Reserves Verification - Offshore Fields

We provided technical support to a bank acting as part of a consortium providing refinancing to an E&P company active in the UK sector of the North Sea. We assessed production and other data from a producing field and two undeveloped fields that formed the re-financing collateral. We performed Independent reserves determinations and assessments of production forecasts to ensure that a solid collateral basis had been established. We identified the key technical risks associated with the reserves assessments and production operations; We also advised on contingencies to be considered in the refinancing.

We developed reserves verifications for several fields located in the UKCS in accordance with PRMS standards and based on reserves reports submitted by other consultants. We also prepared bank case production profiles which were used in valuing the properties for financing purposes. 

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