Unitization & Redetermination
Independent Ownership and Equity Sharing Determination
MHA is experienced in providing support to companies in the process of unitizing reservoir ownership and in redetermining equity sharing. Our integrity and independence allow us to perform these studies either on behalf of a particular client or in the position of a neutral arbitrator.
Detailed example of MHA experience:
- Oil Field, North Africa: MHA was retained by working interest owners as the Independent Expert to determine the equity split in this large (> 1 billion barrels in place) oil field. Equity determination was based on STOIIP. MHA assembled a team of 10 experts (petrophysics, geophysics, geology, engineering), as well as 4 external discipline peer reviewers. An independent static 3D model was constructed, following the rules specified by the arbitration and the data provided, and compared this with four (4) separate static models submitted by all working interest owners. Multiple oil-in-place realizations and uncertainty cases were run and evaluated with the MHA model to determine best case scenario for all parties involved.