Alberta puts royalty relief on the table |
| The Globe and Mail - Jan 21, 2008 |
The Alberta government is considered easing royalty increases in several major areas of the oil and natural gas business, responding to industry's anger over “unintended consequences” that have led to spending cuts of more than $1-billion.
The key part of the sector that could receive relief is “high-cost, deep, high productivity [natural] gas wells,” the type of multimillion-dollar efforts that are drilled to depths of several thousands of metres during the winter months when the rugged ground is frozen in the Foothills of the Rocky Mountains.
These wells produce large volumes of natural gas, accounting for the majority of the province's gas royalties, and have been the main area of cutbacks by firms such as EnCana Corp., Canadian Natural Resources Ltd. and Talisman Energy Inc. after the province announced increased royalties.
Read Full Article from The Globe and Mail
- Posted: 2008-01-21 09:05:40
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