Upstream: Reserve Engineering & Geosciences: 3P Reserve Report & Technical Evaluation
A privately-owned E&P limited liability corporation (“the Company”) based in Houston, Texas seeks opportunities in both oil and gas through directly negotiated transactions, marketed processes, distressed sales and organically generated ideas. Collectively, the Company has leased and bought over 300,000 net acres and has drilled 600 horizontal wells and produced/optimized thousands more in almost all major onshore basins, including the Eagle Ford, Niobrara/Codell, Woodford, Bakken, STACK/Mississippian, Uinta, Illinois and others.
Ralph E. Davis Associates (RED) professionals added value by conducting a review of all data and information associated with certain producing oil and natural gas properties in the Eagle Ford play in Texas in which the client has an ownership position. RED used the guidelines for reserve classification as defined by the SPE/WPC/AAPG/SPEE in their Petroleum Resources Management System document. The purpose of the review was to provide the client with a 3P reserve report for their Eagle Ford assets.
Additionally, RED engineers used the client’s PHDWin database and reviewed estimates of proved, probable and possible reserves, future net revenue and present worth of the Company’s producing, non-producing and undeveloped properties. Economics was prepared with price assumptions provided by the client. RED professionals provided a 3P reserve report as of the date of evaluation requested by the client as the finished work product, within the deadline requested by the client.
Established in 1924, RED is one of the most respected international independent petroleum engineering firms. RED performs petroleum engineering and geological studies, independently certifies reserve reports and prepares financial analyses and technical evaluations for use in litigation or regulatory hearings. For more information, CLICK HERE.