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Our Expertise: Services

Asset Management

Achieve your objectives and maximize returns in a challenging and dynamic oil and gas industry with our experienced team of technical and operations professionals.

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

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

Weathering the Perfect Storm

The Canadian petroleum industry now faces COVID-19 and a complete crude price collapse. Survival in these unprecedented times will require companies to make difficult decisions that will impact the near and long-term viability of your business. This webinar explores the many hard decisions required using real-world examples to illustrate their potential impact.

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Corporate Management (Stakeholder Relations, ESG Considerations, Strategy, Admin)

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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Engineering (Reservoir Optimization, Drilling and Completions, Facilities)uction, Drilling and Completions, Facilities)

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
  • Drilling and Completion design and programs
  • Facility Planning

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Production Operations (Field Operations, Optimization, Workover Programs, Emission Management, Maintenance, ERP)

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 comprehensive safety program and all activities are conducted with safety and protecting the environment as the highest priorities.

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, and equipment optimization
  • Regular maintenance and cost control
  • Develop and maintain emergency response plans (ERP), assist with ERP tabletop and site exercises.

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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Liability Management (Quantifying, Planning, Programs, Procurement, Execution)

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 and 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 services include:
    • Assessing impact of liabilities on transactions
    • Building project specific closure programs
    • Advising on impact of changing regulations
    • Navigating and assisting with the regulatory transfer process
    • LMR / LLR modelling
    • Design of liability management program
      • Review site-specific assessments, AER classifications
      • Review funding capabilities and government programs
      • Review suspended wells and area activities to determine recompletion, sale and abandonment candidates
      • Design a liability management program to manage LMR and/or area based closure obligations
  • Implement liability management program
    • Manage abandonment programs and downhole abandonments
    • Support surface reclamation, Phase 1 and Phase 2 ESAs, remediation
    • Reporting of activities

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Geology, Geophysics and Petrophysics (Identifying and Quantifying Opportunities, Risk Assessment, Reservoir Support, Land Support)

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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Land Management (Strategy, Admin, Negotiations, Leasing, Contracts, Asset Rationalization, Transaction Support)

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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Accounting (Production, Revenue and Royalty, JV, AP/AR, Financial, Taxes)

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 team also provides accounting and financial services from accounts payable to financial reporting.

Sproule provides full cycle oil and gas accounting services, utilizing an integrated team of accountants, covering all aspects of accounting in the oil and gas industry. Sproule’s accounting staff have many years of experience in the oil and gas industry and are fully qualified to perform the accounting and financial duties required of oil and gas companies. Through the diversity of qualifications and experience of our accounting staff, we can cover all aspects of oil and gas accounting and finance.

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, accounting for joint ventures and ensuring regulatory compliance. The risk of failing to do so can severely damage a company’s reputation and its bottom line. At Sproule, we provide an integrated blend of production accounting services, regulatory compliance reporting, data analysis, reporting of revenues, royalties, and operating expenses to enable clients to maintain accurate and timely accounting records for their company’s operations.

Our CAPPA certified experts have many years of experience in all aspects of production and revenue accounting including an in-depth knowledge of gas plant allocations and Gas Cost Allowance reporting.

Our general accounting staff cover all aspects of general accounting and administration including accounts payable, accounts receivable, receivable collections, payroll administration and cash flow management and forecasting. Sproule’s staff have many years of experience in financial and management reporting and accounting for receiverships. In addition to recording of transactions and reporting thereon, we can analyze figures to assist technical staff in maximizing our client’s bottom line.

Services

  • Production, Revenue and Royalty Accounting
  • Regulatory compliance
  • Joint venture accounting
  • General and Financial Accounting
  • Payroll Management
  • Cash Management
  • Financial Reporting, Management Reporting and Analysis
  • Receivership Accounting

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HSE Management (Policies, Tracking, Contractor Compliance, Safety Meetings, Reporting)

When it comes to health, safety and the environment, there is no margin for error. A well designed HSE Management program, easily implemented and communicated is critical to success. Programs need to be standardized, details easily accessible and reporting simple and convenient. The Program needs to be embraced from the directors down to the field level. Lost time and environmental mishaps are expensive and disruptive but with appropriate procedures can generally be avoided.

 

Regulatory Management (Compliance, Inspections, Audits, Reporting, Applications)

Today, with regulatory bodies broadening their powers and changing the rules it is imperative that an operator understands and complies with the regulations in their jurisdiction to continue to have the right to hold licenses and produce. The breadth of regulatory influence including extensive rules, inspections, audits, detailed reporting and complicated applications across many aspects of the oil and gas business require a focus on Regulatory Management.

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. The maximum benefit from our service offering is achieved with focused sub 5,000 boepd assets or assets in transition 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.

Featured Insight

Fulfilling Decommissioning Obligations: An Alberta Opportunity

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Featured Case Study

Successful Oil and Gas Leasing and Development Program

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Featured Case Study

Enhancing Asset Recovery through Diligent Planning

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“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

Training Courses

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Richard Wade, P.Eng.
Managing Director, 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.

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