During the first quarter of 2023, Obsidian Energy Ltd. spent $8.7 million on decommissioning expenses to progress its environmental remediation efforts with a focus on abandoning and reclaiming inactive fields in Northern and Eastern Alberta.
May 4, 2023, 7:28 AM MDT
Preliminary results indicate that the energy industry spent about 40 per cent more in 2022 than required under the annual minimum mandatory closure spend to close oil and gas sites, reported the Alberta Energy Regulator (AER).
April 27, 2023, 10:54 AM MDT
Over 8,800 inactive oil and gas wells and facilities in Saskatchewan were capped or closed under the Accelerated Site Closure Program (ASCP), said the government.
April 10, 2023, 12 AM MDT
In 2022, Obsidian Energy Ltd. undertook the largest development program in several years.
February 23, 2023, 6:43 AM MST
Some critics of the Liability Management Incentive Program (LMIP) question why companies are being incentivized to perform a task they are already legally bound to complete.
February 22, 2023, 4:03 PM MST
The Alberta Energy Regulator (AER) is accepting feedback on its draft Requirements for Site-Specific Liability Assessment.
January 9, 2023, 8:27 AM MST
Baytex Energy Corp. expects to invest $40 million in 2023 to progress plans to decarbonize and shrink the environmental footprint of its operations.
December 8, 2022, 12 AM MST
November 22, 2022, 6:56 AM MST
During the first nine months of 2022, Bonterra Energy Corp. continued to efficiently manage its abandonment and reclamation obligations.
November 10, 2022, 12 AM MST
With recently-enhanced “tools” at his disposal, combined with exploration and development oil and gas companies currently flush with extra cash because of a prolonged spike in commodity prices, the head of the Alberta Energy Regulator (AER) is pleased with the progress of well reclamation efforts in the province.
September 8, 2022, 12 AM MDT
Saturn Oil & Gas Inc.’s land reclamation program (LRP) was initiated in December 2021 with the goal of returning land previously leased for oil and gas production to landowners in pristine condition.
September 7, 2022, 8:36 AM MDT
Crew Energy Inc. continued to participate in provincially-funded dormant well programs, having abandoned 20 wells to date in 2022.
August 9, 2022, 12 AM MDT
Paramount Resources Ltd.’s planned 2022 capital expenditures have been hiked by $80 million at the midpoint to a range of between $600 million and $640 million.
August 3, 2022, 4:19 AM MDT
Well abandonment activity continues to trend higher as a result of the looming end of the Canadian federal government's $1.7 billion stimulus package to help fund the closure and reclamation of orphan and inactive wells in the Western Canadian Sedimentary Basin (WCSB), which is scheduled to end early next year.
August 2, 2022, 12 AM MDT
The Alberta Energy Regulator (AER) has increased the industry-wide closure spend target for liabilities in 2023 to $700 million from $422 million and released forecasted targets through 2027, which are anticipated to increase annually by nine per cent.
June 28, 2022, 1:29 PM MDT
From 2019 to 2022, Obsidian Energy Ltd. has properly abandoned 1,033 wells, discontinued and abandoned 2,650 kilometres of pipelines, abandoned 60 facilities and received 287 reclamation certificates, said Cliff Swadling, vice-president of operations.
June 17, 2022, 12 AM MDT
Clearview Resources Ltd. remained active in the field in the first quarter of 2022, reactivating two gross (2.0 net) wells and optimizing several wells throughout the company's core operating areas.
May 30, 2022, 7:53 AM MDT
The Indian Resource Council of Canada (IRC) is calling on the federal government to continue funding Period 6 of Alberta’s Site Rehabilitation Program (SRP) — the First Nations’ Site Rehabilitation Program (FNSRP).
May 19, 2022, 12 AM MDT
Kiwetinohk Energy Corp. has ticked key boxes on its path to final investment decisions for two major low-carbon projects in its portfolio.
May 18, 2022, 12 AM MDT
360 Energy Liability Management Ltd. (360) announced the strategic acquisitions of SHARP Environmental (2000) Ltd. and Owl River Environmental Services Ltd.
May 17, 2022, 7:50 AM MDT
Cardinal Energy Ltd. expects to exceed production guidance for the year after a successful 10-well drilling program in the first quarter — including four Clearwater oil wells, two Dunvegan light oil wells and four wells in its Southern Alberta area — increased current output.
May 13, 2022, 10:02 AM MDT
InPlay Oil Corp. continues to reduce its inactive well liability.
May 11, 2022, 7:57 AM MDT
Bonterra Energy Corp. successfully abandoned 51.2 net wells, 12.0 net pipeline segments and decommissioned 2.0 net battery sites in Q1 with support from the Alberta Site Rehabilitation Program (SRP).
May 10, 2022, 3:28 PM MDT
During the first quarter of 2022, Obsidian Energy Ltd. completed the last substantial component of its inactive legacy portfolio decommissioning.
May 4, 2022, 8:28 AM MDT
SECURE Energy Services Inc. expects sustaining capital in 2022 to be $55 million, including capital expenditures related to landfill expansions of $15 million.
April 28, 2022, 6:05 AM MDT
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