By: Drew Yewchuk, Shaun Fluker, and Martin Olszynski
Report Commented On: 2023 AER Liability Management Performance Report
PDF Version: Grading the 2023 AER Liability Management Performance Report
On December 5, 2024 the Alberta Energy Regulator (AER) published the 2023 Liability Management Performance Report (2023 Report). This is the second AER Liability Management Performance Report to the public on progress to reduce Alberta’s massive unfunded closure liability in the conventional (non-oil sands) oil and gas sector. We gave the 2022 Liability Management Performance Report a failing grade here because it offered little in relation to understanding whether industry performance was adequate and almost nothing at all about the AER’s performance. We note with disappointment that the AER has apparently removed the 2022 Report from its website, since historical comparison is also a method of measuring performance. The 2023 Report receives a slight improvement to a D grade because of enhanced data transparency, but the AER continues to offer little in terms of measuring effectiveness and performance in the administration of liability management.