The number of oil and gas wells abandoned by industry has expanded dramatically as depressed commodity prices forced operators into bankruptcy.
Alberta’s inventory of wells without an owner financially capable of cleaning them up roughly doubled this year to 1,400, a clear indicator of the turmoil that rattled Alberta during the recession.
The surge means taxpayers will be on the hook to pay landowners annual rents to compensate them for use of their properties until the sites are returned to a natural state. And property owners are seeking compensation in record numbers.
Reid Southwick – Calgary Herald, December 28, 2016.
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