CALGARY — Junior oil and gas company Trident Exploration Corp. says it is ceasing operations and will turn over care of its 4,700 wells to the Alberta Energy Regulator.In a news release, the privately held Calgary-based company says its abandonment and reclamation obligations are estimated to be $329 million and it doesn’t expect any financial recovery for shareholders or unsecured creditors.It says it terminated 33 employees and 61 contractors on Tuesday.The company blames its demise on low natural gas prices and high lease and property tax bills, along with capacity constraints on TransCanada Corp.’s NGTL gas pipeline system.It says a restructuring and sales process with its lenders failed due to issues it linked to January’s Supreme Court of Canada decision on insolvent Redwater Energy.The high court ruled that energy companies must fulfil their environmental obligations before paying back creditors in the case of insolvency or bankruptcy, overturning lower court decisions that had favoured bankruptcy law over provincial environmental responsibilities.“As many have speculated and we have now unfortunately proven, the Redwater decision has had the unintended consequence of intensifying Trident’s financial distress and accelerating unfunded abandoned well obligations,” the company stated Wednesday.“Without regulatory collaboration and clarity, Trident is unable to address its near-term liquidity needs and has no financial ability to continue operating. We fear that many other companies may falter without clear, sound policy making post-Redwater.”“In the face of this extended uncertainty, lenders and investors may flee Canada and further job losses will occur. Without access to financing, we expect that the Orphaned Well Association may grow exponentially,” the company said.The Alberta Energy Regulator said it ordered the company on Monday to properly manage its approximately 4,400 energy licenses by addressing end-of-life obligations through decommissioning its sites, posting financial security, or transferring the sites to responsible energy companies.It said Trident shut down operations, which are mainly natural gas, without responding to its order.The regulator said it will ensure that the public and the environment are protected and will assess any high-risk sites to ensure there are no immediate risks.“The AER will pursue all options to ensure that Trident’s infrastructure is transferred to responsible operators, safely decommissioned, or, as a last resort, transferred to the Orphan Well Association,” the regulator said late Wednesday in a release.“Many of Trident’s wells were still operating and, once transferred to responsible operators, can still contribute to royalties, keep Albertans working, and deliver value to our economy.”The AER said it will assess all options for possible enforcement.The Canadian Press
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at 12 pm on July 5th, found that many sites included love Shanghai has returned to normal, first say, you hurry to site your site, included before K off has been slowly recovering, many webmaster friends can be assured.
love Shanghai significant changes is apparent in June 28th, in the early June 24th in Shanghai love club owners issued a site abnormal announcement, so the exact love shock of Shanghai has now for two weeks. Shanghai issued a notice to explain love Engineer Site syntax query is not normal phenomenon: "love Shanghai system update process more out of the situation, leading to site query syntax namely numerical site:xxx贵族宝贝 returns very visible, no" site into the new algorithm, and this algorithm is based on repeated website content, because of this algorithm the adjustment, and before is not compatible, that leads to the 20 phenomenon and the phenomenon of home. Although there are great differences in site results, but also love Shanghai will not influence the website included and ranking.
was affected by the events of 628, many sites included the shot or Kuangxiang, love for Shanghai this incident many webmaster ventilation is on the verge of collapse, at first we thought it was a normal fluctuation love Shanghai in the renewal period, two days will be restored, but in 628 after the events of the week, love Shanghai included still no change, many webmaster in despair, that love of Shanghai is a foregone conclusion.
don’t know why you love Shanghai chose in peacetime will not have the new Wednesday adjustments, but this adjustment is a good thing, for they did included webmaster, the heart hanging heart finally put down; for those included Kuangxiang webmaster, and finally see hope in the hands of a website.
and things are not the same as we imagine, when you open the computer today will certainly surprise, what surprise? Of course is to love Shanghai website ranking, included the recovery, in late July 5th twelve or so part of small and medium-sized site included, the chain returned to normal, only love Shanghai through several days of deployment, will on site redistribution processes.
this day Shanghai returned to the part of the site collection and sorting, there may be a small part of recovery, do not know when they will be completely over, perhaps because love never ends, Shanghai algorithm is continuously adjusted, even if the algorithm for adjustment of the end and will have a new algorithm to adjust. According to the Shanghai love this adjustment webmaster can not be too alarmed, because if it is love of Shanghai’s own adjustment problems, it will re adjust back, even if we panic that we are not able to control, so the key ah, or honestly do stand.
love Shanghai ah, sad is also pregnant, although once Shanghai Dragon Master said, do not rely on the web search engine, they can do, but for small and medium-sized webmaster, search engine.
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