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ARTICLE · 03 JULY 2008

New Alberta Royalty Programs Encourage Continued Development Of Deep Oil And Gas Reserves

Stikeman Elliott LLP
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As part of the Government of Alberta's commitment to address "unintended consequences" of the New Royalty Framework announced in October 2007 (the Framework), the Alberta Department of Energy (Alberta Energy) recently introduced two new royalty programs and certain other amendments affecting royalty calculations.

CanadaEnergy and Natural Resources
Stikeman Elliott LLP
Stikeman Elliott LLP
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As part of the Government of Alberta's commitment to address "unintended consequences" of the New Royalty Framework announced in October 2007 (the Framework), the Alberta Department of Energy (Alberta Energy) recently introduced two new royalty programs and certain other amendments affecting royalty calculations.

The two new royalty programs are designed to encourage the continued development of deep, high-cost oil and gas reserves, in light of identified concerns that some deep oil and gas reserves had the potential of becoming uneconomic under the Framework. These programs are expected to be implemented on January 1, 2009 with the other Framework programs.

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