Case Studies

Acquisition Due Diligence – Offshore Gas Field

Overview An international investment bank contacted RISC to conduct due diligence on the subsurface performance of an offshore gas field that had recently started production. The field had a long pipeline to shore and a dedicated gas plant. The seller was a super-major operator. Our approach The RISC team started with a brief audit of […]

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Acquisition Due Diligence – Private Equity Backed Operator

Overview A UK-based operator requested RISC’s view of the subsurface geology, geophysics and reservoir engineering to support an acquisition bid for a small portfolio of producing fields. Due to the short timeline for the bid, the report deadline was only 2 days after access to the data. Our approach RISC reviewed the data available and […]

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Offshore Gas Exploration Prospect – Geoscience Peer Review

Overview An international oil and gas operator approached RISC to provide an independent peer review of an exploration prospect within one of their UK offshore licences. The licence was due to expire in the near future and the operator was considering whether or not to seek a licence extension. Our approach The RISC team started […]

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Exploration Due Diligence in Ghana

Overview Our client was an international company who were looking to farm-in to an exploration opportunity in Ghana. They asked RISC to provide an independent assessment of size and risk of the key prospect and leads. Challenge The exploration opportunity was a new play within Ghana, which inherently carries a high exploration risk. But vendor carried […]

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Gavin Ward and Dean Baker’s ‘East Irish Sea, Rhyl field’ paper published in the Geological Society of London

RISC’s Gavin Ward and Dean Baker’s ‘East Irish Sea, Rhyl field’ paper has been published in the Geological Society of London as part of the Petroleum Geology Conference Series. It discusses developing a new structural model by integrating basic geological principles with advanced seismic imaging in the Irish Sea. The paper has received praise for […]

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Red flag report and field evaluation

Overview A London based Private Equity company asked RISC’s London office to carry out an initial Red Flag report on the oil production from a field in South East Asia, which was being produced through a floating production, storage and offloading (FPSO) vessel, so that they could evaluate whether the production was secure enough for […]

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Multi-field acquisition due diligence

Overview In 2013 Murphy Malaysia sold a 30% interest in its 24 oil and gas fields offshore Sabah and Sarawak. Time available for conducting due diligence and submitting a bid is usually limited. RISC attended the data room and completed quality acquisition due diligence over a four-week period and provided to our client the independent […]

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Assisting the ASX to roll-out revised Listing Rules for petroleum companies

Overview In 2012 the ASX announced changes to the Listing Rules that would impact reporting by petroleum companies. The new Rules stipulated that all reporting should be compliant with the 2007 Society of Petroleum Engineers’ Petroleum Resource Management System (PRMS). As a recognised expert in reserves and resources evaluation and reporting, RISC was engaged by […]

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Reserves reporting to multiple reserves and resource evaluation and Bourse Standards

Overview An Australian independent oil and gas producer with Canadian and Australian stakeholders requested RISC to prepare an annual reserves and resources audit including Net Asset Valuation (NAV) for their fields. The report needed to be PRMS, SEC, ASX, NI 51-101 and COGE compliant and assist their management in Bourse annual filing statements. Challenge The […]

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Competent Person’s Report on North Sea assets for Premier Oil

Overview Premier Oil contracted RISC and DeGoyler & McNaughton to perform due diligence and each write a Competent Person’s Report (CPR) on the valuation of reserves and assessment of resources for the UK North Sea assets of German power and gas company E.On E & P UK Limited. RISC’s CPR included seven producing fields for […]

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