energy/osa_escalating_rent_areas (MapServer)

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Service Description: Oil Sands Areas help facilitate orderly leasing and stable regulation for oil sands development. Oil Sands leases give the holder the right to explore Oil Sands.Non-producing continued leases are subject to the payment of escalating rent. Operators that choose to keep non-producing continued leases may hold these leases indefinitely, subject to the payment of escalating rent and to compliance with notices served under Part 3 of the Oil Sands Tenure Regulation, 2020.The escalating rent for Area A begins at $3 per hectare and doubles every three years until a cap of $96 per hectare is reached, when the lease enters its 16th year of non-production. The escalating rent for Area B begins at $7 per hectare and doubles every three years until a cap of $224 per hectare is reached, when the lease enters its 16th year of non-production.Alberta Oil Sands Tenure Guidelines: Principles & Procedureshttps://www.alberta.ca/oil-sands-tenure-guidelines.aspx

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Description: <DIV STYLE="text-align:Left;"><DIV><DIV><P><SPAN>Oil Sands Areas help facilitate orderly leasing and stable regulation for oil sands development. Oil Sands leases give the holder the right to explore Oil Sands.</SPAN></P><P><SPAN>Non-producing continued leases are subject to the payment of escalating rent. Operators that choose to keep non-producing continued leases may hold these leases indefinitely, subject to the payment of escalating rent and to compliance with notices served under Part 3 of the Oil Sands Tenure Regulation, 2020.</SPAN></P><P><SPAN>The escalating rent for Area A begins at $3 per hectare and doubles every three years until a cap of $96 per hectare is reached, when the lease enters its 16th year of non-production. The escalating rent for Area B begins at $7 per hectare and doubles every three years until a cap of $224 per hectare is reached</SPAN><SPAN>,</SPAN><SPAN>when the lease enters its 16th year of non production.</SPAN></P><P><SPAN>Alberta Oil Sands Tenure Guidelines: Principles & Procedures</SPAN></P><P><SPAN>https://www.alberta.ca/oil-sands-tenure-guidelines.aspx</SPAN></P></DIV></DIV></DIV>

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Copyright Text: Alberta Energy and Minerals, Government of Alberta

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