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Upstream Experience

 Our upstream experience is extensive, including projects for onshore and offshore developments in key basins around the world.

Example projects include:

One of the world’s largest national oil companies (NOC’s) needed help designing a new industrial city. We analyzed development and planning strategies for natural gas, petrochemicals and metals projects for the Middle Eastern country to help monetize its significant natural gas reserves and production. Developed detailed economic models, import/export forecasts, and infrastructure requirements for the projects under study. The client used the results of this work to plan future industrial development.

A mid-sized exploration and production company needed help renegotiating its crude oil sales agreement with its South American host country’s national oil company. We used a complex refinery linear programming tool to value the client’s crude based on local refinery capabilities. The client used our analysis as support for its position, and the parties negotiated a favorable settlement.

A large international energy firm wanted to develop a significant investment strategy across multiple industry segments, including upstream, pipelines, LNG, power and gas distribution. We evaluated a series of multi-billion dollar natural gas infrastructure projects in South America, including gas E&P, pipeline compression, local gas distribution, LNG liquefaction and others. The resulting financial model included a variety of financing and currency exchange algorithms that helped the client evaluate specific financing strategies. The client used the results of this work to determine which parts of the value chain and which individual projects to develop.

A large independent operator needed information about specific countries regarding drilling rig availability, supply/demand, day rates, and other market intelligence related to the exploration sectors in these countries. The IOC needed this information in advance of actually entering the market in order to keep its plans confidential. The client used this information to help it enter and expand into new countries while more aware of drilling rig supply, demand, rates and availability in local markets. This helped the IOC’s business units improve their business success and profitability as they considered entering new markets.

An oil exploration and production company in the early stages of developing its first floating production systems engaged us to help improve its understanding of the FPSO development, construction and operations market. We provided an independent perspective on the best ways to engage with FPSO leasing contractors to create robust and repeatable projects and overviewed recent industry experience regarding contracting structures, component procurement, owner behavior and other factors related to FPSO’s. The client used the results of this analysis to help it develop an FPSO development strategy and approach to help it bring its significant reserve finds to market.

A private equity fund asked us to analyze the turboexpander market, including the current installed base and replacement demand, future demand for turboexpanders in specific applications, and customer perspectives on selected turboexpander suppliers. The specific applications of interest include hydrocarbon processing, chemical processing, midstream gas processing (cryogenic separation), and LNG processing and production. We analyzed these applications as well as key suppliers in this space. Our client used the results of this analysis to help it determine whether and how to make additional private equity investments in the turboexpander segment.

An engineering firm engaged us to analyze key growth strategies as it transitions from a smaller specialty firm to a much larger entity. It asked us to identify specific potential acquisition targets in this space as well as which market segments will provide the best growth opportunities during this timeframe, with an initial focus on LNG, oil and gas development, midstream, downstream and wind energy projects. The client used the results of this study to help it focus its acquisition efforts on particular energy sectors and identify specific acquisition opportunities. This will help it identify and acquire firms faster and achieve rapid and significant growth in equity value.

A private equity firm looking to acquire a provider of engineered cryogenic equipment and services commissioned us to review the markets and commercial environment in which the Target operates. We provided a macroeconomic overview of the energy sector with a focus on LNG, natural gas, & industrial gas; overviewed the market; analyzed demand drivers; forecasted the LNG, natural gas, and industrial gas markets; and completed an analysis of customers and purchasers of the Target’s products & services. The client used this information to evaluate their decision to invest in the client and improve their understanding of the market conditions.

An international provider of equipment and oil field services to the energy industry seeking an independent third-party review of the land rig market to support business planning decisions engaged us to provide a database and report of the space. The report included data on the five-year rig construction/upgrade market forecast, data on the existing fleet by region, a breakdown of operating companies, an overview of the competitive landscape, and an outline of the purchasing drivers and rig attributes. The client used this information to assess their market positioning and evaluate their market strategy.

A large international oil company wanted to improve its R&D strategy. We developed an upstream technology R&D spending benchmarking study encompassing several major international oil companies, allowing our client to see how its technology spending in the upstream area compared to that of its IOC peers. The questionnaire addressed subsurface and surface technology spending, reviewed sources of funding for R&D projects, and analyzed technology staff demographics and specialization data across the survey participants. The client used the results of the study to justify and enhance its own R&D spending in this area.

A large North African NOC needed help developing its upstream and midstream investment strategy. We developed a strategic planning and forecasting model for the client to help executives see the interactions between increasing oilfield production and the country’s limited energy transportation and distribution infrastructure. The complex model used advanced linear programming techniques to portray existing and proposed infrastructure in field production, multiple product pipelines, internal demand, and export capabilities for natural gas, crude oil, condensate, and natural gas liquids (NGL’s). The client used the model to plan and prioritize future capital investments.