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New licence transfer restrictions

Thursday, August 18, 2016 @ 8:00 PM | By Zoë Thoms

Alberta oil and gas licensees face several implications following an Alberta Court of Queen’s Bench decision, including an increase in licence transfer restrictions imposed by the Alberta Energy Regulator (AER).

The implications arise from the May 19 Grant Thornton Ltd. v. Alberta Energy Regulator 2016 ABQB 278 (Redwater) decision, which is under appeal by the AER. The decision found that a bankruptcy trustee can disclaim a bankrupt company’s poor oil and gas properties and is not bound by AER abandonment orders relating to such properties. It...