Learn what went wrong in a $227 million energy deal rejected by the AER

The Alberta Energy Regulator recently denied a deal worth more than $227 million and included over 3,700 licences in the Western Canada Sedimentary Basin.

Presenters in a new energy regulator course on acquisitions and divestitures will walk through the application and explain the AER’s decision points related to the new liability management program.

The real-life example will give attendees a clearer idea of how to navigate the new processes as M&A activity is expected to pick up as companies emerge from the pandemic.

AER will not automatically transfer licences when a purchase agreement has been made, it must approve any transfer as outlined in Directive 088.

Successful navigation of regulatory issues has proven to add significant value to a transaction, says Mark Taylor, a former senior executive with the Alberta Energy Regulator, who along with former AER employees Alanda Allum, Rob Cruickshank will share essential insights, tips and tactics to guide an energy deal through Canada’s oil and gas regulatory process during a new e-learning course on March 30. 

Navigating Canadian energy regulators when conducting acquisitions and divestitures is ideal for A&D professionals within oil and gas companies and in related sectors, such as banking, investment, and land management in Canada.

Lessons gleamed from the course can help with any future dealings with the regulators across Canada. Participants will have the opportunity to have one-on-one conversations with the panel.

“It’s easy to waste days, weeks and months on things that didn’t matter,” said Taylor. “This course is going to give you proven tips from people who have worked the system from both sides that will reduce the cost of your transaction.”

Growing regulatory concerns ranging from orphan well liabilities to ESG considerations is making it even more critical to understand the potential obstacles to oil and gas deals, says the team.

Participants will assess how regulatory needs, ESG and policy awareness are integral when considering deals in upstream exploration, production, or midstream markets. Developing and implementing a post-transaction liability management plan will also be covered.

Cruickshank said the course will give you a start to finish checklist from discussions with landowners, to pre-application meetings, to a pre-application alignment of the work that you’re doing, all the way through to carbon tax considerations and potential liabilities or hearings.

“You're going to obtain a comprehensive list of factors that you need to consider. You can pick our brains and you can ask the questions, and we will also provide you with considerations that you may not have thought of. And I think that will be a vital aspect of the course.”

Register here for Navigating Canadian energy regulators when conducting acquisitions and divestitures.

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