Responsible End-of-life Asset Management for Canadian Energy Company
A bold strategy to build a better economic business model for successfully dealing with conventional end-of-life assets
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Project Highlights
- 6,000 boepd of production
- Responsible mature asset management
- AER regulation compliance
- Implemented end-of-life asset management
Challenges:
The client needed to manage an end of life asset in a cost efficient manner and pursuant to AER regulations
An economic business model for conventional end of life assets was needed
The correct mix of assets needed to be identified and a cost effective team was needed to manage the assets
A realistic model focused on life cycle management and utilization of unique risk mitigation strategies was also needed
An economic business model for conventional end of life assets was needed
The correct mix of assets needed to be identified and a cost effective team was needed to manage the assets
A realistic model focused on life cycle management and utilization of unique risk mitigation strategies was also needed
Solutions:
Sproule ERCE helped evaluate the acquisition, structure the offer, negotiate the purchase and sale, complete due diligence, secure appropriate licenses, and advise on unique aspects of the transaction
Sproule ERCE also managed the transition of the assets from the vendor to our client, putting all the required processes and systems in place
Sproule ERCE built the Discretion Waiver Request and supporting documentation, represented and presented to the regulator (AER) on behalf of the client.
Sproule ERCE provided a cost effective, fit for purpose advisory, administrative and operational team for all aspects of the client’s oil and gas business
Sproule ERCE also managed the transition of the assets from the vendor to our client, putting all the required processes and systems in place
Sproule ERCE built the Discretion Waiver Request and supporting documentation, represented and presented to the regulator (AER) on behalf of the client.
Sproule ERCE provided a cost effective, fit for purpose advisory, administrative and operational team for all aspects of the client’s oil and gas business
Values:
The client now produces 6,000 boepd and derives economic returns by maximizing the cash flow from the assets
Client received the required approvals from stakeholders to close the transaction
Client received the required approvals from stakeholders to close the transaction