April 2019
AER: 2019/2020 Orphan Fund Levy
The orphan fund levy is to be collected in April 2019. Each licensee’s required orphan fund levy is based on its licensed and approved properties as of April 7, 2019. All orphan fund levy invoices must be paid by the licensee and payment must be received by the AER by mid-May 2019. Failure to pay the full invoiced amount will result in a penalty of 20% of the original invoiced amount being assessed to the licensee. 

You will be receiving your Orphan Fund Levy, shortly, from the AER.

AER Update On Application Timelines
The AER posted the results and improvements to their Application Processes . Included in the update are the typical timelines for processing and issuing approvals or dispositions, a process checklist, an application checklist in some instances and a summary of the review process.
AER Pilot Project on Commingled Abandonment
On April 24, 2019, the AER rolled out a pilot project to allow certain lower risk zones that were produced together to be abandoned together, if it poses no risk to the public or the environment.

For more information, including how to participate, see the Area-Based Closure webpage, heading “Pilot Project: Commingled Abandonment.”
Saskatchewan: BT2019-001 New Directives for Site Specific Liability Assessment and Phase II Environmental Site Assessment
On February 11, 2019 the drafting of the new Directives PNG031: Site Specific Liability Assessment and PNG033: Phase II Environmental Site Assessment formally concluded.

The Notices of Accepted Amendments for these Directives are available for viewing here.
BCOGC Industry Bulletin 2019-07: 2019 Status Updates to Area-based Analysis
The BC Oil and Gas Commission has completed the 2019 annual update to Area-based Analysis (ABA). These changes come into effect on May 1, 2019.

A copy of Bulletin 2019-07 can be found here.
Commodity Price Forecast
Below is a tabulation of the April 1, 2019 consensus forecast, provided by Gary Metcalfe (B.Sc., P.Eng.), President of Acipenser Resources Ltd. The table is a summary of the average crude oil, natural gas and currency exchange rates from several major Canadian Oil and Gas consulting firms. How does it compare to your price forecast?
Acipenser prepares professional NI 51-101 reserves reports for Canadian producers including:

  • Annual corporate reserves evaluations
  • Individual property reports for acquisition/divestment
  • Audit of company reserves to satisfy banking requirements
  • Assist with fair market value appraisals/estate valuations
  • Submissions to regulatory authorities regarding issues that require economic evaluations
  • Assessments of prospective undeveloped lands
Benoit's strategic alliance with Acipenser allows for the pooling of resources and expertise and enables both companies to deliver their respective services in a timely and cost effective manner.

Mr. Metcalfe has over 40 years of experience specializing in domestic and international reserve and resource evaluations as well as reservoir engineering studies.  For more information on our evaluation services, you can contact Robyn (at 403.263.3690) or Jason (at 403.874.6769) or you may also contact Gary Metcalfe directly at 403.829.9533.
On May 18, 2018, Benoit Regulatory Compliance moved from 1220, 633-6th Ave. SW to the following location:

1600, 736-6th Ave. SW
Calgary, AB
T2P 3T7

It would be much appreciated if you could have your records updated accordingly. 
Follow us on LinkedIn!

We post regulatory updates to our LinkedIn company page on a weekly basis. Follow us to ensure you have access to the most up-to-date information. To view and follow our company page, please click  here.  
+ More +

phone: 403.263.0896 | email: questions@benoitregulatory.com