Published • loading... • Updated
Bankrupt oil company leaves Alberta municipalities hanging
Cycle Oil & Gas owes $278,000 in unpaid taxes and abandonment costs across 36 sites, impacting local municipalities already facing $5.2 million in unpaid industry taxes.
- Cycle Oil & Gas has been ordered by regulators to abandon 36 sites due to unpaid municipal taxes totaling $278,000, including over $51,000 owed to Red Deer County.
- Cycle Oil & Gas has been found liable for $2.2 million in abandonment costs and must comply with a two-week order to remove all site equipment and debris.
- Red Deer County's assistant chief administrative officer, Dave Dittrick, criticized Cycle for failing to meet tax obligations and highlighted ongoing frustrations with the energy industry's unpaid taxes.
- Blue Star Energy Inc. has offered to buy one well, pending the cancellation of owed taxes, while the county struggles with $5.2 million in unpaid taxes across 33 companies.
Insights by Ground AI
15 Articles
15 Articles
Smithers Interior News+12 Reposted by 12 other sources
Alberta Energy Regulator ordered company to abandon 36 sites
Father's Day SaleGet 40% off Vantage subscriptions for yourself or a friend.Get Started
Coverage Details
Total News Sources15
Leaning Left14Leaning Right0Center0Last UpdatedBias Distribution100% Left
Bias Distribution
- 100% of the sources lean Left
100% Left
L 100%
Factuality
To view factuality data please Upgrade to Premium
