The City is out money after an energy company goes bankrupt
MEDICINE HAT – The city of Medicine Hat is writing off $403,355.21 it hasn’t received from an energy company that went under.
The city was in a 50-50 partnership with Spyglass Resources Corporation for the gas wells in the Atlee natural gas field.
In November of 2015 the company entered into receivership. The city was an unsecured creditor of Spyglass at the time.