The Liability Management Report was released to improve transparency in the industry
The Alberta Energy Regulator (AER) released a new Liability Management Report, which is intended to track and publicly report on the liability management performance of companies regulated by the AER. This report is based on information gathered through the AER’s Liability Management Framework, and is a requirement under Directive 088. The report outlines how financial, reserve, closure, and compliance information will enable the AER to assess the capabilities of licensees to meet their regulatory and liability obligations throughout a project’s lifecycle.
The report includes five sections:
- Conventional Oil and Gas Infrastructure
- Liability estimates
- Closure Spend Data
- Impact of Closure Spend on Liability Estimates
- Orphan Fund Levy
The report will be updated annually, and it is expected that additional data will be included as the program moves forward. The RMA is in the process of reviewing the report in more detail and will provide members with further analysis in the future.
Karrina Jung
Policy Advisor
780.955.4085
karrina@RMAlberta.com
Wyatt Skovron
Director of External Relations & Advocacy
780.955.4096
wyatt@RMAlberta.com