Alberta Energy Regulator Update – 2022 Liability Management Performance Report Published

In a press release today, the AER announced the publishing of its 2022 Liability Management Performance Report. According to the release, this is the first in a series of annual reports assessing how the “conventional oil and gas sector is managing the closure and cleanup of oil and gas wells, pipelines, and other facilities across the province.” Highlights of the first edition include:

• “Industry spent $696 million on cleanup, exceeding the $422 million spend requirement by 65%”
• “90% of licensees were compliant with their closure quota, leaving 51 noncompliant licensees with an outstanding amount of $4.2 million in missed closure quota. The 51 companies are listed in the report.”
• “In 2022, the inactive well count decreased by 9% – from 91 000 to 83 000.”

Find the original news release on the AER website HERE.