Insights

Explore our collection of thought-provoking articles and stay informed about the latest trends, best practices, and insightful perspectives with expert advice from the 360 team.

  • Diversity, Servitude and Grit – What Rugby Can Teach Us About Business and Life

    *Pictured above – Pat Riordan, Captain of the Canadian Rugby Team 2011 Rugby World Cup.  Embodied the traits that are exposed through rugby. Rugby is a beautiful, brutal, intellectual, and inspiring sport. Our team here at 360 has produced many fantastic insights on topics relevant to the world of Oil and Gas Liability and ARO. …

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  • Applying Environmental Risk Intelligence and Data-Driven Solutions to Make Complex Site Closure Simple

    This month’s Insight is a virtual presentation by 360’s Manager of Environmental Strategy, Andrea Bullinger, and Senior Risk Assessor, Brandon Smith. While presenting at the AGAT Laboratories Tech Talks, they dive deep into how applying environmental risk intelligence and data-driven solutions help make complex site closure simple. Click HERE to watch.

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  • 360’s Second Annual ESG Report

    Click here to see the full report – 360’s 2021 ESG Report We are very excited to release our 2021 ESG Report to the industry. This is our 2nd Annual ESG report, and we are proud to showcase the accomplishments we achieved in 2020, but more importantly highlight our ESG goals we have established for…

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  • Piano Players, Piano Movers and the Alberta Liability Management Framework

    The big question that has started to creep into our conversations as of late is “what drives site closure in Alberta once the Federal Government funded Site Rehabilitation Program (SRP) ends and the new Liability Management Framework (LMF) is fully implemented?” As I ruminate on that, I’d say that in general, I try to simplify…

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  • 2020 Year in Review – Legacy Liability Takes a Front Seat

    Without going out on a limb here, we think it is safe to say that 2020 has been another chaotic year for the energy industry in Canada. At a macro-level, we’ve witnessed sub-zero commodity prices, a global pandemic, mounting pressure from the worldwide ES&G movement, political upheaval south of the border, and our own version…

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  • Let’s Make a Deal: Opportunities and Concerns with E&P Consolidation

    It has been two years since we last wrote about some of the hurdles facing acquisitions and dispositions in the oil & gas sector. In 2018 it was Statement of Concerns and objections to Notice of Assignments. I regret to report that the list of hurdles has only grown since then. Maybe I am an optimist, but I have not lost…

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  • Beyond the Fog Lies Clarity – The History, Perils, and Future of ARO Evaluation

    The focus on asset retirement obligations (ARO) in the oil and gas industry has risen steadily since 2015. There is a multitude of factors as to why, with the Redwater case and the eventual decision by the Supreme Court of Canada at the forefront. This has resulted in ARO now being one of the most…

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  • Adapting to Change – Liability Management and Asset Retirement in Western Canada

    I was once told in rugby to “control the controllables”, when lamenting a big rainstorm prior to a match.  That message has stuck with me in business and holds well to turbulent times.  The message is that the goals often remain the same despite a constantly changing environment. To start to paint the picture (and…

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  • The Case for Investing in Closure Right Now

    Canadian oil and gas companies should capitalize on the opportunity to invest in asset retirement during the current downturn. This is not meant to be a definitive statement for every producer as many will not be in the financial position to do so, but rather the purpose is to generate a line of thought on…

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  • Risk Lies in the Eye of the Beholder

    The government of Alberta recently loaned $100 million to increase the pace of orphan well clean up. One major part of this cleanup is environmental closure, which comes with several unknowns, uncertainties and perceived risks. One of the questions we are often asked is “What is the risk involved in getting these sites to full…

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  • 360’s first annual ES&G Report

    Click link to see the full report: 360 Energy Liability Management Ltd. 2020 Responsibility and Sustainability Report Email Our team over here at 360 are proud to release our first annual “Responsibility and Sustainability” report. The goals of our report are to:  Set a baseline for future actions  Keep ourselves and our business accountable  Help…

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  • ARO and ES&G – Linking two of the most relevant topics in Canadian Energy

    In the last 5 years, Environment, Social and Governance (ES&G) strategy and reporting has emerged as a foundational piece in all sectors of the energy industry.  This meteoric rise has quietly elevated the importance of asset retirement obligations (ARO) within all three components of the ES&G acronym. At 360, we have felt the shift in…

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  • Practical Abandonment Solutions are Evolving – Commingled Abandonment

    With increased scrutiny around liability, abandonment, environmental closure and decommissioning, our industry must continue to mature and evolve in addressing these liabilities. One such way that the AER has done so is to release a pilot program intended to allow low risk zones to be abandoned together. Successful pilot projects require pre-planning and coordination among…

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  • Discover 360 Energy Liability Management

    At 360, we assist our clients in “Making Growth Simple”.  Our sole focus is on asset retirement obligations in the oil and gas sector and we excel at quantifying, strategizing and executing on those obligations.   Our team is purposefully built to serve our clients needs across the entire ARO spectrum and we place a massive…

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  • Evaluating and Auditing Asset Retirement Obligations in a Post Redwater World

    Change is constant in the oil and gas industry. With the political, environmental and economic landscape constantly shifting, all who are active in it need to stay up to date on the latest developments. Producers, lenders, and private investors, or really anyone holding or dealing in oil and gas assets, need a clear picture of…

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  • Oh, ABC, It’s Easy as, 1 2 3…

    Recently, the AER has rolled out the new Area Based Closure Program (ABC) whereby operators can relax inactive well requirements in exchange for committing to an annual inactive liability reduction target. Goals of the Area-Based Closure Program are to encourage cooperation between operators to realize economies of scale for area based asset retirement and ultimately…

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  • Discretionary Approval: Getting Deals Across the Goal Line

    The Alberta Energy Regulator (AER) granted themselves discretionary authority on all transactions where the transferee has a Liability Management Rating (LMR) of less than 2.0 post-transaction through Bulletin 2016-21 in July 2016. This was a softening of Bulletin 2016-16, which was released three weeks earlier, that required all transferees to have an LMR greater than…

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  • How to Plan for Retirement – Asset Retirement

    As local headlines continue to highlight the exodus of foreign investment from the Canadian energy sector, the resilience of local E&P companies is yet again being tested. One of the most refreshing parts of our day to day at 360 is that we get the opportunity to engage with enthusiastic new teams on a daily basis that continue to recognize opportunities in what may appear to be…

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  • A&D TRANSACTIONS: I OBJECT!

    Over the past few years, acquisition and divestitures in the oil & gas industry have become increasingly cumbersome for companies. With a heightened focus on liability by the Alberta Energy Regulator (AER) and industry, there are more instances for your transaction to hit a speed bump. If the Liability Management Rating (LMR) of the transferee…

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  • Optimal Prime: Transforming How to Execute on Area-Based Closure

    The Alberta Energy Regulator (AER) recently unveiled the Area-Based Closure Program (ABC), with the goal of driving down the cost of asset retirement and inducing greater closure throughout Alberta. Full details of the program are available on the AER’s website but the premise of ABC is to incite collaboration between operators and in turn foster…

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