Challenge Energy completes integration with SLR to form major global upstream consultancy
With volatility in the oil and gas sector leading to heightened demand for consulting services, SLR Consulting announces that its upstream specialist team, Challenge Energy, will now operate solely under the SLR brand, forming a key part of the environmental firm’s global oil and gas advisory services offering.
Challenge Energy was acquired by SLR last November to offer oil and gas clients enhanced global multidisciplinary consultancy services at all stages of the hydrocarbon value chain − from exploration through to decommissioning.
While the Challenge Energy name will no longer be used, its 18 professionals, comprising geoscientists, reservoir and petroleum engineers, economists, as well as commercial and financial experts, will continue to work from the existing Guildford base.
SLR CEO Neil Penhall said: “Challenge Energy and SLR came together to provide a truly integrated service in the oil and gas value chain. This move marks the final stage of that process, providing clarity in terms of our positioning and allowing the benefits of being part of SLR’s global offering to be fully realised.
“With all our upstream advisory services under one banner we are now focusing on developing opportunities, especially in supporting M&A activity, as clients consider revisions to strategy and the leverage of assets in the current unstable market.”
Challenge Energy was founded by Nick Hooke in 1997 and has been renowned for its work for clients in the UK, NW Europe and Africa. Projects completed since its acquisition by SLR include: a North Sea strategic portfolio review, the provision of expert advice in an offshore dispute in West Africa, acquisition due diligence in respect of major UK Continental Shelf (UKCS) transactions, as well as successful UK Onshore shale gas licence applications for a new operator.
In addition, a strategic alliance with Evercore formed in 2012 continues to grow, combining transactional advisory with technical experience in a single integrated M&A offering to the upstream oil and gas community.
Future plans for the SLR oil and gas advisory team include expanding its services in other SLR operating areas, including North America and Asia-Pacific.