An embattled energy company in WA’s Kimberley region has gone into liquidation, ending a 10-year decline and leaving significant questions over who will pay their rehabilitation and decommissioning costs.
Key points:
- Liquidators have only been able to recover $17,000 in bank accounts and have not been able to contact the company
- DMIRS says one of New Standard Energy’s wells hasn’t been decommissioned and others haven’t been rehabilitated
- Amine site rehabilitation expert saysrestoring the ecosystem at Nicolay-1 will likely cost hundreds of thousands of dollars
New Standard Onshore, a subsidiary of New Standard Energy (NSE), drilled four exploratory wells in the regionin a bid to tap the Canning Basin, which has the largest shale gas reserv…
Read the full article at: https://www.abc.net.au/news/2022-12-09/new-standard-energy-liquidation-fracking-rehabilitation/101751662