The Liability Management Rating (LMR) program has been developed by the Commission for assisting in the determination of security deposits for permit holders under Section 30 of the Oil and Gas Activities Act. LMR calculations are completed by the Commission and are used in monthly assessments, as well as in review of permit transfer applications for permit holders. Detailed information on the LMR program can be found below in the LMR Program Manual. An updated report outlining the LMR calculated for each BC permit holder can also be found below.
The Commission has developed a report that lists the deemed assets and liabilities for each individual permit held by an operator. Those that would like to obtain this information can request a LMR Operator Detail report by sending a request to Liability.Management@bcogc.ca. Requests must specify the preferred format (PDF and/or CSV), the elected recipients, and report frequency (one-off or monthly).
Questions and comments are welcomed by the Commission and can be directed to:
For Security Deposits and general inquiries about the LMR Program: Wade Abbott at Wade.Abbott@bcogc.ca or 250-419-4355
For Orphan Wells inquiries: Kristen Ramsey at Kristen.Ramsey@bcogc.ca or 250-794-5224
For all other inquiries related to Asset Retirement: Mike Janzen at Mike.Janzen@bcogc.ca or 250-419-4464