Junior oil and gas companies are busy focusing their efforts on finding, exploring and developing their oil and gas assets. Executives are making decisions and implementing strategies that consider both short and long-term sustainability, drive innovation, meet business goals to position the company for success and build stakeholder confidence.
To support your business and give you informed, practical solutions that reflect the reality of the environment you operate in you want to work with an advisor that truly “gets you” because they focus exclusively on the Junior Oil & Gas sector. PwC is that advisor. We have a team that’s 100% dedicated to the junior oil and gas sector. This commitment allows them to deliver assurance, consulting, deals and tax services specifically designed for juniors.
PwC professionals are well trained to assist you through the financial and tax due diligence process. We can assist in interpreting historical operating results and net working capital/debt position and exposures of the company being evaluated. Our team is available to assist post deal with closing adjustments, purchase price allocations, or other financial reporting needs. Our professionals work closely with your in-house team and your legal and technical advisors throughout the process to identify issues relevant to you on a timely basis.
As part of a global network, PwC has an international team at its fingertips. This guarantees compliance with regulations, controls and accounting policies throughout the world. We have assisted many local-based companies interested in expanding globally with guidance on structuring and capitalizing their foreign investments and repatriating capital and profits for them. Our team is available to support you in gaining access to capital in other markets such as the AIM/LSE.
Foreign Asset Investment Trust (FAIT)
Also known as cross-border income trusts – PwC is the only accounting firm that has been involved in each transaction over the past two years. We were heavily involved in the development of the FAIT structure, so you’ll have access to the resources that understand the technical nuances in the financial models and we’ll be there to help you interpret the rules as they continue to change.
Enhanced Production Audit Program (“EPAP”)
Ensures compliance with Directive 076–“Operator Declaration Regarding Measurement and Reporting Requirements”. PwC can assist with projects relating to controls over volumetric measurement and reporting. We can help you: assess how the key ERCB-EPAP related directives will impact your business; understand the linkage between ERCB reporting themes; non-compliance events and the non-compliance indicators; complete your annual risk assessment for EPAP; and document your current “as-is” operational and production accounting processes and the related controls around volumetric reporting and measurement.
Industry benchmarking study
Most of the benchmarking studies undertaken in the oil industry focus on the larger, global or complex companies. Information from these studies is especially important given recent volatile market conditions – whether investment, merger, pricing, operational, political, environmental or regulatory driven. Our first survey is broad-based and covers topics ranging from Information Technology, Human Resources, Supply Chain Management, Risk and Controls, Financial Effectiveness and Operations.
Under the Scientific Research and Experimental Development investment tax credit program, Canada offers some of the most lucrative tax credits in the world. For certain Canadian-controlled private corporations, or for corporations undertaking SR&ED activities in Alberta, the credit is refundable even if tax isn’t owed. At PwC, we can help optimize your SR&ED claim while minimizing administrative burden.
Value-add tax advice
In addition to the traditional tax compliance and planning services, PwC can help identify optimization opportunities to enhance shareholder value through effective global tax strategies by advising on: appropriate business and financial structures for foreign operations; acquisition and financing of operations and investments abroad; repatriation of funds and taxation of foreign-source income; and the impact of tax treaties, foreign tax holidays and exchange controls.
For start-up operations in Canada, PwC can optimize foreign and Canadian taxes, develop strategies to repatriate Canadian earnings and comply with Canadian tax filings. For those expanding abroad, we work closely with member firms worldwide to provide seamless global tax service to foreign-based multinationals. We help international companies optimize Canadian and foreign taxes, develop tax efficient strategies to repatriate cash to Canada, and comply with Canadian and foreign tax filings to better serve Canadian-based multinationals.
PwC provides risk and control services, as well as NI 52-109 compliance. We have consolidated all of our SOX and CSOX testing engagements. Using a single common methodology and reporting standard, our top-down and risk-based approach is based on the following key principles:
Accounting advisory services
We provide a wide variety of integrated services to both audit and non-audit clients, tailored to accommodate each client’s unique circumstances and needs. Our team of highly experienced accounting professionals, subject matter specialists and local resources across Canada are ready to help you address:
Capital Markets and Accounting Advisory Services
Complex Mergers and Acquisitions
IPOs and Capital Market Transactions
Regulatory Issues and Restatements
GAAP / IFRS Interpretation and Conversions
Accounting Standard Adoption
Other Services and Products
Optimizing income statement & balance sheet positions
Regulatory advisory services
Internal audit effectiveness
Managing risk in IT
Capital project risk assurance
Sustainability and climate change
Audit & other services
Mergers and acquisitions and corporate finance
Debt and capital advisory
Valuation, modelling and disputes
Infrastructure & project finance
Delivering deal value
Corporate tax and advisory
Human resource services
PwC Law LLP
Scientific research and experimental development (SR&ED) credit
Tax mergers and acquisitions
Tax reporting and strategy
Cybersecurity & privacy
Enterprise applications (Oracle, Microsoft, Salesforce, SAP and Workforce)
Delivering deal value
Capital project & asset management
Procurement and supply chain
Digital innovation and transformation