To qualify for the WDP your company must be the licensee of an injection well that has first injected water on or after January 1, 2019, and before April 1, 2024, and is approved as part of a waterflood project pursuant to Section 17 of The Oil and Gas Conservation Act.
The applicant must also pass a financial stress test that consists of the following four measures:
- The applicant does not have outstanding debts that are past due to the Ministry of Energy and Resources;
- The applicant has a License Liability Rating (LLR) of 2.0 or greater as established by the Ministry of Energy and Resources;
- The applicant's cumulative value of outstanding royalty deferrals does not exceed 30% of the applicant's average monthly value of oil production; and,
- Provide any additional information, as requested by the Minister of Energy and Resources.
Please refer to the Waterflood Development Program Information Circular for more information.