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Transformative Acquisition Enables New Market Entry

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Europe / 2017 / Strategic Advisory

1.3 Bcf in place

$1.4B investment decision

Supported new market entry for portfolio diversification

Delivered complex offshore analysis

Challenge

  • The complex offshore reservoir was a first-of-a-kind opportunity for the investment firm to enter into a new market, providing a working interest in the project but also increasing investment risk
  • With only a small in-house technical team to conduct the analysis, the client needed external geoscience and engineering expertise to determine their bid range based on risk and upside potential, as this was a significant investment that would secure entry into a new market
  • The complex investment opportunity required a multi-disciplinary evaluation approach, relying on integrated geological, geophysical, simulation and engineering expertise

Solution

  • Sproule provided a multi-disciplinary team to determine the range of technical risk across the geoscience and engineering disciplines. The five senior professionals averaged more than 20 years of industry experience
  • A phased approach allowed the client to allocate budget to each milestone versus an all-in project – helping them understand the process better and make critical go / no-go decisions along the project lifecycle   
  • Sproule stress-tested multiple development field scenarios to support the bid process, which required visiting the physical data room overseas as part of the project

Value

  • The client successfully bid on the project and secured the opportunity, diversifying their portfolio
  • The firm’s investment decision was supported by deep expertise in geology, geophysics, simulation, geomodelling and engineering without having to build an in-house team