Burgess Energy Holdings is paying an additional $50 million to convert its contingent bitumen royalty on Athabasca Oil Corp.’s thermal oil sands assets from a sliding scale to a linear scale, now based on WCS prices instead of the previous WTI benchmark. The new minimum triggers for the royalty are US$60/bbl for the Hangingstone SAGD project and US$70/bbl for Dover West, Birch and Grosmont. No royalty is assigned to the Leismer and Corner assets,......
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