CALGARY, CANADA & LONDON, UK, March 26, 2025 – Sproule and ERCE are thrilled to announce a strategic merger, combining two industry-leading companies to form Sproule ERCE. The new company will leverage the strengths of both organizations, enhance capabilities, and create unparalleled solutions in the global energy sector.  

“ERCE is a natural fit with Sproule,” says Sproule’s President and Chief Executive Officer, Jim Chisholm. “The combined geographic footprint covers the globe, with minimal overlap in current regions. There is great alignment in expertise and culture. Still, each brings unique aspects to the combination, allowing a broader and deeper platform to enhance the trusted advisor role that our clients expect. Together, we are better positioned to contribute to an affordable, reliable, and sustainable energy system.” 

The new company will have a significant presence in key global energy hubs, including offices in Calgary (headquarters), Denver, Kuala Lumpur, London, Mexico City, Perth, and The Hague. As a leading energy advisory firm in its core competencies, Sproule ERCE will provide unparalleled expertise.

“This merger is a game-changer for both organizations,” says Christoffer Mylde, Senior Vice President, Corporate Development at Sproule. “By combining our world-class teams, we can deliver comprehensive advisory solutions and insights across an evolving energy value chain, supported by even deeper technical, commercial, and operational expertise. Our combined footprint will also allow us to better assist clients in navigating the complexities of an increasingly global and interconnected energy system.”

CEO of ERCE, Johnny Hull, adds, “This merger reaffirms our commitment to our clients while enhancing our capacity to provide future-focused solutions. Our combined expertise in subsurface analysis, low-carbon solutions, and strategic advisory services ensures we can meet the needs of a diverse and evolving energy system. The scale and strength of our new organization enable us to offer clients an expansive portfolio of services under one roof and with greater global reach.”  

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Leadership Structure

Sproule ERCE will operate under a unified leadership team, drawing on the expertise of both organizations:

• Sproule’s President and Chief Executive Officer (CEO), Jim Chisholm, will continue to serve as President and CEO of Sproule ERCE, ensuring a seamless transition and charting the company’s strategic direction.
• ERCE CEO, Jonathan Hull, will become Executive Vice President (EVP) of Europe, Africa, and Asia Pacific, overseeing the company’s operations in these key regions.
• Rich Wade, Managing Director of Sproule Asset Management, will step into the Chief Operating Officer (COO) role to ensure optimal performance across all operational functions.
• Sproule’s Senior Vice President, Corporate and Business Development, Chris Mylde will assume the position of Chief Financial Officer (CFO), bringing his extensive corporate development expertise to drive corporate and financial strategy.
• Paul Chernik, General Manager of ERCE Evolution, will join as Chief Commercial Officer (CCO), focusing on client relationships and commercial excellence.

The merger has been approved by both sets of shareholders and officially closed, March 26, 2025. Sproule ERCE is committed to ensuring a seamless transition for clients and employees as they begin this new chapter.

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About Sproule

Sproule is a multi-disciplinary advisory firm optimizing decision-making in the energy sector by integrating technical, commercial, and operational expertise. We help clients make informed decisions by improving their understanding of value drivers and risk management for long-term profitability and strategic growth. Sproule’s analysis is among the industry’s most authoritative.

Visit sproule.com for more information.

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About ERCE

Whether it’s energy solutions that enable greater global prosperity or delivering a low-carbon, sustainable future, the answers are found in the ingenuity and experience of our people.

Driven by boundless intellectual curiosity, our in-house team of experts embraces uncertainty and adapts to each evolving challenge. This is why, at ERCE, no solution is seen in isolation.

Each is the accumulation of past experience, and we use this expertise to shape the future. Equiteq Advisors Limited acted as Financial Advisor and Pannone Corporate LLP acted as Legal Advisor to the controlling shareholders of ERC Equipoise on this transaction.

Visit erce.energy for more information.

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Client FAQ: Sproule and ERCE Strategic Merger

1. Why are Sproule and ERCE joining forces?

This merger aligns with the corporate strategy of both firms to enhance scale, expand our global footprint, and strengthen our capabilities across the energy value chain. It provides a larger platform to continue serving clients while benefiting from combined strengths in reserves certification, low-carbon solutions, and advisory services. Together, we will provide a stronger, more integrated offering to clients.

2. What will the new company be called?

The new company will be known as Sproule ERCE, reflecting a true merger and leveraging the strengths of both companies. This brand represents our shared commitment to innovation, excellence, and helping clients navigate the complexities of the evolving energy landscape.

3. How will this impact the services we receive?

Our clients will continue to receive the same high-quality service they have come to expect, with the added benefit of an expanded set of capabilities and global footprint. Our combined expertise in subsurface advisory, carbon management, and integrated energy solutions will allow us to serve you even better.

4. Will my current contacts and relationships change?

No, your existing contacts at Sproule and ERCE will remain the same, ensuring continuity in service and client relationships. Over time, you may have access to additional subject matter experts and resources from the expanded Sproule ERCE team.

5. How will this affect ongoing projects?

All ongoing projects will continue as planned without disruption. We are committed to ensuring a smooth transition, and there will be no changes to project teams, scope, or deliverables.

6. What does this mean for Sproule ERCE’s global presence?

This merger significantly enhances our combined footprint, extending across the Americas, Europe, and Asia Pacific while maintaining a strong global profile and experience base. With an expanded global reach and a more diverse talent pool, we can provide deeper insights and solutions tailored to regional energy markets.

7. How does this merger enhance Sproule ERCE’s expertise?

By combining Sproule’s and ERCE’s strengths, we create an unrivalled platform in core competencies. This allows us to offer more comprehensive solutions that address the increasingly complex and integrated nature of global energy markets.

8. Will ongoing contracts need to be resigned?

No, ongoing contracts will remain valid and must not be re-signed. All existing agreements will continue under the same terms and conditions. If any updates are required in the future, we will communicate them directly with your company contact. If you have any questions, please feel free to reach out.

9. Will there be any changes to billing cycles or payment methods, and should I update my payment details or invoicing information?

No, there will be no changes to billing cycles or payment methods. Your current payment details and invoicing information remain valid. If any changes occur in the long term, we will communicate them directly with your company contact to ensure a smooth transition.

10. Who are the key leaders in the newly merged firm?

Sproule ERCE will operate under a unified leadership team, drawing on the expertise of both organizations:

• Sproule’s President and Chief Executive Officer (CEO), Jim Chisholm, will continue to serve as President and CEO of Sproule ERCE, ensuring a seamless transition and charting the company’s strategic direction.

• ERCE CEO, Jonathan Hull, will become Executive Vice President (EVP) of Europe, Africa, and Asia Pacific, overseeing the company’s operations in these key regions.

• Rich Wade, Managing Director of Sproule Asset Management, will step into the Chief Operating Officer (COO) role to ensure optimal performance across all operational functions.

• Sproule’s Senior Vice President, Corporate and Business Development, Chris Mylde will assume the position of Chief Financial Officer (CFO), bringing his extensive corporate development expertise to drive corporate and financial strategy.

• Paul Chernik, General Manager of ERCE Evolution, will join as Chief Commercial Officer (CCO), focusing on client relationships and commercial excellence.

11. Who should I contact if I have further questions?

If you have any questions or need additional information, please get in touch with your existing Sproule or ERCE contacts. You can also visit our website for updates and details about the integration process.

We are excited about the future of Sproule ERCE and look forward to continuing to support our clients with enhanced capabilities and a truly global platform.