Oil & Gas Reserves and Resources Evaluation Services
ERCE is an established name in the field of Oil and Gas Reserves and Resources Evaluation. Several ERCE staff are registered members with the Society of Petroleum Evaluation Engineers (SPEE) which is the leading professional group dedicated to oil and gas Reserves and Resources evaluation, and is a co-author of the SPE PRMS and author of COGEH. Simon McDonald, Engineering Director of ERCE, is also a Board Member of the world-wide SPEE. Shane Hattingh, a Principal Engineer at ERCE is also board member of the European Chapter of the SPEE. We work with dozens of clients each year, either generating evaluations for public disclosure or for confidential purposes. Our reports are used for:
- Public Reserves and Resources reporting. We are the Reserves and Resources auditors for a number of E&P companies.
- Acquisitions or Divestments or Mergers
- Bond Issues
- Reserve Based Lending
- Portfolio Management
Our staff are called upon to audit client’s prospect studies, contingent resources evaluations and commercial reserves. Often we 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. Our audit clients range from mid-cap producers such as Tullow Oil, Lundin Petroleum, Gulf Keystone, Ophir Energy and Cairn Energy, to exploration focussed firms such as African Petroleum and Europa Oil & Gas, to NOCs such as PetroSA.