Bankrupt energy firms add to Alberta's abandoned well problems - News Summed Up

Bankrupt energy firms add to Alberta's abandoned well problems


Smithers said that farmers and energy companies have a history of working well together, but he senses it is starting to shift. A recent court decision in Alberta, the Redwater Energy case, ruled that in the case of a bankruptcy, energy companies must use their remaining assets to pay back their lenders before cleaning up old well sites. On the other side of the case, was the Alberta Energy Regulator. A partially disassembled oil well sits on land owned by Dave Smithers. Bruder's problem could worsenTwin Butte Energy, the company that owns Bruder's well, is facing insolvency.


Source: CBC News June 14, 2016 12:56 UTC



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