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Each week, XI Technologies uncovers trends and insights using our enhanced data and software focused on the WCSB. If you’d like Word to the Wise delivered directly to your inbox, subscribe here . This week we look at the E&P landscape through a different lens, one which shows how liabilities were managed in the Western Canadian Sedimentary Basin (WCSB) over the past year. XI Technologies conducted an analysis of liability values and reclamation totals with the aim of obtaining a comprehensive overview of the status of oil and gas liabilities. Liabilities Value The following information was compiled using XI’s ARO Manager with XI’s 2022 Cost Model (plus AssetSuite’s well and facility data) compared with AssetBook’s LLR Module using the government’s Directive costs model. Pipeline information was specifically excluded for this compilation as provincial LLR calculations do not currently include those assets. Figure 1 –Total YOY Liabilities using XI’s ARO Cost Model vs Directive LLR Cost Model Comparing the two years, 2021 and 2022, we observe that the liability values have reduced by 92 million, with Alberta reducing its liability value by 59 million using XI’s 2022 cost model. Based on the LLR cost values dictated by government directives, the […]
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