Practical Consultation – Oil & Gas Play, Prospect & Portfolio
What is Practical Consultation?
We continuously strive to differentiate ourselves by understanding our clients’ challenges. While we may not have all the answers, we are proud to say we have probably heard most of the questions. Practical Consultation is our effort to help companies achieve their predictive and performance goals by matching the solutions to the scope of the problem. We refer to that as “fit-for-purpose” consulting.
Practical consultation with management to help overcome any barriers associated with the installation of their portfolio management system. Practical consultation with staff on their most challenging and intriguing plays and prospects, to help in their unbiased characterization, as well as helping them understand how these entities impact in their undrilled portfolios. After drilling, we can assist with subsequent performance tracking of predictions and show actual results.
If you are interested in requesting a consultation, please complete our Consultant Request Form at the bottom of this page.
Play and Prospect Assessment
Rose & Associates provides their expertise to review specific prospects and plays for clients, utilizing their proven methods of E&P risk analysis. This consulting work is carried out interactively with the client’s professional staff on site, using maps, seismic lines, cross sections and other data specific to each prospect or play.
These engagements typically provide three benefits:
- An independent, knowledgeable and unbiased evaluation of the client’s opportunity set;
- Staff familiarization and training in the process of objective probabilistic prospect and play assessment; and
- Ancillary business applications dealing with economic metrics, optimum working interest, portfolio applications, monetization strategies and post-audit techniques.
Of note: as of July 2010 we have fortified our services in the realm of Play Based Exploration, and utilize Dr. P. Jeffrey Brown as our specialist. Key aspects of Play Based Exploration include creating and maintaining play specific datasets (key well analysis, volumes, success rates); creating and maintaining segmented play maps; spatial balancing (i.e. partitioning probability into shared and prospect specific probability with assigned percentages) of prospect probabilities in the context of the play segment in which they reside; reconciling predicted prospect volumes in the context of discovery history and exploration maturity. Such efforts facilitate more informed decisions at the PLAY level rather than at the next PROSPECT level.
Performance Tracking Studies
Rose & Associates also specializes in evaluating company E&P predictive performance. Such studies can reveal the nature, location and amount of bias in a company’s prospect resource and chance estimating systems, and ways to substantially reduce them. A company may then place their predictive performance in a broader perspective, relative to other major studies on file.
Acquisition and Divestment Studies
We provide baseline prospect and play resource evaluations to guide and temper negotiations associated with equity financing, acreage sales and purchases.
We now offer audits of company exploration assessment and decision-making processes, and the efficacy of a company’s chosen tool set towards effectively executing those processes. These efforts typically involve a diagnostic phase, through staff and management interviews, sample prospect evaluations and an examination of the company’s prime assessment software tools. The results are shared with the client, with specific recommendations they may wish to pursue either independently or in a corrective phase.
We have extensive experience in providing such testimony related to valuation of properties and prospects beneath acreage where ownership and attending rights are under dispute.