Alberta government to relax rule on buying oil, gas wells if municipal taxes unpaid [Video]

The Alberta government plans to relax a rule that requires energy companies seeking to buy viable wells from bankruptcy proceedings to first pay all the failed producer’s outstanding taxes.

“I have informed the Alberta Energy Regulator and the Orphan Well Association that my office will be amending the order in a way that will protect the value of productive assets and ensure that they can be acquired by responsible operators,” said Energy Minister Brian Jean in an email.

“We believe that a significant minority of the assets sent to the (association) in the recent past will be found attractive by industry.”

In March 2023, Jean’s office issued an order to the energy regulator requiring it to consider whether an energy company’s tax payments were up-to-date before the company’s licences could be transferred to another owner.

The move was in response to concerns from rural municipalities over growing tax arrears from companies …