Report calls for time limits on inactive oil and gas wells in Alberta

Ian Bickis, The Canadian Press

Concerns on the growing liability of idle oil and gas wells in Alberta has a researcher at the University of Calgary calling for limits on how long companies can wait to reclaim them.

A report Wednesday by Lucija Muehlenbachs at the university’s School of Public Policy says that most of the roughly 80,000 inactive wells in the province likely wouldn’t be restarted, even if oil prices or technology significantly improve.

“Looking at what we’re seeing in the data of wells moving in and out of activity, it’s very rare,” Muehlenbachs said.

Read Full Article