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Occupational Profile
Emerging Occupations

Energy Asset Management Professional

Energy asset management professionals administer contracts, manage financial transactions and ensure field activity 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 Dec 20, 2016

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

  • land rights: surface rights required for seismic lines, power lines or pipeline construction
  • mineral rights: rights to the oil, gas and minerals below the surface
  • wells and facilities: oil and gas producing wells and facilities owned or jointly owned by the company.

The duties performed by energy asset management professionals vary greatly from one organization to another. In general, they:

  • administer contracts
  • calculate and report on revenue and operational costs
  • report on oil and gas production volumes
  • maintain lease agreements
  • ensure licences are in place, operational activities are reported, well information sharing obligations and regulations are followed.

Energy asset management professionals typically specialize in one of the following areas.

In joint ventures, they establish and interpret agreements with other oil and gas companies who 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 with government agencies, landowners and other companies to secure access to below ground minerals rights
  • maintain leases, licences and contracts
  • pay mineral rentals.

In surface land management, they:

  • negotiate, establish and interpret agreements with government agencies, landowners and other companies to secure access to above ground surface rights
  • maintain leases, licenses and contracts
  • ensure regulatory guidelines are followed.

In wells and facilities asset management, they:

  • analyze well and facility operational activities
  • record resulting changes in wells and facilities data and maintain records throughout asset life cycle
  • ensure regulatory reporting is completed accurately and on time
  • ensure wells and facilities information sharing obligations are met (within and outside the organization).
Working Conditions
Updated Dec 20, 2016

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 Dec 20, 2016

Energy asset management professionals need the following characteristics:

  • integrity and high ethical standards
  • good math skills
  • excellent oral and written communication skills
  • excellent interpersonal, negotiation and public relations skills
  • excellent analytical, time management and problem solving skills
  • good organizational skills
  • attention to detail
  • patience 
  • the ability to work with little supervision.

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 Dec 20, 2016

Most emerging occupations develop from more than one occupation, so energy asset management professionals may come from a variety of education and training backgrounds. Prior to enrolling in an education program, prospective energy asset management professionals should contact associations and employers in this field to investigate education options and employment possibilities.

Energy asset management professionals need to be knowledgeable 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.

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

Employment & Advancement
Updated Dec 20, 2016

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 are employed by:

  • oil and gas supply and service companies
  • pipeline companies 
  • transmission line companies
  • government.

Future opportunities may be available in alternative energy companies (for example, wind or solar power).

Energy asset management professionals 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 Dec 20, 2016

The Centre for Energy Asset Management Studies estimates an average starting salary for energy asset management professionals to be $56,233 a year (2014 estimate).

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 High School Subjects
  • English Language Arts
Related Post-Secondary Field of Study
  • Business, Management and Administrative Studies
  • Engineering and Science Technologies
Other Sources of Information
Updated Dec 20, 2016

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

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

Canadian Association of Petroleum Land Administration: www.caplacanada.org

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

Centre for Energy Asset Management Studies (CEAMS) website: www.ceams.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, visit the Alberta Learning Information Service (ALIS) website, call the Alberta Career Information Hotline toll-free at 1-800-661-3753 or 780-422-4266 in Edmonton, or visit an Alberta Works Centre near you.

Updated Mar 09, 2016. 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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