Source: The Canadian Press, January 31, 2019
The Supreme Court of Canada is set to rule Thursday on whether energy companies can walk away from unprofitable wells on agricultural land without having to clean up behind them.
A 2016 ruling in the Alberta Court of Queen’s Bench allowed a bankrupt energy company to sever its connection with unprofitable and unreclaimed wells when their assets were sold off to creditors.
The Alberta Court of Appeal upheld the ruling. Since the case came to court, an estimated 1,800 wells representing more than $100 million in liabilities have been abandoned.
For the latest information and for more updates on everything Kindersley ‘Like’ the Kindersley Social Facebook page below…
