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Projects: Crude Oil Production Facilities

Due Diligence

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Situation

A petroleum client was preparing to close facilities over a 300+ square-mile area that operated from the early 1960’s to 2005: production wells, storage tanks, pumping stations and pipelines. The transaction was part of a process to return leases for crude production facilities to the landowner.

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Results

ATC helped this petroleum client significantly reduce its liability and risk and achieve a documented cost savings of $480,000. The strategic approach included development and implementation of a Phase II Due Diligence effort. By leveraging refining and transportation business unit relationships, ATC helped the client reduce transportation costs and eliminate tipping fees for crude-impacted soils. Regulatory closure was granted to 22 of the 23 identified sites.