I recently wrote about a request that some interveners made to the Energy Resources Conservation Board, asking for a re-hearing of the Sullivan applications.
About a week ago, the ERCB responded to all parties involved, explaining that they are denying the motions to rehear the application.
In providing this notice, the Board commented that it is not in the practice of anticipating the impact of natural gas prices and associated economics on business decisions of companies; they said these matters are best left to the companies.
With regard to the other issue in the request for rehearing, the ERCB noted that mergers are common to the oil and gas industry, and that merged entities are subject to the same extensive regulation as other companies. The Board added that the merger between Suncor and Petro-Canada involved two large, sophisticated companies with considerable experience in the industry.
More importantly, the Board said it expects Suncor to honour the commitments made by Petro-Canada during our hearing. And we agree that’s important – after all, the commitments weren’t made lightly.
So what’s next? An ERCB decision on the applications. Stay tuned…
Comments