EnergyNow published a great article today highlighting the fantastic progress the oil & gas industry is making in proactively decommissioning and reclaiming the inactive inventory in Western Canada. For the 2nd year in a row, oil & gas operators have spent more than required on closure activities, based on their mandatory spends. In 2023, $923 million was spent on closure activities (surpassing the mandatory spend by 22%), and 2024 is on track to exceed the industry mandatory spend of $700 million. In 2025, the industry-wide mandatory spend will increase to $750 million.
360’s CEO, Ryan Smith, explains in the article how a predictable regulatory framework helps both our clients and our business effectively support environmental stewardship while planning for the future.
Check out the article to learn more about the positive impact these efforts are having on Alberta’s landscape and economy!
