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.

  • Taking the Time it Takes

    My dad first said this to me when I was around 10 years old. I can’t remember the exact task that I was trying to complete in a hurry, but I was in a rush, nonetheless. I was given this advice and at the time, it seemed like one more thing your parent says to…

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  • Let’s Talk about Mental Wellbeing

    Have you asked your friends lately how they are doing, and REALLY listened to the answer? This article has nothing to do with oil and gas site closure and I am not a qualified health professional. With the disclaimers out of the way, we can now chat about something that I hope hits your radar…

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  • Closure’s Triple Threat: Balancing Liability Requirements, Financial Performance and ESG

    The Alberta Oil and Gas industry is facing a triple threat. No, we are not talking about the famous actor, dancer and singer Patrick Swayze (who just happens to be 360’s beloved role model). What we’re facing even the legendary Johnny Castle himself can’t dance around. This threat is a combination of changes in regulations…

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  • Saskatchewan updates Oil & Gas Conservation Regulations to accommodate Closure Companies in new Oil & Gas Liability Management Regulations

      “Qualifying expenditures approved by the minister as a result of a license transfer to a closure company may be applied against the transferor’s Annual Reduction Target (ART)” Background On July 5, 2021, the Ministry of Energy and Resources released Bulletin BT2021-010 outlining the new Financial Security and Site Closure Regulations along with amendments to…

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  • A Brief Guide to Abandonment Language

    As Canada is officially bilingual, oil patch language and corresponding regulations can appear the same, with two ways to describe the same thing. June’s Insight explores some of this language across jurisdictions in which we operate. In Western Canada, most of us are familiar with the abandonment vernacular like groundwater protection, bridge plugs, cement caps,…

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  • The Impacts of Federal Funding for Closure in Western Canada: An interim report on the impacts of $1.7B in federal funding injections

    As May marks the 1-year milestone for the federal funding initiatives designed to assist with site closure, we look back at some of the lessons learned over the first year and position for the remaining 20 months of the program(s). A bit of Chaos We think it is fair to say that the energy sector…

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  • 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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