 |
Guidepoint Global's Proactive Efforts In Support of Client Research on BP Oil Spill
|
On April 20th, 2010, there was an explosion on the Deepwater Horizon oil rig in the Gulf of Mexico (GOM). The rig sank 2 days later, and within 10 days oil had washed ashore in Louisiana. In May, efforts to stop the leak were unsuccessful and estimates of the leakage increased.
The Guidepoint Approach
As the events began to unfold, Guidepoint Global’s research team for the Energy industry mobilized to:
- Anticipate the research questions Clients would have throughout the crisis
- Determine which areas of the oil value chain would provide a 360° perspective of the impacts
- Phone screen relevant Advisors in our network and custom recruit new Advisors to augment the existing network
The Guidepoint Team
Our team includes a diverse combination of experienced individuals from the energy industry (Former Shell Oil Products, Schlumberger Oilfield Services, and Hess).
The Solution - Phone Consultations
As more Clients increased their research in this area, we connected them with Advisors across the value chain. Below are just two representative areas of inquiry and Advisors:
Inquiry: Cleanup Effort Resources and Timing — Offshore Supply Vessel ExpertDirector of an offshore marine services firm and former Chairman and CEO of a leading provider of Platform Supply Vessels (PSVs) and Marine Services company. He founded the firm following his retirement as EVP of a major OSV provider in the GOM. He was involved in the spill response for the Valdez Oil spill, and his ships were involved in the clean-up for almost 10 years. He discussed how vessels could be redeployed to the clean-up efforts and how long this could take.
Inquiry: Impacts of Moratorium and Potential Liabilities – Production Engineer for Major Oil Company
A Production Engineer from a major oil company responsible for deepwater GOM assets for the firm. He discussed how the moratorium could affect work for service companies and rig operators in the GOM. In his 20 years experience in the GOM, he worked on many projects with Joint Operating Agreements (JOAs). He also discussed how JOAs work and how non-operating partners interact on wells and what some of their liabilities could be.
The Solution - regulatory teleconference
Guidepoint also quickly set up a teleconference with an Advisor with 26 years experience in the federal government and Congress. He was the Republican General Counsel for the House Committee on Natural Resources and was on the Energy and Minerals Counsel for the House Committee on Resources. He was the leading legal expert on energy and minerals production from federal onshore and offshore lands. He was also Attorney for Royalties and Offshore Minerals at the Department of the Interior, representing the MMS in complex litigation, and counseling the MMS in the implementation of its responsibilities.
Client Feedback
Telephone Consultations
Advisors provided insight that could not be obtained from reports or industry consultants. Also, Guidepoint suggested individuals who could discuss angles our Clients had not previously considered.
Teleconference
The Advisor was extremely up-to-date and knowledgeable on what was happening in Washington. His extensive experience was invaluable, and the format allowed Clients to not only hear issues the Advisor thought were important, but also hear the questions other Clients were asking.
