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:
https://www.alberta.ca/release.cfm?xID=70157C2391212-E275-B8DA-3FCC685A421CE43F
https://www.alberta.ca/site-rehabilitation-program.aspx
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