Oil Valuation

Petrinex is engaged in a cleanup project to review our older tips for either retirement if not longer required, or updating which is not meant to change the intent of the original tip but to update to the current state.

Jurisdiction	Topic Area	Date – Last Published	Title	Purpose

SK	Oil Valuation and Volumetrics	Jan 28/20 Updated	PURREC at WP and CT and Limitation of "WO"	To inform industry of changes to use of PURREC at WP and CT and the limitation of use of "WO effective Jan 2020.
SK	Oil Valuation	July 31/19 Updated	Oil Valuation - Royalty Tax Payer Report	To notify SK EVAP stakeholders of the update on Oil Valuation - Royalty Tax Payer Report to show a new data element "Arms length transaction (Yes/No)" in all three report formats (XML/CSV/PDF)
SK	Oil Valuation	Jan 9/18	Oil Valuation - Updated Information Circular PR IC-09: Well-head Value of Crude Oil	To inform Industry that ER has updated the information circular PR IC-09. This document provides guidance related to the determination of Sales Price and Trucking Expenses that are to be reported to ER within Oil Valuation functionality (i.e. OV TRP and OV Purchaser records).
SK	Oil Valuation	Nov 6/17	Changes to Online Data Field: Names	To inform Industry that ER is changing 5 data field names that display online in Oil Valuation functionality. (i.e. OV RTP and OV Purchaser records.
SK	Oil Valuation	Sept 13/17	Oil Valuation - Changes to Pipeline Split Functionality Affecting OVE003, OVE007, OV#008 Errors	This tip is to inform Industry that ER has implemented a change to Petrinex that will cease the rolling up of cascade merge (CASMER) volumes for the purchaser oil valuation records. In addition, a details button has been added to the purchaser oil valuation records so that purchasers can view which cascaded volumes have been rolled up into the single oil valuation volume.
SK	Oil Valuation	June 29/17 Updated	Implementation of the new Oil Valuation Error - OVE008 for the Province of Saskatchewan	This tip is to inform Industry that ER has implemented a new chargeable oil valuation error - OVE008. The OVE008 non-compliance error will be generated when the difference between the gross price submitted by the Royalty Tax Payer and the gross price submitted by the Purchaser is greater than five cents.
SK	Oil Valuation	June 29/17 Updated	Implementation of the new Oil Valuation Error - OVE007 for the Province of Saskatchewan	This tip is to inform Industry that ER has implemented a new chargeable oil valuation error - OVE007. The OVE007 non-compliance error will be generated when the difference between the Petrinex auto-generated sales volume and the Purchaser submitted volume is greater than one cubic metre.
SK	Oil Valuation	June 26/17	$US/$Cdn Exchange Rate for Oil Valuation	To inform Industry that ER has developed an exchange rate policy that can be used as an acceptable method to convert transaction prices from $US per barrel to $Cnd per cubic metre for Petrinex reporting purposes.
SK	Oil Valuation	Apr 7/17 Updated	Oil Valuation - OVE003 and OVE008 Errors May still Generate with Correct Reporting under Specific Volumetric Scenarios	To inform Industry that under very specific volumetric scenarios, coupled with specific pipeline split submissions, oil valuation errors OVE003 and OVE008 may be generated even when the Oil Valuation Royalty Tax Payer submissions are correct.
SK	Oil Valuation	Apr 7/17	Oil Valuation - OVE007 Error Troubleshooting	To advise Industry that under very specific volumetric scenarios an oil valuation errors OVE007 may be generated inadvertently and also to provide guidance to Industry with respect to how to properly eliminate the error.
SK	Oil Valuation	Sept 22/16	New Report that Identifies Pending or Pending Delete Records	To inform Industry that ER has introduced a new report identifying pending (P) and pending delete (D) records in order to assist Industry with Oil Valuation reporting.
SK	Oil Valuation	Dec 9/13 Updated	Related Business Associate Information Required for Enhanced Valuation Audit Program (EVAP) Participants	To remind operators that will be impacted by the new EVAP to identify any Related Business Associate information in order to ensure that Petrinex functionality can accurately identify situations that trigger the requirement for an EVAP declaration
SK	Oil Valuation	Dec 9/13 Updated	Enhanced Valuation Audit Program	To inform users of a new ER directive related to the new EVAP, inform users of new functionality introduced to Petrinex to support EVAP and provide BAs with high-level readiness recommendations associated with EVAP.
SK	Oil Valuation	Jul 12/13	Termination of Subsequent Purchaser and Sales to Subsequent Purchaser Functionality for Saskatchewan Users	To inform users that commencing Aug 8th 2013 (effective with the Aug 2013 production month) oil valuation submissions related to Subsequent Purchaser and Sales to Subsequent Purchaser will no longer be required by ER, and thus this functionality will no longer be available in Petrinex after this date. Also to provide a high level introduction to a new Enhanced Valuation Audit Program (EVAP) currently being developed in Petrinex for implementation in Saskatchewan at a later date.
SK	Oil Valuation	Nov 27/12	Reporting Requirements for Subsequent Purchaser, Sales to Subsequent Purchaser, Buy/Sell Agreements and Deliveries to Refineries	To explain the reporting requirements with respect to Industry submissions of pipeline stream purchases, sales and deliveries to refineries.
SK	Oil Valuation and Monthly Reporting - Volumetrics	July 20/12	Extension of Shadow Billing for All Saskatchewan Error Messages Other than Volumetrics	This tip is to inform SK users of an extension to the shadow billing period for all reporting errors with the exception of volumetric reporting errors for non-waste plants. ER also wants to clarify that errors for all production months commencing with March 2012 must be corrected by the end of shadow billing for Industry to avoid being invoiced for penalties that will be payable within 30 days of invoice date.
SK	Oil Valuation and Month Reporting - Pipeline Splits	June 29/12 Updated	Process Change for Oil Pipeline Split and Valuation Management for Non-waste and Waste Plant Facilities	This tip informs SK users of a process change in reporting Oil Pipeline and Valuation Management at non-waste and waste plant facilities.