Alberta government shelves plan to give companies incentives to clean up oil and gas wells until after election
A new program being considered by the Alberta government to provide incentives to clean up old oil and gas wells will be delayed until at least the fall – months after the provincial election slated for May.
The proposed program would provide producers with royalty credits to offset legally required abandonment and reclamation expenditures, essentially allowing them to pay a lower royalty rate on new fossil-fuel production until they have paid off the cost of reclaiming older, inactive sites on their books. It stems from a pitch Premier Danielle Smith made to then-energy minister Sonya Savage at the behest of oil and gas companies in 2021, back when Ms.
With consultations currently under way, Mr. Guthrie said it’s important to “keep an open mind” about suggestions for the program to improve it and “maximize its full potential.” Eligibility criteria would apply to sites owned by viable companies and those on Alberta’s orphan well inventory. Sites are added to the orphan list when they have no owner that can pay for their clean-up. As of Feb. 1, the association’s inventory included 3,114 sites that needed to be decommissioned and 6,752 that had been decommissioned but needed to be returned to their natural state.
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