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Oil & Gas > Upstream E&P Practice

Upstream E&P Practice

Umbrex connects companies in upstream E&P to independent consultants with deep experience in the industry.

Over 90% of our Upstream E&P Practice consultants are alums of McKinsey, Bain, or BCG.

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Prefer email? Write to [email protected]

Client Segments Umbrex Serves

  • Supermajors & Global Integrated IOCs: Multinationals managing diversified upstream portfolios across conventional, deepwater, and unconventional—optimizing capital allocation, exploration, decarbonization, digital operations, and JV governance; excluding refining/marketing and midstream.
  • National Oil Companies & NOC Upstream Subsidiaries: State-controlled operators developing national resources, structuring partnerships, local content, mega-project delivery, and emissions management; excluding downstream refining/retail, gas transmission, or LNG import/export operations.
  • Offshore & Deepwater E&Ps: Independents focused on offshore, deepwater, and pre-salt assets—appraisal-to-first-oil delivery, FPSO contracting, unitization, and reservoir management; excluding subsea contractors, trunklines, or refining/marketing.
  • Unconventional Shale & Tight Oil/Gas Operators: Onshore developers of shale and tight formations optimizing pad design, completions intensity, water management, and methane abatement; excluding gathering/processing, oilfield services, or midstream pipelines.
  • Conventional Onshore & Mature-Field Operators: Independent operators of conventional reservoirs and late-life assets maximizing recovery, workovers and EOR, contract transitions, and decommissioning; excluding NOCs, service providers, refining/marketing, or gas transmission.

Selected Capabilities of our Upstream E&P Practice

Strategy & Corporate Development

  • Portfolio Strategy And Capital Allocation: Optimize E&P portfolio across basins and life-cycle; rank by risk‑adjusted NPV, breakeven and resiliency; set capital envelopes, divestitures, and growth options.
  • Market Outlook And Scenario Planning: Build oil and gas price, cost and fiscal scenarios; derive production, cash flow and FID timing; inform planning, hedging stance, and resource maturation priorities.
  • M&A Screening, Diligence And Integration: Screen assets and corporates; run commercial diligence, type-curve benchmarking and decline analysis; quantify synergies; design integration or carve-out plans; accelerate value capture and de-risk deals.
  • Licensing Round And Farm-In/Farm-Out Strategy: Evaluate fiscal regimes and PSC terms; craft bid strategies, carried interests, and work commitments; structure promotes; improve acreage quality, entry cost, and risk sharing.
  • Strategic Partnerships And Country Entry: Structure JVs with IOCs/NOCs, local content strategies, stakeholder mapping, and negotiation playbooks; unlock market access, approvals, advantaged operatorship, and fiscal stability.

Operations

  • Production System Optimization And Deferment Management: Identify bottlenecks from reservoir-to-sales; optimize choke, lift, chemicals and network; manage losses and constraints; deliver base production uplift and deferment reduction.
  • Maintenance And Reliability Strategy For Facilities: Implement reliability-centered maintenance, criticality and PM optimization with spares; improve rotating equipment availability; reduce failures, downtime and maintenance OPEX.
  • Integrated Operations Planning And Short-Interval Control: Build 13-week integrated activity plans with daily huddles; synchronize wells, workovers and logistics; raise execution adherence; cut downtime and deferment.
  • Hydrocarbon Accounting And Allocation Accuracy: Strengthen metering, data reconciliation and allocation; reduce losses, mismeasurement and imbalances; improve revenue assurance, joint-venture trust and regulatory reporting.
  • Turnaround And Campaign Efficiency For Brownfield: Optimize scope, readiness, critical path and contractors; compress duration, improve start-up ramp; cut deferment, safety risk and cost.

Supply Chain

  • Materials Management And Inventory Optimization: Build multi-echelon planning, min-max and reorder points for spares, chemicals and OCTG; enable MRP; improve fill rate; reduce stockouts, working capital and obsolescence.
  • Logistics And Last-Mile To Wellsite Optimization: Integrate planning across road, marine and aviation; optimize routing, load build, backhauls, permits and dispatch; cut nonproductive time, demurrage, flight hours and freight cost.
  • Warehousing, Yard And Material Control: Redesign bases, laydown yards and warehouses; implement WMS, barcode, cycle counting and kitting; raise inventory accuracy, OTIF and turnaround time for rig and production support.
  • Supply Base And Network Footprint Optimization: Design supply base, cross-dock and forward stocking footprints by basin; dimension capacity and service levels; reduce lead time, cost to serve and operational risk.
  • OCTG And Pipeyard Management: Establish end-to-end OCTG tracking, tally, inspection and handling standards; digitize pipeyard inventory; cut damage, losses, waiting on tubulars and rig NPT.

Procurement & Strategic Sourcing

  • Drilling And Completions Sourcing Strategy: Build basin-specific category strategies for rigs, pressure pumping, OCTG, wireline, mud, directional drilling; run competitive tenders; secure frame agreements; reduce well cost and NPT risk.
  • Contracting And Rate Architecture For Services: Design MSAs, rate books, performance KPIs, indexation, volume commitments and incentives; optimize risk allocation; improve price stability, service quality and supplier responsiveness.
  • Market Intelligence And Cost Transparency: Build cost curves, rate benchmarks and should-costs for rigs, OCTG, logistics and chemicals; inform timing; strengthen negotiations; capture deflation and avoid scarcity premiums.
  • Supplier Prequalification And Local Content Compliance: Implement supplier prequalification, HSE and technical audits, anti-corruption and sanctions checks; design local content plans; reduce operational, regulatory and reputational risk.
  • Procurement Operating Model And Source-To-Pay Excellence: Establish category management, Supplier Relationship Management (SRM), and savings governance; standardize e-sourcing, catalogs, and procure-to-pay (P2P) controls; improve cycle time, spend visibility, and realized savings.

Organization

  • Asset Operating Model And Decision Rights: Design asset-based and functional matrices with clear decision rights, governance cadences, and accountability; improve speed-to-decision, handoffs, and delivery from exploration through production.
  • Spans And Layers Restructuring: Reshape headquarters, business units, assets, and country offices; optimize spans, layers, and role clarity; reduce SG&A, rework, and escalation cycles; increase responsiveness.
  • Technical Authority And Competency Management: Define technical authority levels, competency frameworks, and assessment for subsurface, wells, and facilities; standardize delegation and assurance; lower rework, nonproductive time, and major decision risk.
  • Performance Management And Incentive Design: Install KPI cascades, tiered huddles, and scorecards from assets to crews; align incentives to production, unit cost, deferment, safety; improve accountability and outcomes.
  • Joint Venture Governance And Non-Operated Oversight: Design joint venture governance, Joint Operating Committee rhythm, and non-operated asset oversight; clarify partner interfaces and approvals; reduce delays, disputes, and value leakage.

Pricing

  • Crude Marketing And Netback Optimization: Optimize sales channels, destinations, and logistics; negotiate differentials; align pipeline, rail, marine capacity; maximize realized Brent-linked netbacks and reduce quality downgrades.
  • Gas Marketing And Basis Management: Design indexation to Henry Hub and regional hubs; optimize firm transport, storage, and processing; manage basis and fuel loss; increase netbacks and nomination performance.
  • Sales Contracting And Price Formula Design: Structure term and spot contracts, floors and collars, and quality adjustments; improve price realization, optionality, downside protection across crude, gas, natural gas liquids.
  • Blending And Quality Optimization: Design blending programs for API gravity, RVP and sulfur; implement assay control and segregation; reduce downgrades, penalties, and shrink; capture premiums through spec compliance.
  • Natural Gas Liquids And Condensate Marketing Strategy: Optimize Y‑grade vs purity sales, fractionation commitments, ethane rejection, and export optionality; improve Mont Belvieu netbacks, utilization of take‑or‑pay, and contract flexibility.

Finance

  • Driver-Based FP&A And Commodity Scenario Planning: Build driver-based financial models by asset; link production, LOE, capex, and price scenarios; improve forecast accuracy, covenant headroom, and capital allocation decisions.
  • Unit Cost And Margin Transparency By Asset: Install activity-based costing and cost-to-produce dashboards; expose lifting cost, G&A, marketing, and transportation; enable unit cost reduction and economic limit decisions.
  • Capital Budgeting, AFE Governance And Project Controls: Standardize AFE workflows, stage gates, commitments, and cost tracking; improve capex predictability, cycle time, and post‑investment reviews; cut overruns.
  • Treasury, Hedging And Liquidity Management: Design commodity hedging policy, counterparty credit limits, and rolling cash forecasts; optimize liquidity facilities and collateral; stabilize cash flow and downside protection.
  • Revenue Accounting, Royalties And Compliance: Implement ASC 606 processes, division orders, royalty and severance tax compliance, ONRR reporting and settlements; reduce underpayment risk, disputes, and audit findings.

AI, Data & Analytics

  • Real-Time Production Surveillance And Optimization: Leverage multivariate models on field telemetry to optimize choke, lift and chemicals; increase production, cut deferment, and reduce chemical cost.
  • Drilling Performance And Parameter Optimization: Apply real-time analytics to detect dysfunctions and optimize parameters; lift rate of penetration, reduce stick‑slip and vibration, lower nonproductive time and bit cost.
  • Subsurface Machine Learning For Reservoir Characterization: Use machine learning on logs and seismic to classify facies, estimate properties, and generate type curves; improve placement, forecast accuracy, and recovery.
  • Workover And Artificial Lift Candidate Prioritization: Rank underperforming wells using uplift modeling; recommend workovers, chemical treatments, and artificial lift changes; increase production, reduce failures, and raise return on invested capital.
  • Open Subsurface Data Platform And Governance: Stand up Open Subsurface Data Universe (OSDU) platform; unify well, seismic, production and documents; standardize governance, lineage and access; accelerate analytics reuse and time‑to‑insight.

Transformation

  • Enterprise Value Creation And Turnaround Program: Design and execute cross‑functional EBITDA and cash uplift across manufacturing, remanufacturing, supply chain and field services; deliver COGS, SG&A, working capital and nonproductive time reductions.
  • Zero Based Cost And SG&A Simplification: Apply zero based budgeting to SG&A and indirects; reset service levels and policies; lock in run‑rate savings without impairing safety, quality, or customer experience.
  • Transformation Management Office And Benefits Realization: Stand up a Transformation Management Office with cadence, risk management and dependency tracking; quantify benefits; hardwire KPI dashboards and accountabilities to sustain margin and cash.
  • Carve-Out Separation And TSA Exit Management: Plan and execute carve‑outs; design Separation Management Office, Transitional Service Agreements, Day‑1 readiness, and standalone functions; accelerate TSA exit, reduce stranded cost, protect customer delivery.
  • Digital Adoption At Scale: Drive frontline adoption of analytics, IoT, configure‑price‑quote (CPQ) and ERP workflows; deploy change agents and incentives; convert pilots into sustained OEE, cycle‑time and margin gains.

Innovation

  • Technology Scouting And Landscape Assessment: Systematically scan subsurface, drilling, completions, production, and methane technologies; assess fit, TRL, economics, and integration; prioritize use cases and build adoption roadmaps.
  • Pilot Factory And Rapid Experimentation: Stand up pilot factory with vendor selection, test design, IRR baselines, and exit criteria; compress pilot cycle time; scale proven solutions across assets.
  • Venture Partnerships And Corporate Venture Capital: Define corporate venture capital strategy, deal flow, governance, and JV structures; secure advantaged access to technologies; create real options and strategic optionality.
  • Test Beds And Field Trial Networks: Establish test pads, controlled wells, and digital sandboxes; streamline HSE approvals and data capture; de-risk technology performance; accelerate enterprise-scale deployment.
  • Innovation Portfolio And Funding Governance: Prioritize innovation bets by value, risk, and maturity; set stage-gates and kill criteria; allocate funding and talent; ensure sustained impact and accountability.

Sustainability

  • Methane Emissions Abatement And OGMP 2.0 Compliance: Build methane (CH4) baseline and MRV; deploy LDAR, aerial and continuous monitoring; prioritize abatement; meet OGMP 2.0 targets; cut methane intensity and regulatory risk.
  • Flaring And Venting Elimination Program: Diagnose sources; design gas capture, VRUs, reinjection, power-from-field-gas, and grid electrification; align permits and measurement; lower flaring, venting, and Scope 1 emissions intensity.
  • Water Stewardship And Produced Water Strategy: Build basin water balance; design reuse, recycling, saltwater disposal (SWD) optimization, seismicity risk controls, and leak prevention; cut freshwater withdrawal, trucking emissions, and regulatory exposure.
  • ESG Reporting, Controls And Assurance Readiness: Implement ESG data architecture and controls with audit trails for greenhouse gas (GHG) Protocol, TCFD, and SEC rules; improve accuracy, comparability, and investor confidence.
  • Certified Gas And Low-Carbon Marketing Enablement: Design programs for methane-certified gas (MiQ/EO100) and carbon intensity labeling; align measurement, verification, and contracting; capture price premiums and access to low-emission markets.

Compliance

  • Ethics And Compliance Program And Risk Assessment: Design ethics and compliance program, risk assessment, policies, training, hotline, and investigations; align to U.S. Department of Justice guidance; strengthen culture, controls, and regulator confidence.
  • Anti Bribery Sanctions And Third Party Controls: Implement FCPA and UK Bribery Act controls, OFAC sanctions screening, and risk‑based due diligence for agents; reduce enforcement, corruption, and sanctions breach risk.
  • Lease And Concession Obligations Compliance: Build obligations register for leases, concessions, and production sharing contracts; track rentals, work commitments, reports, flaring permissions, and relinquishments; prevent license lapses, penalties, and disputes.
  • Trade Compliance And Export Controls: Establish export classification, technology transfer and deemed export controls, customs compliance, and restricted party screening; prevent seizures, penalties, and delays for equipment, software, geophysical data.
  • Regulatory Audit Readiness And Response: Prepare for ONRR, BSEE, BOEM, and state audits; build evidence packs, controls testing, remediation plans; cut findings, penalties, and management time lost to audits.

Program & Portfolio Management

  • Enterprise Portfolio Prioritization And Funding Governance: Prioritize drilling, workovers, facilities, ESG and decommissioning using risk‑adjusted NPV, breakevens, and constraints; set funding envelopes, stage‑gates, and kill criteria to maximize value.
  • E&P Program Management Office Setup And Rhythm: Establish E&P PMO with governance, decision rights, integrated master schedules, and cadence; accelerate FID‑to‑first‑oil, improve cross‑discipline coordination, and on‑time delivery.
  • Stage-Gate Value Assurance For Field Developments: Run concept‑select through define and execute gate reviews with technical/economic assurance, readiness checks, and peer assists; de‑risk scope, shorten cycles, and protect returns.
  • Integrated Project Controls And Earned Value: Standardize WBS, schedules, cost codes, change control, and Earned Value Management (EVM); improve forecast accuracy, variance visibility, and on‑budget delivery across well campaigns and brownfield projects.
  • Decommissioning And P&A Program Management: Structure multi‑year plug and abandon portfolios with bundling, contracting, schedule integration, and regulatory interface; lower unit cost, nonproductive time, and Health, Safety and Environment (HSE) risk.

Information Technology

  • ERP And AFE Finance Template For Upstream: Design and deploy SAP S/4HANA upstream template covering AFE, procure-to-pay, maintenance, inventory, and joint venture accounting; improve control, close speed, and cost transparency.
  • Production Data Management And SCADA Integration: Implement PI historian and SCADA integration with event models and data quality controls; enable reliable production surveillance, downtime capture, and regulatory reporting.
  • Hydrocarbon Accounting System Modernization: Select and implement hydrocarbon accounting with allocation engines and entitlement; integrate metering and contracts; improve accuracy, partner settlements, and revenue assurance.
  • Digital Field Operations Platform And Mobility: Deploy mobile field operations for rounds, permits, work orders, and readings with offline sync; raise data quality, compliance, and response time across remote assets.
  • OT Cybersecurity For Production Facilities: Design operational technology security program with segmentation, asset inventory, patching, monitoring, and incident response; reduce cyber risk to industrial control systems (ICS) and production uptime.

Capital Projects

  • FEL And FEED Optimization: Optimize concept select, basis of design, value engineering, and standardization; embed design-to-cost; cut capex, engineering rework, and cycle time; increase NPV and FID confidence.
  • Contracting And Procurement Strategy For Major Projects: Define EPC/EPCM, alliance, or target-cost models; structure bid packages, incentives, and local content; prequalify suppliers; improve price discovery, risk allocation, and schedule certainty.
  • Advanced Work Packaging And Constructability: Implement Advanced Work Packaging, workface planning, constraint removal, and 4D model-linked work packs; lift field productivity, reduce rework, and compress construction duration.
  • Cost And Schedule Risk Analysis And Benchmarking: Run probabilistic cost and schedule risk, reference class benchmarking, and parametric estimating; set contingencies; improve forecast accuracy, approvals, and governance.
  • Commissioning And Startup Readiness: Build systems completion strategy, completions database, punchlist and turnover workflows, spares and training; accelerate startup curve, reduce defects, and achieve nameplate safely.

Exploration & Subsurface

  • Play Fairway And Prospect Maturation: Integrate geology, geochemistry, charge, trap and seal to build play fairways; generate, risk and rank prospects; focus exploration capital and improve discovery rate.
  • Seismic Program Design And Interpretation Excellence: Optimize seismic acquisition and processing (pre-stack, full waveform inversion); deliver high-fidelity imaging and attribute interpretation; delineate traps and sweet spots; reduce subsurface uncertainty and dry holes.
  • Petrophysics And Rock Physics Integration: Calibrate logs, core, and rock physics; derive saturations, facies, porosity, and net pay; tie to seismic; improve volumetrics, fluid contacts, and reservoir quality prediction.
  • Integrated Static And Dynamic Reservoir Modeling: Build 3D static models and dynamic simulations; history match; test depletion and enhanced oil recovery (EOR) scenarios; optimize well count, placement, and recovery; maximize NPV and reserves.
  • Reserves And Resources Assurance Under PRMS: Estimate and classify reserves/resources under Society of Petroleum Engineers Petroleum Resources Management System (SPE‑PRMS); quantify uncertainty; support audits, disclosures, and financing with defensible volumes.

Drilling & Completions

  • Well Design Standardization And Planning Optimization: Standardize casing, mud programs, bottomhole assemblies, hydraulics, and torque‑and‑drag with offset learning; cut nonproductive time, days per well, and cost per foot.
  • Real-Time Operations Center And Parameter Advisory: Stand up real‑time operations with dysfunction detection, parameter roadmaps, and escalation; increase rate of penetration, lower vibration and stick‑slip, and prevent downhole failures.
  • Completions Design And Stimulation Optimization: Optimize stage spacing, cluster design, fluids and proppant, diversion, and pump schedules; maximize stimulated reservoir volume and recovery; lower unit development cost.
  • Well Delivery System And Learning Loop: Establish factory‑style well planning, lookbacks, technical limits, and playbooks; institutionalize after‑action reviews; compress spud‑to‑total‑depth and frac cycle times across pads.
  • Well Integrity And Pressure Control Assurance: Implement barrier standards, cement assurance, pressure testing, blowout preventer and managed pressure drilling programs; reduce integrity incidents, kicks, and sidetracks; strengthen regulator confidence.

Health, Safety & Environment

  • HSE Management System And ISO 45001 Implementation: Design HSEMS aligned to ISO 45001/14001 with policies, risk registers, audits, KPIs; cut TRIR, improve compliance, and leadership visibility.
  • Major Accident Hazard And Process Safety Management: Install bow‑tie analysis, barrier health monitoring, safety critical elements and performance standards; reduce loss‑of‑containment, fires, and serious injury and fatality (SIF) events.
  • Permit To Work, SIMOPS And Control Of Work: Standardize permit to work, isolations, confined space, hot work, and SIMOPS planning; improve barrier integrity, shift handovers, and reduce maintenance and turnaround incidents.
  • Contractor HSE Management And Bridging: Implement contractor prequalification, competency checks, bridging documents, site supervision, and performance scorecards; reduce contractor incidents, interface risk, and rework across drilling, construction, and operations.
  • Emergency Response, Crisis And Spill Management: Build Incident Command System, contingency plans, drills, mutual aid, and spill response; shorten time‑to‑control, minimize environmental impact, and strengthen regulator and community trust.

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Find a consultant in our Upstream E&P Practice

Prefer email? Write to [email protected]

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