Craig Bryksa named interim president and chief executive.
The feds will take over construction, likely in August, with a view to eventually selling the whole thing down the road.
Financial discussions continue, but he also says there is nothing yet to say publicly.
Arrested in March protesting the Trans Mountain pipeline expansion in Burnaby, BC.
Japex has abandoned the development due to low oil prices and the technical risks of reactivating the wells.
Initiative aims to enable better early detection and repair of methane leaks.
Energy producer charged under Environmental Protection and Enhancement Act, could face $500K penalty.
Former Suncor CEO was battling acute myeloid leukemia.
2016 decision ruled assets from bankrupt energy companies should go first to creditors, not to cleaning up abandoned oil wells.
What started in the 1920s as Robert Fitzsimmons’ ticket to riches has turned into an industry that attracted $34 billion in investment in 2014.
Data shows oil sands reserves from 68 US-listed companies dropped by about 7.7 billion barrels.
Company says construction on its first phase may begin in 2024.
Research focuses on volatile organic compound, which can be damaging to the environment and human health.
Company will spend $650 million in 2019 to drill up to 120 wells in the Deep Basin of northeastern BC and northwestern Alberta.
Analysts note there are fewer significant assets available after more than a year of consolidation transactions.