360 Closure Communication 24-02: AER announces three community engagement sessions to outline the Province’s Liability Management Framework (LMF) as part of Bulletin 2023-41

The AER has announced three community engagement sessions to outline the Province’s Liability Management Framework (LMF) as part of Bulletin 2023-41. The proposed changes to the LMF are the replacement of the Licensee Liability Rating (LLR) rating program and Liability Management Rating (LMR), and introduction of a new security framework. 

Session 1: Liability & Security Overview – May 30, 2024 – 9:00-10:30 a.m

Explanation of  the proposed changes to the LMF. This will include an  overview of the background and context of the existing LMR, LLR program, liability, and security approaches, and information relating to the new liability management framework. 

Session 2: Estimated Liabilities – June 13, 2024 – 9:00-10:30 a.m. 

AER will provide a high-level review of  proposed changes to the LMF and outlines the regulatory tools that will replace the Licensee Liability Rating (LLR) Program and the Liability Management Rating (LMR). The session will also outline the proposed approach to updating estimated liabilities, considerations for Regional Liability and Site-Specific Liability Assessments, and how the AER uses liabilities to make decisions.  

Session 3: Security Framework – June 20, 2024 – 9:00-10:30 a.m. 

The AER will provide a high-level presentation explaining the new security framework and the risks it will address in the transfer process. This will include the design principles and factors that the AER could make in determining security requirements to address specific risks. 

The proposed changes to the liability framework will play a significant role in shaping the future of oil and gas operations by impacting mandatory spends and industry’s ability to acquire and divest assets.  The LMF will play a critical role in the success and future competitiveness of oil and gas operations in Alberta.  

Please CLICK HERE to register on the AER website

Recent News & Events

  • Another Gas Leak in Wheatley, ON Raises Alarm Over Ontario’s Abandoned Wells

    In late June, emergency crews in Wheatley, Ontario were once again forced to evacuate downtown due to a hydrogen sulfide gas leak—the same toxic gas that caused a devastating 2021 explosion that levelled a local pub and displaced families for months. The leak has reignited concerns over Ontario’s approximately 27,000 legacy oil and gas wells,…

    Read More

  • 360 EEC Hosts Ontario Minister of Rural Affairs

    This week we had the pleasure of hosting the Honorable Lisa Thompson, and Hannah Anderson from the Ontario Ministry of Rural Affairs. It was great to connect at our Calgary office to discuss the challenges that legacy oil and gas infrastructure poses to rural development in the province of Ontario – but more importantly to…

    Read More

  • 360 EEC Sponsors 4th Annual Chard Métis Nation Golf Invitational

    We had a fantastic time out on the course at the 4th Annual Chard Métis Happy Gilmore Golf Invitational! As a proud partner of the Chard Métis Dene Group of Companies, 360 was honoured to support this year’s event as a hole sponsor. Our team enjoyed connecting with fellow participants, running a fun giveaway at…

    Read More

  • Graeme Hawkins to Present at IAMA Workshop on ARO and End-of-Life Maintenance

    We’re proud to share that Graeme Hawkins, Director of Asset Retirement Obligations at 360 Engineering & Environmental Consulting, will be presenting at the upcoming Infrastructure Asset Management Alberta (IAMA) Workshop in Calgary on Wednesday, June 18, 2025. Graeme’s presentation, titled “ARO Work and Ongoing End-of-Life Maintenance,” will explore key insights from more than 40 PS…

    Read More