Of necessity, what constitutes “good oilfield practice” for oil and gas operators constantly evolves to reflect changing economic conditions, technological advances, regulatory amendments and Court decisions. A prudent operator must be cognizant of this landscape and be ready to adapt and respond in order to limit its own losses, as well as its potential liability to its working interest partners under standard operating arrangements.
The recent Alberta Safety Boss decision is a timely reminder that “good oilfield practice”, and prudent risk management, dictates that oil and gas operators have in place pre-negotiated master service agreements with emergency service providers prior to catastrophic events occurring.
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