CALGARY - The Alberta Orphan Well Association says it has taken the “unprecedented” step of having a receiver appointed to manage the oil and gas assets of failed Trident Exploration. The industry association that takes care of wells in Alberta when the owner can’t or won’t says accounting firm PricewaterhouseCoopers has been appointed by a court to maintain the company’s roster of more than 4,400 wells, pipelines and other licensed oil and gas assets. A pumpjack works at a well head on an oil and gas installation near Cremona, Alta., Saturday, Oct. 29, 2016. The Alberta Orphan Well Association says it has taken the "unprecedented" step of having a receiver appointed to manage the oil and gas assets of failed Trident Exploration. It blamed its demise on low natural gas prices and high lease and property tax bills, along with capacity constraints on TransCanada Corp.’s NGTL gas pipeline system.

Source: thestar May 03, 2019 21:00 UTC