Old, unproductive oil and gas wells could cost up to $70B to clean up, says new report
‘The mess continues to grow,’ says landowner stuck with abandoned well
Kyle Bakx – CBC News
Hustle in the oil patch: Inside a looming financial and environmental crisis – Investigation
Provincial governments / taxpayers have already paid $335-million to prop up the cleanup fund since 2014 after the previous oil and gas price crash.
The industry didn’t set enough aside during the many boom years when had record profits. The Alberta Energy Regulator for years have allowed producers including larger ones to sell many wells nearing the end of their life with huge cleanup liabilities to questionable companies that later declare bankruptcy and leave the cleanup fund and tax payers on the hook.
Last week the regulator appointed a new CEO, after three investigations concluded that the former chief executive officer and his top lieutenants tried to carve out a lucrative new business for themselves when they started a side project to provide regulatory training to other jurisdictions.
Tuesday’s bill will likely factor into a current investigation by Alberta’s Auditor-General Doug Wylie, who is looking at whether the regulator’s systems are sufficient for dealing with orphan wells and preventing the number of sites from increasing.
Expanded powers for Alberta orphan well group could allow it to operate pipelines, produce oil
Expanded roles will help reduce the number of orphaned wells in Alberta, government says
Janet French – CBC News
Posted: March 31, 2020
Last Updated: March 31, 2020
If approved by the legislature, the changes would allow the Orphan Well Association to produce oil from abandoned, viable while attempting to find a buyer. (Orphan Well Association)
Investigators say former Alberta Energy Regulator CEO ‘grossly mismanaged’ public funds
Author of the article:Janet French
Publishing date:October 5, 2019
Alberta expands powers of agency that oversees orphan well reclamation
EMMA GRANEYENERGY REPORTER
PUBLISHED 1 DAY AGO
UPDATED MARCH 31, 2020
Archive of above Globe article.
This is an important matter of public interest.