Time is money, Closure saves you both. Our proprietary software and Turn-Key service offerings let your team focus on your future, while we handle the past.
Since 1901, the oil and gas industry has been a major economic driver in Canada. However, energy development left a broad swath of unintended consequences behind. There are 400,000 wells in Western Canada, of which 150,000 are non-productive, and 60% of the non-productive wells are located in Alberta. The cost to clean up all producing and non-producing sites in Alberta is estimated to be between $60 to $260 billion dollars. Alberta's cleanup will take billions in spending per year across multiple generations.
Recent regulatory changes in British Columbia, Alberta and Saskatchewan have introduced and subsequently increased annual mandatory spend requirements and strict timelines for the clean-up. Closure can help by keeping your company up to speed on continuing regulatory changes, ensuring compliance and meeting the rising ARO spend requirements.
Why get distracted by abandonment and reclamation obligations when Closure can do it for you cheaper, faster, and more reliably? Our proprietary technology, process and experience can execute on well abandonment more effectively than internal teams. Our focus means more sites retired per year, ensuring that more lands are returned to their natural state or repurposed for productive uses in agriculture, development, or recreation.
Closure helps companies understand and manage their abandonment and Phase 1 ESA programs quickly and efficiently.Contact Us
Closure uses its software to assess risk allowing us to make confident appraisals providing the foundation for efficient execution. Oil & Gas producers can focus their resources on production while Closure manages the restoration of end-of-life assets.Learn More
Closure’s innovative approach to well abandonment means we take care of all the details, so you can stay focused on your business.
Closure’s technology platform individually analyzes and ranks your wells in a fraction of the time. Leading to the best decisions.
Our Proven Process looks at every detail, ensuring nothing is missed while accounting for the unique aspects of each well
Our Team has extensive experience in abandonment and reclamation obligations. With Closure, you’ll always have a plan and you’ll never miss your deadlines again.
Closure’s innovative software automates the aggregation of data, risk assessment and appraisal of liabilities at the individual well level. You see your entire site inventory from 30,000 feet – making it possible to risk rank, prioritize and budget. While our software digs deep, providing site-specific detail. Surprises are avoided and costs are predictable.
Closure partners with you for every stage of the abandonment and reclamation process. From well selection, to budgeting, to execution in the field, and regulatory submissions. Closure makes it easy.
Changes in regulations can be a drag on your team. It’s challenging to stay current with requirements, submissions and compliance. Closure specializes in end-of-life assets, its all we do. Let us be your site closure experts and you’ll know it’s done right.
We create success stories every day, helping our clients succeed is what motivates us. Here are some examples of success stories and areas where Closure can help your business succeed.Learn More
A prospective client was trying to execute an abandonment program in one of their non-core areas to meet their ARO commitments. The team of engineers was stretched thin focused on maintaining production. They had executed half the program only to realize they were in a designated Oil Sands area and did not use thermal cement. All services were stopped and waited on standby while the company worked through non-routine applications with the AER. This cost an extra $30,000 in unbudgeted standby costs.
Closure’s risk assessment automatically flags wells in oil sands or gas migration areas at the front end. The upfront cost for a risk assessment on inactive well inventory is well worth the investment. Surprises like this one are expensive and avoidable. Planning ahead saves time and money.
The due diligence process at the early stages of an acquisition is typically focused on the Assets of the company. The end-of-life assets, better known as environmental liabilities, can significantly reduce the value of the transaction yet very little information is known about them. Future cashflows are impacted by spending requirements and the seller’s representations of the liabilities may not be sufficient or can be underestimated. Our client engaged closure to perform an environmental due diligence which included risk assessment of all inactive wells and a liability estimate relative to the supplied LLR report. This provided the buyer negotiating position, peace of mind, and a third-party review of the environmental liabilities for their capital provider. The buyer was satisfied they now had the right numbers to decide and submitted their Letter of Intent (LOI). Subsequently closing the acquisition.
While competing for internal resources, sometimes abandonments and reclamation activity gets pushed to the back of the line. This was the case for our client with an Alberta Energy Regulator (AER) deadline that quickly appeared unachievable. We developed an abandonment program on the spot and mobilized services working nearby to execute the program in the same week. But “rush jobs” always carry a premium right? Leveraging our software, we can develop execution plans quicker than the competition leaving more time to plan logistics and schedule services thereby creating efficiencies for our clients. Operating last minute is not ideal, but if you are under a time crunch – give us a call.
Not all wells are created equal. A client sent over a list of 10 wells they were considering for an area abandonment. It turned out the client had chosen a list of risky wells from their inventory and advised them of the increased cost exposure. The Client had incorrectly assumed the wells were routine. We then offered to help them identify a group of routine wells to meet their budget and performance targets. Closure can provide a bird’s eye view of your complete inventory of inactive wells to prioritize and select candidates to fit your budget and goals.
Closure is led by a team of energy industry professionals who understand your business, because we were once on the producer side looking for a better way. Our multi-disciplinary team includes the brightest minds, dedicated to a culture of innovation with a passion for scaling oilfield reclamation.
Albert is a professional engineer with 25 years in the upstream oil and gas industry. Throughout his career he has gained multifaceted experience in drilling, completions, workovers, optimization and abandonments. In each of his many and diverse roles he always found success in embracing technology to drive efficiencies. By applying a systematic approach combined with industry leading data analysis, we can eliminate the mystery around "how big of a liability do I actually have?"
Scott brings over 20 years of Oil and Gas experience in finance. Over the past decade he has completed the successful start, capitalization, and eventual sale or restructuring of multiple corporate entities. Before white collars and boardroom politics, Scott’s passion and respect for the energy industry began working as a Roughneck drilling oil and gas wells for Jomax and Precision Drilling.
Alex is a professional engineer with 15 years of experience in developing data driven tools. In a data-rich environment like oil and gas, that means getting your data to work more so that you can work less. Alex has worked in rural Alberta, the head-offices of Calgary, and internationally for both producers and service companies. Wherever he goes, he works to maximize efficiencies, from tracking pipeline failures, to creating tools to write workover programs and designing predictive models for artificial lift. Alex is using data to help create a more sustainable oil industry.
Les is a professional engineer and finance professional with more than 25 years in the upstream oil and gas industry. Over the course of his career, he has contributed to the energy value chain from production engineer to strategy at the executive level and investment banking advisory. Industry has always put it efforts into building up production and cash flow, but Les has seen tremendous damage to valuations due to the accumulation of liabilities. Les got an early personal impression of the problem while standing on a suspended wellsite that had eroded the side of a coulee.
Our software runs a risk assessment on your wells that provides an easy-to-understand stoplight notification for identified risks, allowing you to really understand what non-routine concerns there may be before you select wells for your next program.
Send us an email here we will have a team member reach out to see how we can help.
Yes, we can get a good head start with just the well list based on publicly available data. We can tailor the liability evaluation to your budget and due diligence needs.
If there is a wellbore on the site, it will require plugging, which will prevent any potential for gas, oil or water emissions or groundwater contamination. Then the surface area needs to be reclaimed to regulatory standards. Grounds will be re-seeded and re-contoured as required. Any pipelines and processing facilities will also be isolated or removed.
A Phase 1 ESA involves assessing historical and current documents to determine if contamination occurred throughout the lifetime of the well. This includes analyzing drilling mud and aerial photography to get a broad picture of the asset.
A Phase 2 ESA is required when the Phase 1 assessment determines that contamination may have occurred. It involves evaluating substances in the subsurface with a variety of drilling methods for hydrocarbons and hazardous substances. A Phase 2 requires professional judgement in interpreting the data. It pays to engage informed, expert consultants to conduct your Phase 2 reporting which Closure can help you with.
The Licensee Liability Rating (LLR) number is used by the regulatory bodies as a representation of the average liability cost of the site compared to similar wells, historical operations and regional location.
Currently our software is used internally by our engineering and consulting group. But the end goal is to make this software available to everyone through a software subscription. For the time being, we will use our software to deliver clients’ projects. You will receive copies of any reports and outputs we create, and we will be sure to go over them and answer any questions.
We know you may have a preferred vendor list and we respect that. Our project management professionals can utilize your services and vendor list to execute your program. We also have good contacts or may have services working in the area that could prove a cost-effective alternative. It’s your call.
We would be happy to meet with you to assess your portfolio, work with your operations to set priorities and help you build a multi-quarter or multi-year plan and budget to fully restore your sites right through to final release with the regulator and occupant.
We can manage closure projects from start to finish, complete with final regulatory submissions. End-of-life asset restoration is our focus.
We branded our name closure. with a period at the end because a well is a story with a beginning a middle and an end. Let us help you with successful endings, it’s all we do.