments in Canadian Listed Oil & Gas Companies

Alberta’s New Royalty Framework

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Courtesy of Osler. View original article here. On Friday, January 29, 2016, the Alberta government released the results of its Royalty Review Advisory Panel (the Panel), ending the considerable uncertainty that the announcement of the review first created. Much was riding on the outcome of the review, both economically for the oil and gas industry,… [Read More…] about Alberta’s New Royalty Framework

Alberta’s Modernized Royalty Framework

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Courtesy of Stikeman Elliott. View original article here. On January 29, 2016 Alberta’s NDP Government announced a summary of a Modernized Royalty Framework (MRF) that it intends to implement. During last spring’s election campaign, the NDP had promised to review the Province’s royalty system. The objective of this review was to design a royalty system that… [Read More…] about Alberta’s Modernized Royalty Framework

Renewable Energy and Climate Change: Canada’s New Frontier

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Courtesy of Osler. View original article here. Climate change presents environmental, political, social and economic challenges worldwide. As the pressure mounts for global leaders to take action to meet the commitments they made at the UN Climate Change Conference in Paris in December 2015, Canada’s provincial governments are adopting policies to reduce greenhouse gas (GHG)… [Read More…] about Renewable Energy and Climate Change: Canada’s New Frontier