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Shuttered junior gas company simply walked away from 4,700 wells, says Alberta Energy Regulator

from CBC News

The Alberta Energy Regulator says junior gas company Trident Exploration Corp. shut down abruptly without responding to an order to properly manage its 4,700 wells — adding to the more than 3,000 orphan wells already awaiting remediation in the province. Trident recently terminated 33 employees and 61 contractors, the company said in a news release. The privately held Calgary-based company said its abandonment and reclamation obligations are estimated to be $329 million and it doesn't expect any financial recovery for shareholders or unsecured creditors. more

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