Canada’s largest oil and gas producers may be understating their decommissioning liabilities by billions of dollars, potentially exposing their investors’ portfolios. Through the use of high discount rates and extended asset-life assumptions, reported liabilities can appear a fraction of what more realistic accounting would reveal.
We have documented these gaps in a comprehensive analysis of Canada’s largest upstream producers, with a recent update confirming no meaningful progress in the industry’s 2025 financials.
As the issue can be complex (and to some, perhaps, a tad boring?) we asked Canadian comedian Colin Mochrie to help cut through the complexity. The issue is serious. The explainer is not.
