Alberta seeks to lessen financial hit of Supreme Court ruling on orphan wells - 2019-11-14

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F182.png Alberta seeks to lessen financial hit of Supreme Court ruling on orphan wells November 14, 2019, Tony Seskus, CBC News

Alberta Premier Jason Kenney is vowing his government will do "everything" it can to mitigate the impact he says the Supreme Court's Redwater ruling on orphan wells is having on oilpatch investment.

Earlier this year, the country's top court ruled energy companies must fulfil their environmental obligations before paying back creditors in the case of insolvency or bankruptcy.

Insolvency professionals and banks had both warned prior to the decision that such a ruling could decrease the amount of financing available to the oil and gas industry.

Wikipedia cite:
{{cite news | first = Tony | last = Seskus | title = Alberta seeks to lessen financial hit of Supreme Court ruling on orphan wells | url = https://www.cbc.ca/news/canada/calgary/kenney-redwater-investment-consequences-1.5359734 | work = CBC News | date = November 14, 2019 | accessdate = November 15, 2019 }}