The bankruptcy of an energy company that plans to walk away from thousands of gas wells may be a sign lenders are changing how they look at the industry in light of a recent Supreme Court ruling. “The credit industry is evolving the way it looks at risk,” said Brad Herald, a vice-president with the Canadian Association of Petroleum Producers. The bankruptcy of a Calgary energy company that plans to walk away from thousands of gas wells may be a sign lenders are changing how they look at the industry in light of a recent Supreme Court ruling. That ruling came after thousands of wells from bankrupt companies were off-loaded to the Orphan Well Association, which pays for cleanup from a levy paid by all energy companies. She said the government and regulator could start by providing a clearer picture of the energy industry’s environmental liabilities in the province.

Source: thestar May 02, 2019 19:27 UTC