Oil firm ceasing operations, leaving thousands of untended Alberta wells
from The Canadian Press via EnergyNow
A massive number of oil and gas wells, facilities and pipeline segments stand to be added to the already bulging files of the Alberta Orphan Well Association in the wake of the likely failure of Sequoia Resources Corp. All of the Calgary-based company's operating licences were ordered suspended after the privately-held oil and gas company warned the Alberta Energy Regulator late last month it was ceasing operations "imminently" and, as a result of "defaults in municipal tax payments," would not be able to afford to reclaim all of its properties.
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