Putting Companies Under the Microscope
The AER issues new regulatory requirements to weed out bad operators
Companies wanting to operate in Alberta’s oil and gas industry will find themselves being examined through a stronger lens before they’re given the green light to do business in the province.
The Alberta Energy Regulator (AER) has made changes to the directive that sets the rules on how licences are granted to oil and gas operators. The new rules require companies to provide the AER with more information about themselves before the AER determines if they are eligible to receive a licence. This will help prevent people or companies that have left liabilities behind in the past from being able to operate again without proper safeguards.
“In Alberta, we live by a simple rule: if you’re going to profit from our energy resources, you must be responsible and properly abandon the infrastructure and reclaim the site,” said AER President and CEO Jim Ellis at the announcement in Edmonton. “From my perspective, operators shouldn’t profit from bad behaviour.”
Read the news release to learn more about these changes.