How do you get a bankrupt O&G company to pay for its abandoned wells?

This short article, thanks to the Colorado Sun, illustrates how even the COGCC director, Jeff Robbins, is clearly frustrated with the process of cleaning up abandoned wells. Of course, these rules were created in a previous era of the COGCC when their corporate culture was quite different. This testimony will surely play a part in how the enormous problem of the cleanup of abandoned wells will be addressed:

An oil company that no longer exists faces a $344,000 fine Colorado doesn’t expect to collect. But that’s the point.

 

 

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