Coupled with the worldwide health crisis, the oil and gas industry has suffered catastrophic losses resulting from the major downturn in commodity prices. Recently, Eureka Energy Advisors and H.J. Gruy and Associates, Inc. collaborated to formulate procedures for handling the potential ownership changes affecting the industry over the next several months. We prepared an operational strategy to assist financial institutions challenged with owning oil and gas properties. Extensive tabletop exercises were conducted to identify potential situations and develop solutions. Our resulting plan is designed to provide essential support needed to operate and maintain economically distressed assets. Through our partnership, we will deliver expertise and resources ranging from asset management to field operations until a favorable divestiture is achieved.
Scalability and adaptability are built into our established multi-step workflow to address assets of varying size and scope of engagement. Once a specific field is identified, a multi-step strategy and procedural plan will be tailored to the asset.
The basic workflow includes:
- Site inspection and data preservation
- Reserves review and operations assessment
- Findings report with go-forward options
- Continued operations while maintaining regulatory and environmental compliance
- Regular status reporting to the financial entity
- Preparation of the asset details for the data room and the divestiture
We have the skills, the resources, the experience, and the plan to implement a successful and beneficial program to operate and divest an oil and natural gas field.
Eureka Energy Advisors and H.J. Gruy and Associates, Inc. are registered engineering firms. Eureka Energy Advisors provides project management expertise in multidisciplinary field operations and strategy development including drilling, well control, production, completions, workovers, safety and administration, and environmental. H.J. Gruy and Associates provides SEC and PRMS reserves evaluations, economic analysis, field studies, reservoir engineering, geology, geophysics, and petrophysical analysis.
Contact us. We will help you navigate the operations-to-divestment path.
