X hits on this document

PDF document

Edgar Filing: TIDELANDS OIL & GAS CORP/WA - Form 10-K - page 15 / 83

414 views

0 shares

0 downloads

0 comments

15 / 83

Edgar Filing: TIDELANDS OIL

& GAS CORP/WA - Form 10-K

impose

obligations

related

to

air

emission

facilities and the cleanup of hazardous at properties currently or previously which we have sent wastes for disposal.

subs owne Vari

s and

discharge

of wastes

from our

tances

that may

have been

released

d or ous

operated by us or locations to

governmental

authorities

have

the power to under them,

enforce compliance and violators are

with these subject to

regulations and administrative,

the permits issued civil and criminal

penalties, including civil fines,

without parties,

regard to fault for the including the owners of

pass, well

may also have the right to

as

to

seek

damages

for

injunctions remediation properties pursue lega non-complia

regulations or for per

sonal injury o

r propert

or both. Liability may be incurred of contaminated areas. Private through which our gathering systems

l actions nce with y damage.

to enforce

compliance as

environmental

laws

and

There is inherent risk in our business due to air emissions related disposal practices a mercury. In addition, enforcement policies cost of any remediatio will not incur materia cannot assure you that event an environmental

of the incurr our handling to our operati nd the prior u the possibili could signific n that may bec l environment our insuranc claim is made

ence of e of natura ons, his se of na ty exists antly in ome neces al costs e will p against

nvironmental

costs and liabilities

l

gas

and

other

petroleum

products,

torical industry

tural

gas

flow

operations, waste meters containing

that stricter laws, regulations or

crease sary.

our compliance costs We cannot assure you

and the that we

and liabilities. rovide sufficient us.

Furthermore,

we

coverage in

the

Our business may be pollution control requ required operating or might adversely affe storage and transpor Federal and state agen

adversely af irements or li other regulato ct our produc tation, as we cies also coul

fected b abilities ry permi ts and ll as was d impose

y

increased

costs due to stricter

resulting

from

non-compliance

with

ts.

New environmental

activities,

including

regulations processing,

te management and air emissions. additional safety requirements, any

of which could affect our profitability.

RISK OF ADDITIONAL

COSTS

AND

LIABILITIES

RELATED TO

ENVIRONMENTAL

AND SAFETY

REGULATIONS

AND

CLAIMS

Our pipeline operations

are

subject

to

various

federal,

state

and local

environmental,

safety,

health and other laws,

which

planning, assurance

designing,

that

costs

installing and operating such fa

and

liabilities

relating

to

compli

in the

future.

Moreover,

it is

increasingly

strict

environmental

possible that and safety laws,

othe re

can

increase the cost

cilities.

There

can

be

of no

ance will not be

incurred

r

developments,

such as

gulations

and

enforcement

policies from our

thereunder, and operations, could

claims result

for damages to

in

additional

prope

costs

t

rty

or

  • o

    and

persons

resulting

liabilities

for

us.

GOVERNMENTAL REGULATION OF OUR PIPELINES COULD INCREASE

OUR OPERATING COSTS

Currently our

operations

involving the gathering of n

exempt from

regulation

Gas

Act

provides

that

under the Natural

the

provisions

of

Gas

Act. Se

the

Act shal

used for the production or gathering

operations

support

the

conclusion

of natural that our

gas. Ou facilit

atural gas from wells are ction 1(b) of the Natural l not apply to facilities r physical dimensions and

ies

perform

primarily

a

gathering

regulation. The Federal

function.

We should

not,

therefore,

be

There, however, can be no assurance that

Energy

Regulatory

Commission's

oversight

s t o

ubject

to

Natural

Gas

Act

his

will

remain

the

case.

f

entities

subject

to

the

  • -

    13-

Natural Gas Act includes acquisition, construction accounting for regulatory

the

regulation

of rates,

entry and

and

abandonment

of

transmission

purposes.

The

implementation

of

new

exit of service, facilities, and laws or policies

that would subject us under the Natural Gas

to regulation by Act could have a

the Federal Energy Regulatory

material

adverse

effect

on

our

Commission

financial

condition and operation, or

operations. Similarly, in the configuration of

changes in facilities,

the method or circumstances of could result in changes in our

15

Document info
Document views414
Page views414
Page last viewedSat Jan 21 09:04:21 UTC 2017
Pages83
Paragraphs15149
Words37471

Comments