Attention all you rule-breaking renegade producers out there! Are you guilty of neglecting your MARP updates (Measurement Accounting Reporting Plan) like it’s the forgotten leftovers in the back of the fridge? Here’s your reminder that you should be paying attention to the regulatory nightmare you’re brewing!
MARP Approval Due
Picture this: you’ve got a thermal bitumen scheme with a MARP approval gathering dust on your desk. Suddenly, you decide to spice things up with some new wells and surface facilities. Now, normally, you’d have to jump through hoops, submit paperwork, and beg for approval from the AER all over again. But guess what? If you stick to the same old production, operating, measurement, and accounting processes approved in the original MARP, you can skip the whole song and dance!
Neglecting MARP Updates
But let’s face it, how many of you wildcat producers have been slacking off on those MARP updates? I’m talking to you, sitting there with your outdated documents, pretending they don’t exist like yesterday’s bad hairdo. Well, it’s time to face the music, folks! Blue Chip MRC is ready and waiting to whip those MARPs back into shape faster than you can say “regulatory headache.”
So, save yourself from the impending disaster, get off your procrastination train, and let Blue Chip MRC give your MARP the makeover it desperately needs. Because let’s be real, we know you’ve been avoiding it like Monday morning meetings.
MARP stands for Measurement, Accounting, and Reporting Plan
A document or set of procedures used in the energy and resource extraction industries, particularly in oil and gas, to ensure that all aspects of production, measurement, accounting, and reporting are conducted according to regulatory requirements and industry standards.
A MARP typically includes:
- Measurement Procedures: Detailed methods for measuring production quantities, such as volumes of oil, gas, or other resources extracted.
- Accounting Processes: Systems for accurately recording and accounting for production data, financial transactions, and other relevant metrics.
- Reporting Requirements: Protocols for submitting required reports to regulatory bodies, such as the Alberta Energy Regulator (AER) in Canada, ensuring compliance with regulations.
Keeping MARP updated is crucial for maintaining regulatory compliance, avoiding legal issues, and ensuring the accuracy and integrity of production data. If you need help or direction to make sure your measurement and reporting practices are equitable and compliant, we can help you do it right. If you’re interested in learning more on this topic, with additional questions or discussions, please send an email to waynedunnington@bluechipmrc.
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