thomas201 wrote:
Having approved the plugging of several hundred wells, you are getting hosed at 1 million each, even accounting for the exchange rates. Someone is not being honest, or misunderstood. Even a horizontal should run less than 50k. Canada doesn't make the companies post a bond? In the US the state (Feds, state, local in that order) come right behind court costs when you go bankrupt. Sell the good wells, sell the pipe and facilities, equipment and so on. That should pay for the plugging. Even secured creditors are behind the government. Maybe the great white north has different laws? Can't believe the companies don't post bonds.
Here is an article about it. The numbers are staggering to me. It appears 58 billion / 91000 = 2.8 million per site.
https://theconversation.com/the-growing-cost-to-clean-up-abandoned-and-orphaned-wells-143673
