Wells and Facilities – WIP Information Accuracy
In order to maintain eligibility, Directive 067: Eligibility Requirements for Acquiring and Holding Energy Licences and Approvals, requires licensees to keep accurate information on file, including working interest participant (“WIP”) information. A WIP is a person who owns a beneficial or legal undivided interest in a well or facility under agreements that pertain to the ownership of that well or facility.
Licensees can review and update their WIP information through the Closure Activity and Spend Report in OneStop. WIP records reflect private agreements between parties and must be managed by the licensee. The AER noted that it will not update records managed by active licensees. In the case of defunct licensees supporting documentation is required by the AER before a request to alter WIP records will be considered.