Leading the Way? Liability Management for the Alberta Oil and Gas Industry
DOI:
https://doi.org/10.29173/alr2728Abstract
This article examines Alberta’s oil and gas liability management system, with a particular focus on the new regime established in 2021 by the Alberta Energy Regulator’s Directive 088. The article begins by examining liability management in Alberta prior to Directive 088, up to and including the Redwater decisions of the Alberta Court of Appeal and the Supreme Court of Canada. It then provides a brief overview of Directive 088’s main provisions and reviews its initial impacts on industry and the Orphan Fund Levy. Finally, it compares Alberta's liability management system to that of its world-class peers and a suggested alternative model, and considers whether Alberta is leading the way in oil and gas liability management.
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