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CS - Alberta loaning $100MM for cleanup of 1,000 orphan wells - March 2020

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Alberta is extending a $100 million loan to the industry-funded Orphan Well Association, enabling the organization to decommission 1,000 wells and start over 1,000 environmental site assessments for reclamation. The province said the loan will help create up to 500 direct and indirect jobs in the oilfield services sector. Alberta previously loaned the OWA $235 million, which the association began repaying last year using money from the industry’s orphan fund levy. The Canadian Association......
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