Newsletter

Brown heads Calgary office

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Brown

New manager brings in-depth understanding
of the financial side of evaluations

Keith Brown became the new manager of the
Ryder Scott Calgary office and a vice president
March 1.  Previously, he was manager of the Oil &
Gas Evaluations Group at Royal Bank of Canada
in Calgary.

Brown, a petroleum engineer since 1970, also worked at Gulf Canada Resources Ltd. and Shell Canada Ltd.   "I saw this as an opportunity," he said.   "Ryder Scott is continuing to develop a reputation as a reliable, consistent consultant.  The Canadian operation started out four years ago with only four customers and now has about 70 clients."

Brown graduated from Technical University of Nova Scotia with a degree in chemical engineering. He is a member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta (APEGGA); the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) and the Society of Petroleum Evaluation Engineers (SPEE).

"Clients have to know that the independent interpretations by petroleum consultants will stand up to the test of time — from initial production to final abandonment," he said. "That comfort only comes in working with engineers and geoscientists experienced in evaluating many, diversified reservoirs and basins. The Ryder Scott Calgary office has that caliber of talent from top to bottom."

The office has 24 staff members with wide-ranging backgrounds in the petroleum sciences. The staff has evaluated properties not only in the Western Canada Sedimentary Basin but throughout Canada from offshore East Coast to British Columbia. Last year, the Calgary staff also evaluated reservoirs in Azerbaijan, Ecuador, Egypt, Poland, Russia and the Ukraine.

"Several substantial acquisitions and divestments have been completed based on Ryder Scott reports," said Fred Richoux, former manager of the Calgary office, who is returning to Houston headquarters.

Speaking about merger and acquisition (M&A) activity amid the industry downturn, Brown said, "Beneath that dark cloud of uncertainty sits a field of opportunity." He remarked that "record low" oil prices have precipitated M&A activity that creates a demand for reliable third-party opinions from independent consultants.

"A consultant can prove invaluable in ensuring a fair and equitable recognition of each company’s value," said Brown. "After the merger, some properties undoubtedly won’t fit into the new plans. Once again, a third-party consultant can facilitate the divestiture of minor properties."

He also sees the latest round of staff cuts forced on the industry by depressed prices as creating a need for expertise that consultants can provide via outsourcing. (A related article on Page 6 states that downsized E&P companies attempting to meet corporate objectives of maintaining production and reserve growth will look to outside resources for additional engineering.)

To contact Brown, please call 403-262-2799 or visit the 37th-floor offices at 700 2nd St. S.W. in Calgary.


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