Alberta to Maintain, Sell Oil Wells Orphaned by Owners

Alberta’s legislature passed a bill to expand the government’s power to maintain, sell, or close oil and gas well that have lost their owners to bankruptcy.

Bill 12, the Liabilities Management Statutes Amendment Act, received final approval from the legislature Thursday. It must still to go through the formality of receiving royal assent from the lieutenant governor to officially become law, a process that normally takes a few days.

The legislation was fast-tracked in recent days because it will provide jobs as Alberta struggles from the economic effects of the global oil price war and the new coronavirus outbreak, House ...