Just one month after the Alberta Energy Regulator suspended the licenses of all Lexin wells, facilities, and pipelines, forcing the company to shut down operations, Lexin's gone into receivership.

The Court of Queen’s bench has approved the Alberta Energy Regulator’s application for a receiver to be appointed.

The receiver will facilitate a sales process to market and sell the assets.

A release from the energy regulator says the receiver won't take possession of the assets.

They'll remain with the Orphan Well Association and identified stakeholders.

Many local landowners haven't been paid their leases and with the company's failure to pay taxes, the Foothills MD is out over $2 million.