With this foundation of experience in
reservoir and plant operations, the firm initially provided consulting
services, primarily in the United States, but as additional
professionals joined the organization, the scope of services expanded
internationally. Investigations have been conducted in all major
petroleum provinces of the United States and in numerous foreign
countries as well.
Under appropriate circumstances,
the firm is prepared to review the estimates of others and comment upon
the reasonableness of those estimates. When requested to do such
reviews, the firm may also comment on (a) the adequacy of the data
employed, (b) the appropriateness of the techniques and procedures
employed, and (c) the effectiveness of the programs set up for
surveillance, data collection, optimization of operations, or
documentation of estimates.
The firm commonly employs
client-instructed forecasts of product prices, inflation rates, or
other assumed future conditions when requested to do so in preparing
cash flow projections. In addition, the firm performs various
client-instructed sensitivity analyses. If client instructions
regarding product prices, inflation rates, future conditions, or
assumptions are employed in the firm’s analyses, those instructions
will be clearly disclosed in its evaluation reports.
preserve independence, the firm does not accept as payment for services
any contingent fees or other compensation that may be considered to be
conditional upon the outcome of studies performed by the firm. All
revenue is derived from payment for services and from reimbursement for
expenses incurred on behalf of clients. The firm avoids any activity
that may create a conflict of interest with clients.