About Us
Business concept
In an environment of sustained relatively high oil and gas commodity prices the competition for attractive exploration acreage and producing assets is high. For a small company like Enovation it is important to focus on opportunities which, at face value, look less attractive but which hold unrealised or hidden value potential
By using advanced geophysical technologies, as yet unfamiliar to or untried by the industry in general, to unlock this true potential, Enovation is able to exploit a value creation niche which is relatively uncontested
In order to maximise the chances of success, Enovation will screen a large number of opportunities and be highly selective in choosing which ones to pursue. The company’s special approach to partnering provides a resource base which is both large enough to enable such a wide screening process whilst still remaining affordable. The company will acquire assets by ‘farming-in’ or ‘earning-in’ to existing assets in return for its contribution by way of an advanced technology campaign
After successfully demonstrating and securing the added value created by its contribution, Enovation may, choose to dispose of the asset to a more appropriate owner thereby providing funds for further exploitation of the company’s competitive niche
Enovation will target assets which typically represent an unresolved challenge to their current owners or are seen as no longer strategically appropriate
These may include but not necessarily be limited to:
- Depleting reservoirs where abandonment costs or relinquishment are expected soon
- Stalled discoveries deemed to be marginal or
un-commercial - Exploration prospects that are deemed to be too high risk to meet their owners priority selection criteria or
are simply difficult to see
The company will initially focus on the US waters of the Gulf of Mexico, the North Sea and specific areas within Asia Pacific as it believes these arenas are rich in these types of assets. In addition, the extensive production and infrastructure facilities in these regions allows for a lower risk and more cost effective exploitation of these opportunities
For details see Assets
Through its extensive knowledge of the technology service industry, the company’s core management team is able to source, design and apply advanced geophysical technology that will provide new geo-technical data that will be used to resolve the particular uncertainty or challenge at hand
The most likely technology to provide this fresh insight is often termed ‘emerging’ technology. These technologies are typically under-utilised by the industry as they are deemed to be too expensive, too risky or simply unfamiliar or unknown. In the right hands these technologies can deliver game changing information
Some of the technologies that Enovation has used and intends to use that fall into this category include:
- Multi-component seabed seismic
- Electromagnetic (EM) surveying (particularly when relating to shallow water acquisition and for deep and complex geological settings)
- Multi-azimuth towed streamer seismic
- Pre-stack AVO and inversion, including an interpretation methodology for discriminating lithology and fluid type
Over time other technologies currently under development will be added to the list. The emergence of new advanced technology is an ongoing process which will allow Enovation to exploit this so called ‘technology adoption gap’ to its continuing competitive advantage
For details see Technology
The company has assembled a powerful, world class team of experts with the wide ranging skills required to enable the sourcing, selection, acquisition and exploitation of target opportunities in sufficient quantity to ensure success
To get the best from this diverse resource base it is vital to secure the true business alignment of all alliance partners, technology providers and expert advisors. Enovation has negotiated individually tailored, long term contracts with each party. These contracts are specifically designed in such a way that success for one party is only optimised by a corresponding success for their counterpart - a true
‘win-win’ situation
For details see Alliances
Using advanced technology to reduce risk and realise potential
