How to choose an oil and gas investment consultancy firm effectively
The role of oil and gas investment consulting firms is to advice government and national oil companies, petrochemical producers, major and independent commercial oil companies, oil field service firms, renewable energy companies, private equity investors and sovereign wealth funds. These firms have the responsibility to unlock significant value for their clients. There are many reasons why one need oil and gas investment consultants. However, while seeking the consultancy expertise you need to follow some steps to ensure that after hiring the firm delivers the real value for your money.
- First ask yourself do you need a consultancy firm? If yes then you should make sure that the consultancy you are hiring will be able to help you with the problems you face. Nowadays companies in oil and gas industry are under a great pressure of restructuring. A consulting firm should take help from an oil and gas restructuring advisor to overcome challenges and come up with a strategy so that the client can make the right business decision.
- After determining that your business needs a consultancy, you need to draw up an initial brief. In the brief some points should be highlighted. The current problem that your organization is facing, outputs the consultancy should deliver, the role of the consultancy, provisional budget and timetable of work.
- Set up meetings with various oil and gas investment consultancies. You should thoroughly review a consultancy’s previous success records, published cases and expertise in particular areas. Remember large consultancies are not always the best. While hiring a large consultancy might be a good idea for a large scale project, it might burn a hole in your pocket. Small consultancies are way more cost effective.
- You should gain as much information as you can about the potential consultancy firms, from research, report, websites, written proposals and references from other. This will make sure that you choose the best oil and gas investment consultancy firm for your business.
- After choosing the consultancy you should make a formal contract with them. The contract should include the work needed to be done, the timescale and deadline for delivering the work, the fees that would be paid etc.
Undoubtedly, the companies in oil and gas industry need the help of an oil and gas investment consultancy firm whenever they are facing problems or seeking expert advice on a particular field. JBH Consulting Group is an oil and gas investments consulting firm located in Liberty, Missouri. This consultancy firm has connected numerous investors with projects across US and provided them direct capital investment opportunities.
Comprising of a dedicated team of geologists, engineers and operators JBH Consulting Group finds cost effective oil and gas drilling investments for investors. One of the major projects of this firm is the rich oil and gas wells in Kansas. Apart from providing investors with a direct opportunity to invest in the promising oil and gas wells of US, this consultancy firm also helps you assess whether you would make a good oil and gas investment or not.