New tools have been developed by Glacier Media’s energy division to help Canadian oil and gas producers measure more easily the impact of a specific set of provincial regulations on their operations.
Teams in Calgary and London, England, developed and marketed the new tool, which is a new standard feature of the company’s subscriber-only CanOils Assets database (www.canoils.com).
The new tools help companies within the oil and gas sector to measure the impact of Licensee Liability Rating programs designed to ensure that costs to suspend, abandon, remediate or reclaim a well, facility or pipelines are not borne by the public if a licensee becomes defunct.
To fulfill LLR regulations, the value of an operator’s ongoing assets must outweigh any abandonment/reclamation costs. CanOils new LLR tool allows users to quickly calculate the LLR for individual and clusters of wells. It can also easily measure how a potential asset purchase or sale could alter a company’s LLR position. Moreover, the data is useful as a business development tool for service and supply companies within the oil and gas sector.
The data includes estimates for every well in Alberta, Saskatchewan and British Columbia.
For more information, visit: http://www.jwnenergy.com/article/2016/11/how-were-using-llr-well-data-as...