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Global / 2016 / Reserves Certification

Multi-billion dollar market cap E&P client

+50 geoscience and engineering experts from Sproule

Streamlined evaluation methodologies specific to client assets

NI 51-101 and SEC dual disclosure requirements

Challenge

  • Dual-listed, independent exploration and production company with regulatory requirements for disclosure on the TSX and NYSE
  • Extensive and diverse asset base posed unique technical and logistical challenges
  • Global portfolio required expertise and experience in multiple regions and jurisdictions

Solution

  • Final deliverables supported both TSX (National Instrument 51-101) and NYSE U.S. Securities Exchange Commission (SEC) disclosure
  • Unique vintaging technique used for specific asset types drove efficiency and reduced evaluation timeline and costs
  • Centrally managed, multidisciplinary evaluation approach leveraged the full breadth of Sproule’s expertise and ensured a consistent final product

Value

  • Independent evaluation is a critical component of ensuring stakeholder confidence, providing assurance for the client’s directors, partners and creditors.