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Asset Management

We can help you maximize returns in a challenging and dynamic oil and gas industry with our experienced team of technical and operations professionals.

Whether your organization requires corporate guidance and strategic advice, or you want to optimize existing operations for effective end of life asset retirement management, our unique model delivers industry-leading results and custom, cost-effective solutions for your challenging oil and gas projects. E&P companies, investors, lenders, government agencies, legal and accounting firms trust us to deliver value-added service and top tier performance.

Sproule Acquires Niven Fischer

Sproule is pleased to announce the acquisition of Niven Fischer as of April 2017. Niven Fischer is a Calgary-based oil & gas consulting firm, providing technical, advisory and administrative support to the oil & gas industry since 1998.

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20+ years’ experience per expert
14,000+ managed CND Boepd
100% independent
Scalable to meet the needs of your operations
 

Corporate Management

Seasoned professionals, many who have held senior leadership positions for significant E&P companies or founded startups, provide business strategy insights, strategic guidance, corporate governance, and leadership. These project “CEOs” have the support of a dedicated team of experts ready to assume the day-to-day management of the field operations, engineering, land, and accounting functions which can immediately reduce the monthly G&A for the client. We have expertise in due diligence and evaluation of oil and gas assets and can support corporate mergers, property acquisitions, divestments, insolvency workouts, corporate restructuring, and financing. From strategic guidance, business plan implementation, operations, land management, to end-of-life operations and reporting, our team has customized solutions to support your business. Our scalable services can help you source or provide staff on an as-needed basis and can be done in whole, singularly or any combination of our services listed below. 

Seasoned professionals, many who have held senior leadership positions for significant E&P companies or founded startups, provide business strategy insights, strategic guidance, corporate governance, and leadership. These project “CEOs” have the support of a dedicated team of experts ready to assume the day-to-day management of the field operations, engineering, land, and accounting functions which can immediately reduce the monthly G&A for the client. We have expertise in due diligence and evaluation of oil and gas assets and can support corporate mergers, property acquisitions, divestments, insolvency workouts, corporate restructuring, and financing. From strategic guidance, business plan implementation, operations, land management, to end-of-life operations and reporting, our team has customized solutions to support your business. Our scalable services can help you source or provide staff on an as-needed basis and can be done in whole, singularly or any combination of our services listed below. 

Services 

  • Strategic guidance
  • Business strategy 
  • End of Life asset retirement obligation (ARO) optimization
  • Acquisitions and divestitures
  • Due diligence
  • Regulatory applications
  • Budgeting and reporting
  • Financings and recapitalizations 
  • Market identification 
  • Staffing support
  • Administration, legal, insurance, HSE, regulatory

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Contact an expert today to discuss how Sproule can help you solve some of the most challenging issues facing your business today.

Chris Gossen, Project Manager, Asset Management
Chris Gossen,
Project Manager, Asset Management
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Engineering

Sproule provides technical support and evaluation services to operating companies in support of engineering projects and exploitation, optimization and exploration projects. Our business and technical experts provide a multi-disciplinary service based on client requirements. 

Sproule provides technical support and evaluation services to operating companies in support of engineering projects and exploitation, optimization and exploration projects. Our business and technical experts provide a multi-disciplinary service based on client requirements. 

Services  

  • Development programs 
  • Economic assessments
  • Reservoir performance
  • Downspacing, waterflood, completion techniques
  • Capital cost reductions

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Contact an expert today to discuss how Sproule can help you solve some of the most challenging issues facing your business today.

Brian Carnahan, Senior Vice President, Asset Operations
Brian Carnahan,
Senior Vice President, Asset Operations
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Production Operations

Sproule has a multi-disciplinary team with field operations experience covering the broad landscape of the Western Canadian Sedimentary Basin (WCSB) from the remote, winter access only areas of the Horn River in British Columbia, across Alberta and east to light oil properties in SE Saskatchewan. We have a proven track record of identifying and executing on value-add opportunities to increase production and reduce costs.

Sproule has a multi-disciplinary team with field operations experience covering the broad landscape of the Western Canadian Sedimentary Basin (WCSB) from the remote, winter access only areas of the Horn River in British Columbia, across Alberta and east to light oil properties in SE Saskatchewan. We have a proven track record of identifying and executing on value-add opportunities to increase production and reduce costs.

Services

  • Production optimization, maintenance, and reporting
  • Operating cost audits and assessment of potential reductions
  • Operational due diligence:
    • Evaluate all components of the operation associated with acquisition or divestitures  
    • Site assessments to evaluate day-to-day operational and safety risks and the ability to deliver on marketing, transport, and other critical issues
    • Asset integrity reviews including benchmarking performance, operations, and maintenance, and confirming compliance with industry standards
    • Assess future decommissioning obligations, costs and risk
  • Recompletions, workovers, drilling, completions, facilities, abandonments, remediation and reclamation
  • Regular maintenance and cost control

Develop and maintain emergency response plans. Sproule has a comprehensive safety program and all activities are conducted with safety and protecting the environment as the highest priorities.

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Gerry May, Senior Manager, Production and Operations
Gerry May,
Senior Manager, Production and Operations
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Liability Management

With the maturity of the basin, increasing environmental concerns, increasing costs and tougher regulations, all operating companies need to be aware of their abandonment and reclamation costs and regulatory requirements to continue to operate. Sproule provides liability management services to oil and gas operating companies to help you maximize company value by ensuring your company proactively manages its liabilities and maintains social land regulatory licenses to operate. We also support acquisitions and divestitures and can assess the impact of the integration of new assets to a company’s overall liability rating.

With the maturity of the basin, increasing environmental concerns, increasing costs and tougher regulations, all operating companies need to be aware of their abandonment and reclamation costs and regulatory requirements to continue to operate. Sproule provides liability management services to oil and gas operating companies to help you maximize company value by ensuring your company proactively manages its liabilities and maintains social land regulatory licenses to operate. We also support acquisitions and divestitures and can assess the impact of the integration of new assets to a company’s overall liability rating. Our strengths include:

  • Liability Management Rating (LMR) Advisory including discretionary waiver requests
  • Adherence to regulatory requirements

As a standard practice, we adopt a four-step process for managing liabilities in Western Canada.

Licensee Liability Rating Checkup

  • Forecast your Liability Management Ratio ("LMR") and deposit requirements forward two years based on public information
  • Detailed LLR Assessment
  • Forecast your LMR and deposit requirements forward two years based on your company's development and acquisition plans

Design Liability Management Program

  • Review site-specific assessments, AER classifications
  • Review suspended wells and area activities to determine recompletion, sale and abandonment candidates
  • Design a liability management program to manage LMR

Implement Liability Management Program

  • Manage abandonment programs and downhole abandonment
  • Support surface reclamation, phase 1 and phase 2 assessments

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Brian Carnahan, Senior Vice President, Asset Operations
Brian Carnahan,
Senior Vice President, Asset Operations
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Geology, Geophysics and Petrophysics

At Sproule, we have expertise in the evaluation of the reservoir characteristics of conventional and unconventional oil and gas reservoirs across the Western Canadian Sedimentary Basin. Our experts draw on years of experience and provide sound business strategy and commercial insights. We have deep regional experience and current direct knowledge of geology, petrophysics and seismic attributes of most oil and gas producing horizons.

At Sproule, we have expertise in the evaluation of the reservoir characteristics of conventional and unconventional oil and gas reservoirs across the Western Canadian Sedimentary Basin. Our experts draw on years of experience and provide sound business strategy and commercial insights. We have deep regional experience and current direct knowledge of geology, petrophysics and seismic attributes of most oil and gas producing horizons.

Our skill sets include:  

  • Prospect evaluations
  • Development programs
  • Reservoir modelling
  • Waterflood applications and enhancement
  • Continuations
  • Disposal applications

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Contact an expert today to discuss how Sproule can help you solve some of the most challenging issues facing your business today.

Wayne Pridham, Project Manager, Asset Management
Wayne Pridham,
Project Manager, Asset Management
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Land Management

At Sproule, our expert team provides oil & gas operators with the opportunity to have their lands actively managed rather than simply administered. Our full complement of the experienced surface, mineral and contract administrators, A&D, and JV negotiators can assist companies in every aspect of the land function. Whether you require minor day to day maintenance of your land assets; strategic management and agreement negotiation/preparation; or a full cycle A&D program from initial due diligence to post-close administration, we can do it all.

At Sproule, our expert team provides oil & gas operators with the opportunity to have their lands actively managed rather than simply administered. Our full complement of the experienced surface, mineral and contract administrators, A&D, and JV negotiators can assist companies in every aspect of the land function. Whether you require minor day to day maintenance of your land assets; strategic management and agreement negotiation/preparation; or a full cycle A&D program from initial due diligence to post-close administration, we can do it all.

We have the expertise to provide our clients:

  • Advice on all aspects of land management strategy
  • Land administration & electronic record maintenance
  • Negotiation and drafting of all land related agreements including farmouts, poolings, royalty, A&D, third party surface, and joint venture agreements
  • Freehold leasing & interpretation, title review and curative work
  • Manage correspondence to partners, regulatory bodies and government agencies
  • Full cycle asset rationalization including evaluation, offer to purchase, due diligence, conveyance document preparation, purchase & sale agreement, and post-close records set up
  • Land project management for corporate mergers, A&D, corporate restructuring and insolvencies

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Contact an expert today to discuss how Sproule can help you solve some of the most challenging issues facing your business today.

Cam Yamada, Senior Manager, Land
Cam Yamada,
Senior Manager, Land
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Production Accounting

The oil and gas business is complex and requires extensive knowledge of translating production volumes into values that make financial sense. At Sproule, our experts understand how critical this function is to your organization from an operations management, strategy and reporting perspective. Trust our experts to be the juncture where operational data gets translated into financial bookings and trusted financial information—in a timely, cost-effective and scalable manner.

The oil and gas business is complex and requires extensive knowledge of translating production volumes into values that make financial sense. At Sproule, our experts understand how critical this function is to your organization from an operations management, strategy and reporting perspective. Trust our experts to be the juncture where operational data gets translated into financial bookings and trusted financial information—in a timely, cost-effective and scalable manner.

Production Accounting

Oil and gas companies must be constantly vigilant about maintaining the complex obligations they have on land-related assets, such as royalty management, mineral rights, and their respective lease agreements, while simultaneously ensuring regulatory compliance. The risk of failing to do so can severely damage a company’s reputation and bottom line. At Sproule, we provide an integrated blend of production accounting services; combining accounting, regulatory, data analysis, and reporting of revenues and royalties to enable clients to maintain accurate and timely production accounting records for their company. Our CAPPA certified experts have on average >15 years’ experience, including in-depth knowledge of gas plant allocation.

Our production accountants receive information from the field, land administrators, joint venture analysts, marketing and financial departments to perform monthly production accounting. The team works with volumes of oil, gas, and water produced from the wells, inventory at facilities and distribution from the facility including revenue, the division of ownership and royalties. Using their extensive experience, our accountants accurately report and identify potential measurement or allocation issues that may impact the revenue of our clients, government agencies or joint venture partners. On receivership projects, our team members quickly adapt and find creative strategies for procuring data where history may not be available or apparent.

Services

  • Royalty reconciliation; reconcile royalties paid with royalties expected
  • Royalty management; the team is knowledgeable and up to date on the regulatory requirements for all the provinces in terms of royalties for crown and freehold  
  • Accurate volume reporting to the governmental agencies across Western Canada 
  • Updates to land and well schedules with new wells and statuses
  • Quality control: ensure information and subsequently revenue accuracy from the wellhead to plant sales gate to mitigate lost revenue or overpayment. Our team has the experience and ability to rapidly discover any errors and identify the source to correct it 
  • Reporting and statistics 
  • Annual gas cost allowance filing
  • Equalizations and throughput calculations

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Contact an expert today to discuss how Sproule can help you solve some of the most challenging issues facing your business today.

Lisa Plintz, Manager, Royalty and Production Accounting
Lisa Plintz,
Manager, Royalty and Production Accounting
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Financial Accounting

Our Financial Accounting Services comprise a professional team providing accounting and financial services from accounts payable to financial reporting. Our team has a variety of skills including technical knowledge and experience, complex transaction accounting, project management capabilities, system conversions, and amalgamations. Our service also includes statutory financial accounting, government return compilation and filing, cash management, preparation of financial statements and annual reports, and accounting supervision and controls.

Our Financial Accounting Services comprise a professional team providing accounting and financial services from accounts payable to financial reporting. Our team has a variety of skills including technical knowledge and experience, complex transaction accounting, project management capabilities, system conversions, and amalgamations. Our service also includes statutory financial accounting, government return compilation and filing, cash management, preparation of financial statements and annual reports, and accounting supervision and controls.

Outsourcing the financial accounting function can be done in whole or in part and is carried out with precisely the right combination of human resources and technology to serve you most effectively.

From full cycle oil & gas accounting, including monthly management reporting to quarterly and annual financial statements to tax planning and compliance, our seasoned team of professional accountants provide dependable, accurate and timely expertise to help you manage your company.

Services

  • Cash management
    • Cash flow forecasting
    • Bank deposits, and accounts receivable analysis and collection
    • Payment processes, including accounts payable input, cheque preparation
    • Bank reconciliations
    • Receivership accounting
  • Payroll management
  • Joint venture accounting and audit
  • Master file maintenance 
    • Accounting system conversions
    • Set up of new entities on oil & gas software 
    • Master file maintenance for cost centers, divisions of interest, Authorization for Expenditures (AFEs)
  • Capital budget reporting and analysis
  • Financial reporting and month end processes
    • Financial statements and notes using either IFRS or ASPE
    • Manage the audit process with external auditors and government
    • Manage the internal audit process
    • Tax planning 
    • Acquisition and divestiture accounting
    • Management and analysis preparation

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Contact an expert today to discuss how Sproule can help you solve some of the most challenging issues facing your business today.

Kumar Mendis, Senior Manager, Accounting
Kumar Mendis,
Senior Manager, Accounting
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Lower G&A and operating costs to maximize the value of your assets

Trust your oil and gas assets to a team of experts who will ensure the maximum value of your assets are realized. We have a proven track record for delivering top quartile G&A and operating cost performance for assets under management. Our service offering applies to small entities and focused assets and includes all aspects of oil and gas operations and management.

Scalable solutions designed for your business

No matter what level of support you require, we have an experienced team of energy professionals that can provide support. Clients can rely on Sproule for corporate management on critical projects, strategic restructuring or acquisitions. We also have the boots on the ground and expertise in evaluating all stages of the operation including field site assessments to help you determine precisely the condition, commercial, technical, and environmental risks involved. There is no “one-size-fits-all,” we tailor our services to your unique requirements while using a proven model to help you reduce costs and optimize upside.

Shedding Liabilities in a New Energy Paradigm

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Successful Oil and Gas Leasing and Development Program

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Enhancing Asset Recovery through Diligent Planning

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Featured Testimonial

“Sproule has consistently added value to our projects through their depth of knowledge, commitment, insights and integrity. We consider Sproule a trusted and respected technical partner and our go-to for many oil and gas mandates.”

Deals Leader
Major Global Audit Firm

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Randy Green, P.Geoph., <br>Senior Vice President, Asset Management
Randy Green, P.Geoph.,
Senior Vice President, Asset Management

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Contact an expert today to discuss how Sproule can help you solve some of the most challenging issues facing your business today.