Obsidian (OBE) Resumes Production at Harmon Valley South Field [Yahoo! Finance]
Archrock, Inc. (AROC)
Last archrock, inc. earnings: 2/19 07:16 pm
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Source: Yahoo! Finance
company is reportedly resuming production in its Harmon Valley South field, located in the Peace River area. Obsidian had landed in a dispute with WCFN in February because the latter suspected OBE of not informing it about its expansion plans within its traditional territory. WCFN was also concerned about seismic activity in the region related to Obsidian's operations. Following the dispute with Woodland Cree, the company had to halt production at two of its sites last month. Obsidian went ahead and obtained a court injunction to remove the blockade. However, despite being granted the injunction, the local RMCP did not take the necessary steps to enforce it. OBE commented that it was being pressurised into giving First Nation a monopoly on its work sites. The upstream player has now resolved the dispute and entered into an agreement in principle with WCFN, following which the blockade has been removed. The two parties had engaged in long and detailed discussions before arriving at
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