A&D Negotiated Terms Workflowtraci
A&D Negotiated Terms Workflow
- Secure complete well list from seller, cross-reference from 3rd party sources.
- Request outside 3rd party reserve report from seller.
- Interpret the decline curve on every existing well.
- Carefully evaluate abandonment pressures and conditions.
- Identify well spacing, and potential for in-field drilling.
- Identify potential for improved wellbore and reservoir efficiencies.
- Identify potential for reducing LOEs, drilling, and completion costs.
- Identify potential for expanding the value of the asset by selectively acquiring bolt-on opportunities.
- Negotiate and discuss preliminary 3rd party reserves audit.
- Secure updated P&A costs.
- Develop independent reserves report.
- Title check all leases.
- Prepare bid.