Tag: liability
Is Pengrowth dumping $63 million of well/facility cleanup liability?
“Sale was to one company and we are not disclosing the buyer nor the exact proceeds.” – Pengrowth Pengrowth Energy Corporation announced Wednesday that it has entered into an agreement to sell “matured legacy assets” from 36 properties – including 270 facilities and 1,600 wellbores – for a nominal cash consideration, ridding itself of perhaps […]
Alberta must take action on abandoned oil and gas wells – CD Howe Institute
“Society should accept some risk in exchange for greater economic activity.” – study If Alberta doesn’t change how it requires companies to finance their own oil and gas well cleanup costs, the energy industry and, ultimately, taxpayers in Alberta face cleanup costs of up to $8 billion, according to a report by the C.D. Howe […]
Kinder Morgan, BP partner to purchase 15 American refinery terminals
Kinder Morgan will own a 75% interest in JV, with BP owning the balance. Kinder Morgan, Inc. today announced it has finalized agreements with BP Products North America Inc. to acquire 15 refined products terminals and associated infrastructure in the United States in a transaction valued at approximately $350 million. Kinder Morgan and BP will […]
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