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“My guiding principle is the economic health of Alberta, job creation and maintenance, and as a result of that the sustainability of the industry.”

The review is intended to determine whether Albertans, as owners of the resources, are receiving an appropriate share of the benefits from oil and natural gas. The NDP also wants to determine whether it can find incentives for more upgrading in the province.

Notley said a decision on the timing of the review will be made after a new cabinet and energy minister are appointed and the issue can be discussed more thoroughly.

“It will happen within this term and it will be preceded by good, thorough discussions with all stakeholders, including industry. No one will be surprised by the way it unfolds,” said Notley, who has been reaching out to oilpatch executives.

Encana CEO Doug Suttles said Tuesday that Notley had called on her own initiative to discuss energy issues.

Suttles said he doesn’t expect quick policy changes given that Notley is still putting together her government.

“The core of the conversation was, ‘Let’s make sure we talk as you consider alternatives. If we can in any way support with information or insight we’re happy to provide that,’ ” he told reporters at the company’s annual general meeting in Calgary.

Reviewing royalties has been a touchy issue in Alberta since Tory Premier Ed Stelmach’s overhaul in 2007, which saw the government increase royalties and then roll some back after criticism from the oil and natural gas industry. Producers suggested royalty increases compounded the effects of falling demand and low commodity prices during the 2008 economic downturn.