The Athabasca Chipewyan First Nation issued a statement welcoming the decision, saying it was "a clear sign that oilsands development is no longer business as usual." "Now, more than ever, we can see the serious economic, environmental and treaty rights issues in the region are affecting the status quo of business," said the ACFN, which has launched numerous legal challenges of the regulatory process in the region and participated as interveners in the Pierre River project since 2007. Canada's big oil companies have slashed billions from their capital spending plans in recent months due to the drop in oil prices from more than $100 a barrel last year. Last month, oilsands giant Cenovus Energy Inc. (TSX:CVE) took $700 million out of its 2015 budget, released at the end of last year. Canadian Natural Resources Ltd. (TSX:CNQ) reduced its 2015 budget by $2.4 billion, while Suncor Energy Inc. (TSX:SU) cut its workforce by 1,000 and its budget by $1 billion.