Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

International Frontier Resources Corp V.IFR

Alternate Symbol(s):  IFRTF

International Frontier Resources Corporation is a Canadian company, which is focused on advancing oil and gas projects. Through its Mexican subsidiary, Petro Frontera S.A.P.I de CV (Frontera) and strategic joint ventures, it is advancing the development of petroleum and natural gas assets in Mexico. It also has projects in Canada and the United States, including the Northwest Territories, and Montana.


TSXV:IFR - Post by User

Post by glaciermanon Jun 08, 2014 6:59pm
241 Views
Post# 22641452

New fracking regulations

New fracking regulations
New fracking regulations coming
GNWT to consult with public and industry on regulatory process

Walter Strong
Northern News Services
Published Saturday, June 7, 2014

NWT
The GNWT will consult with the public and industry before creating made-in-the-NWT regulations to govern future hydraulic fracturing projects in the territory. 

nnsl photo

Industry, Tourism and Investment Minister David Ramsay recently announced that the GNWT will go through a public consultation process on fracking regulations. He said the new regulations will better reflect the NWT's new role as oil and gas regulator since powers over land, water and resources devolved to the territorial government on April 1. - Walter Strong/NNSL photo

By the end of this month, the GNWT will release its plans for consultation process hydraulic fracturing, commonly known as fracking, under the NWT Oil and Gas Operations Act.

Prior to the devolution of land, water and resources on April 1, oil and gas exploration was regulated under filing requirements imposed by the National Energy Board (NEB).

“The fact of the matter is, on April 1 we inherited filing requirements from the NEB,” said Industry, Tourism and Investment Minister David Ramsay.

“Those weren’t our filing requirements. We need to have people in the NWT - stakeholders, aboriginals, industry, and government - able to have input into the regulations we’ve inherited.”

While the announcement was made June 2, details on the extent of public participation in the consultation process, and on how long the process is anticipated to take remained vague at press time.

“We’re in early days, but we hope to announce timelines by the end of the month,” said Ramsay.

The goal is for the territorial government to develop regulations that are responsive to industry’s need for clear timelines and regulations surrounding applications to develop oil and gas potential in the NWT, he said.

“Our goal is to have a regulatory process that is transparent and that sets out timelines in a reasonable manner that people can work with,” added Ramsay. “And that at the same time the public can have confidence in that the environment will be protected.”

The process aims to address many of the concerns raised during the June 4 motion in the GNWT legislature to impose a moratorium on fracking in the NWT, which was defeated by a vote of 13 MLAs against and four in favour.

“We’ll be doing some of the things that were contained in the motion yesterday (to ban fracking),” Ramsay told News/North June 4. “We’ll be consulting with the public and talking to the people of the NWT.”

Leadership representatives from the Sahtu were in Yellowknife last week to meet with cabinet ministers regarding the economic challenges the region will now face due to the sudden disappearance of energy industry spending after both ConocoPhillips and Husky Energy pulled out of the region.

“I met with them,” Ramsay said of the visit. “Obviously, there is some concern. They will certainly have a voice in how we develop the new regulations as well.”

Bullboard Posts