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Alberta offers new incentives to energy industry
The Alberta government has unveiled new incentives for the energy sector, including a 36-month royalty holiday for companies that drill unconventional oil-andgas wells into shale formations.
"This initiative to unlock Alberta`s unconventional resources offers the potential for decades of employment and community benefits," Alberta Energy Minister Ron Liepert said on Thursday.
"The final adjustments to royalty formulas will help industry make important investment decisions for the fall and winter drilling season and maintain Alberta as a competitive jurisdiction for investment."
The unconventional drilling incentives are designed to help Alberta compete with unconventional drilling hot spots in the United States, British Columbia and Saskatchewan.
Tapping oil and gas from shale involves high-cost horizontal drilling with multistage fracture stimulation.
The government has been trying to correct a relationship with the oil-andgas industry that went sour after royalties were increased two years ago.
Read the full article here.
The Alberta government has unveiled new incentives for the energy sector, including a 36-month royalty holiday for companies that drill unconventional oil-andgas wells into shale formations.
"This initiative to unlock Alberta`s unconventional resources offers the potential for decades of employment and community benefits," Alberta Energy Minister Ron Liepert said on Thursday.
"The final adjustments to royalty formulas will help industry make important investment decisions for the fall and winter drilling season and maintain Alberta as a competitive jurisdiction for investment."
The unconventional drilling incentives are designed to help Alberta compete with unconventional drilling hot spots in the United States, British Columbia and Saskatchewan.
Tapping oil and gas from shale involves high-cost horizontal drilling with multistage fracture stimulation.
The government has been trying to correct a relationship with the oil-andgas industry that went sour after royalties were increased two years ago.
Read the full article here.