Sproule ERCE Company Profile

Background

Overview

Sproule ERCE is a leading independent energy consultancy formed through the strategic merger of Sproule Associates Limited and ERCE (ERC Equipoise) in March 2025. The company specializes in providing technical, commercial, and operational expertise to energy companies and financial stakeholders worldwide. With over 70 years of experience, Sproule ERCE offers authoritative analysis for asset valuation, regulatory reporting, portfolio optimization, and capital allocation.

Mission and Vision

Sproule ERCE's mission is to empower clients to make confident, strategic decisions by delivering fit-for-purpose technical and commercial analysis. The company's vision is to lead the world in energy knowledge, contributing solutions for a reliable, affordable, and sustainable energy system.

Primary Area of Focus

The company focuses on the entire energy value chain, including reserves certification, resource assessments, field development studies, simulation studies, expert witness testimony, consulting, oil & gas production, asset management, reservoir characterization, modeling, NGL, LNG, due diligence, geology, engineering, economics, strategic advisory, CCUS, carbon management, ESG reporting, geothermal, M&A, market studies, and hydrogen.

Industry Significance

Sproule ERCE is recognized as one of the largest auditors of publicly disclosed reserves and resources for independent oil and gas companies listed on the London Stock Exchange, as measured by market capitalization. The company's expertise spans over 90 countries, supporting projects in various energy sectors and contributing to the development of sustainable energy solutions.

Key Strategic Focus

Core Objectives

• Global Expansion: Enhance the company's global footprint by leveraging the combined strengths of Sproule and ERCE.

• Integrated Solutions: Provide comprehensive advisory services across the energy value chain, from exploration to decarbonization.

• Sustainability Commitment: Drive sustainable growth by integrating low-carbon solutions and supporting clients in achieving their environmental goals.

Specific Areas of Specialization

• Reserves Certification: Offer independent reserves certification under various standards, including NI 51-101, SEC, and SPE-PRMS.

• Low-Carbon Solutions: Develop and implement carbon capture, storage, and decarbonization pathways to support clients' sustainability initiatives.

• Geothermal Advisory: Provide expertise in geothermal energy, including well production management, project management, and feasibility studies.

Key Technologies Utilized

• Advanced Reservoir Modeling: Utilize state-of-the-art modeling techniques for accurate resource assessment and field development planning.

• Geospatial Analysis: Employ advanced geospatial tools for subsurface mapping and resource evaluation.

• Carbon Management Technologies: Implement technologies for carbon capture, storage, and utilization to support decarbonization efforts.

Primary Markets Targeted

• Oil and Gas Exploration and Production: Support upstream activities with reserves certification, resource assessments, and field development planning.

• Renewable Energy: Provide advisory services in geothermal energy and assist in the transition to low-carbon energy sources.

• Carbon Management: Assist clients in implementing carbon capture and storage solutions to meet environmental regulations and sustainability goals.

Financials and Funding

Funding History

As a privately held company, Sproule ERCE has not publicly disclosed detailed financial information or funding history. The merger between Sproule Associates Limited and ERCE in March 2025 combined the resources and expertise of both organizations, enhancing their financial position and market presence.

Recent Funding Rounds

Specific details regarding recent funding rounds are not publicly available. The merger in 2025 was a significant strategic move to strengthen the company's capabilities and global reach.

Notable Investors

As a privately held entity, Sproule ERCE does not disclose information about individual investors.

Intended Utilization of Capital

The capital from the merger is intended to:

• Expand Global Operations: Establish and strengthen offices in key energy hubs worldwide.

• Enhance Service Offerings: Integrate and expand services across the energy value chain, including reserves certification, low-carbon solutions, and geothermal advisory.

• Invest in Technology: Develop and implement advanced technologies for resource assessment, field development, and carbon management.

Pipeline Development

Key Pipeline Candidates

Sproule ERCE's pipeline development focuses on:

• Helium Projects: Independent resource evaluations for helium projects, such as the Sagebrush Project in Colorado, confirming substantial commercial potential.

• Geothermal Projects: Feasibility studies and technical consultancy for geothermal energy projects, including the Tunu project in Greenland.

Stages of Development

• Sagebrush Project: Completed independent resource evaluation confirming helium and natural gas resources.

• Tunu Project: Conducting a pre-feasibility study to assess the viability of a geothermal helium project.

Target Conditions

• Sagebrush Project: Helium and natural gas resources in the Leadville Formation.

• Tunu Project: Geothermal energy potential with associated helium extraction in Greenland.

Anticipated Milestones

• Sagebrush Project: Further seismic surveys and flow testing to enhance resource understanding and development planning.

• Tunu Project: Completion of the pre-feasibility study by August 2025 to inform project decisions.

Technological Platform and Innovation

Proprietary Technologies

• Advanced Reservoir Modeling: Utilizes state-of-the-art modeling techniques for accurate resource assessment and field development planning.

• Geospatial Analysis Tools: Employs advanced geospatial tools for subsurface mapping and resource evaluation.

Significant Scientific Methods

• Carbon Management Technologies: Develops and implements technologies for carbon capture, storage, and utilization to support decarbonization efforts.

• Geothermal Feasibility Studies: Conducts comprehensive studies to assess the viability of geothermal energy projects, including resource assessment and economic analysis.

Leadership Team

Executive Profiles

• Jim Chisholm: President and CEO of Sproule ERCE, leading the strategic direction and operations of the company.

• Jonathan Hull: Executive Vice President of Europe, Africa, and Asia Pacific, overseeing operations in these key regions.

• Rich Wade: Chief Operating Officer, ensuring optimal performance across all operational functions.

• Chris Mylde: Chief Financial Officer, driving corporate and financial strategy with extensive corporate development expertise.

• Paul Chernik: Chief Commercial Officer, focusing on client relationships and commercial excellence.

Competitor Profile

Market Insights and Dynamics

The energy consultancy market is characterized by a growing demand for integrated solutions across the energy value chain, including reserves certification, low-carbon solutions, and geothermal advisory. Companies are increasingly focusing on sustainability and decarbonization to meet global energy transition goals.

Competitor Analysis

• RPS Group: Provides consultancy services in energy, water, and infrastructure sectors, offering similar services in reserves certification and resource assessments.

• Gaffney, Cline & Associates: Specializes in upstream oil and gas consultancy, including reserves evaluation and field development planning.

• DeGolyer and MacNaughton: Offers independent reserves and resources evaluations, as well as consulting services in the energy sector.

Strategic Collaborations and Partnerships

Sproule ERCE has engaged in strategic collaborations, such as conducting independent resource evaluations for projects like the Sagebrush Project in Colorado and the Tunu geothermal helium project in Greenland.

Operational Insights

Sproule ERCE differentiates itself through its comprehensive service offerings across the entire energy value chain, from exploration to decarbonization. The company's global presence and expertise in both traditional and renewable energy sectors position it as a leading advisor in the evolving energy landscape.

Strategic Opportunities and Future Directions

Sproule ERCE aims to leverage its combined expertise to expand its global footprint, enhance service offerings, and support clients in achieving sustainable energy solutions. The company is focusing on integrating low-carbon technologies and geothermal energy solutions to meet evolving market demands.