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ASSET & LIABILITY MANAGEMENT

ASSET & LIABILITY MANAGEMENT

We have your assets and liabilities covered
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Services
PLANNING, EXECUTION, FOLLOW UP
Codeco-Vanoco can handle your asset management requirements, through the identification of a recompletion opportunity, inactive well compliance monitoring, conducting a wellbore suspension or overseeing the abandonment operations including wellbore, flowline and facility decommissioning. Whether as a stand-alone well, re-abandonment of a previously abandoned well, or as part of a larger scale campaign, our professional staff has demonstrated ability to manage your capital dollars in a cost effective and efficient manner.

As a preliminary office exercise, Codeco-Vanoco can provide a review of your license liability rating (LLR) and provide a full report, including a prioritized plan for the most effective manner of increasing your rating to improve your company’s ability to do business.

When a well is deemed uneconomical, or when the mineral rights expire, it is subjected to abandonment operations; a provincially-regulated process in which the downhole and surface assets are retired in a manner that protects the health and safety of residents, the strata from crossflow potential, and the general environment.
From an individual well abandonment perspective, we provide engineering professionals that review well files, program the execution strategy in a technically sound and compliant manner, liaise with regulatory officials for non-routine approvals, procure vendors, provide supervisors that oversee the abandonment operation, test for surface casing vent flow and gas migration, ensure porous zone isolation and groundwater isolation, and conduct regulatory reporting. As a final step of the well abandonment, we oversee the removal of the wellhead and cap the casing strings in a manner that is approved by the provincial regulator.

When a well is abandoned, it is also important to abandon the pipelines and surface facilities. Typically, this involves the purging of equipment, displacing service fluids from tubulars using water or air, and removing the above ground facilities. Codeco-Vanoco can also manage the divestment activity of both salvageable and unsalvageable equipment to get the most out of your used equipment.

With the equipment removed, reclamation activities are undertaken to return the disturbed soil to its original state; be it reforestation, conversion to agricultural land or otherwise. After a monitoring period (typically two growing seasons) has elapsed, a reclamation certificate is issued to the operator. Codeco-Vanoco’s staff are trained in all aspects of the end of life management of an asset. Reclamation work is overseen by Codeco-Vanoco’s sister company Keneco Environmental.

If interested please Contact Us to discuss how we can help you!