International understanding, independent thinking

Our staff at ERCE have worked on projects in over 50 countries worldwide. Offering expertise in both onshore and offshore areas, we are proud to be able to contribute valuable insights to our clients subsurface and commercial studies.

Oil and Gas Exploration and Appraisal

ERCE has worked with many successful oil and gas exploration groups throughout our history. Typically, we’ve worked in the following areas.

  • Oil and Gas prospect studies, including identification, risking and ranking
  • Providing an Independent second opinion on oil and gas prospects, for management or board decisions and for financing raises
  • Completing bespoke technical pieces of work to help understand and de-risk prospects. Example projects include basin modelling, seismic evaluation, geology studies including sequence stratigraphy, quantitative geophysics modelling and velocity modelling.

Our work in Oil and Gas Prospective Resources studies has taken us to many regions around the world. Examples include:

  • The whole of the passive margin in West Africa, in both the pre and post-salt environments
  • Offshore Nile Delta, including the deep-water environment
  • North Atlantic and Arctic ocean exploration, including the Barents Sea Norway, offshore Greenland and the Grand Banks Canada
  • Studies of multiple quads, offshore UK
  • Asia Pacific, including Indonesia, Malaysia, Thailand, Vietnam, Myanmar, India...
  • Onshore Kurdistan in multiple reservoir systems
  • Offshore East Africa, across Tanzania, Mozambique and Madagascar

Once a successful discovery is made, it is properly appraised and quantified. This is critical to making appropriate commercial decisions. ERCE is engaged to:

  • Help clients to maximise the use of their existing data
  • Quantify uncertainties such that appraisal programmes can be developed and evaluated for commerciallity
  • Complete independent assessments, used to raise financing for further appraisal work or to move towards field developments

O&G Field Development Support

ERCE’s oil and gas field development support work is focused on helping clients understand their assets better, in order to make technical and commercial decisions.

Field Development is a broad term, which changes depending on the asset. The key to successful field development planning is to use and attempt to reconcile all available subsurface, wellbore and facilities/gathering system information.

ERCE works on a wide range of projections from:

  • Full Field Development Planning, including static modelling, reservoir simulation and commercial evaluation
  • Well Test analysis and Rate Transient analysis to understand well performance for facilities design
  • Reservoir attribute mapping, depth conversion and other geology studies to understand uncertainty in hydrocarbon-in-place sizes.

We work alongside our clients in the development process. Project workflows, goals and deliverables are developed with the asset managers, to ensure that a fit-for-purpose product is delivered.

Our work has been an integral part of several successful FDP, government and regulatory submissions in West, North and East Africa, the UK, SE Asia and Australasia

Operations Support

Senior staff at ERCE have a track record of working for Operators before joining us. Based on this experience, ERCE is actively engaged with a number of clients offering oil and gas operations support during drilling and testing programmes.

In the past 3 years we have worked on a number of projects as:

  • Well Geoscientists during exploration drilling.

Our staff receives real-time drilling information and calibrates the geological model as data arrives. This aids the drilling team in regards to well placement and achievement of the pre-drill objectives

  • Reservoir, Petrophysical and Well Test Engineers, during exploration, appraisal and development wells.

Our staff receive real-time information during drilling, and works with the client staff to identify pay zones via log and MDT, generate well test strategies whilst the rig is on-site, and quantify the size of the discovery, combining seismic and well data.

We have prepared tender requests and received bids for core and test analysis from service providers. We then identify compliant contractors for our clients to quickly select their preferred bidder.

  • M&A specialists, in the preparation of datarooms for divestments, including hosting physical datarooms in our offices and making technical presentations to prospective buyers, detailing the subsurface and commercial details of the opportunity
  • ERCE is also often asked to advance geology studies, quickly update static and dynamic models with appraisal and infill drilling data, and to work with these operational models to help clients make decisions in regards to best-practice activities with their assets. This can include attending TCMs as the client’s representative.

Reserves & Resource Evaluation

Where energy meets expertise

A combination of skills and experience has helped us become an established name in the field of oil and gas Reserves and Resources Evaluation. Our technical abilities alongside our longstanding association with the Society of Petroleum Evaluation Engineers (SPEE) make us an obvious choice for clients requiring:

  • Public Reserves and Resources reporting
  • Competent Persons Reporting
  • Acquisitions or Divestments or Mergers
  • Bond Issues
  • Reserve Based Lending
  • Portfolio Management

We regularly carry out technical audits, often supporting Contingent Resource studies and commercial Reserves. Several ERCE employees are registered members with the SPEE, the leading professional organisation dedicated to global Reserves and Resources evaluation. ERCE engineering director Simon McDonald is President of the society for 2018 and Principal Engineer Paul Taylor is a Director on the society board. Adam Law and Paul Chernik are active members of the European Chapter of the SPEE.

Our clients range from mid-cap producers such as Tullow Oil, Lundin Petroleum, Gulf Keystone, Ophir Energy and Cairn Energy to NOCs such as PetroSA. We also work for a number of small cap start ups.

We often work for the financial community, providing second opinions on the Oil and Gas Reserves and Resources listed by companies, and the risks associated with their development. Our staff have been seconded within RBL groups in the past, and have worked with leading US, UK, European and Japanese banks, providing technical advisory on lending activities. We also actively work with a number of Private Equity firms, providing independent assessments for investments. Our reports cover assets of all types, both onshore and offshore and have included unconventional assets such as deep-water, shale, CBM and heavy oil. ERCE staff provide certified reserves submitted to the UK, USA, Canadian, Australian, Norwegian and Swedish stock exchanges. These exchanges represent the vast majority of all Oil & Gas stocks globally. We are familiar with other reporting standards including SEC, NI 51-101 and UNFC.

Integrated Commercial Evaluation

Discovering the value of energy

ERCE’s economics group is an integrated team of field development engineers and economists undertaking evaluations, valuations and conceptual studies for clients with upstream assets within the exploration, development and production cycle.

Our global knowledge and understanding of commodity pricing, market conditions and M&A trends enable us to provide valuable insights into:

  • Commercial and M&A
  • Conceptual Field Planning and Cost Estimation
  • Economic evaluation of petroleum Reserves and Resources
  • Asset evaluation and valuation
  • Sensitivity modelling of market conditions
  • Scenario planning and cash flow analysis
  • Economic modelling and fiscal expertise
  • Fair market valuations
  • Reserves assessment for Reserves Based lending

We are well respected in the finance community for our independent opinion, high quality deliverables and efficient turnaround and our clients value our fully integrated services on projects of all scales.

Expert & Equity Services

Excellence in Energy

Success as an Expert is dependent on excellence in technical evaluations, understanding procedures, time management and critical evaluation of points of argument. Since 1982, our expertise has been sought in over 30 major disputes in the oil and gas industry, utilising the multi-disciplinary and specialist skillsets of our staff to ensure success for our clients.

Throughout this time we have developed a thorough understanding of court, regulatory hearing and arbitration proceedings.

In recent years we’ve been involved in a number of Oil and Gas Expert Witness projects. We have also prepared Fair Market Valuations for cases before the High Court of Justice in the UK and proceedings under the Arbitration Act of New Zealand.

We are Experts in assessing the impact of commodity pricing, market conditions, M&A trends and the detailed technical aspects of assets, and in the calculation of Fair Market Value.

ERCE has three main rolls as an Expert:

  • As the Expert in Unitisation and Redetermination Proceedings
  • Providing Expert Advisory services for companies preparing for Unitisation and Redetermination proceedings
  • As the Expert Witness in arbitration and court proceedings; relating to subsurface and commercial evaluations

In our experience, Expert processes are more than just technical and commercial analysis. We work with our Oil & Gas, Legal and Accountancy clients and associates to prepare:

  • Detailed Expert Submissions as part of preliminary submissions to court
  • Plan of action during hot tubbing procedures
  • Joint Memoranda to the court, post hot tubbing
  • Supplemental questions for the opposing experts, and responses to the opposing experts, prior to the hearing
  • Presentational material for proceedings, designed for the layman
  • Preparation of witness statements
  • Where required, preparation of a Scott Schedule for court

Our clients range from Independent Oil Companies to Supermajors, Governments, NOC’s and the Courts of Arbitration.