MGM gives up Mackenzie Delta conventional licenses

A corrected version of this story was posted June 4.

MGM Energy Corp., Calgary, said it has surrendered exploration licenses in Canada’s Mackenzie Delta region, where the company had been exploring for conventional gas for the proposed Mackenzie gas pipeline.

MGM Energy has turned back EL 456, EL 457, EL 450, and EL 459, currently scheduled to expire in January 2016, and consolidated EL 461, which is scheduled to expire in June.

With the surrender, MGM Energy is relieved of its obligation to fulfill its commitments relating to the licenses, including $6.3 million that was due to be paid in June.

The relinquished licenses are in the islands region of the Beaufort/Mackenzie Delta southwest of Tuktoyaktuk, and are 700 km northwest of and unrelated to the company’s Canol shale play in the Central Mackenzie Valley, where MGM Energy continues to pursue its opportunities.

Related Articles

Tethys reports second successful gas well in Kazakhstan

03/20/2014 Tethys Petroleum Ltd. reported the success of the second shallow gas exploration well of its 2014 program on the Akkulka block in the Caspian regio...

BOEM: Firms bid $850 million in high bids in central gulf lease sale

03/19/2014 The US Bureau of Ocean Energy Management reported that its central Gulf of Mexico Lease Sale 231 received 380 bids from 50 companies on 326 blocks,...

CNOOC makes gas discovery in Qiongdongnan basin


CNOOC Ltd. has made a natural gas discovery in the east Lingshui Sag of the deepwater area in the South China Sea’s Qiongdongnan basin.

Cairn, FAR to drill exploration wells offshore Senegal


FAR Ltd., Perth, will participate in the drilling of two deepwater exploration wells offshore Senegal next month.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected