Challenges facing the Energy industry

1. Maintaining a safe viable LMR - now Corporate Health rating.
2. Ensuring all working interest partners also maintain a viable LMR - now Corporate Health rating.
3. Delineate the large and increasing number of wells listed as liabilities and walk each one through a defendable categorization based on viability and producability from a wellbore integrity focus.
4. Through associate members, facilitate plug in technologies to improve or establish the viability of each and every energy facility.

An operator’s responsibility is: to delineate the horde of wells listed as liabilities and walk each one through a defendable categorization based on viability and producability from a wellbore integrity focus. They require a plan utilizing defendable data, which was mined with the intent and focus of; reconfiguring asset and liability numbers which set the basis for the regulatory driven (LMR - now Corporate Health). The objective is to reduce the negative impact on your Liability Management Rating by maximizing assets while defendably reducing liabilities.

The Foundation has been successful in positively changing both License Liability Rating (LLR) and Liability Management Rating (LMR) statuses.

Corporate Health Action Plan

Once an operator is registered with the foundation, the following actions will be triggered for all assets held by that operator:

1. Via integrated data mining, a dashboard assessment will be compiled which includes: wellbore integrity, production viability, reservoir – reserve models, land status, AER file assessment, commercial liens and easements, encroaching development applications.
2. A report will be generated outlining the result of the assessment and submitted to the owner . This would include filing license amendments with the regulator.
3. Recommendations will be made as to which associate members: consultants, partners, service providers etc. are capable of assisting (or completing) the recommended mitigation required to move the well to a lower liability rank or elimination of the liability.

Decrease Your Risk

Utilizing an effective LIF Management Plan will identify which assets can still be productive, and those that cannot.

Liability Management and Predictive Analytics allow us to more accurately predict an asset's DDA (depletion, depreciation and amortization) behavior; elements of risk are weighed then assigned a value based on what specific mitigative steps along with decommissioning/remediative requirements must be integrated into corporate or project based ARO. Surface and downhole liabilities set the stage for a logic based risk assessment. We look to the future by fine tuning the specific liability management data elements and forming a symbiotic relationship between the data and predictive analytics powered by artificial intelligence and machine learning.

The objective is to reduce the negative impact on an operator's LMR, their working interest partners and lenders. The Foundation decreases the potential of more companies declaring insolvency, and adding to the already over loaded Orphan Well Association.