Courtesy of Borden Ladner Gervais. View original article here. On Sunday, December 2, 2018, the Government of Alberta (“GOA”) announced that it would implement mandatory curtailment of crude oil and bitumen production in the province by 8.7 per cent per day by January 1, 2019. In a previous update, BLG analyzed the curtailment plan and possible… [Read More…] about Alberta Releases Curtailment Rules for Crude Oil and Crude Bitumen Production
Courtesy of Borden Ladner Gervais. View original article here. The Government of Alberta (GOA) announced its mandatory curtailment of crude oil production plan on Sunday, December 2, 2018.1 The plan is a short-term measure to raise the price of Alberta’s crude oil, currently selling at a discount at $10 per barrel, in order to compete… [Read More…] about Alberta Cuts Oil Production to Raise its Discounted Crude Oil Prices
Courtesy of Borden Ladner Gervais. View original article here. In 2002 the Supreme Court of Canada, in Bank of Montreal v Dynex Petroleum Ltd, 2002 SCC 7 (Dynex) affirmed that gross overriding royalty interests (GOR) could constitute interest in land provided the parties so intended and that intention was sufficiently evidenced in an agreement. The case-by-case application of Dynex appears to… [Read More…] about Gross Overriding Royalty as Interest in Land – the Clear Language Conundrum Continues
Courtesy of Borden Ladner Gervais. View original article here. On January 15, 2018, the federal government released legislative and regulatory proposals for the proposed federal carbon pricing system, which will be implemented under the Greenhouse Gas Pollution Pricing Act (the “Proposals”). The Proposals and explanatory notes are available on the Department of Finance website in English and in French.… [Read More…] about Federal Government Announces Greenhouse Gas Pollution Pricing Legislative and Regulatory Proposals
Courtesy of Borden Ladner Gervais. View original article here. In January 2017, in ABAER 001 – Bonavista Energy Corporation A Regulatory Appeal of Two Well Licences and an Application for a Pipeline Gilby Field (Bonavista case), the Alberta Energy Regulator (AER) issued the first of its decisions for 2017 confirming two horizontal gas well licenses it issued… [Read More…] about Regulating in the Green Era: the AER Rules Land Disturbance Not Justifiable by Short-term Economic Advantage of New Pipeline
Courtesy of Borden Ladner Gervais. View original article here. As promised, the Alberta Electric System Operator (AESO) kicked off what it is calling “REP Round 1” by issuing a Request for Expressions of Interest (REOI) for Round 1 of its Renewable Electricity Procurement (REP). The REOI is the first stage of a much anticipated 3… [Read More…] about Ready, Set, Go: Alberta’s Renewable Electricity Procurement Begins
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?
Courtesy of Borden Ladner Gervais. View original article here. The Ontario government’s March 2, 2017 announcement of its “Fair Hydro Plan” marks a historic shift in direction in an electricity sector that has witnessed many transformational events over the past 25 years. Historical milestones include: Premier Bob Rae’s appointment of Maurice Strong to restructure the… [Read More…] about The Fair Hydro Plan: “The Times They Are A Changing”…Again
Courtesy of Borden, Ladner Gervais. View original article here. From the public policy standpoint, there has been a shift towards more environmental stewardship in Canada, evidenced by heightened media attention on environmental issues and by an expanded legal framework relating to the management of environmental liabilities. For example, directors may be personally liable for violation… [Read More…] about What Are the Implications for Boards of Directors in Light of the Redwater Decision?
Courtesy of Borden Ladner Gervais. View original article here. Earlier this month, members of BLG attended the Alberta Electric System Operator’s (AESO’s) first stakeholder engagement session in Calgary on the design of Alberta’s forthcoming capacity market. As we wrote about in Alberta to Cap Electricity Rates and Bring in a Capacity Market, the provincial government first… [Read More…] about Designing Alberta’s New Electricity Capacity Market: Work Begins but Much to be Done