This procurement process covers 2 main types of Services.
1- Review Process - A review of the Borrower’s third party and/or internally prepared proved developed producing (“PDP”), proved developed non-producing (“PNP”), and proved undeveloped (“PUD”) reserves evaluation to determine if the estimates are reasonable, adjust the reserves evaluation for items not included in the evaluation,and run price sensitivities based on BDC’s oil and gas price deck;
2- Assessment Process – provide a written report documenting the Supplier's conclusions and adjustments to the reserves evaluation with an explanation of any significant variations identified during the Review Process. The report will include the following: (i) analysis of the corporate level lease operating expenditure statements, (ii) an analysis of the corporate Abandonment Retirement Obligations (“ARO”), (iii) an Economic Model for each of the PDP, PNP and PUD reserve classes, (inclusive of any hedging contracts specified by the Borrower) based on BDC’s oil and gas price deck (including a base case, downside sensitivity and upside sensitivity) and reflecting the impacts of recommended changes to the corporate reserve evaluation.
