Alberta’s oil and gas producers spent $769 million cleaning up old wells in 2023, a $73 million increase from the prior year, according to a new report.
The report released Thursday by the Alberta Energy Regulator aims to track the industry’s performance when it comes to addressing the backlog of thousands of old and inactive wells in the province.
Between 2000 and 2020, the number of inactive wells in the province grew at a rate of five per cent annually but has been trending downward since, in part due to a suite of new rules aimed at tackling the problem.
In 2023, the number of inactive oil and gas wells in Alberta decreased by five per cent to 79,000 from 83,000.
“This is a positive trend, but continued effort and focus are essential to maintain …