Quote:
Originally Posted by Rutuu
Trident Exploration Co has tipped over adding 4700 wells to the orphan well fund, nearly doubling the current size. In fact tripling its size from 2yrs ago before the Sequoia bankruptcy. Redwater getting turned over changes the debt waterfall overruling bankruptcy law and putting clean up before creditors. The company's 33 employees and 61 contrctors have been let go.
https://www.citynews1130.com/2019/05...it-shuts-down/ |
I'd be shocked if it made it to the OWA, at least in its current form. Sequoia still hasn't made it to the OWA. The AER is still scratching its head on what to do there.
To be clear Trident wasn't put into receivership by their lenders, they just closed the doors and handed all the wells over to the AER.