Read the latest news about the Steve Reese and the Reese Energy Consulting team, dedicated to helping oil and gas clients optimize investments, capitalize on opportunities, and secure the best prices for product.
Edmond, Oklahoma – January 14, 2016
In the wake of freefalling prices for natural gas, crude oil and natural gas liquids, most North American producers and midstream companies are exploring more accurate measures to uncover lost and unaccounted for revenues. "This becomes even more important for those producers who have cut their production plans and need to optimize every molecule of energy," says Steve Reese, chief executive officer of Reese Energy Consulting.
To combat oversights, inaccurate payments, and ensure correct measurement and sampling techniques, Reese Energy Consulting has expanded its services to include the auditing of natural gas contracts, measurement and sampling to uncover lost and unaccounted for revenue. Reese assists producers and gatherers in the evaluation of their field measurement and sampling techniques to ensure they are using the most efficient equipment and practices to achieve the highest levels of accuracy. The firm also offers field training to teach employees proper practices and help maximize energy companies' bottom line.
"When Reese Energy Consulting shows producers and midstream companies how this approach uncovered thousands – and in two recent cases, well over $1 million – in lost revenue, they understand why it's vital, especially now, to partner with an energy consulting firm that knows exactly where to look for dollars missed," Reese said. "Independent accounting firms and large engineering firms don't always have the energy marketing and contract knowledge or expertise to understand the nuances and intricacies of natural gas contracts," he adds.
As opposed to the larger accounting and engineering firms that typically perform natural gas contract, measurement and sampling audits, Reese is composed of a smaller, tight team of energy experts well known in the industry for their experience and successes. Steve Reese offers more than 35 years of experience in the natural gas world and has consulted for more than 300 energy firms. Industry leaders Cliff Stover and Orville Mertins each bring 35 years of experience in natural gas measurement, natural gas sampling and all aspects of production and midstream operations. Lesa Bice, also an industry veteran, serves as lead auditor on gas contract payments, allocations and midstream accounting prices.
Formed in 1994 and headquartered in Edmond, Okla., Reese Energy Consulting is a full-service energy services provider that offers strategic contract negotiation, renegotiation opportunities, and contract auditing for independent oil and gas producers and midstream companies. Using its broad base of industry relationships, key partnerships and strategic market channels, Reese also has successfully assisted more than 300 energy clients identify, locate, acquire or divest assets at the best price, at the right time; leverage midstream assets to achieve greater commercialization and strategic growth; and provide the precise gas contract, gas measurement and sampling audits that maximize returns on investment for producers and midstream companies. Reese Energy Training offers a complete educational curriculum across the energy spectrum for oil, gas and midstream companies to enhance employee value.
May 27, 2015
Faced with uncertainty in the NGL price arena, recent declines in prices and a more conservative atmosphere on drilling activity, natural gas midstream firms continue to structure their wellhead contracts toward fee-based margins. Read more →