Category: Oil & Gas

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Legal Trends 2016: Oil & Gas

March 9, 2016

ONE | LOW COMMODITY PRICES As depressed oil prices continue to dominate the headlines and natural-gas prices hover near record lows, sustained low commodity prices have had a cascading effect on the industry, compelling companies to fundamentally alter their business strategies. Cash-flow management is among the areas most impacted. Without a steady income stream, companies are left with few options….

Quebec’s Energy, Mining Sectors Searching for Clarity on Social Acceptability

March 7, 2016

On February 16, 2016, Quebec’s Energy and Natural Resource Minister Pierre Arcand tabled a green paper (referred to in French as the “Livre Vert”) at the National Assembly, outlining five guidelines regarding social acceptability as it relates to the use of public lands and the development of natural resource projects in Quebec (Green Paper). This Green Paper is the latest…

Ontario Announces Climate Change Mitigation and Low Carbon Economy Act and the Cap-and-Trade Program Regulations

February 26, 2016

The Ontario government (Government) has taken significant steps in its fight against climate change by introducing two significant pieces of climate change legislation: The Climate Change Mitigation and Low Carbon Economy Act (Act) on February 24, 2016 The Cap and Trade Program Regulations (Regulations) on February 25, 2016 BACKGROUND On April 15, 2015, the Government signed an agreement with Quebec…

Look Ahead: 2016 Legal Trends

January 8, 2016

  While global markets can be unpredictable, we have assembled some key legal trends that may help you prepare for what lies ahead in 2016.  ​​​​   Anti-Spam   Capital Markets  ​ China    Commercial Real Estate Cybersecurity Employment & Labour Financial Services Regulatory Intellectual Property International Trade   Litigation & Dispute Resolution   Mergers & Acquisitions   Oil &…

Just Like Any Good Recipe, Alberta’s Climate Leadership Plan Has a Little Bit of Everything

November 24, 2015

On Sunday, November 22, 2015, just days before the United Nations conference on climate change in Paris, Alberta released its Climate Leadership Plan (Plan) together with the Climate Leadership Report (Report) upon which it is based. The Plan represents a dramatic and fundamental shift in Alberta’s approach to climate change and greenhouse gas (GHG) issues. Highlights include: Early phase-out of…

Ontario Government Consulting on Proposed Design of the New Cap-and-Trade Program

November 20, 2015

The Ontario Ministry of the Environment and Climate Change (MOECC) has released details of its proposed cap-and-trade program designed to address climate change through the reduction of greenhouse gas (GHG) emissions. On April 15, 2015, the Ontario government signed an agreement with Quebec to create a joint cap-and-trade system to reduce GHG emissions. The cap-and-trade program will be the primary…

C$1-Billion Committed to Development of Quebec’s Mining, Hydrocarbon Industries

September 25, 2015

The Quebec government has recently announced that the Capital Mines Hydrocarbon fund (CMH Fund), the purpose of which is to acquire equity interests in mining and hydrocarbon projects in Quebec, is officially in effect. The creation of the CMH Fund was initially put forward in connection with the 2012–2013 budget by the Quebec government as part of its plan to…

LNG Equipment and Buildings: Canadian Government Proposes Accelerated Writeoff

March 9, 2015

  On February 19, 2015, the Canadian government released draft regulations introducing accelerated capital cost allowance (CCA) for facilities in Canada that liquefy natural gas. The government’s intention is to encourage investment in new facilities to support the liquefied natural gas (LNG) industry in Canada.   The draft regulations provide for an additional 22-per-cent CCA allowance for equipment and structures…

CSA Implements Amendments to Oil and Gas Disclosure Requirements

January 7, 2015

  The Canadian Securities Administrators (CSA) have implemented significant amendments to the oil and gas disclosure requirements contained in National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities (NI 51-101), its Companion Policy (CP 51-101) and related forms and notices. The changes affect both general, ongoing disclosure relating to oil and gas activities and specific annual disclosure requirements….

Alberta Court Sheds Light on Gross Negligence Standard Required of Oil & Gas Operators

November 19, 2014

  The Alberta Court of Queen’s Bench recently addressed whether an operator of oil wells was grossly negligent in its development of a well, and in so doing added clarity to that term.   BACKGROUND In Bernum Petroleum Ltd v. Birch Lake Energy Inc, (Bernum), Bernum Petroleum Ltd. (Bernum), the operator, sought to recover the share of drilling costs of…

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