Sproule’s expertise in the upstream oil and gas sector is part of the firm’s DNA, supporting the development of new frontiers shaping the global oil and gas market at every juncture throughout its history. From exploring and mapping the Canadian Arctic to supporting North Sea development, CBM developments in China, unconventional resource plays in North America to the potential for EOR. Sproule’s integrated approach to understanding upstream assets straddles technical, operational and commercial drivers, helping clients optimize value by identifying key drivers, upside potential and risk.
Sproule remains a key partner for clients pursuing exploration projects, built on a strong bench of professionals across all subsurface disciplines. Sproule’s professionals have supported critical aspects of exploration from campaigns to evaluating the size of the prize, the value of assets or marketing farm-out opportunities.
Unconventional Oil & Gas
Sproule has deep experience with unconventional oil and gas assets globally, straddling shale and tight plays, heavy oil, oil sands and enhanced oil recovery schemes. Sproule has been involved with shale plays in North America from its early beginnings and has evaluated assets across all major resource plays in North America and other emerging markets globally. Our unconventional team has also supported the development and evaluation of key heavy oil assets globally. This has extended across reserves certification of unconventional assets, supply studies, technical and commercial due diligence, asset management and field development planning.
Enhanced Oil Recovery (EOR)
With operators increasingly focused on maximizing returns from existing assets, EOR offers a key strategic solution. EOR also has the potential to work in conjunction with CCU solutions in a lower carbon economy. Sproule has mapped the EOR potential in key markets and has developed proprietary frameworks for screening EOR candidates. Sproule also has deep expertise with the development of heavy oil projects that are natural candidates for EOR and has worked extensively with clients globally to devise appropriate EOR field development strategies.
Energy infrastructure remains an important asset class to support the development of a constantly evolving energy sector. Sproule has extensive experience supporting market players assessing the viability and value of midstream assets, such as pipelines, gas processing plants and LNG facilities. This is often supported by an understanding of underlying assets, which, coupled with counterparty risk more broadly, provide a complete view of specific assets.
Sproule’s commercial perspectives of energy markets and commodity pricing are informed by actively tracking downstream activities, fuel mix and crack spreads. The demand side of the market is critical to understanding the behaviour of market participants, commodity pricing and value drivers across the value chain.
Sproule’s M&A advisory group has a long-standing practice of supporting clients with transaction advisory across the energy value chain from oil and gas assets to energy infrastructure and power. Essential skills include marketing assets, supporting data rooms, negotiating key transaction terms, providing technical and commercial due diligence and modelling cash flows and valuations. The team helps clients optimize transaction structures and outcomes by leveraging an experienced commercial team backed by technical and operational professionals.