Fort McKay First Nation eyes payday with new lease for bitumen production on lands - Windspeaker.com
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Article Excerpt
Fort McKay First Nation eyes payday with new lease for bitumen production on lands
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Monday, March 11th, 2024 10:21am
By Shari Narine
Local Journalism Initiative Reporter
Windspeaker.com
A potential new deal with Suncor Energy could generate up to $2.25 billion in royalties for Fort McKay First Nation over five years if full bitumen production is realized from a lease on reserve land.
It’s an estimated figure based on a concept, said Chief Raymond Powder, which is dependent on the price of West Texas Intermediate, a grade of crude oil, with a barrel of oil set…
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