RE:RE:Real Information for Real Investors "NE BC Operations – industry licencing activity is taking off
While the company did not formally sanction its Attachie project in NE BC as of yet, it does continue to refer to this asset as its “leading development opportunity” and “expects the new agreements to facilitate sanctioning of Attachie phase 1 in 2023.”
Licencing activity in the province continues to explode higher following the agreement between the province of BC and the Blueberry River First Nations. Since the beginning of the year, 245 licences have been issued in BC, almost exclusively for Montney wells. Of those 245, ARC has 16 licences. Interestingly, the licencing activity did not resume all at once, as ARC has been able to get a total of 64 licences in BC over the last 3 months, out of an industry total of 372. According to the company’s presentation, none of ARC’s land in BC is in the Blueberry River First Nation “high value area.”
In total across BC and Alberta, we can see on BOE Intel that ARC Resources has licenced 125 wells in the last three months."
I am not sure TOU can claim the same as they have well licences in fields called "Blueberry".
So....lots of wells and no problem with new well permits as they are not on restricted land.
BOE Intel spotlight on ARC Resources – licencing activity in BC up sharply
https://boereport.com/2023/02/15/boe-intel-spotlight-on-arc-resources-licencing-activity-in-bc-up-sharply/ GLTA ARX BULLS
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MyHoneyPot wrote: It has become clear with the Treaty8 issues resulted in issues in regards to getting well licenses in NE B.C.. Companies like TOU had many years of approved well licenses in place they mentioned them and called them Legal Well Licenses. TOU could wait out the negociations with less impact on their production than other producers.
ARX on the other hand has a Capex Program labeled rebuild NE B.C. production, I am not sure they were in the same position as TOU.
Lets hope they rectify this going forward.
IMHO