Smith Rea Energy - experts in hydrocarbon accounting

The oil and gas industry has traditionally had a strong focus on measurement. Considerable effort is spent ensuring that metering and analysis are adequately specified and measurements derived in accordance with contractual and regulatory requirements. Unfortunately, the same cannot always be said of allocation and reporting. We at Smith Rea believe a similar rigorous approach is essential in the development and operation of allocation rules.

Our experience suggests that oil and gas producers are becoming increasingly aware of the value that can be realised by adopting such an approach. They have recognised that accurate and timely allocation information can provide a number of important benefits:

Eliminate the errors and bias that can lead to financial loss and costly disputes
Enable cost effective decisions to be made in every area of operations from reservoir management to production scheduling
Help generate a competitive edge in today’s expanding gas markets
Demonstrate a commitment to transparent and auditable corporate governance.

For these reasons we have extended our range of services over recent years to cover every aspect of hydrocarbon accounting. This ensures we can provide our clients with the comprehensive and holistic solutions they expect from the UK’s leading independent consultancy.