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How Are Service Companies To Get Part of the $4.4 M That Will be Spent Daily Over 46 Days?

The Government of Alberta and the Government of Canada will be handing out $200 million to help energy services companies tackle the abandoned well problem in Western Canada.

The program is called the Site Rehabilitation program and it is part of a $1.7 billion plan to clean up wells that are no longer financially viable.

In this video we look at the increase in the amount of spend on a daily basis over a 46 day period, from May 1st to June 15th, 2020, where the Site Rehabilitation Program will fund 100% of well abandonment or reclamation projects up to $30,000 per project.

Some key points:

  • There will be up to 17 X's more money spend daily from the Site Rehabilitation Program compared to the Orphan Well Association during this time

  • During the same period of time there will be a minimum of 33 X's more well abandonment projects funded

Here are the links to the Government of Alberta website for more on the Site Rehabilitation Program:

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