Acquisitions & Divestments

Our approach to helping oil and gas customers with the divestment and acquisition of assets ensures that both the management of data and the transition of key business processes are given proper focus and consideration.

While the technical IT aspects often take precedence in these transition projects, Accord’s experienced team know that a thorough understanding of the full production to sale process, and of the various commercial obligations, are vital to ensuring all business processes can function before, during and after the transition.

We are an independent consultancy with detailed domain expertise and often direct knowledge of the asset portfolio being transitioned. This experience, coupled with our focus on the complete business process and commercial/regulatory obligations, places us in an excellent position to manage and deliver transition projects.

Acquisition & Divestment Transitions, Delivered in Detail

Data & IT Management

When interests in assets are acquired, there is a requirement to manage the new data associated with the asset and to incorporate that data into the acquiring company’s portfolio data set, and the Accord team have many years of project experience in this area. There are also usually other (sometimes overlooked) IT systems and tools that form an integral part of ongoing business processes and data management, and we ensure that these are accounted for and addressed as needed.

Attention to Process

Careful planning delivers a smooth transition with minimal service disruption. By focusing on the transition of complete business processes, rather than just IT systems, Accord deliver assurance that all commercial and regulatory obligations will continue to be met in the new environment — working closely with integrated transition teams on client-side throughout the whole transition process.

Knowledge & Access Transfer

Another critical area that must be handled with care is the transfer of knowledge and responsibility between key personnel. In most cases, only a subset of staff is transferred from one company to another, which means gaps in understanding is a very real risk. Additionally, the transfer of access and responsibility between teams and staff has to be thoroughly delivered at crucial times in the transition process.

Transition Process

While every transition is unique, the 5 stages described here give an overview of Accord’s structured and in-depth approach to these projects.

STAGE 1

Planning & Strategy

The initial strategic phase is all about ‘big picture assessment’ — reviewing current strategies, engaging with key stakeholders, identifying risks and areas where Accord can best support.

Assessment of current client transition plans and strategic approach.
Initial discussions with key stakeholders with (ideally) both the selling and acquiring companies. Accord’s position as an experienced, neutral third party helps facilitate these conversations.

Initial identification of potential gaps, risks and mitigation areas.
Identification of the specific areas where Accord can best assist to help ensure a successful transition.

STAGE 2

Transition Preparation

The second stage brings closer analysis, in-depth research and fully scoping the deliverables and responsibilities involved in the wider client transition plan.

Data gathering, interviewing and shadowing to confirm the “as is” obligations, tools, data flows & processes then mapping them to the “to be” operation.

Analysis of data flows from upstream metering all the way through to products for sale and how these will be managed in the new environment.

Identification of key external obligations, responsibilities and timelines for the incoming and outgoing operator.

Helping ensure all relevant business documentation and data has been requested.

Assessing team requirements — such as new staff, knowledge transfer, procedure definitions.

Assessment of overall infrastructure — including IT systems but also ancillary tools, manual processes and Excel spreadsheets.

Understanding the impact of the movement of IT systems, including historic data.

System acceptance test planning.

Confirming deliverables, dependencies & responsibilities feeding into the wider client transition plan.

STAGE 3

Transition Plan Execution

When analysis and planning is complete, we work closely with the client to action and implement the agreed plan — monitoring progress throughout to ensure complete delivery.

Implementation of new systems and tools to support business processes, where existing systems and tools are not being migrated.
Adapting existing procedures or writing new procedures as appropriate.

Providing staff support to augment the client’s Hydrocarbon Accounting team.

Detailed shadowing or training as appropriate to ensure business processes can operate from day one.

Transition dry runs and acceptance testing.

Assistance with the migration of business documentation and data.

Detailed transition planning within the wider client transition team leading up to and over the transition date ensuring a smooth transition.
Execution of the transition in coordination with all other involved parties.
Day one, week one, month one checks and targeted business & IT support.

STAGE 4

Operation

Following the execution of the agreed transition plan, the next phase is for important fine tuning and adjustments to the newly established day-to-day business processes within the newly acquired / merged / divested enterprise.

Operational support for Hydrocarbon Accounting systems and associated tools.

Augmenting the client’s Hydrocarbon Accounting team as needed, or as part of a more managed service supply.

Integration with client’s existing portfolio reporting.

STAGE 5

Transformation

The fifth stage in this process is about improving the cost-effectiveness and long-term sustainability of this ‘new normal’ — utilising our depth of expertise to help clients get the most from their newly acquired assets or systems.