Page 26 - February 25, 2019
P. 26
Electricity
&
Oil & Gas
&
Monthly Update on the Energy Industry
A
Forestry
Minerals
&
&
Coal Mining
&
THE WEEKLY ANCHOR
MONDAY NOVEMBER 6, 2017 PAGE 17
EDUCA
EDUCATION IN ACTIONTION IN ACTION
PAGE 26 MONDAY FEBRUARY 25, 2019 THE WEEKLY ANCHOR
The Right Parts. Right Now.
Build that
Edson, AB Phone: (780) 723-6060 Build that
After Hours: (780) 723-1260
See us for all your Heavy Truck Needs
Pipeline!
Professional $14.50 Pipeline!
4921 - 11 Avenue
Passport Brian Janish Fax: 780-665-7392
Edson, AB T7E 1G1
OWNER
Photos at The Weekly Anchor 5040 3rd Avenue, Edson Office: (780)712-1610 Email: janish1@xplornet.com
THE WEEKLY ANCHOR MONDAY JULY 11, 2016 PAGE 3
A Monthly Update on the Energy Industry & Oil & Gas
ENERGY & Coal Mining New Public-Private Partnership to Accelerate
& Minerals
& Electricity
ENERGY EDUCATION IN ACTIONY EDUCATION IN ACTION
ENERG
&
Forestry
Supreme Court rules on the Redwater Appeal Sustainability Innovation in Oil Sands
On February 1, 2019 the Supreme Court of that reclamation and abandonment liabilities implications of the ruling.” – Brad Herald,
Canada released its ruling in the Orphan must be dealt with before there can be any Vice-President Western Canada Operations
Well Association v Grant Thornton Limited, distribution to the insolvent party's – CAPP.
(Redwater). creditors, including its secured creditors.
In overturning the Alberta Court of Appeal This decision has far-reaching implications
decision in Orphan Well Association v for all stakeholders in the industry.
Grant Thornton Limited-2017, the Supreme The Canadian Association of Petroleum
Court ruled that although trustees will not Producers has issued the following
be personally liable for abandonment and statement. “The Canadian Association of
reclamation obligations of orphan wells, the Petroleum Producers is encouraged with
estate will remain liable for those today's decision from the Supreme Court of
obligations. Canada. CAPP has argued on behalf of
The most significant effect of the decision industry that when a company declares
relates to the relative financial priority bankruptcy, the value of any assets should
between the company's creditors and the go to abandonment and reclamation costs
cost to reclaim abandon wells. first."
Prior to the Supreme Court's ruling, a "The Orphan Well Association, which is
trustee was entitled to sell economically funded by industry, should be a last resort
viable wells and direct the proceeds to the and only used after all other sources of
bankruptcy's creditors or secured lenders. In funding are exhausted."
the case of uneconomic wells they could be "CAPP believes that this judgment restores
essentially abandoned without accounting the balance between environmental
for the costs required to reclaim them. In obligations and creditor interests to that
essence downloading the reclamation cost to which existed for many years before this
someone else. case. CAPP will continue reviewing the
The supreme settled this issue by holding details of the judgment to assess the full
Distributed to major
oil & gas and energy Sales
leaders in the
region Rentals Scada Automation
* Edson *
* Hinton* Service Instrumentation
* Grande Cache *
* Drayton Valley * Installation Electrical
* Whitecourt *
The Oilpatch is published
the third week of every Randal Brown
month and is read by a When on the road, go with
broad section of energy Cell: (780) 712-0388
industry professionals, the names you can trust
from company executives Chris Robinson
to oil and gas personnel Cell: (780) 723-1270
and purchasing agents. It MORAD COMMUNICATIONS LTD.
also goes to oilfield
service companies, MORAD 5108-2 Ave., Edson
suppliers and equipment Ph: 723-3939; Fax: 723-3970 Box 6599 Edson, Ab T7E 1T9
manufacturers.
COMMUNICATIONS LTD. Hinton: (780) 865-4484 himarkcontrols@hotmail.com
! MAIN LINES Dwight Kennedy -
! GATHERING SYSTEMS Owner/General Manager
! COMPRESSOR STATIONS
! FABRICATION Ph: 780-723-6494
! LEASE WORK
! GENERAL OILFIELD Cell: 780-723-8045
MAINTENANCE Edosn, Alberta
N.P.P. Pipeline Installation
&
Oil & Gas
&
Monthly Update on the Energy Industry
A
Forestry
Minerals
&
&
Coal Mining
&
THE WEEKLY ANCHOR
MONDAY NOVEMBER 6, 2017 PAGE 17
EDUCA
EDUCATION IN ACTIONTION IN ACTION
PAGE 26 MONDAY FEBRUARY 25, 2019 THE WEEKLY ANCHOR
The Right Parts. Right Now.
Build that
Edson, AB Phone: (780) 723-6060 Build that
After Hours: (780) 723-1260
See us for all your Heavy Truck Needs
Pipeline!
Professional $14.50 Pipeline!
4921 - 11 Avenue
Passport Brian Janish Fax: 780-665-7392
Edson, AB T7E 1G1
OWNER
Photos at The Weekly Anchor 5040 3rd Avenue, Edson Office: (780)712-1610 Email: janish1@xplornet.com
THE WEEKLY ANCHOR MONDAY JULY 11, 2016 PAGE 3
A Monthly Update on the Energy Industry & Oil & Gas
ENERGY & Coal Mining New Public-Private Partnership to Accelerate
& Minerals
& Electricity
ENERGY EDUCATION IN ACTIONY EDUCATION IN ACTION
ENERG
&
Forestry
Supreme Court rules on the Redwater Appeal Sustainability Innovation in Oil Sands
On February 1, 2019 the Supreme Court of that reclamation and abandonment liabilities implications of the ruling.” – Brad Herald,
Canada released its ruling in the Orphan must be dealt with before there can be any Vice-President Western Canada Operations
Well Association v Grant Thornton Limited, distribution to the insolvent party's – CAPP.
(Redwater). creditors, including its secured creditors.
In overturning the Alberta Court of Appeal This decision has far-reaching implications
decision in Orphan Well Association v for all stakeholders in the industry.
Grant Thornton Limited-2017, the Supreme The Canadian Association of Petroleum
Court ruled that although trustees will not Producers has issued the following
be personally liable for abandonment and statement. “The Canadian Association of
reclamation obligations of orphan wells, the Petroleum Producers is encouraged with
estate will remain liable for those today's decision from the Supreme Court of
obligations. Canada. CAPP has argued on behalf of
The most significant effect of the decision industry that when a company declares
relates to the relative financial priority bankruptcy, the value of any assets should
between the company's creditors and the go to abandonment and reclamation costs
cost to reclaim abandon wells. first."
Prior to the Supreme Court's ruling, a "The Orphan Well Association, which is
trustee was entitled to sell economically funded by industry, should be a last resort
viable wells and direct the proceeds to the and only used after all other sources of
bankruptcy's creditors or secured lenders. In funding are exhausted."
the case of uneconomic wells they could be "CAPP believes that this judgment restores
essentially abandoned without accounting the balance between environmental
for the costs required to reclaim them. In obligations and creditor interests to that
essence downloading the reclamation cost to which existed for many years before this
someone else. case. CAPP will continue reviewing the
The supreme settled this issue by holding details of the judgment to assess the full
Distributed to major
oil & gas and energy Sales
leaders in the
region Rentals Scada Automation
* Edson *
* Hinton* Service Instrumentation
* Grande Cache *
* Drayton Valley * Installation Electrical
* Whitecourt *
The Oilpatch is published
the third week of every Randal Brown
month and is read by a When on the road, go with
broad section of energy Cell: (780) 712-0388
industry professionals, the names you can trust
from company executives Chris Robinson
to oil and gas personnel Cell: (780) 723-1270
and purchasing agents. It MORAD COMMUNICATIONS LTD.
also goes to oilfield
service companies, MORAD 5108-2 Ave., Edson
suppliers and equipment Ph: 723-3939; Fax: 723-3970 Box 6599 Edson, Ab T7E 1T9
manufacturers.
COMMUNICATIONS LTD. Hinton: (780) 865-4484 himarkcontrols@hotmail.com
! MAIN LINES Dwight Kennedy -
! GATHERING SYSTEMS Owner/General Manager
! COMPRESSOR STATIONS
! FABRICATION Ph: 780-723-6494
! LEASE WORK
! GENERAL OILFIELD Cell: 780-723-8045
MAINTENANCE Edosn, Alberta
N.P.P. Pipeline Installation
