Quote:
Originally Posted by Fuzz
Right, and I don't know how the Orphan well program is run, but to me it would have made sense for the funds to go to them, they choose which wells get cleaned up, and hire it out to the service companies. None of the companies currently operating functional wells should have gotten anything.
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I agree, solvent companies getting clean up money is a stain.
I worked for the orphan fund many moons ago when they had 220 wells.
They basically have money (mostly paid by for industry). they took in $178MM last year but really cannot spend it all due to manpower limitations, they always have some left in the hopper. Especially with remediation, those things take 1- 10 years to get done.
They did spend 863MM of that $1B. I wonder who got the most of it.