Osler represented the Owners of the Terra Nova Project (consortium consists of Suncor, Murphy Oil, Chevron Canada, ExxonMobil, Husky Energy, Statoil and Mosbacher Operating) in a challenge to the Province of Newfoundland and Labrador over its calculation of past and ongoing provincial royalties’ payable by the Owners.
The Terra Nova Project is located in the east coast offshore area and remains one of the few areas where oil and gas exploration continues in Canada. The development of this resource in the east coast contributes significantly to Atlantic Canada’s economy.
The matter was heard in April and May 2017 at the Supreme Court of Newfoundland and Labrador. Judgment was reserved. Ultimately, and before judgment was rendered, the parties entered into a confidential settlement agreement with respect to all matters raised in the Owners’ application.
Osler, Hoskin & Harcourt LLP represented the Owners with a team consisting of Maureen Killoran Q.C. and Olivia Dixon (Litigation) and Simon Baines (Energy).