Asset Transactions

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GLJ provides highly regarded opinions and advice regarding reserves and resource potential and value in support of acquisitions, divestitures and joint ventures. Services in this area are coordinated by a Vice President or Manager and are tailored to meet the specific needs of each project.

Our approach commonly involves a multi-staged process and can range from a quick look audit opinion of reserves estimates prepared by others, to fully detailed evaluations of oil and gas assets. GLJ can provide reserves databases in both ValNav and Mosaic formats for inclusion in data rooms. GLJ will attend data rooms to hold discussions with the representatives of the potential purchaser, and provide an integrated team of geophysicists, geologists and engineers as required to complete the project in an efficient and cost effective manner.

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Acquisitions

Acquisitions are often made as part of a company's growth strategy whereby it is more beneficial to acquire existing assets compared to exploring and developing on its own.

GLJ’s approach to reserves evaluations for acquisitions is generally multi-staged with an initial high level review to identify the important assets and potential risks with ongoing production operations and development plans. The high level review may be followed by a detailed evaluation of the key properties which may lead to a detailed evaluation of the complete suite of assets compliant with securities reporting requirements if the client elects to acquire the assets.

Divestitures

Divestitures may result from a management decision to sell an asset because it is not part of its core operations or future development strategy.

GLJ’s approach to reserves evaluations for divestments is to provide a detailed evaluation of the complete suite of oil and gas assets considering all development potential. The scope of work may include an evaluation of proved, probable and possible reserves plus contingent and prospective resources.

Joint Ventures

In a typical joint venture, two or more businesses agree to contribute capital and resources for a common project. GLJ has been involved with several major joint venture projects including the following:

  • North Montney Joint Venture
  • Cutbank Ridge Partnership
  • Deep Basin Partnership

These partnerships were formed to exploit tight oil and gas resource plays in the Western Canadian Sedimentary Basin.