Trade.Information

Product Name: Petroleum Consulting Projects (North America)

Product Description

• Responsible for annual reserve report preparation for numerous U.S. oil and gas companies and financial institutions. These reports are used for U.S. Securities and Exchange Commission (SEC) reporting, internal financial reporting, and company budgeting and planning.
• Responsible for the preparation of the Annual SEC Reserve Report, internal budgeting and planning, and merger and acquisition advice for Devon Energy Corporation since 1979. LPC has been closely involved in advising Devon as they have successfully grown into one of the top four U.S. independents. Recently acted as reserve advisor for Devon in the mergers with PennzEnergy, Santa Fe-Snyder and Mitchell Energy.
• Prepared reserve report for SEC reporting for the Canadian subsidiary of a Fort Worth, Texas based independent including significant coalbed methane reserves in Alberta. This project included significant petrophysical and geological analysis of thin, discontinuous, and low-pressure Cretaceous-age coals.
• Prepared field study of La Reforma field, South Texas including detailed petrophysical analysis. Our work included review and correction of computer based log analysis of petrophysically complex Oligocene-age Vicksburg reservoirs. This study has led to significant drilling activity and reserve additions for the clients.
• Prepared detailed field studies on two fields operated and owned by Pemex. Detailed reserve and original oil and gas in place studies were completed in addition to specific operational and drilling recommendations including secondary recovery implementation and methodology.
• Prepared field study of Bald Prairie field, Robertson County, Texas for a major independent. Geological and petrophysical analysis of the Bossier sands and Cotton Valley lime oolite reservoirs led to a recommendation of a 60 well drilling program and addition of over 70 Bcf of proved reserve to the client.
• Evaluated all Kerr-McGee North America Onshore Corporation reserves for the merger with Devon Energy Corporation. The reserves of more than 50 fields located in a variety of geological provinces were audited and/or evaluated. Our work was the basis for the determination of whether to proceed with the acquisition, and the amount of Devon stock to be received by Kerr-McGee.
• Performed multiple studies of shale gas reservoirs in the Mid-Continent region including the giant Newark Barnett shale field of North Texas as well as the Pennsylvanian shales of the Palo Duro Basin, Woodford and Caney shales of Oklahoma, Atrum shale of Michigan and Fayetteville shale of Arkansas.
• Performed multiple detailed studies of coalbed methane (CBM) reservoirs in the San Juan, Powder River, Appalachian, Anadarko, Forest City and Black Warrior Basins for many clients. Our experience in estimating CBM reserves includes performance analysis techniques, volumetric calculations, material balance and reservoir simulation.
• Generated volumetric reserves estimates on multiple onshore and offshore Gulf Coast fields incorporating production, seismic, engineering, petrophysical and geological data.
• Performed integrated field study of the Tinsley Field (Mississippi) including independent 3-D seismic interpretation and petrophysical analysis; generated multiple workovers recommendations, three proved drilling locations, three probable drilling locations and one high potential exploration drilling location.
• Performed integrated field study of Lake St. John Field (Louisiana), including 3-D seismic interpretation and identification of re-development opportunities.
• Conducted a regional geologic study of Crockett County, Texas integrating a previous field study of the Ozona Field, resulting in the identification of 18 proved drilling locations and multiple workovers in the Clearfork, Canyon, and Strawn.
• Performed an integrated field study of the Altamont-Bluebell Field, Utah for Devon Energy Corporation. The study evaluated infill drilling and behind pipe potential for the field. This included detailed petrophysical and geological evaluation of multiple relatively thin sandstone reservoirs. Over 30 proved drilling locations and 80 behind pipe workovers were recommended.
• Generated multiple drilling and workover opportunities in South Pass Block 27 and South Pass 39, South Louisiana for Energy Partners LTD. Advised EPL staff and management on preparation of a field depletion plan. All work was done in the client office utilizing 3-D seismic, subsurface geology and engineering data.
• Prepared a tertiary recovery (CO ) feasibility study of McComb Field, Mississippi incorporating all available engineering, petrophysical and geologic data. Results of our evaluation verified that the CO project was economical to implement and the field is now under flood.
• Prepared expert testimony, advised council, and provided depositions concerning reserves in an East Texas oil and gas field. The field was the subject of a multimillion dollar litigation and our opinions were critical to the resolution of the dispute.
• Prepared detailed volumetric analysis of House Creek Field, Wyoming a Sussex sand field under waterflood. The evaluation included analysis of analog waterfloods, infill drilling benefits, estimated ultimate recoveries, and production profiles. Our report was used to justify a 100 plus well infill program.
• Evaluated the Grayburg-Jackson and Maljamar Fields, New Mexico to estimate reserves and determine waterflood feasibility for multiple clients. These Permian Basin fields produce from tight sandstones and carbonates.
• Evaluated the giant Bay Marchand Field as part of a sale of the South Timbalier 26 portion (and the farm-in of another portion) of the field to an U.S. independent. Work included subsurface and seismic mapping, reservoir studies, an economic evaluation and a field valuation.
• Completed a comprehensive reserve study of the South Coles Levee Field, Kern County, California. This acquisition study detailed reserve estimation, operating cost analysis, and estimations of cost efficiencies to enhance future value.
• Prepared reserve estimate of Carpinteria Field, offshore California for a major international bank.
• Prepared corporate analysis of several Independent U.S. oil firms on behalf of a Canadian based financial analyst. Our work included an analysis of all public data with review and commentary.
• Prepared a divestiture package for a Fort Worth based company with properties in South Texas, South Louisiana, West Texas and New Mexico. Client withdrew package for economic reasons.
• Evaluated the exploration portfolio of a Midland based independent with emphasis on potential economic scenarios. Properties were located in Colombia, Texas and New Mexico.
• Participated with Devon management to restructure their investment portfolio by identifying strategic asset sales for their Mid-Continent/Permian Division. Facilitated the divestiture of property packages in New Mexico, Oklahoma, West Texas and Mississippi.
• Evaluated East Texas divestiture properties of a large Houston based oil company for a well-known Dallas independent oil company, including presentations to bank financing consortium. LPC evaluation was the basis for the successful acquisition.
• Completed reservoir simulation of the Hurl State waterflood area of the giant Prudhoe Bay Field on the North Slope of Alaska. The study evaluated the potential development alternatives for the area and estimated recovery for various secondary and tertiary recovery processes.(1)
• Prepared unitization studies on multiple fields in the Gulf of Mexico including one significant multi-block field in the deep water area.(1)
  
  (1) Projects completed by our staff prior to joining LPC