Regulatory Documents Commented on: Directive 088: Licensee Life-Cycle Management (February 2023) and  Manual 23: Licensee Life-Cycle Management (February 2023)

By: Drew Yewchuk

PDF Version: Updates to the Oil and Gas Liability Management Framework: The New Closure Nomination and The Renamed Closure Quotas

The Alberta Energy Regulator (AER) continues to work towards implementing the Government of Alberta’s new Liability Management Framework. This post goes into the details of this implementation, on the assumption the reader is familiar with the ongoing reforms. For some background, see ABlawg’s post from February 2021 here, and my 8 November 2022 post. This post covers the February 2023 updates from the AER: a new Directive 088: Licensee Life-Cycle Management, a new Manual 23: Licensee Life-Cycle Management, responses to an engagement survey on Directive 088, and the Fall 2022 Engagement Session Q&A on Closure Nomination. The AER also released a new explanatory video. Continue reading →

By: Nigel Bankes

Case commented on: IFP Technologies (Canada) Inc v EnCana Midstream and Marketing, 2022 ABKB 807 (CanLII).

PDF Version: A Complex Oil and Gas Accounting Decision

Several years ago, I commented on both the original trial judgment in this case (2014 ABQB 470 (CanLII),following a six-week trial going back to 2011) and the Court of Appeal’s decision (2017 ABCA 157 (CanLII)). The posts are here and here. The Court of Appeal ultimately found in favour of IFP and ordered an accounting as the principal remedy but referred certain questions back to a trial judge to be assigned to hear the matter. This is that decision rendered by Justice Charlene Anderson. Continue reading →