By Gary McKinnon

TRIDENT NO MORE

Trident Exploration goes under

May 2, 2019 | 7:00 AM

CALGARY- The Alberta Energy Regulator has a mess on its hands after a Calgary oil and gas company walked away from its 4,700 wells across the province.

Trident Exploration says it has ceased operations and terminated its workforce.

The company says its abandonment and reclamation obligations are estimated to be $329,000,000 and it doesn’t expect any financial recovery for shareholders or unsecured creditors.

Earlier this week, Trident terminated 33 employees and 61 contractors.

taking off!

Girls in Aviation Day soars to new heights in showcasing career options

Sep 21, 2024

wiped out fort mac job action a concern

CUPE members hold 'day of action' for educational assistants and support staff

Sep 21, 2024

happened sept. 19

Pair arrested after daylight shooting in Red Deer

Sep 21, 2024

The company blames its demise on low natural gas prices and high lease and property tax bills, along with capacity constraints on TransCanada’s gas pipeline system.

The AER says it will ensure that the public and the environment are protected and will assess any high-risk sites to ensure there are no immediate risks.

It will also work to have the wells transferred to responsible operators, safely decommissioned, or, as a last resort, transferred to the Orphan Well Association.

(The Canadian Press)