I believe that some of APXR's property and wells are in this area:
Canadian Gas Pipeline May Start Before Alaska's, McCallum Says
Oct. 25 (Bloomberg) -- Canada's $5.67 billion Mackenzie Valley natural-gas pipeline may begin construction before an Alaskan project that would compete for raw materials and labor, Acting Natural Resources Minister John McCallum said.
Both pipelines would bring northern gas to markets in the U.S., where rising demand helped send prices to records this year.
``It is fundamentally in our interests to have this proceed expeditiously and prior to the Alaska pipeline,'' McCallum told the House of Commons Industry, Natural Resources, Science and Technology Committee today in Ottawa.
BP Plc's negotiations on an agreement with Alaska to help build a $20 billion pipeline to the continental U.S. may be reaching a conclusion, Chief Executive John Browne said in an interview in London today.
McCallum said Canada is still negotiating with Indian tribes who own land running along the Mackenzie pipeline's proposed route.
``I am informed that the scheduling is still such that the Mackenzie Valley pipeline is well ahead of the Alaska pipeline in terms of timing,'' McCallum said.
If both projects were built at the same time, companies would struggle to fill their needs for workers and materials such as steel, according to McCallum, who is acting as natural resources minister while John Efford is out with an illness.
Tim Hearn, chief executive of Imperial Oil Ltd., Canada's biggest oil company, will decide by November whether to ask Canadian regulators to hold hearings on the Mackenzie project. Hearn said on Oct. 6 that ``under current conditions, we don't have an economic project.''
Calgary-based Imperial is 70 percent owned by Exxon Mobil Corp., the world's largest publicly traded oil company.
To contact the reporter on this story:
Greg Quinn in Ottawa at gquinn1@bloomberg.net.
Last Updated: October 25, 2005 12:03 EDT
bloomberg.com
John :-)
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