WPM acting as Agent

Western Petroleum Management Ltd. (WPM) meets the regulatory requirements of the Energy Resources Conservation Board (ERCB) as an agent in Alberta.  WPM was appointed as agent on behalf of the Korea National Oil Corporation (KNOC) prior to the transfer of all Alberta licences within their asset purchase in 2006.  As agent for KNOC, WPM managed all of their regulatory, construction, drilling, completions, and reclamation and abandonment requirements in their Black Gold, Leismer oil sands property in NE Alberta.  KNOC purchased Harvest Energy for $1.8 billion in October, 2009.

WPM has the experience to assist international/domestic groups with the purchase and management of Oil & Gas assets in Western Canada.

Acting as Agent in Alberta

The Energy Resources Conservation Board (ERCB) is an independent quasi-judicial agency of the Government of Alberta that regulates the safe, responsible and efficient development of Alberta’s energy resources.

Applying to hold ERCB licences in Alberta - regulations state (Oil and Gas Conservation Act, Province of Alberta) that licensees must be resident in Alberta:

  • in the case of a corporation, having an office in the Province of Alberta and having staffwithin Alberta to make technical and operational decisions
  • in the case of an individual, having its main living residence in Alberta and able to carry out all obligations and duties of a licensee

 

If the corporation or individual does not meet the residency requirement, they must appoint an agent in accordance with Section 91 of the Oil and Gas Conservation Act and Section 19 of the Pipeline Act in order to receive a transfer of well licences in Alberta.