11/08/2019 | Press release | Distributed by Public on 11/08/2019 08:50
Effective Nov. 8, 2019, all producers can drill new conventional oil wells without being restricted by production limits. Existing producing wells will remain under curtailment.
This measure will drive positive investment, lead to increased drilling activity, and support economic growth in communities across Alberta.
'Companies are currently making investment decisions and we want those dollars and jobs to be in Alberta. We are doing everything we can to help.'
These adjustments provide flexibility for industry while aligning with the objective of curtailment - protecting the value of Alberta's oil by maintaining a balance between production and takeaway capacity.
This update to the existing curtailment policy is in-line with other recent enhancements made by government. This includes the addition of special production allowances, which give operators curtailment relief for production shipped by new rail capacity.