As many are aware in the oil and gas service sector, the federal government has announced that they will be spending upwards of $1.7 Billion on well abandonments and well site reclamations in the near future.
In this post we will be looking at the impact of the first go round of funding on the minimum amount of wells that can be abandoned.
A few highlights of the $200 Million that will be spent:
There will be potentially at a minimum 8.3 X’s more wells abandoned compared to the amount of wells abandoned by the Orphan Well Association (OWA) in Alberta
On a daily basis, their will be 35 X’s more money spend in 46 days compared to their entire OWA spend on well abandonments last year
Since this will add a significant amount of workload to any company, companies will need to look for ways to streamline their operations. This is where Enter My Invoice can help with our ticketing application, e-invoice portal integrations and accounting systems integrations so that suppliers can get invoices out the door faster.
To find our how you can automate your field ticketing process and automate your invoice entry into Cortex, OpenInvoice and other e-invoicing portals, contact Enter My Invoice at 1-800-375-0967 or email@example.com