Who, what and where are ERCE?
At ERCE, we are the independent energy experts. Founded on decades of experience, ERCE is entirely employee owned and financed. We provide independent, integrated and multi-disciplinary answers to the commercial and subsurface problems faced by our upstream client base, from our offices in the UK, Singapore and, recently, Perth.
We offer four key services to the energy industry: reserves and resources evaluation, where we are a world leader, commercial analysis, which is a rapidly growing sector for us, technical services, where our multi-disciplinary teams are brought to bear to fix your reservoir problems, and as a result of what I hope is acknowledged reputational and technical excellence, we routinely provide unitization advice and expert witness support.
How does ERCE differentiate itself from its competitors?
Our independence and our expert technical abilities. With aligned employee ownership, and a diverse staff base, we enjoy an open and integrated working environment where we challenge the norm and embrace innovation. The result? Truly independent, integrated and cost-effective results for our clients; results that are respected throughout the industry.
How has the increase in oil price over the past 18 months affected interest from prospective investors? Are there any particular regions, asset maturity or participants that are more active?
The energy industry has had a torrid time over the past few years, which has also been transformational. We are noticing an increase in optimism, but this is, rightly, underpinned by strong capital discipline. It is encouraging to see more acquisition and divestment activity, more liquidity available (for the right asset), and as a result, the emergence of that next generation of energy company.
The increased level of asset scrutiny has led us to develop our commercial analysis services, through our Economics and Costs Group, to fulfil the demand for pragmatic economic screening and development planning.
What do you consider to be the biggest challenge facing our industry in the next decade – aside from commodity prices?
Stewart Easton (our general manager, APAC) and I regularly debate this. The global energy mix will undoubtedly change over the next decade, and that change will lead to uncertainty. However, the biggest challenge that our industry will face is in the recruitment and retention of the next generation of talented individuals. ERCE believes in supporting our early career professionals and tailor our training programmes to individuals. Our Graduate Development Scheme accredited by the Energy Institute and the Geological Society of London.
If you could change anything in our industry what would it be and why?
For me, again, this all boils down to our next generation. Firstly, we need to make it clearer that the energy business provides a fantastic environment to work in. We also need to ensure that we have an environment that is flexible enough, and enables open challenge, so our workforce and solutions evolve at the pace that the industry will change in the future. Those that are able and unafraid of doing this will be the successful energy companies of the future.
In which region have ERC Equipoise seen the most growth over the last 12 months and do you expect this trend to continue, or do you see growth potential elsewhere?
The development of our APAC business from a standing start in just three years has been a phenomenal result, with colossal effort from all involved. We have a great team in place, and I’m sure this trend will continue. Where next? Watch this space.
What’s next for ERCE?
The growth of our services within the Asia Pacific region has been exciting, but we’re by no means at the end of that journey. Our Economics and Costs Group is developing well, and we see great opportunities here, too. As for the medium term, ERCE has further exciting plans, backed up by the recent strengthening of our Board. I’ll look forward to telling you more about this when we meet in 2019!
ABOUT ADAM LAW
Dr. Adam Law is a founder and Managing Director of ERCE, and has over 25 years’ experience in the energy industry. Adam worked as a Geoscientist for Amerada Hess and British Gas, prior to joining Equipoise Solutions as a Principal Geoscientist in 2003.
Adam has worked in a variety of basins around the world and has been involved in all aspects of geoscience analysis, from frontier exploration to field rehabilitation. In recent years he has led the geological and geophysical evaluation of some of largest discoveries in the world.
Adam is a registered Auditor with the SPEE and certifies reports for a number of stock exchanges as a Competent Person. He holds a PhD in Geophysics from Cambridge University, and a Bachelor of Science in Exploration Geophysics from London University. He is a former Officer of the Geological Society of London, and has been a member of the Council of the PESGB. He is currently Honorary Treasurer of the Science Council.
ERCE is the leading upstream Energy Consulting Group based in London and Singapore. Our integrated, multi-disciplinary team provides independent insights into the technical and commercial challenges faced by our clients.