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Environment committee Thank you. Good morning. I'm Richard Dunn, the vice-president of government relations for Encana. Encana is a leading North American energy producer, with Canadian unconventional natural gas operations in northeast B.C. and Alberta. At Encana we take our responsibility as a
May 17th, 2012Committee meeting
Richard Dunn
Natural Resources committee That's a very fair comment. I'd take back one point, sir, that I'd initially think about, and that is the need for competitiveness to keep the industry viable. It would not make sense to do a cumulative effects assessment. It would be efficient to do it on a well-by-well basis,
November 23rd, 2010Committee meeting
Richard Dunn
Natural Resources committee Thank you. I appreciate the question. With regard to the details on the tax, in the United States the developers are given an immediate writeoff of their expenses against their taxes--
November 23rd, 2010Committee meeting
Richard Dunn
Natural Resources committee That's correct. It's effectively a capital cost allowance. They're enabled with a 100% writeoff in the first year against taxable income. In Canada, historically, for development expenses, it's been a 30% declining balance, so it can take somewhere between five to seven years to
November 23rd, 2010Committee meeting
Richard Dunn
Natural Resources committee That's an excellent question. With the emergence of shale gas in the last few years, the price of natural gas has dropped by approximately 50% to 60%. When we embarked on work in the Horn River Basin, for example, gas would have been valued at somewhere between $7 and $8 per 1,00
November 23rd, 2010Committee meeting
Richard Dunn
Natural Resources committee No, the wells at this point are looked at on an individual well or pad basis together. Where the cumulative effects assessments are done, for example, up in the Horn River, is in the land use planning exercises. So rather than an individual permit, you'd look at bearing the accou
November 23rd, 2010Committee meeting
Richard Dunn
Natural Resources committee I believe it was our partners, Apache. They made that claim a while back, yes.
November 23rd, 2010Committee meeting
Richard Dunn
Natural Resources committee Yes, it's a fifty-fifty joint venture to develop properties up in the Horn River Basin, north of Fort Nelson.
November 23rd, 2010Committee meeting
Richard Dunn
November 23rd, 2010Committee meeting
Richard Dunn
Natural Resources committee Yes, we're doing it now.
November 23rd, 2010Committee meeting
Richard Dunn
Natural Resources committee Yes, absolutely, I agree with your comments on increasing public confidence and full disclosure. As well, I note that the recently developed regulations in British Columbia—the Oil and Gas Activities Act just implemented within the last few months—in fact require this disclosure
November 23rd, 2010Committee meeting
Richard Dunn
Natural Resources committee Thank you, Mr. Chair. Let me say right from the get-go, I appreciate the opportunity to present by video conference. It is probably a lot nicer in Ottawa: I think it was minus 28 degrees this morning in Calgary. As mentioned, I'm Richard Dunn, vice-president of government and r
November 23rd, 2010Committee meeting
Richard Dunn