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Oil & Gas

Petroleum oil is vital to many industries and accounts for a large percentage of the world’s energy consumption. The integrated operations of petroleum 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.

oil loss, gas loss, oil and gas loss

We’ve measured losses due to equipment failures and fires, floods, wildfires, boiler failures and explosions, fraud, employee theft and many 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
  • 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.

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