Global oil and gas service company AGR announced the launch of a new product, AGR TRACS Evaluations, encompassing its acclaimed reserves and resource evaluation services.
The new product sits within AGR’s Reservoir Management product portfolio and includes services such as Competent Person’s Reporting (CPR), reserves reports and other work related to Acquisition and Divestment activity.
As well as large and small oil companies, these services are aimed at a diverse range of clients including financial institutions, brokers and investors. The majority of studies are carried out by AGR’s Reservoir Management team, many of whom moved to the company from the highly respected TRACS International Consultancy when the two joined forces in 2008. The team has been delivering acknowledged and industry leading evaluation reports since the early 1990s, when TRACS was established.
Ian Burdis, AGR’s EVP UK and West Africa, said: “Launching this new product is a great opportunity for AGR to showcase the outstanding in-house expertise we have within our evaluation and CPR portfolio.
“The team here is widely recognised and trusted not only among oil companies but also on the financial market. Establishing AGR TRACS Evaluations reaffirms the continuing strength of the TRACS legacy within AGR.”
In the field of Acquisitions and Divestments AGR combines subsurface expertise, reserves auditing, commercial evaluation and business skills to evaluate an asset or portfolio. For Acquisitions the company provides an evaluation team which can be supplemented by drilling and facilities engineers. AGR has the expertise to review fiscal models to evaluate post-tax economic parameters for most countries and identify key uncertainties and risks to assess the full range of value.
AGR has been performing reserves audits for over a decade on behalf of national and international oil companies, government organisations and banks. These have been used to support listings on stock exchanges, to raise private equity funds, to support Acquisition and Divestment and to review operator performance.
The company uses its teams of subsurface experts to support reserve estimates. The multi-disciplinary approach ensures that all technical and commercial aspects of the reserves and resources are fully considered within the audit and conveyed to the client.
AGR has supported operators and regulatory bodies in reviewing and designing reserves reporting guidelines and processes.