An upcoming regulatory course comes at a pivotal time with the recent appointment of a new CEO at the Alberta Energy Regulator, who is expected to drive significant change.

Alanda Allum, Rob Cruickshank and Mark Taylor – all experts on Canadian upstream oil and gas and former AER colleagues – will deliver Regulatory Fundamentals for Acquisitions and Divestitures on Wednesday, March 19 live via ZOOM.   

They will offer valuable insights, tips, and strategies to guide energy deals through Canada’s oil and gas regulatory process. Additionally, they will address the new appointment, recent regulatory changes and the potential reorganization and regulatory innovation ahead in Alberta.

Taylor said the AER board has made it very clear that transformation is a goal for the new CEO.

“While that could deliver very positive outcomes most will recognize that during a transformation there will very likely be losses in efficiency/effectiveness of the AER,” he said.

Stay up-to-date with regulatory requirements

Ensuring students are up-to-date with the latest regulatory requirements and standards related to pre-deal preparation and post-transaction implementation is one of the key highlights of the course.

“Throughout this course, we will emphasize these updates and their potential impact on your business transactions,” said Allum.

The AER has recently announced the next phase of updates to the Liability Management Program, including revisions to 10 Directives and 4 Manuals. Notable changes that will affect A&D are related to Site Specific Liability Assessments (SSLA) and liability assessments associated with transfer applications.

Taylor said the focus on SSLAs and other compliance topics by the AER tends to ramp up after a company makes a significant acquisition.

“For small to midsize operators there are potential financial and operational risks that may follow a successful acquisition,” he said. “The work is not done when the approval is received. We will prepare you so none of this is a surprise.”

Changes to Directive 68

There have also been changes to Directive 68, which involve new requirements for security deposits, that could affect financial planning during A&D transactions.

“The recent changes can significantly impact small and medium sized operators,” said Allum. “The new security deposits requirements may create higher financial burden. They may need to allocate more funds to meet these new requirements. Small and medium sized operators may be challenged in complying with the new SSLA and liability evaluations associated with transfer applications.”

The course is ideal for A&D professionals within oil and gas companies and in related sectors, such as banking, investment, and land management in Canada.  

Exclusive offer

Sign up today to receive one hour of free consulting with one of the three instructors before or after the live event. Click here to secure your seat or to learn more.