New Zealand Expert Witness

Overview

Our client was in a dispute with a joint venture partner over the value of an exploration permit in New Zealand. The permit contained a gas condensate discovery with uncertain commercial viability. We were engaged as an Expert Witness to provide an independent valuation for an arbitration tribunal, requiring a clear, defensible and impartial assessment.

Challenge

The technical challenge was significant. Available well data was limited, inconsistent and often poor quality. This made interpretation challenging and constrained the level of confidence placed on valuation outcomes. Additionally, while being conscious of our client’s position, we recognised our primary obligation of maintaining independence and technical integrity for the court.

As with most expert witness roles, a further complexity was the need to communicate detailed industry-specific concepts using language and formatting accessible to a non-technical audience, including legal counsel and arbitrators.

Approach

We applied our standard, structured valuation method, combining technical analysis with commercial and operational context.

This included leveraging our knowledge of the New Zealand domestic gas market (covering supply, demand and pricing) as well as statutory requirements, regulatory approvals and compliance considerations. We also assessed key commercial factors such as rig availability, mobilisation and demobilisation costs, infrastructure capacity and local capital and operating costs for upstream developments of the time.

From a technical perspective, we reviewed the well data and applied our regional experience of the basin petrophysics and fluid compositions to test the validity of reported results.

By integrating technical and commercial insights, we developed a robust foundation from which to critique the opposing expert’s position.

Outcomes

The dispute was ultimately resolved through a settlement with terms highly favourable to our client, avoiding the significant cost and uncertainty of a full arbitration process.

We understand that the breadth, clarity and independence of our analysis were key factors in achieving this outcome. The client’s legal team noted they were “delighted with the quality of our report” which they considered instrumental in challenging the opposition case.