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Oil On the Rise Means Due Diligence Is Wise

As the price of crude oil continues to slowly recover, topping over $60 per barrel over the last 6 months, increased activity in the Eagle Ford Shale and Austin Chalk is now more noticeable.  With increasing oil prices, opportunities to buy in to established fields are being evaluated and pursued by Oil & Gas exploration companies, operating companies, and investment firms.  A thorough Due Diligence review is a proactive strategy to assess early the assets in the evaluation stage when making a go/no go determination, and to understand future environmental risks.

There are many factors that impact the evaluation of purchased property in this field.  A quick assessment can be completed to determine current conditions of equipment, operational history, compliance with regulatory guidelines, impact to natural resources, and tracking of environmental liabilities to name a few.  The completion of a Due Diligence review can identify the specific risks associated with an asset, and help identify a potential bad investment.   

Flexibility, timing, and risk tolerance are critical factors in evaluating property purchases.   From Phase I ESAs for Rural Properties (ASTM E2247-16) to tailored programs for companies with experience operating oil field production facilities, W&M will help to scope and implement a flexible and efficient evaluation to meet your time critical needs.  W&M personnel with experience in field reviews collect real time data that is uploaded daily to monitor progress and quickly identify critical observations during the site review process.  The real time data also contributes to report compilation by the creation of inventories, individual site summaries, and summary mapping.  At W&M, we work with our clients to solve critical issues and get projects done.  If you have questions or would like more information please contact Gary Tiedeman.

 

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