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In-Situ application backlog has not improved. Overall, nearly 15 in-situ amendment applications submitted since 2011 are still awaiting approval. The ERCB has a large backlog of unapproved in-situ oil sands commercial scheme amendments that has been growing since the beginning of 2011. Many of these applications are taking longer to approve. The historic backlog from before 2011 is much larger than 15 but many older applications are stuck at the board for a variety of different reasons than the current applications. Also interesting to note is that almost half of the large pipeline applications (>12” OD) were closed by the ERCB last month. In general, the ERCB is closing (read refusing) almost twice as many pipeline applications as it was two years ago. New information about the ERCB backlog comes from AppIntel. The ERCB currently has over 700 applications awaiting approval. Over half of those waiting are resource applications. If the backlog continues to increase, it will take longer to approve applications. ~Granger J. Low
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In Alberta, there is an application registered at the ERCB every 3 minutes. Proven’s studies show that each approved application opens the gate to about $500,000 in increased net asset value. This estimate is an average with some applications granting approval to add more than ten times that value. A closed application costs not only the wasted time and fee to create and submit it. Closed applications also cost the lost opportunity for increased net asset value. How much care do you take with your applications? Proven Reserves has the best approval ratio in the industry. We also have top quartile approval times. Proven has 42 strategies to ensure your application gets approved quickly. Call us at (403) 218-7000 to help with your applications. |
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Mark is a completions engineer. Mark’s bottom-line is always connected with his drilling schedule, but accurately predicting when applications will be approved, when rigs can be booked, and when production can begin always seemed like a tricky gamble. Mark often felt frustrated and helpless in the face of constantly shifting timelines. Then Mark discovered AppIntel, which gave him monthly ERCB submission and approval details and statistics, allowing him to more efficiently gauge his projects’ timelines. With newfound clairvoyance, Mark is able to more accurately map out project timelines and keep his wells on schedule. Ensure You can Drill on Schedule!
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