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:
Alberta Oil Sands
Koch Oil Sands Operating ULC
Scott Land & Lease
Grizzly Oil Sands ULC
The above companies, according to Alberta Energy, will be compensated for the cancellation of lease.