UPSTREAM OIL & GAS CONSULTING

Expert Advice

Subsurface Experts

For more than 15 years, we have leveraged our industry expertise to help companies unlock value in their Upstream oil and gas portfolios via unsurpassed technical excellence combined with innovative software solutions. We are subsurface experts with a strong track record delivering traditional engineering consultancy to a high-level across diverse projects within the Oil & Gas industry. From in-depth data analysis to integrated, multi-year field development support.

We always strive to help our clients see through the technical details to a clear and robust value proposition and so, in addition, we offer a range of commercially-orientated services to oil and gas companies; such as: transaction support and independent reporting for stock markets or financial institutions.

National Benchmarking Analysis

Strategic Portfolio Review. Involving a National and Global Assets benchmarking study, deploying bMark proven predictive analytics and global data insights, we will highlight recovery potential, underperforming assets and provide the route to attain that.


Due Diligence and Data Room Support

Evaluation of new acquisitions and assets value, providing an examination of geological metrics and recovery factor review.


Competent Person Report (CPR) & Expert Opinion

Independent view on Reserves resources. We have been a trusted provider of expert reports globally.


Integrated Well & Field Development Planning

Reduce risks and maximise returns. Our Field Development Planning services transforms the manual process of collating field development data to streamline the process, make it automatically auditable and provides a wide understanding of FID’s feasability. Improve Field Planning and operation optimisation with Belltree services and digital solutions. Support in subsurface flow assurance.


Mature Field Rehabilitation

LTRO provides a unique field analysis technique based on fundamental reservoir management principles: Voidage, Volumetrics, and Mapping. The goal of LTRO is to focus on “developing the field” rather than “developing the model.”


We Are

Data Driven

At Belltree we provide detailed technical insights to our clients utilising the global experience of our team, augmented and calibrated by the unrivalled power of bMark™, our benchmarking and production analytics software solution. Impacts of human error and gaps in individual project datasets are dramatically reduced by leveraging bMark™ global datasets. bMark™ benchmarks provide a data-driven mechanism to evaluate key oil & gas reserves & development metrics avoiding the negative human impacts of anchoring and cognitive bias.

Belltree leverages the power of bMark™, our propietary software, to underpin studies we undertake for oil and gas operators and regulators worldwide: National Benchmarking Analysis, Due Diligence and Data Room Support, Competent Person Report (CPR) & Expert Opinion and Integrated Well & Field Development Planning.

We Are

Driving Change

By embracing innovation we believe that we can help build a better upstream oil and gas sector which meets global energy requirements more efficiently and with higher returns to energy companies and societies.

 

That’s why we built bMark™ to help bring the data revolution to energy professionals by augmenting industry expertise, improving data governance, enhancing technical insights and reducing study costs.

 

bMark™ intuitive user interface allows independent assessments to be made in minutes… Some large Operators have had such tools at their disposal for several years. bMark™ now provides this critical capability to the Industry at large.

David Masson, Shell VP & Group Chief Reservoir Engineer 2006 - 20

    Please note - we do not hire via our contact forms. Visit our recruitment page for any available positions.

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    Technical assurance given at Final Investment Decision

    Greenfield oil development offshore Mexico; 1500MMstb in place

    • bMark™ helped identify twelve (12) key producing analogues, in the Gulf of Mexico.
    • Data analytics & benchmarking performed on the reservoir data. Production profiles, recovery factor forecasts & development plan supporting the FID case
    • Insights supported the FID mid-case plan & forecasts, whilst also provided guidance on areas for further modelling & sensitivity analysis.

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    Unique Due Diligence Insights

    bMark™ global data and benchmarks were teamed with Belltree’s expertise in technical due diligence to support a corporate takeover of assets in Norway.

    Background:
    Belltree was the lead technical expertise provider integrated with a  corporate due diligence team from an international name-brand firm. We represented a buyer considering a corporate takeover involving 39 assets offshore Norway. The seller’s mixed portfolio contained mature producing fields, discoveries under development and exploration prospects. All fields (including 20+ years of data for mature assets) were to be assessed in less than 5 weeks.

    Project Highlights:
    Belltree quality-checked the Seller’s technical assumptions using the bMark™ database, leveraging its high-density Norwegian field dataset alongside relevant international analogues. Belltree identified systematic “optimism” in the Seller’s predicting of recovery factor for yet-to-be-developed fields. Suitable discount factors were generated with bMark™ benchmarks and Seller production profiles downgraded for the fair market value calculation.

    Other deliverables:

    • Asset Due Diligence
    • Exploration & Facility risk assessments
    • Capital Expenditure/ OPEX forecast validations
    • Independent reserves assessment

    Result:

    • Project delivered resulting in successful corporate acquisition.
    • Sale price negotiations favouring our client, based on bMark™ benchmarking.

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    LTRO Study for a Mature Russian Oil Field

    Overview, Client Challenge

    The client was operator of a large tight oil field in Western Siberia which had been in production for over 15 years. Recovery from the field had been modest to date compared to the in-place volumes and the client planned a significant drilling program to boost reserves. To support this endeavor the client built a dynamic model of the field but was unable to achieve a history match. The client requested that Belltree review the field to understand why the modelling workflow was failing and to provide an independent viewpoint of field potential.

    Solution by Belltree

    Belltree reviewed the client’s current model and approach and quickly concluded that application of its LTRO workflow would be appropriate to uncover the reasons behind the failure to achieve a history match. The LTRO process was completed in six months and with the significant insights gained Belltree was able to take over development of the dynamic model from the client’s team and achieve a history match within 2 months.

    Achievements

    By taking a step back and considering the totality of information available for the field in a systematic manner the Belltree team were able to identify a major thief zone in the field that was not present in the client’s field model. The LTRO process also identified significant upside potential via a reorientation of the existing waterflood and via infill drilling targets. The project targets identified via LTRO were subsequently supported by the dynamic model developed by Belltree. This work was used to directly support the decision to conduct a horizontal well campaign which added significant reserves to the field.

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    Testimony

    bMark™ intuitive user interface allows independent assessments to be made in minutes… Some large Operators have had such tools at their disposal for several years. bMark™ now provides this critical capability to the Industry at large​.

    David Masson, Shell VP & Group Chief Reservoir Engineer 2006 - 20

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      Please note - we do not hire via our contact forms. Visit our recruitment page for any available positions.

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        Please note - we do not hire via our contact forms. Visit our recruitment page for any available positions.

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