Alberta cancels leases near Fort McMurray

Alberta has cancelled some leases ‘to make room for urban development stimulated by oil sands development’. Primary reason was that Fort McMurray requires larger land base to accommodate new residential and commercial growth.

Companies who held leases which have been canceled are:
Value Creation
Alberta Oil Sands
Cavalier Land
E-T Energy
Cenovus Energy
Koch Oil Sands Operating ULC
Suncor Energy
Scott Land & Lease
Laricina Energy
Grizzly Oil Sands ULC

The above companies, according to Alberta Energy, will be compensated for the cancellation of lease.

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