Wolf Coulee Resources

Wolf Coulee Resources, a Calgary, Alberta-based oil and gas company with oil and gas wells located primarily in Southern Alberta, was placed in receivership on November 18 on application by the Orphan Well Association. The company has been in discussions with the Alberta Energy Regulator (AER) for several months in relation to its financial difficulties. In late September, the company advised the AER that it had ceased operations and did not have the ability to shut-in all of its wells. In the interest of public safety, the OWA moved for a receiver to be appointed to ensure the wells are properly maintained and, where possible, sold and placed in the hands of responsible producers. The total abandonment and reclamation obligations relating to the company's assets are estimated to be over $16.4 million. Hardie & Kelly was appointed receiver. Miles Davison is counsel for the applicant.