Graves & Co. Consulting LLC (“Graves”) provides reservoir engineering, geoscience and project economic analyses to upstream and mid-stream energy companies and financial institutions. Graves delivers reliable technical studies, financial analyses and comprehensive economic evaluations.
Through its association with Graves & Co., the firms provide complete due diligence review and advisory services for clients pursuing mergers or acquisitions of assets throughout the energy spectrum in a comprehensive, effective and timely manner.
The firm is composed of seasoned personnel having extensive experience throughout the domestic and international energy industry. Their knowledge as petroleum production and reservoir engineers, geologists, geoscientists and petroleum economists, enables them to provide a wide range of technical services to our clients.
- Certification of Reserves for Regulatory & Financial Reporting
- Assessment of Proved and Non-Proved Reserves in Conventional and Un-Conventional Resource Plays
- Risk Assessment and Portfolio Management including Engineering, Geological and Economic Risk Analysis
- Fair Market Value Studies
- Geological and Depositional Studies
- Expert Witness Testimony and Litigation Support
- Preparation of Engineering Reports
- Determination of 3P Reserve Potential and Undeveloped Resource Volumes
- Field Development Studies
- Acquisition Analysis and Sales Package Preparation
- Preparation of Competent Person’s Report
- Natural Gas Storage Projects
Certification of Reserves for Regulatory & Financial Reporting
When financial requirements or securities regulations require an independent third-party evaluation of assets, Graves prepares reserve reports for private and public corporations having both domestic and international assets. Our reports are provided to banks and securities exchanges in our clients’ home countries.
Preparation of Engineering Reports
Graves prepares independent third-party engineering reports that are utilized by client’s for their short and long term planning of business operations, for meeting financial requirements of capital providers, and for reserve based lending considerations. These reports typically reflect developed and undeveloped properties, reserves and resources, and evaluations under both SEC and PRMS guidelines of reserve classifications.
Members of the technical team have prepared evaluations of coal, uranium and salt mines and reserve estimates of non-hydrocarbon gases such as carbon dioxide, nitrogen and helium.
Assessment of Proved and Non-Proved Reserves in Conventional and Un-Conventional Resource Plays
Graves conducts in-depth analysis of wells drilled, completed and/or placed on production in the active conventional and unconventional resource plays throughout the primary basins of North America. We utilize data analytics by basin and core development areas to determine the performance of the existing completions, particularly the latest generation of stimulation techniques, with type curve analysis, performance forecasts and reserve expectations to develop forecasts of individual producing horizons or company-wide projects.
Determination of 3P Reserve Potential and Undeveloped Resource Volumes
Graves provides complete evaluation studies estimating the proved, probable and/or probable reserves, and/or contingent or prospective resources of a field or project. Evaluations of either 1P, 2P or 3P reserves, or 4P resources can be prepared utilizing either deterministic or probabilistic methods.
Risk Assessment and Portfolio Management including Engineering, Geological and Economic Risk Analysis
Graves provides project risk assessment utilizing software solutions such as @Risk, Crystal Ball, Monte Carlo simulations, performing decision tree & time series analysis and preparing probabilistic analyses of estimates of reserves and resources. Project specific economic models can be developed to provide early analyses of proposed joint ventures as well as for fiscal regimes in non-traditional ventures.
Our economic risk models integrate geologic risk and engineering risks presented by drilling and completion programs, particularly those in emerging regions, to provide our clients with a full spectrum of economic considerations for review.
Field Development Studies
Graves can integrate all aspects of available technical data to estimate the reserve and/or resource potential of a study area and determine the economic parameters associated with the resulting development of the asset. Considerations include the geological and geophysical data, maximizing the primary depletion method of development, calculating the eventual impact of down-spacing in an unconventional play, estimating the possibility of a secondary recovery design and analysis, and preparing total project and incremental economic analysis.
Acquisition Analysis and/or Sales Package Presentation
Together with Graves & Co., the firm presents one of the industry’s most discipline-integrated organizations ready to assist clients in the evaluation and acquisition of oil and gas properties. Personnel within the firm have worked with Graves & Co. for over twenty years providing reservoir engineering and geological evaluations of clients’ acquisition targets, as well as assistance in the preparation of sales packages for industry. The firm can prepare cursory initial reviews, immediate detailed analysis of assets for sale, value estimates of multiple development scenarios, preparation of bids and assist in the due diligence process of all types of properties.
Assets can be evaluated for sale under either PRMS or SEC guidelines with support and documentation material organized and cataloged for distribution, either in printed form or electronically. The technical aspect of the sales process can be handled by Graves with presentations in the data room and assistance through closing and post-closing.
Fair Market Value Studies
The Graves team has experience in the preparation of fair market value studies for use in asset transfers, estate valuations, tax disputes or litigation, and these have been prepared for individuals, non-profit organizations, companies, law firms, courts and others requiring independent third-party evaluation based upon a non-encumbered transaction analysis. The studies can determine the value attributable to producing assets, non-producing properties and/or mineral interests, either associated with a domestic asset or in an international setting. These evaluations have been widely accepted and are backed by several methods of acceptable industry methods of value determination.
Competent Person’s Report
Members of the Graves team can provide a Competent Person’s Report (CPR) detailing engineering, geological and economic assessments for filing with an Offering Memorandum for either an Initial Public Offering or an updated filing on a listed stock exchange. Members of the team have prepared CPR’s for submission to the London Stock Exchange - Alternative Investment Market (AIM), the Toronto Stock Exchange, the Hong Kong Exchange and the Australian Exchange. The reports include estimates of value for acreage, reserves and/or resources to be developed, and or discovered in exploration plays, extensive geologic descriptions and analysis, and expected mean value determinations.
Geological & Depositional Studies
Graves provides geological and depositional studies in areas related to exploration programs where well geology may be sparse and/or unavailable, especially in international basins. These studies generally include petrophysical analysis, reservoir characterization and depositional models. Geophysical data and interpretation is incorporated when data is available. Geological risks are generally applied to arrive at reasonable expectations of hydrocarbon development. Several of these studies have been incorporated in Competent Person’s Reports developed on international projects by our team members.
Natural Gas Storage Projects
Team members have performed feasibility studies to determine the capability of technically and economically converting a depleted hydrocarbon reservoir to natural gas storage, and also for developing an aquifer into a storage reservoir. The overall project includes a feasibility study, geological review, engineering review of the reservoir potential, as well as surface facility demands. In addition, our team have participated in the study, design and expansion of existing depleted storage facilities.
The team has also prepared annual inventory reports of storage capacity for filing with the Federal Energy Regulatory Commission (FERC).
Expert Witness Testimony and Litigation Support
Members of our team have appeared as expert witnesses on behalf of clients in district, state and federal courts. These include regulatory filings, bankruptcy court, civil litigation and arbitration hearings. We also provide litigation support to law firms requiring either reservoir engineering or geological expertise.