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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