The Upstream sector plays a critical role in our national and world economies. Many factors contribute to the success of an Upstream corporation and due to the competitive environment in which they operate, skilled and knowledgeable talent coupled with informed and smart business decisions are vital


Why Clients Call

Upstream companies reach out to Sirius Solutions when business events occur requiring functionally diverse and seasoned talent with proven results in the Exploration & Production (E&P) sector.

Sometimes they call when they are looking to operationally transform part or all of their functional organizations. Our projects have ranged from improving the effectiveness of functions, departments, and desks, to providing technology assistance in selecting and implementing software, to increasing the profitability of wellbores, to managing the administration of assets in clients’ land and land administration functions.

Other times, Upstream companies reach out to us when they are transacting and transitioning. Whether it’s a merger or the buying/selling of leases and wells, preparing for an IPO, relocating functional departments, or starting up private equity-backed entities, we have significant experience helping clients with major corporate events.

In addition, they contact us when dealing with time-sensitive issues like disputes and litigation, lease negotiations, or cash flow optimization.

These trigger events are by no means exhaustive; rather, they exemplify why Upstream companies depend on us.


How We Help

Our Upstream capabilities fall into four main areas: Land, Production, Financial Operations, and Technology. Across all four areas we have solid experience in all Upstream software.

Land


Land / Lease Data Integrity
Acreage Data Integrity
Due Diligence Support
Working Interest Negotiation & Resolution
Ownership Analysis & Title Curative
Land Administration Support
Post-Acquisition Integration


Production


Production Network Building
Allocation Review and Integrity Support
AFE / Capital Budgeting
Software Migration, Integration and Syncing with Accounting ERP Systems
Historical Reconciliations 
Reserves Reporting Support
Supply Chain Management


Financial Operations  


Accounts Payable
SEC/Financial Reporting 
Budgeting & Forecasting
Revenue & Joint Venture
Lease Operating Statements
Severance, Royalty and Production Compliance
Real-time and Predictive Performance Reporting    
Acquisition Integration
Cost Analytics


Data/Technology


Selections
Implementations
Start-Up Services
Data Hierarchy Design and Modifications
Data Migration and Cleansing
Process Automation (RPA)
End User Enablement and Training
Dashboard Reporting



Examples of Our Work

Operational Transformation
  • We established sound operational performance reporting and cost analytics that gave clients the ability to quickly reduce expenditures in the lower commodity price environment and improve business performance
  • We eliminated backlogs of transaction processing in land administration, revenue and joint interest billing, which accelerated correct cash collections and payments to third parties, and reconciled transaction processing errors
  • We assessed data integrity, implemented data hierarchies, and developed processes to improve the accuracy and timing of transaction processing and performance reporting
  • We successfully delivered in-depth software selection and implementation for our clients; implementations that are project-managed by us are achieved on time and on budget

Transactions & Transitions

  • We automated reports in support of restructuring efforts including 13-week cash flow analyses and the reporting of unsecured creditors, executory contracts and asset lists; this automation eliminated the potential for manual errors and significantly increased the timeliness of the reports
  • We migrated well, lease and contract information related to acquisitions and divestitures; in doing so, we validated and cleansed the data to ensure asset rights were preserved and retained; this allowed for the quick establishment of operations both in the field and in-house, and the development of performance-based analytics
  • In order to reduce the time and costs required for fresh start accounting, we automated the realignment of entity-level financial reporting

Time-Sensitive Issue Resolution

  • We assessed regulatory reporting processes and eliminated errors in severance tax and royalty payments in addition to identifying tax exemptions for enhanced cash recovery
  • We provided detailed advice, analysis, reporting, and documentation for production requests related to contract disputes between parties for performance payments, crude oil contracts, field services, net revenue & royalty payments, joint interest billing, and production reporting; this information was used to support in-house and outside counsel, reducing the costs of litigation support


How We Engage: As with all of our engagements at Sirius Solutions, our clients can work with us in a manner best suited to their environment and situation. We can provide advice and assessments, manage projects, offer interim staffing solutions or fully implement and execute a strategic initiative. Our Upstream clients have also co-sourced and outsourced various areas to us including land administration, financial operations and software support.