Supporting the Financial, Legal and Insurance Industries
TSB assists customer in avoiding under-reporting of Asset Retirement Obligations (AROs) and prevents future financial disruption.
Problem |
Solutions |
Results |
|---|---|---|
| Decommissioning estimate amounts were being questioned on accuracy, both internally and during a recent audit. | TSB study uncovered a considerable underestimation of decommissioning costs. | Updated and accurate snapshot of decommissioning liability exposure, providing crucial cost verification for company’s balance sheet. Accounting Firm and their customer both satisfied. |
Hope the new year finds you well!
TSB was recently contracted by a Big Four Firm to perform a third-party verification of their customer’s decommissioning liabilities. During the course of our research, we found the decommissioning costs were highly underestimated, partially due to outdated evaluation methodologies.
TSB was able to provide a cost study based on current, regulator-accepted methodologies, current regional resource rates, and safety considerations, using our proprietary Platform Abandonment Estimating System (PAES®).
The Firm and their customer were pleased with the results and are both confident that they have an accurate snapshot of their decommissioning liability exposure.
TSB’s support of various financial, legal and insurance industries goes hand-in-hand with our specialization of producing AROs for our end-user clients on a worldwide basis.
This is the first in our “Supporting the Financial, Legal and Insurance Industries” series.
Look forward to additional emails that cover the following topics:
- ARO Estimates and Consulting Services (offshore and onshore facilities)
- Late Life Asset Management Consulting and Bonding Assistance
- Acquisition / Merger and Divestiture Support
- Litigation, Expert Witness and Insurance Claims support
We appreciate you taking the time to read. I hope you have found this email informative and intriguing.
Sincerely,
Jay Boudoin
Director of Client Relations
TSB Offshore, Inc.
346-249-8736
jboudoin@tsboffshore.com
