Independent Asset Evaluation

Industry Practice Areas:

• Asset Evaluation
• Prospect Evaluation
• Strategic Area Evaluations
• Due Diligence
• Reserves Assessment
• Competent Persons Reports

Getting high quality technical and commercial support at the right time for Independent
Petroleum Asset Evaluations can make the difference between success or failure

Introduction
Helix RDS is a petroleum consultancy providing technical and commercial advice to
customers across the world from our offices in Aberdeen, London, Kuala Lumpur
and Perth WA. Since the formation of the business in 1994, we have been involved
in a large range of Asset Evaluations to support our client requirements including:

• Strategic asset acquisitions or divestments,

• Exploration farm ins and farm outs
• Corporate acquisitions and sales
• Unitisation and equity defence
• Raising equity / debt finance through IPO’s, right issues or other sales

There are three key themes which are critical to successful Asset Evaluation
service provision:

Technically
Strong
Evaluation

Clear
Conformance Understanding
to Deadlines of Range and
Risks
Technically Strong Evaluation Relevant Service Experience
Helix RDS provides experienced and technically strong teams Our subsurface team have delivered a wide range of
with significant asset evaluation track record. They deploy a evaluation solutions for our clients all over the world.
consistent and clear business process relating to the estimation Helix RDS is continuously active in supporting the
of reserves according the selected appropriate standards business of asset acquisitions and divestments. Specific
documentation. Their work is backed up by a Helix RDS service areas include:
Reserves Review Board.
Asset Evaluation
Conformance to Project Deadlines Over the past five years Helix RDS have participated
in over 200 data rooms on behalf of clients looking to
Asset Acquisition frequently requires decision making within tight
make strategic asset acquisitions. We have
deadlines. As such, the right technical back up must be in place
developed a specific evaluation process to speed up
at the right time. Our ISO9001 business and project
accurate assessment, evaluation and reporting.
management system is there to help ensure that we deliver the
results required within the timeframe specified.
Prospect Evaluation
Our wide experience in a range of environments
Clear Assessment of the Range of possible enables us to provide effective support to farm-in
values and risks assessments on specific licenses, prospects or
prospect inventories. These can be risked and ranked
A clearly articulated uncertainty range for reserves is as in comparison with other opportunities in the client
important as a robust best technical case. Reserve ranges can portfolio.
be developed through either:

• A probablistic workflow involving assigned probability

distributions to key input parameters
• A scenario based workflow exploiting multiple deterministic
runs where input parameters are closely matched to the
requirements of the adopted standards.
In practice, although exploration assets are often appropriately
assessed using probabilistic methods, development and mature
assets often require a combination of these approaches to
capture and quantify the appropriate range of reserves.
PRODUCTION
Commercial
Discovered Petroleum In Place
Area Strategic Evaluations
Helix RDS have worked with major and independent
oil companies to review a region to establish a high
level strategy for entry, exit or development. Such
regional assessments have included unexplored
areas to post mature field rehabilitation projects.
Due Diligence
Technical due diligence of an asset identified for
acquisition is also a key core competency for Helix
RDS. The remit can be specific such as reservoir
evaluation, hydrocarbons in place or well integrity.
Project Status
On other occasions the remit is broader and will

include a full field evaluation, reserves assessment or

Lower Risk

RESERVES On Production
Proved field development review.
Proved Proved + Under Development
+ Probable
Total Petroleum In Place

Probable +
Possible Planned for development Reserves Assessment
Helix RDS are recognized by the FSC (UK financial
PROJECT MATURITY

CONTINGENT RESOURCES Development Pending

services committee) to make independent reserve
Sub-Commercial

Development on Hold
assessments. Assessments can and have been
Low Mid High carried out under reserves classification guidelines of
Development Not Viable several countries, including the SEC (United States),
NI51-101 (Canada) and the SPE/WGC (much of the
UNRECOVERABLE rest of the World). We carry these out as an
DISCOVERY independent assessment and deliver a competent
Higher Risk

PROSPECTIVE RESOURCES Prospect persons report on the findings.

Undiscovered
Petroleum In

Lead
Place

Low Mid High

Play

UNRECOVERABLE

RANGE OF UNCERTAINTY