United States
Challenge
An international investment management organization needed transactional advisory and technical environmental support to acquire more than 51,000 acres of upstream assets. The target assets included more than 1,600 wells and ancillary production operation facilities that required thorough evaluation for significant environmental issues and related potential compliance or production constraints.
Solution
TRC provided a team of seasoned exploration and production experts to implement an asset-wide evaluation program that included: site inspection teams equipped with TRC’s proprietary mobile technology/data collection systems; the creation of a GeoDatabase catalog of over 1,600 high priority production wells/facilities; and a management database that delineated baseline conditions for each site. TRC’s assessment included a detailed risk quantification, cost estimates to address individual known and potential environmental risks, and an environmental Social Governance Assessment.
Result
The client was able to timely evaluate, identify, quantify and negotiate deal terms related to identified material environmental defects, leading to the successful $900 million acquisition.
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Sharing Our Perspectives
Our practitioners share their insights and perspectives on the trends and challenges shaping the market.
New Jersey Implements Landmark Environmental Justice Regulations
August 2, 2023
A new landmark Environmental Justice (EJ) law is now effective in New Jersey following a lengthy rulemaking process surrounding the New Jersey Department of Environmental Protection’s (NJDEP) Administration Order (AO) No. 2021-25. It is the first rule of its kind and the strongest EJ regulation in the nation.
New Phase I ESA Standard Will Affect Environmental Due Diligence
January 25, 2022
After years of review, revisions and discussions, the new ASTM E1527 Phase I Environmental Site Assessment (Phase I ESA) standard has been published. The new standard includes updates to definitions, clarifications on processes and requirements, and guidance for emerging contaminants.
Managing EHS & ESG Risks Through Integrated Systems Today and Beyond
July 22, 2021
It has been more than 50 years since the development and establishment of the federal Environmental Protection Agency (EPA) and the federal Occupational Safety & Health Administration (OSHA) which were formed to protect our environment and workplaces across the United States. Significant laws, policies and regulations followed to establish the “regulatory programs” that all applicable businesses and entities must address and meet to ensure these compliance-driven legislative programs would create a foundation to protect our society.
A billion-dollar BrewDog: TRC advises private-equity client on major craft beer investment deal
April 19, 2021
When one of America’s leading private-equity companies decided recently to buy a stake in one of the world’s fastest-growing craft-beer brewers, the deal team sought advice from TRC.
TRC Announces Collaboration with Greenstone Reinforcing Integrated ESG, Sustainability and Climate Risk Solutions
June 26, 2020
Recently TRC’s Rick Sisk, Vice President – Transaction Advisory Services, was part of Intralinks virtual roundtable series Oil & Gas Part II, “Has Oil & Gas Run Out of Steam?” Like many industries, oil and gas has been significantly impacted by the COVID-19 pandemic. In the first part of our industry roundtable on the topic held this past spring, a distinguished panel of experts outlined how the dramatic plunge in oil demand hit the industry hard. There was little optimism for quick recovery at the time. So where are we now? To learn more, Intralinks reconvened a panel of experts — Jamie Garrett, Principal at JoyCap Advisory LLC (formerly VP M&A, Direct Energy); Ian Graham, Senior Finance Director, Corporate Development Tax & Treasury at Trican Well Service, and Rick Sisk, Vice President, Transaction Advisory Services (oil & gas) at TRC Companies — to see the how oil and gas market has fared over the past few quarters. We also considered what 2021 might look like for an industry in flux.
COVID-19 and Implications for ESG Investing
June 3, 2020
This global pandemic has exposed business vulnerabilities and recalibrated material Environmental Social and Governance factors for investors.
TRC Brings Environmental Services to Manchester with Second UK Office
March 5, 2020
In continuing to expand our presence in a key British market, TRC is opening our second UK office in Manchester, England
Changes to EPA’s Risk Management Program (RMP) Regulations Are Coming
April 14, 2023
Changes to the Risk Management Program (RMP) regulations were signed into a final rule on February 27, 2024, by EPA Administrator Michael S. Regan.
Routinely Evaluating the Health & Effectiveness of Integrated Systems to Manage EHS/ESG Risks – Part I
March 1, 2023
Once established, an EHS/ESG management system must be routinely evaluated to ensure it remains effective to identify and control risks, as well as accommodate and adjust for changes that occur to/within the organization.
EPA Publishes Effluent Guidelines Program Plan 15
February 14, 2023
The EPA announced updated effluent limitations guidelines under Plan 15, focusing on the evaluation and rulemaking process for per- and polyfluoroalkyl substances (PFAS) discharges.
Proactive Enforcement is Key in the EPA FY2022-2026 Strategy
October 19, 2022
A core element of the EPA FY2022-2026 Strategic Plan focuses on environmental compliance.
Optimizing EHS/ESG Information Management and Reporting Systems by Leveraging Innovative Digital Technology Solutions
August 10, 2022
A single, integrated enterprise wide EHS/ESG IMS can significantly improve performance and communicate progress towards organizational requirements and goals.
Five New PFAS Added to EPA Regional Screening Levels (RSLs)
June 24, 2022
EPA announced the addition of five new PFAS to the list of Regional Screening Levels (RSLs)
Integrating Sustainability, Digital Connectivity and Design Optimization in Wastewater Treatment Systems
June 20, 2022
Some organizations rarely think about water and wastewater treatment, until there is a problem. American industry depends on the ability to treat wastewater discharges while complying with regulatory standards and addressing emerging contaminants. If wastewater treatment fails, our environment is negatively impacted, and companies are exposed to shutdowns, delays and fines.
Support an Integrated EHS/ESG Management System
June 10, 2022
While a Phase I Environmental Site Assessment (ESA) is a common method for identifying environmental liabilities during transactional due diligence, the ASTM International standard for Phase I ESAs (E1527-13, with proposed E1527-21 awaiting adoption) omits regulatory compliance from its scope. For properties containing operations that may be applicable to environmental compliance regulations, performing a limited environmental regulatory review can identify potential deficiencies with the environmental management of the facility. A limited environmental compliance review typically evaluates the presence of material findings that may exist in a facility’s management of its environmental compliance requirements. Material findings are defined as a condition of non-compliance that could necessitate expenditures, not including attorney fees or regulatory agency penalties, in excess of a specified dollar amount or materiality threshold. The materiality threshold is based on the client’s risk tolerance and is often in the range of $50,000. However, this amount is arbitrary and can be revised as appropriate. Non-material deficiencies, those identified below the materiality threshold, would still require action but are within the client’s risk tolerance.
Worst Case Discharges of Hazardous Substances – Proposed Rule
May 25, 2022
In compliance with the Clean Water Act (CWA), the U.S. Environmental Protection Agency (EPA) recently proposed a new rule for onshore non-transportation-related facilities requiring specified facilities to plan for worst case discharges (WCDs) of CWA hazardous substances that could cause substantial harm to the environment.
PFAS Discharges and NPDES Permits
May 25, 2022
On April 28, 2022, the U.S. Environmental Protection Agency’s (EPA) Office of Water released a memo addressing the use of National Pollutant Discharge Elimination System (NPDES) permits to restrict per- and poly-fluoroalkyl substances (PFAS) discharges to water bodies.
How to Use an Integrated Approach To Manage EHS and ESG Risks
April 20, 2022
While a Phase I Environmental Site Assessment (ESA) is a common method for identifying environmental liabilities during transactional due diligence, the ASTM International standard for Phase I ESAs (E1527-13, with proposed E1527-21 awaiting adoption) omits regulatory compliance from its scope. For properties containing operations that may be applicable to environmental compliance regulations, performing a limited environmental regulatory review can identify potential deficiencies with the environmental management of the facility. A limited environmental compliance review typically evaluates the presence of material findings that may exist in a facility’s management of its environmental compliance requirements. Material findings are defined as a condition of non-compliance that could necessitate expenditures, not including attorney fees or regulatory agency penalties, in excess of a specified dollar amount or materiality threshold. The materiality threshold is based on the client’s risk tolerance and is often in the range of $50,000. However, this amount is arbitrary and can be revised as appropriate. Non-material deficiencies, those identified below the materiality threshold, would still require action but are within the client’s risk tolerance.
SEC Releases New Proposed Rules Requiring Public Companies to Disclose Climate Risks
April 12, 2022
On March 21, 2022, the U.S. Securities and Exchange Commission (SEC) issued its proposed rules for The Enhancement and Standardization of Climate-Related Disclosures for Investors which would require public companies in the U.S. to disclose information in their annual financial reports.
PFOA & PFOS As CERCLA Hazardous Substances: What Does This Mean and How Can You Be Prepared?
February 17, 2022
A plan to designate two per- and polyfluoroalkyl substances (PFAS) as “hazardous substances” under CERCLA was recently submitted by the EPA.
EPA Adds First New Hazardous Air Pollutant Since 1990
January 14, 2022
EPA finalized a rule to add 1-bromopropane to the federal list of hazardous air pollutants (HAPs) on December 22, 2022.
EPA Finalizes TRI Reporting Requirements for Natural Gas Processing Facilities
December 7, 2021
EPA finalized rule to add natural gas extraction and/or processing plants to Toxics Release Inventory reporting requirements
OSHA’s National Emphasis Program on Heat-Related Illness and Injuries
November 3, 2021
On September 20, 2021 in an OSHA National News Release, OSHA published a memorandum establishing an enforcement initiative that is designed to prevent and protect employees from heat-related illnesses and death. This initiative, which develops a National Emphasis Program (NEP) on heat inspections, is an expansion of an already existing Regional Emphasis Program (REP) in OSHA’s Region VI, which covers Arkansas, Louisiana, New Mexico, Oklahoma and Texas.
NJDEP Implements New Jersey Environmental Justice Law Through Administrative Order
October 5, 2021
On September 22, 2021, the New Jersey Department of Environmental Protection (NJDEP) Commissioner announced the issuance of Administrative Order (AO) No. 2021-25 to implement New Jersey’s Environmental Justice (EJ) Law. This order is effective immediately, and applicants seeking to site new major source facilities, renew major source permits or expand existing facilities with major source permits (e.g., Title V air permits) in overburdened communities are affected. There are more than 4.5 million people that live within 331 municipalities that are overburdened communities in the state of New Jersey.
OSHA’s Call for Comments on Mechanical Power Press Standard Changes
September 30, 2021
OSHA has recently published a call for comment regarding mechanical power presses. The reason behind OSHA’s request is that the American National Standards Institute (ANSI) consensus standard for mechanical power presses has been updated numerous times since the implementation of OSHA’s standard.
OSHA Returns to In-Person Inspections As COVID-19 Restrictions Lift
August 4, 2021
The Occupational Safety and Health Administration (OSHA) is authorized by the Occupational Safety and Health Act of 1970 (OSH Act) to assure employers provide safe and healthful work conditions free of recognized hazards and by setting and enforcing standards and providing training, outreach, education and technical assistance. OSHA has recently announced the return to in-person inspections as COVID-19 restrictions begin to lift.
EPA Proposed PFAS Reporting Requirement
July 29, 2021
New proposed rule would require all manufacturers and importers to report any amount of PFAS onsite
Managing EHS & ESG Risks Through Integrated Systems Today and Beyond
July 22, 2021
It has been more than 50 years since the development and establishment of the federal Environmental Protection Agency (EPA) and the federal Occupational Safety & Health Administration (OSHA) which were formed to protect our environment and workplaces across the United States. Significant laws, policies and regulations followed to establish the “regulatory programs” that all applicable businesses and entities must address and meet to ensure these compliance-driven legislative programs would create a foundation to protect our society.
OSHA COVID-19 Guidance, Regulation and Enforcement to Protect Workers
April 13, 2021
The Occupational Safety and Health Administration (OSHA) has signaled their intent to provide more guidance, regulation and enforcement with respect to protecting workers from contracting COVID-19 at their place of work. Among the key developments:
2020: A Year to Remember or a Year to Forget?
December 20, 2020
Published in EM Magazine, December 2020, this article by TRC’s David Elam speaks to the importance of pausing to reassess the work challenges we’ve faced due to COVID-19 this year and our accomplishments despite the challenges, and how to prepare for the coming year, after one of the most difficult years in modern history.
TRC Companies Inc. Acquires 1Source Safety and Health
November 11, 2020
TRC Companies (“TRC”), a leading technology-driven provider of end-to-end engineering, consulting and construction management solutions, has acquired 1Source Safety and Health, a firm that provides management consulting services in areas such as indoor air quality, asbestos management, industrial hygiene and safety management systems.
TRC Awarded a Yahara WINS Grant
August 28, 2020
TRC was recently awarded a Yahara WINS grant to develop a pilot scale simple aeration method for removing phosphorous from the discharge of manure digesters. The grant application was developed and submitted by: Bob Stanforth, Alyssa Sellwood, Mike Ursin, Ted O’Connell, Ken Quinn, and John Rice, who are members of multiple TRC CORE teams.
Ecological Risk of PFAS from AFFF-Impacted Sites
June 30, 2020
The facts on evaluating exposure to wildlife
How to Implement ISO 45001 – 2018, Occupational Health and Safety Management System
April 1, 2020
In March 2018, ISO finalized its occupational health and safety (OH&S) management system standard ISO 45001-2018. For those companies certified under the former occupational health and safety management system standard OHSAS 18001, the clock is ticking if you are considering migrating to the new ISO standard and maintaining your current certification. Companies that have implemented OHSAS 18001 and are interested in maintaining certification have until March 2021 or about a year to implement the new standard or lose certification.
TRC Brings Environmental Services to Manchester with Second UK Office
March 5, 2020
In continuing to expand our presence in a key British market, TRC is opening our second UK office in Manchester, England
2020 New Year’s Safety Resolution? How About Construction Safety?
February 20, 2020
Safety isn’t all about tracking statistics. To make it work, you need to interact positively with people. TRC construction health and safety specialist Cody Gladstone explains how to gain credibility on the jobsite and get everyone home safe at the end of the day.
The Importance of Effective Construction Management in Data Centers
January 7, 2025
In today’s digital age, data centers form the backbone of cloud computing, artificial intelligence and the vast array of digital services we rely on daily. As the demand for data centers rises, companies are racing to expand these facilities.
TRC Companies Inc. Acquires 1Source Safety and Health
November 11, 2020
TRC Companies (“TRC”), a leading technology-driven provider of end-to-end engineering, consulting and construction management solutions, has acquired 1Source Safety and Health, a firm that provides management consulting services in areas such as indoor air quality, asbestos management, industrial hygiene and safety management systems.
Targeting Perfection in the Construction and Operation of Pipelines
October 18, 2019
To have an impact on the delivery or operation of a pipeline, it’s vital to eliminate the intra- and inter-company barriers, including those in the areas of communications, culture and technology.
PHMSA Publishes New Rules to Increase the Safety of Hazardous Liquid Pipelines and Gas Transmission Pipelines
September 25, 2019
The Pipeline and Hazardous Materials Safety Administration this week published important new rules aimed at improving pipeline safety.