Historically, determining Asset Retirement Obligation (ARO)/Provision Estimates has been a nuisance, usually requiring petroleum companies to lean on people within their organizations that would be better served project managing end of life work. It required using industry experience to come up with average gross well abandonment, pipeline abandonment, and reclamation estimates for each area in which the company operates, vetting these estimates against actual work completed and multiplying them by net well counts. From there, auditors would question the logic and competency of the people providing the estimates, requiring companies to constantly work at building trust between themselves and the auditors.
What if:
Would this system be of interest to you? We thought so. Solstice Engineering Ltd. has painstakingly developed this system over the last 10 years and is quickly becoming the industry leader when it comes to third party independent ARO estimates, A&D Evaluations and LLR Evaluations. This innovative solution is unique to industry and the methods used to create the evaluation reports are without competition. Why continue to waste money on poor allocation of your workforce, or third party companies doing this work the old fashioned way, when the future of these evaluations is here now?
If you are interested in knowing what your company’s current liability actually is, if you are interested in truly understanding the impact of acquiring or divesting assets on your company’s liability, and if you are interested in optimizing your LLR to avoid posting security deposits, contact Solstice Engineering right now to find out how we can be of service.
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About Solstice Engineering Ltd.
Solstice Engineering Ltd. provides petroleum software solutions, acquisition and divestiture liability estimates, LLR evaluations, independent ARO estimates, and petroleum consulting services. SolComp, Solstice Engineering’s regulatory compliance management system, provides petroleum companies with the most complete and intuitive compliance software system available to industry.
For further information:
Phone: 403-462-2863
Email: info@solsticesolutions.com