Q: What services does Hendrickson Beaird offer?
A: We provide petroleum engineering and reserves evaluation services, including independent reserves reports, acquisition and divestiture support, technical due diligence, asset valuation services, litigation support and engineering consulting for oil and gas assets.

Q: What is a licensed Professional Engineer (PE), and why does it matter?
A: A licensed Professional Engineer (PE) is an engineer who has met state requirements for education, experience, and examination, and is legally authorized to take responsibility for engineering work.

For clients, this matters for a few reasons:

• Accountability – A PE is personally responsible for the technical work and conclusions, not just the firm.

• Standards of practice – Licensed engineers are required to follow established engineering standards and a professional code of ethics.

• Credibility – Work performed under the supervision of a PE carries more weight with lenders, investors, regulators, and courts.

At Hendrickson Beaird, we are licensed engineers with decades of experience, and we stand behind the technical conclusions we deliver.

Q: How does Hendrickson Beaird support clients in litigation or dispute matters?
A: We provide independent engineering analysis and expert support grounded in established industry standards.

Our work is performed by licensed engineers and is designed to be clear, well-documented, and defensible. We regularly support clients through all phases of a dispute, including technical evaluation, expert reports, depositions, and testimony.

Q: Does it matter whether your engineering analysis is prepared by a licensed Professional Engineer in a dispute or litigation setting?
A: Yes. In a dispute, the credibility of the analysis depends in part on the qualifications and accountability of the person performing the work.

• Recognized credentials – A PE designation is a widely accepted benchmark for engineering expertise.

• Accountability – A licensed engineer is legally responsible for their work and conclusions.

• Standards-based work – Analyses are expected to follow established engineering methods and practices.

These factors can be important when work is subject to scrutiny by opposing experts, counsel, or the court.

Q: What is the difference between a reserves audit and a reserves estimate?
A: A reserves estimate is a full, independent determination of the recoverable hydrocarbons associated with an asset. A reserves audit reviews and validates an existing reserves estimate prepared by another party, confirming its reasonableness and accuracy.

Q: How is valuation different from a reserves report?
A: A reserves report focuses on estimating future production and associated economics under defined guidelines. A valuation builds on that foundation by applying pricing assumptions, costs, risk and market context to estimate value for a specific purpose, such as a transaction, financing or dispute.

Q: What types of valuation do you perform?
A: We perform valuations of oil and gas assets for a range of purposes, including acquisitions and divestitures, estate and tax planning, financial reporting and litigation. This includes operated and non-operated working interests, as well as mineral and royalty interests.

Q: Are you SEC-qualified reserves evaluators?
A: Yes. Hendrickson Beaird follows SEC standards for reserves evaluations, as well as PRMS (Petroleum Resources Management System) guidelines, depending on your reporting or valuation needs.

Q: Do you serve clients outside the United States?
A: We primarily focus on North America but can evaluate international oil and gas assets depending on the scope and available data. Please contact us to discuss your specific situation.

Q: How long does a typical reserves report take?
A: Timing depends on the size and complexity of your asset base, but most reserves reports take between 2 to 6 weeks after all required data is received.

Q: What information do you need to prepare a reserves report?
A: We generally need production histories, lease operating statements, ownership information and development plans. Some situations require additional technical data such as well logs, geologic maps, and well histories, among other information. We can provide a detailed data checklist once we scope your project.

Q: Can you help with reserves for financial reporting or bank requirements?
A: Absolutely. We prepare reserves evaluations and audits suitable for lenders, investors, and financial statement requirements, following applicable standards.

Q: Do you handle unconventional as well as conventional assets?
A: Yes, our experience covers both conventional fields (onshore and offshore) and unconventional plays, including tight oil, shale, and coalbed methane. We are also experienced in water floods, CO2 floods and thermal recovery projects.

Q: How do you ensure independence and objectivity?
A: As an independent engineering firm, we have no financial interest in the assets we evaluate. Our analyses are guided by professional standards and an objective, transparent approach.

Q: What is the best way to get started?
A: Contact us through our website or by phone. We will discuss your objectives and data availability, then provide a scope of work and a proposal tailored to your needs.