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Updated / Emerging Occupations

Energy Asset Management Professional

Energy asset management professionals administer contracts and manage financial transactions. They ensure field reporting and information-sharing comply with laws and regulations.

This is an emerging occupation. It may have evolved from an existing occupation or emerged in response to consumer needs or technological advances.

  • Avg. Salary N/A
  • Avg. Wage N/A
  • Minimum Education 2 years post-secondary
  • Outlook N/A
Duties
Updated Mar 31, 2019

Energy asset management professionals work for companies involved in oil and gas exploration and production. They perform administrative tasks to maintain the company’s assets. Energy assets may include:

  • Land rights: surface rights required to build seismic lines, power lines, or pipelines
  • Mineral rights: rights to the oil, gas, and minerals below the surface
  • Wells and facilities: oil- and gas-producing wells and facilities that are solely or jointly owned by the company

Duties performed by energy asset managers vary greatly from one company to another. In general, they:

  • Administer contracts
  • Calculate and report on revenue and operational costs
  • Report volumes of oil and gas production
  • Maintain lease agreements
  • Ensure the company:
    • Obtains licences
    • Reports operational activities
    • Shares information as obligated
    • Follows regulations
  • Maintain records on decommissioning and closure activities
  • Administer third-party agreements, including:
    • Drafting
    • Sending
    • Requesting
    • Executing
    • Filing

Energy asset managers typically specialize in one of several areas.

In joint ventures, they establish and interpret agreements with other oil and gas companies that are jointly investing in oil or gas wells and production facilities.

In operations accounting, they:

  • Calculate and record production costs, ownership interest, and overhead
  • Calculate and report on allocations and payouts
  • Analyze and pay joint-venture billings
  • Review and respond to joint-venture audit queries

In production accounting, they:

  • Report on the volume of oil and gas produced
  • Calculate the associated sales revenues and royalties
  • Ensure regulatory reporting is completed accurately and on time

In mineral land management, they:

  • Establish and interpret agreements to secure access to below-ground minerals rights, working with:
    • Government agencies
    • Landowners
    • Other companies
  • Maintain leases, licences, and contracts
  • Pay mineral rentals

In surface land management, they:

  • Negotiate, establish, and interpret agreements to secure access to above-ground surface rights, working with:
    • Government agencies
    • Landowners
    • Other companies
  • Maintain leases, licenses, and contracts
  • Ensure regulatory guidelines are followed

In wells and facilities asset management, they:

  • Analyze well and facility operational activities
  • Record changes in wells and facilities data
  • Maintain records throughout asset lifecycle
  • Ensure regulatory reporting is completed accurately and on time
  • Ensure the company shares information about wells and facilities as obligated, within and outside the organization
Working Conditions
Updated Mar 31, 2019

Energy asset management professionals usually work in offices. Their hours of work vary depending on the organization and level of responsibility. Depending on the position, overtime and some travel may be required.

  • Strength Required Lift up to 5 kg
Skills & Abilities
Updated Mar 31, 2019

Energy asset management professionals need:

  • Integrity and high ethical standards
  • Math skills
  • Written and verbal communication skills
  • Interpersonal, negotiation, and public relations skills
  • Analytical, time-management, and problem-solving skills
  • Organizational skills and attention to detail
  • Patience
  • Ability to work with little supervision
  • Computer skills
  • Leadership skills to interact with all functions and levels of management
  • Ability to make decisions according to multiple, changing priorities under tight deadlines

They should enjoy:

  • Having clear rules and organized methods to guide their activities
  • Dealing with legal matters
  • Dealing with people from all walks of life
Educational Requirements
Updated Mar 31, 2019

Most emerging occupations evolve from more than one occupation. As such, energy asset management professionals have a variety of education and training backgrounds. Before enrolling in an education program, prospective energy asset managers should contact associations and employers in this field. This will help them research education options and employment potential.

Energy asset managers need to know about:

  • Land (mineral and surface) contracts: acquiring and preserving above- and below-ground rights
  • Joint ventures: establishing agreements and partnership arrangements
  • Production accounting: reporting on producing wells
  • Operations accounting: accounting for operational costs, revenues, and joint-venture activities
  • Well and facility operations: managing well and facility activities from start to finish

Related Education

The following schools offer programs or courses that are related to this occupation but are not required to enter the field.

Southern Alberta Institute of Technology

For a broad list of programs and courses that may be related to this occupation try searching using keywords.

Certification Requirements
Updated Mar 31, 2019

Certification is not required, as there is currently no legislation regulating this occupation.

Employment & Advancement
Updated Mar 31, 2019

Emerging occupations typically are the result of:

  • An increased human need (for example, alternate sources of energy)
  • Technological advances
  • Greater specialization within an occupation.

Often there are too few people working in an emerging occupation to gather survey information. Therefore, it can be difficult to define advancement opportunities or employment outlook.

Energy asset management professionals work for:

  • Oil and gas supply and service companies
  • Pipeline companies
  • Transmission line companies
  • Government

They may start out as junior:

  • Surface or mineral land analysts
  • Royalty or operations accountants
  • Field administrators
  • Drilling technicians or analysts

The employment outlook in this occupation will be influenced by a wide variety of factors including:

  • Trends and events affecting overall employment
  • Location in Alberta
  • Employment turnover (work opportunities generated by people leaving existing positions)
  • Occupational growth (work opportunities resulting from the creation of new positions that never existed before)
  • Size of the occupation
Wage & Salary
Updated Mar 31, 2019

Often there are too few people working in an emerging occupation to gather survey information. Therefore, no current salary data is available for this occupation.

Related Post-Secondary Field of Study
  • Business, Management and Administrative Studies
  • Engineering and Science Technologies
Other Sources of Information
Updated Mar 31, 2019

Alberta Association of Surface Land Agents (AASLA) website: aasla.com

Canadian Association of Petroleum Landmen (CAPL) website: landman.ca

Canadian Association of Petroleum Land Administration: caplacanada.org

Canadian Association of Petroleum Production Accounting (CAPPA) website: cappa.org

International Right of Way Association (IRWA) Calgary Chapter 48 website: www.irwa48.org

Petroleum Accountants Society of Canada (PASC) website: www.petroleumaccountants.com

Petroleum Joint Venture Association (PJVA) website: www.pjva.ca

For more information on career planning, education and jobs call the Alberta Supports Contact Centre toll-free at 1-877-644-9992 or 780-644-9992 in Edmonton, or visit an Alberta Supports Centre near you.

Updated Mar 31, 2019. The information contained in this profile is current as of the dates shown. Salary, employment outlook, and educational program information may change without notice. It is advised that you confirm this information before making any career decisions.

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