CALGARY – A First Nation says it has signed a deal with a Chinese company to explore and develop oil and natural gas on its land near Calgary.
The Stoney Nakoda First Nation says it has signed an agreement with Hong Kong-based Huatong Petrochemical Holdings Ltd.
Get breaking National news
Under the terms of the deal, Huatong is to provide the funding and Nakoda Oil & Gas Inc. is to be the primary operator of the joint venture.
The Stoney reserve at Morley is about 60 km west of Calgary.
The First Nation says the Jumping Pound gas field has produced significant quantities of natural gas since 1951.
The Stoney Nakoda Nation includes members of the Bearspaw, Chiniki and Wesley bands.
- Calgary’s termination of Green Line adds extra frustration for expropriated Eau Claire residents
- Calgary police searching for sexual assault suspect after attack at swimming hole
- Home ownership feels out of reach for many in Calgary
- Kananaskis council planning fireguards to protect from wildfire threat
Comments