In serving oil and gas companies on their joint ventures, we bring a unique blend of industry-specific deal structuring experience with a deep appreciation for post-close manageability issues. For instance, we regularly work with the CEOs of large incorporated JV OPCOs as well as the non-operating partner asset teams in unincorporated JVs to develop influencing strategies, governance improvement plans, operating model redesigns, and venture agreement restructuring. Our work with existing ventures allows us to better anticipate and address post-close risks within the design and structuring of new ventures.
Water Street Partners has been at the forefront of supporting oil and gas companies on governing their portfolio of joint ventures. Our data shows that the largest upstream companies depend on non-controlled joint ventures for 30-65% of current production, and that these companies hold dozens of material non-operated ventures. Our Standards for JV Portfolio Management Excellence, co-developed with the leading companies in the industry, have become the accepted yardstick for portfolio excellence.
Water Street Partners supports integrated oil companies, national oil companies, and independents around the world in structuring, restructuring, and governing their most important joint ventures. Our work spans upstream, unconventionals, midstream, integrated gas, refining and marketing, and includes joint ventures involving producers, governments, service companies, and technology firms. Over the last five years, we have served four of the five largest integrated oil companies in the world, more than a dozen NOCs, and a similar number of independents. Across the industry, we have worked on JVs in Australia, China, the Middle East, Africa, Central Asia, Europe, the U.S, Canada, and South America. We have advised on structuring or restructuring 6 of the ten largest energy joint ventures in the world, totaling more than $200B in value.
Our Client Work in the Oil & Gas Industry, by Region (2008-2016):