Posted AT 7:21 PM EST on 26/10/07
Drillers axing winter plans ahead of new royalty regime
CALGARY — Alberta's new energy royalty regime will cut into this year's winter drilling season, reducing employment and the number of wells started by already beleaguered oil field services companies, industry observers say.
On Thursday, Alberta Premier Ed Stelmach announced long-awaited changes to the province's royalty picture, increasing the government's take from oil and gas production.
The changes do not take effect until 2009.
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