​Jorie`s Holdings Inc

Daily Rig Locator

  • Home

  • Forum

  • Projects

  • About

  • Clients

  • Contact

  • Blog

  • More

    Use tab to navigate through the menu items.
    To see this working, head to your live site.
    • Categories
    • All Posts
    • My Posts
    jorie905
    Mar 03, 2020

    Alberta boosts oil well clean-up to create jobs March 2, 20201:44 PM Reuters0 Comments The oil-producing Canadian province of Alberta is in

    in Oilfield News Updates

    Alberta boosts oil well clean-up to create jobs

    March 2, 20201:44 PM Reuters0 Comments

    1. The oil-producing Canadian province of Alberta is increasing its financial support for cleaning up wells without owners, addressing an environmental liability as it creates jobs in the slumping industry.Premier Jason Kenney said on Monday that Alberta would loan up to C$100 million ($74.95 million) to the Orphan Well Association, which is funded by energy companies, to decommission 1,000 additional wells, doubling its pace.The move will create as many as 500 direct and indirect jobs for oil services companies that perform the work, Kenney said.Alberta, which produces most of Canada’s oil, has struggled for years with low prices made worse by congested pipelines and the flight of investors and foreign oil companies. Last week, Teck Resources canceled plans for a massive oil sands mine.There are an estimated 6,500 Alberta orphan wells, a term for wells whose owners have gone out of business, said Lars DePauw, the association’s executive director.The latest cash injection supplements a previous C$235 million provincial loan to the association, which it started repaying last year.

    0 comments
    0
    Comments
    0 comments
    Similar Posts
    • Alberta agrees to divest crude by rail contracts February 11, 20201:20 PM Reuters0 Comments The Canadian province of Alberta has agreed to
    • Heavy discount widens as monthly trading cycle begins April 1, 20201:50 PM Reuters0 Comments Alberta oil well in canola field Canadian hea
    • Heavy discount narrows as production cuts mount May 4, 20201:33 PM Reuters0 Comments Southern Alberta Oil Well Southern Alberta Oil Well Ca
    • Twitter Clean
    • w-googleplus
    • Home

    • Forum

    • Projects

    • About

    • Clients

    • Contact

    • Blog

    • More

      Use tab to navigate through the menu items.