Due diligence is an integral part of the oil and gas industry covering many disciplines. Recent industry events have highlighted that the non-operating partner is as responsible as the operator in the eyes of the regulatory framework. It is therefore essential that operators equip themselves with the tools and specialist knowledge to protect their interests.
The subject areas requiring due diligence are wide ranging and cover topics such as:
Good Operating Practice
FWMs WIP® Track framework includes a review of well design documents to confirm well integrity is being adequately addressed throughout the design and operational phases. Ongoing support is provided through the operational phase by specialist well engineers.
For smaller operators without in-house wells expertise or when subject areas are outwith the non-operating partner's core skills, assistance is provided to verify and validate the proposed well plan before proceeding. Support is ongoing throughout operations providing assurance that adequate technical standards are maintained.
Well Cost Validation
In a world of tightening budgets and increased financial discipline, it is essential to have a detailed understanding of expected well costs. Utilising Fraser Well Management's WellCET™ software enables a thorough evaluation of proposed well costs.
The non-prescriptive nature of the UK regulatory regime demands in-depth knowledge to avoid inefficiencies while ensuring the requirements are met.
Existing Asset Acquisition
When acquiring existing assets it is paramount that all parties within the operator partnership appreciate the technical and commercial liabilities in order to make an informed decision.
Fraser Well Management offers a comprehensive due diligence service, utilising its trained and competent engineers supported by its operational pedigree.