The Alberta Energy Regulator (AER) has considered feedback on its interim measures to protect Albertans from unfunded liabilities and issues Bulletin 2016-21 to clarify the requirements. The AER reiterates that the interim measures are necessary to protect Albertans from unfunded liabilities. The liability management rating (LMR) of 1.0 is not sufficient to ensure that licensees will be able to address their obligations throughout the life cycle of energy development; therefore, [Read more]
Licensee Eligibility – Alberta Energy Regulator Measures to Limit Environmental Impacts Pending Regulatory Changes to Address the Redwater Decision
On May 19, 2016, the Alberta Court of Queen’s Bench issued its decision in a matter involving a dispute between the receiver of Redwater Energy Corporation (Grant Thornton Limited), the Alberta Treasury Branches, the Alberta Energy Regulator (AER), and the Orphan Well Association (OWA) (the Redwater decision). The Court found that receivers and trustees of AER licensees may selectively disclaim unprofitable assets (and their associated abandonment and reclamation obligations) under section [Read more]