Oil & Gas

Crude oil and gas is vital to many industries and accounts for a large percentage of the world’s energy consumption. The integrated operations of their extraction, refining and downstream petrochemical processing, as a whole, represent the world’s largest industry.

As the world’s premier forensic accounting firm, MDD’s experience in measuring loss and damage in the oil and gas industry is extensive and encompasses a wide range of operations, facilities and situations.

We’ve measured losses due to equipment failures, fires, explosions, floods, power failures, cyber-attacks, supply-chain issues, logistics issues, fraud, employee theft and others.

When clients hire us to quantify oil and gas losses, we will:

Review operational, financial and management reporting records
Interview key management, sales and operations staff
Review criteria, assumptions and methodology used for forecasting and planning operations – this could be a complex linear regression program or a more simplistic production capacity method
Compare forecasted operations to actual during the period of interruption and following
Consider the impact of non-loss related factors such as quality, environment and market prices
Assess the impact of changes to planned maintenance cycles and segregate unrelated operating conditions and events that may impact operations during the loss and recovery period
Communicate the progress and results of the analysis in a clear and timely manner
Expert and consulting witness testimony when needed

For an accurate, credible assessment of an oil and gas related loss, hire MDD.