Oil and Gas Data Room Checklist: What Goes in (42 Docs, 2026)
Co-founder and CEO at Peony. I built the data room platform with a background in document security, file systems, and AI. Founded Peony in 2021 in San Francisco.
Last updated: May 2026
Quick answer: A complete oil and gas data room contains 42 documents across 12 canonical folders — Corporate, Reserves & Resources, Production & Operations, Geology & Geophysics, Commercial Agreements, Environmental & Regulatory, HSE & Safety, Land & Lease, Tax & Royalty, Financial & Forecasting, Insurance & Risk, and Audit & Litigation. File mass progresses from about 5 GB at FEED entry to 80 to 200 GB at FID (the FID cliff), with counterparty count surging from 1 to 3 to 12 to 25 active diligence counterparties. Documents gate across the 4-tier farm-out access model — operator (T1), non-operating JV partner (T2), state partner / NOC (T3), and project finance lender (T4) — with bilateral state-partner side letters hard-walled from non-operator JV view to maintain JOA partition integrity.
I run Peony, a data room platform. I built this checklist from a year of fielding the same question from corp-dev teams preparing a divestiture data room from scratch, M&A counsel auditing a draft VDR for completeness before launch, sell-side advisors mapping doc inventory against the AIEN model framework, and reserves auditors stress-testing the audit-trail spine before a Tier 4 lender drops in. The question they all ask before they upload anything: what documents actually belong in here, and how do I know I'm not missing one that the binding-bid round will surface as a gap?
This post is the document-list sibling in the oil and gas data room cluster — where the platform comparison anchor names the ten platforms and frames the FID cliff, this post catalogs 42 documents across 12 canonical folders organized across three axes: deal stage (FEED → FID → bid → close), document category (the 12 folders), and counterparty access tier (the 4-tier farm-out access model).
TL;DR — an oil & gas data room contains 42 documents across 12 canonical folders, scaling from ~5 GB at FEED entry to 80-200+ GB at FID, with 4-tier farm-out access gating who sees what:
- 42 documents across 12 canonical folders — the complete oil-gas vertical document checklist.
- File mass surges 16x to 40x at FID — from about 5 GB at FEED entry to 80 to 200 GB at FID, driven by full pre-stack 3D SEG-Y cubes (120 GB to 5.8 TB per wide-azimuth survey per SEG Wiki Open Data and SEG-Y Rev 2.0 specification, March 2017) plus EPC bid packs at 80 to 150 GB of structured engineering documentation (synthesized from public EPC industry guidance).
- Counterparty count surges from 1 to 3 at FEED to 12 to 25 at FID — operator + JOA partners + NOC + ECA + multilateral lenders + commercial banks + EPC bidders (synthesized from Hunton AK, Willkie Farr, White & Case, and Latham project-finance practice descriptions, 2025).
- Reserves disclosure spans 3 standards — SPE-PRMS 2018 v1.03 (industry voluntary; v1.03 published November 2022 per SPE.org), SEC Modernization of Oil and Gas Reporting (effective for Form 10-K years ending on or after December 31, 2009), and Canadian NI 51-101 (CSA Staff Notice 51-327 (Revised Guidance on Oil and Gas Disclosure)).
- The 4-tier farm-out access model gates documents — bilateral state-partner side letters (T1 + T3 only), JOA + AFE (T1 + T2 only), reserves audits (T1 + T2 + T4 with state-partner carve-outs).
- 5 deal archetypes ground the checklist — Aethon Energy Haynesville (upstream divestiture, Mitsubishi $5.2B equity investment January 16, 2026 per Bloomberg), NextDecade Rio Grande LNG Train 5 (FID October 2025, $6.7B financing per Reuters), ONEOK / DT Midstream pipelines ($1.2B December 31, 2024 per ONEOK IR), Twinza Pasca A FEED entry (PSC carve-out archetype, public market context per Business Advantage PNG / OGJ / Argus 2025), Venture Global Plaquemines LNG ($18B 2025 FERC expansion filing per Rigzone).
- Peony Data Room at $52/admin/month ships NDA gates, dynamic watermarks, screenshot protection, auto-indexing, page-level analytics, and visitor groups at flat per-admin pricing with no per-file cap — see the head-on platform comparison for cost math against Datasite, Intralinks, and Drooms NXG.
What documents belong in an oil and gas data room?
An oil and gas data room contains 42 documents across 12 canonical folders that span the upstream / midstream / LNG project lifecycle. The 12 folders are: (1) Corporate, (2) Reserves & Resources, (3) Production & Operations, (4) Geology & Geophysics, (5) Commercial Agreements, (6) Environmental & Regulatory, (7) HSE & Safety, (8) Land & Lease, (9) Tax & Royalty, (10) Financial & Forecasting, (11) Insurance & Risk, and (12) Audit & Litigation. The 42-document count deliberately mirrors the 42-document threshold I use for independent sponsor deal data rooms — checklist-friendly, comprehensive without becoming overwhelming, and vertical-translated to the upstream-energy stack.
The five categories that make oil-gas data rooms structurally different from generic M&A data rooms and the 174-document due diligence checklist are:
- Reserves disclosure — SPE-PRMS 2018 v1.03 audited reserves report at 1P/2P/3P (Proved, Probable, Possible classifications); SEC 10-K reserves disclosure at PV-10 12-month average price; Canadian NI 51-101 Form 51-101F1 backup. None of these exist in generic M&A checklists.
- Commercial agreements — full PSC text plus amendments, JOA with COPAS accounting procedure, AFE archive with voting trail, FOB / DES LNG Sale & Purchase Agreements, pre-emption rights schedule, and bilateral state-partner side letters. Generic M&A checklists cover material contracts but not PSC / JOA / AFE.
- Regulatory filings — FERC §7(c) certificates and §3 LNG export authorizations; NOPSEMA WOMP, Environment Plan, and Safety Case (Australia); OPRED PETS submissions, OPEP, and PON1 (UK); BSEE decommissioning programs (US offshore). Each jurisdiction adds 5 to 15 doc types to the canonical 42.
- Geological / engineering raw data — pre-stack and post-stack 3D SEG-Y seismic cubes, full LAS well-log archives, reservoir simulation models from Eclipse or CMG, and EPC bid packs with full P&ID set and CAD / BIM exports. The single largest mass in any oil-gas data room.
- AFE / work-program lifecycle documents — multi-year AFE archive with voting trail under the JOA's COPAS accounting procedure. Recurring across multi-year JOA windows, not just transactional.
Standard M&A checklists were built for corporate M&A — they list 174 documents that any buyer requests in any deal (see the complete due diligence checklist for the full M&A baseline) but do not cover the oil-gas-specific stack. This 42-document list is the oil-gas vertical overlay you need on top of the generic 174-document M&A baseline — not a replacement.
Why does the FID cliff change the checklist?
The FID cliff is the proprietary frame I use to diagnose oil-gas data room composition: the point in an upstream or LNG project's lifecycle where (a) seismic plus reservoir data balloons from gigabytes to multiple terabytes, (b) counterparty count jumps from 2 to 3 FEED partners to 12 to 25+ active diligence parties, and (c) document types diverge from "M&A standard" into PSC + JOA + AFE + SPE-PRMS + NI 51-101 + SEC + FERC CEII + NOPSEMA / OPRED / BSEE filings. The checklist changes at the FID cliff because the document mass progression is non-linear — a 16x to 40x file-mass surge over a 6 to 12 month window driven by three specific document classes.
The three FID cliff drivers, with published benchmarks:
- Pre-stack 3D seismic SEG-Y datasets range from 120 GB to 5.8 TB per wide-azimuth towed-streamer survey (SEG Wiki Open Data; SEG-Y Rev 2.0 specification, March 2017). The Tiber dataset is representative of full-azimuth surveys at this scale. Post-stack 3D cubes are smaller — F3 Netherlands public dataset is approximately 1 GB.
- EPC bid packs at FID routinely exceed 100 GB of structured engineering documentation (synthesized from public EPC industry guidance) — full P&ID set, isometrics, MTOs, EDS package, geotechnical data, CAD model exports for processing equipment and skid packages, BIM models for LNG terminals, refinery expansions, and gas processing facility builds.
- Reservoir engineering deliverables — Eclipse / CMG simulation models stay under 10,000 grid blocks for economic limit per AAPG Wiki, but PVT reports, fluid samples, history-match files, and
.UNRST/.EGRIDexports run tens of MB to multiple GB per scenario.
The Oil-Gas Document Mass Curve (the proprietary frame for stage-by-stage mass progression):
| Stage | Total mass | Counterparty count | What's in the room |
|---|---|---|---|
| FEED entry | about 5 GB | 1 to 3 | Basin maps, prospect summary deck, concept select report, indicative economics |
| FEED exit / pre-FID | about 10 to 30 GB | 3 to 5 | Post-stack seismic cubes, well-log LAS files for nearby wells, preliminary reservoir model summary, draft PSC and JOA, preliminary EIA |
| FID (the cliff) | 80 to 200 GB | 12 to 25 | Full pre-stack 3D SEG-Y, full LAS archives, reservoir models, full PSC plus JOA plus AFE, FOB / DES LNG SPAs, full P&ID, EPC LSTK bids, SPE-PRMS audited reserves, NI 51-101 backup, FERC / NOPSEMA / OPRED / BSEE filings |
| Bid stage | Subset of FID | Counterparty-specific | Watermarked subset per tier; screenshot blocking non-negotiable |
| Close / archive | Indefinite | Lifecycle | ECA disbursement-condition audit + post-close JOA reporting |
Why the FID cliff matters for the checklist: at FEED entry, missing a document or two is recoverable — the room is 5 GB, 1 to 3 counterparties, and the operator has weeks to fill gaps. At FID, missing a document means 12 to 25 sophisticated counterparties (commercial banks + ECAs + multilaterals + EPC bidders + non-operating JV partners) all submit Q&A waves on the same gap simultaneously, and the gap typically extends the FID-to-FC window by weeks. Building the full 42-document checklist before the FID cliff is the single most controllable variable in compressing the FID timeline.
For the head-on platform comparison covering single-file cap, NDA gate, dynamic watermark, and per-page billing across Datasite, Intralinks, Drooms NXG, and Peony Business, see the oil and gas data room platform guide. For the file-size mechanics deep-dive across mining, biotech, AEC, and oil-gas, see the horizontal sibling Tested: 10 Data Rooms for Large Files (With NDA Gates).
What's the 42-document checklist organized by?
The 42-document checklist is organized across three axes simultaneously: (1) deal stage — FEED → FID → bid → close (the file-mass progression), (2) document category — the 12 canonical folders (Corporate / Reserves & Resources / Production & Operations / Geology & Geophysics / Commercial Agreements / Environmental & Regulatory / HSE & Safety / Land & Lease / Tax & Royalty / Financial & Forecasting / Insurance & Risk / Audit & Litigation), and (3) counterparty access tier — the 4-tier farm-out access model (operator T1 / non-operating JV partner T2 / state partner T3 / project finance lender T4). Every document carries a stage requirement (when does it ship), a folder placement (where it lives in the canonical 12-folder structure), and a per-tier access rule (who sees it).
The 12 canonical folder structure (with sub-folder breakdown):
01_Corporate
/Articles_Bylaws
/Board_Minutes
/Cap_Table
/Subsidiaries
02_Reserves_and_Resources
/SPE-PRMS_Audit
/NI_51-101_Form_51-101F1
/SEC_10-K_Reserves_Disclosure
/PDP_Decline_Curves
/PUD_Probable_Possible
/Reserves_Auditor_Letters
03_Production_and_Operations
/Historical_Production
/Well_by_Well_Opex_Capex
/Operations_Manuals
/HSE_Statistics
/Drone_ROV_Footage
04_Geology_and_Geophysics
/SEG-Y_Pre_Stack
/SEG-Y_Post_Stack
/LAS_Well_Logs
/Reservoir_Models_Eclipse_CMG
/Petrophysical_Interpretations
/Prospect_Maps
05_Commercial_Agreements
/PSC_Text_Amendments
/JOA_COPAS
/AFE_Archive
/Offtake_FOB_DES_SPAs
/Pre_Emption_Rights
/Bilateral_Side_Letters [GATED — T1+T3 only]
06_Environmental_and_Regulatory
/FERC_Filings [if US]
/NOPSEMA [if Australia]
/OPRED [if UK]
/BSEE [if US offshore]
/EPA_NEPA [if US onshore]
/CER [if Canada]
/Environmental_Impact_Assessments
/EPC_Bid_Packs
07_HSE_and_Safety
/Safety_Case
/Incident_Registers
/HAZOP_HAZID_Outputs
/Emergency_Response_Plans
/Insurance_Claims_History
08_Land_and_Lease
/Lease_Abstracts
/Royalty_Interests
/Mineral_Interest_Archive
/Surface_Rights
/ROW_Easements [primary for midstream]
09_Tax_and_Royalty
/Royalty_Schedules
/Severance_Tax_Filings
/Corporate_Tax_Provisions
/Transfer_Pricing [if international]
/State_Local_Tax
10_Financial_and_Forecasting
/Project_Finance_Model
/Sensitivity_Matrix
/Tax_Model
/ECA_Financing_Term_Sheets
/Equity_Deck
11_Insurance_and_Risk
/OEE_Operators_Extra_Expense
/Control_of_Well
/General_Liability
/Marine_Cargo
/Business_Interruption
12_Audit_and_Litigation
/Environmental_Remediation_History
/Decommissioning_Bond_Status
/Pending_Litigation
/Regulatory_Audit_Correspondence
/Historical_Consents_Settlements
Below, the 42 documents broken out by stage with per-document definitions, owner-personas, file-size envelopes, security tiers, and 4-tier access mapping.
What documents ship at FEED stage?
About 8 to 12 documents ship at FEED stage in approximately 5 GB of total mass with 1 to 3 active counterparties. FEED-stage documents are concept-level — basin maps, prospect summary, indicative economics, draft Heads of Agreement, and corporate structure. The room is small enough that flat permissions are workable, and security tiers are typically lobby (open teaser) or CA-gated (confidentiality agreement signed online). The FEED-stage checklist is the foundation that every subsequent stage builds on; gaps here propagate forward and become FID cliff problems.
The FEED-stage core documents (drawn from the 12 folders, partial coverage):
Folder 1: Corporate
- Corporate structure & ownership tree | Parent + subsidiary tree showing operator + JV partners + state-shareholder structure | All counterparties | 10 to 50 MB (PDF deck) | Lobby | T1 / T2 / T3 / T4
- Articles, bylaws, organizational documents | Foundational legal docs for operator entity | All counterparties | 50 to 200 MB | Lobby | T1 / T2 / T3 / T4
Folder 4: Geology & Geophysics 3. Prospect maps + petrophysical interpretations (preliminary) | Interpreted well logs with preliminary petrophysical analysis plus prospect probability maps | Buy-side technical | 200 MB to 1 GB | NDA | T1 / T2
Folder 5: Commercial Agreements 4. Heads of Agreement (HoA) + draft term sheet | Indicative commercial terms for the FEED engagement | All counterparties | 5 to 20 MB | CA | T1 / T2 / T3
Folder 10: Financial & Forecasting 5. Indicative economics + concept select report | Preliminary DCF and concept-level engineering economics | Operator + lead lender | 100 to 500 MB | NDA | T1 / T2 / T4
The FEED-stage room is small enough that an operator running a single FEED-partner relationship can manage it with flat NDA gating; the document-mass curve tells you when to add tier complexity. Most operators do not need 4-tier access at FEED — they need it at the FID cliff.
What documents ship at FID stage?
Approximately 25 to 30 documents ship at FID stage in 80 to 200 GB of total mass with 12 to 25 active diligence counterparties — the FID cliff. FID-stage documents are the diligence-grade versions: full pre-stack 3D SEG-Y cubes, full LAS well-log archives, full PSC plus JOA plus AFE archive, full P&ID set, full reserves audit at 1P/2P/3P under SPE-PRMS, and the full ECA financing pack. Security tiers shift to NDA-gated by default with screenshot blocking on every page of every reserves document and dynamic watermark stamping per viewer identity.
The FID-stage core documents (drawn from the 12 folders, full coverage):
Folder 1: Corporate 6. Board minutes (last 3 to 5 years) | Material decision record for transactions, AFE approvals, work-program approvals | Buy-side counterparties | 100 to 500 MB | NDA | T1 / T2 (with carve-outs) 7. Cap table + ownership history | Equity ownership of operator entity, dilution events | Buy-side counterparties | 5 to 20 MB | CA | T1 / T2
Folder 2: Reserves & Resources 8. SPE-PRMS 2018 v1.03 audited reserves report (1P/2P/3P) | Industry-standard reserves audit at Proved, Probable, Possible classifications. The v1.03 revision was published November 2022 with errata first appearing in v1.02 August 2022 per SPE.org. | Operator + non-operator partners + lender counsel | 100 to 500 MB | NDA + screenshot block + dynamic watermark | T1 / T2 / T4 9. NI 51-101 Form 51-101F1 backup (Canadian issuers only) | CSA-mandated reserves disclosure backup. Current rules under CSA Staff Notice 51-327 (Revised Guidance on Oil and Gas Disclosure). | Canadian operator + Canadian regulator review + lender counsel | 50 to 300 MB | NDA + screenshot block + dynamic watermark | T1 / T2 / T4 10. SEC Form 10-K reserves disclosure (US-listed issuers) | SEC Modernization of Oil and Gas Reporting final rule effective for Form 10-K years ending on or after December 31, 2009 per SEC.gov. PV-10 calculated using 12-month average price. | US-listed operator + buy-side analyst + lender counsel | 20 to 100 MB | NDA | T1 / T2 / T4 11. PDP / PUD / Probable / Possible decline curves | Well-by-well production decline curves at PDP, PUD, Probable, Possible reserve classifications. The single most leak-sensitive document in upstream — an unwatermarked screenshot of one PDP curve can shift bid prices in a contested farm-out. | Reserves engineer + buy-side technical + lender counsel | 200 MB to 2 GB | Bid-stage watermark + screenshot block (non-negotiable) | T1 / T2 (T4 summary only) 12. Reserves auditor letter (DeGolyer, NSAI, Ryder Scott, Sproule, GLJ) | Independent third-party reserves audit certifying 1P/2P/3P classifications under SPE-PRMS or jurisdictional standard | All counterparties | 10 to 50 MB | NDA | T1 / T2 / T4
Folder 3: Production & Operations 13. Historical production by well (monthly, 5 to 10 years) | Per-well monthly oil / gas / water / condensate production history | Buy-side technical + reserves engineer | 1 to 5 GB (Excel + database export) | NDA | T1 / T2 (T4 summary) 14. Well-by-well opex/capex archive | Operating + capital expenditure per well, often hundreds to thousands of wells in mature basins | Buy-side technical + JOA partners | 500 MB to 5 GB | NDA | T1 / T2 15. HSE statistics (TRIR, DART, LTI rates) | Total Recordable Incident Rate, Days Away/Restricted/Transferred, Lost-Time Injury rates | Lender counsel + buy-side ESG | 50 to 200 MB | NDA | T1 / T2 / T4
Folder 4: Geology & Geophysics 16. Pre-stack 3D SEG-Y seismic cubes | Raw pre-stack 3D seismic data — 120 GB to 5.8 TB per wide-azimuth towed-streamer survey per SEG Wiki Open Data and SEG-Y Rev 2.0 specification, March 2017. Largest single-file mass in any oil-gas data room. | Reserves engineer + buy-side technical + JOA partners | 120 GB to 5.8 TB | NDA + bid-stage watermark | T1 / T2 (partial) 17. Post-stack 3D SEG-Y seismic | Post-stack interpreted seismic cubes — typically 1 to 10 GB each (F3 Netherlands public dataset is approximately 1 GB per SEG Wiki) | Reserves engineer + buy-side technical | 1 to 10 GB each | NDA | T1 / T2 18. Full LAS well-log archive | Log ASCII Standard format well logs across all wells in package; full archive often 10 to 50 GB across hundreds of wells | Reserves engineer + buy-side technical | 10 to 50 GB | NDA | T1 / T2 19. Reservoir simulation models (Eclipse / CMG) | .UNRST / .EGRID / .SMSPEC exports from Eclipse or CMG; per AAPG Wiki, models stay under 10,000 grid blocks for economic limit but full PVT, fluid samples, and history-match files run tens of MB to multiple GB per scenario | Reserves engineer + technical advisor | 1 to 10 GB per scenario | NDA + watermark | T1 / T2
Folder 5: Commercial Agreements 20. Production Sharing Contract (PSC) full text + amendments | The host-government PSC governing license terms, royalties, profit-oil splits, cost recovery, ring-fencing. Often hundreds of pages with many amendments. | All counterparties (operator + JV partners + state + lender) | 50 to 500 MB | NDA | T1 / T2 / T3 / T4 21. Joint Operating Agreement (JOA) with COPAS accounting procedure | Operator-non-operator agreement governing AFE approvals, carry / non-consent provisions, audit rights, default mechanics. COPAS is the Council of Petroleum Accountants Societies standard accounting procedure. | Operator + non-operator JV partners | 50 to 200 MB | NDA | T1 / T2 only (NOT T3 / T4) 22. AFE (Authorization for Expenditure) archive + voting trail | Per Enverus and Eagle River Energy Advisors guidance, AFE workflow follows operator-distribute → non-operator-review → approve / contest / "go non-consent." Multi-year voting record. | JOA partners only | 200 MB to 2 GB | NDA | T1 / T2 only 23. FOB / DES LNG Sale & Purchase Agreements | Free On Board / Delivered Ex-Ship LNG offtake contracts with major buyers (utilities, traders, NOCs) | LNG project finance lender + buy-side | 50 to 200 MB | NDA + bid-stage watermark | T1 / T2 / T4 24. Pre-emption rights schedule | Most farm-outs carry pre-emption rights as a common feature (Ashurst, "Navigating pre-emption rights in oil and gas transactions") | All counterparties | 5 to 20 MB | NDA | T1 / T2 / T3 / T4 25. Bilateral state-partner side letters [GATED] | PSC carve-outs for confidentiality between operator and state-shareholder. Must be gated FROM non-operator JV bidder view to maintain JOA partition integrity. | Operator + state partner only | 10 to 50 MB | NDA + restricted access | T1 / T3 ONLY (NOT T2 / T4)
Folder 6: Environmental & Regulatory 26. FERC §7(c) certificate filings (US interstate pipelines) | Federal Energy Regulatory Commission certificates of public convenience and necessity for interstate natural gas pipelines under the Natural Gas Act | Midstream buy-side + lender counsel + regulatory counsel | 100 to 500 MB | NDA | T1 / T2 / T4 27. FERC §3 LNG export authorizations | FERC siting authority + DOE export authorization for LNG export terminals | LNG project finance + buy-side | 50 to 200 MB | NDA | T1 / T2 / T4 28. CEII-flagged engineering (Critical Energy/Electric Infrastructure Information) | FERC privileged-treatment rules require CEII tagging on engineering and security data — pipeline route maps, flow diagrams, Exhibits G, G-1, G-II | Midstream buy-side + lender counsel | 200 MB to 2 GB | NDA + restricted access + watermark | T1 / T2 (need-to-know) / T4 29. NOPSEMA WOMP / Environment Plan / Safety Case (Australia offshore) | National Offshore Petroleum Safety and Environmental Management Authority filings — Well Operations Management Plan, Environment Plan, Safety Case | Operator + Australian regulator + buy-side | 100 to 500 MB | NDA | T1 / T2 / T4 30. OPRED PETS / OPEP / PON1 (UK offshore) | Offshore Petroleum Regulator for Environment & Decommissioning filings — PETS submissions, Oil Pollution Emergency Plan, PON1 release reports. NSTA (North Sea Transition Authority) handles licensing and decommissioning since 2022; OPRED handles environmental. | UK operator + regulator + buy-side | 100 to 500 MB | NDA | T1 / T2 / T4 31. BSEE decommissioning programs (US offshore) | Bureau of Safety and Environmental Enforcement; 30 CFR 250 Subpart Q decommissioning bonds + plug-and-abandonment plans | US offshore operator + regulator + lender | 100 to 500 MB | NDA | T1 / T2 / T4 32. EPC bid packs (full P&ID, isometrics, MTOs, CAD/BIM) | Engineering, Procurement, Construction bid packs at FID — routinely exceeds 100 GB structured engineering documentation (synthesized from public EPC industry guidance). Includes full P&ID set, isometrics, MTOs, EDS package, geotechnical data, CAD model exports (SolidWorks, AutoCAD, CATIA) for skids, BIM exports (Revit, Navisworks, IFC) for LNG terminals. | Operator + EPC contractors + lender technical advisor | 80 to 150 GB | NDA + bid-stage watermark | T1 / T2 / T4 33. Environmental Impact Assessment (EIA) + supporting studies | Baseline studies, impact assessments, mitigation plans. Jurisdictional varies — NEPA US; EIA Directive EU; Environmental Authority approval AU. | All counterparties | 200 MB to 1 GB | NDA | T1 / T2 / T3 / T4
Folder 7: HSE & Safety 34. Incident registers + HAZOP/HAZID outputs | Recordable incidents, hazard operability studies, hazard identification studies | Lender counsel + buy-side technical | 50 to 500 MB | NDA | T1 / T2 / T4 35. Emergency response plans + insurance claims history | Oil spill response plans, well-blowout contingency, prior insurance claims | Lender counsel + insurance review | 100 MB to 1 GB | NDA | T1 / T2 / T4
Folder 8: Land & Lease 36. Lease abstracts + royalty interests | Per-lease abstracts showing operator's working interest, NRI, royalty obligations | Buy-side technical + landman | 500 MB to 5 GB | NDA | T1 / T2 37. ROW (right-of-way) easement archive [primary for midstream] | Hundreds to thousands of individual lease / permit files. Defining doc-type for midstream pipeline acquisitions. Single largest folder by file count. | Midstream buy-side + lender counsel | 1 to 10 GB | NDA | T1 / T2 / T4
Folder 9: Tax & Royalty 38. Severance tax filings + state/local tax compliance | Per-jurisdiction severance taxes, state production taxes | Tax DD team + buy-side | 200 MB to 1 GB | NDA | T1 / T2
Folder 10: Financial & Forecasting 39. Project finance model + sensitivity matrix | DCF model with sensitivity analysis on price decks, decline curves, opex / capex assumptions | Lender counsel + buy-side analyst | 50 to 200 MB (Excel + supporting PDFs) | NDA + bid-stage watermark | T1 / T2 / T4 40. ECA / multilateral financing term sheets + commitment letters | Export Credit Agency (JBIC, KEXIM, US EXIM, UKEF) + multilateral (World Bank, IFC, EIB, EBRD) commitment documents | LNG / upstream lender counterparties | 100 to 500 MB | NDA | T1 / T2 / T4
Folder 11: Insurance & Risk 41. OEE / control of well + insurance policies | Operators Extra Expense, Control of Well, GL, marine cargo, business interruption | Insurance review + lender counsel | 50 to 200 MB | NDA | T1 / T2 / T4
Folder 12: Audit & Litigation 42. Environmental remediation history + pending litigation registers | Historical remediation events, decommissioning bond status, pending litigation | Lender counsel + buy-side legal | 100 MB to 1 GB | NDA | T1 / T2 / T4
That completes the 42-document checklist organized by canonical folder. Total: 42 documents across 12 folders, 80 to 200 GB at the FID cliff, 12 to 25 active diligence counterparties.
What documents ship at bid stage?
Approximately 10 to 12 documents shift to bid-stage gating — a counterparty-specific subset of the FID room with watermarking applied per viewer per page. Bid-stage documents are not new documents; they are the FID-stage documents with stricter security tiers and counterparty-specific watermarks. The bid-stage gating is the difference between the diligence room (where 12 to 25 counterparties review the same documents) and the binding-bid room (where each Tier 1 IOC bidder sees a watermarked version that traces back to that specific bidder if leaked).
The bid-stage gating shift, with security tier change:
| FID-stage document | Bid-stage shift | Why |
|---|---|---|
| PDP / PUD decline curves | NDA + screenshot block + counterparty-specific watermark per page | Single most leak-sensitive doc; unwatermarked screenshot can shift bid prices |
| EPC LSTK bid responses | NDA + counterparty-specific watermark; bid responses gated to operator + lender technical advisor only | EPC bidders cannot see competitor bid responses |
| FOB / DES LNG SPAs (drafts) | NDA + counterparty-specific watermark; SPA drafts gated to lender + named offtaker only | Offtake price visibility is bid-sensitive |
| Project finance model | NDA + counterparty-specific watermark; sensitivity matrix gated to lender counsel only | Model exposes deal economics and downside scenarios |
| Bilateral state-partner side letters | NDA + restricted access; T1 + T3 only, hard-walled from T2 + T4 | PSC carve-outs cannot leak to non-operator JV bidder view |
| Drone / ROV inspection footage | No-download streaming with dynamic watermark on every frame | Visual integrity data — single leaked frame can compromise asset valuation |
Drone, ROV, and pipeline pigging inspection footage at bid stage is the single most underrated security item: well-pad drone footage, pipeline ROW corridors, and offshore-platform ROV subsea footage are typically uploaded as multi-GB video files that — if downloadable — leave persistent local copies on counterparty machines after the deal closes or fails. Peony's video data room controls (no-download streaming, dynamic watermark on every frame, audit log per viewer) gate this access without blocking counterparty review.
The seismic-data NDA pattern (4-tier progressive disclosure carried from anchor):
- Lobby tier — open teaser, no NDA. Basin map, gross production summary, headline reserves estimate.
- CA-gated tier — confidentiality agreement (e-signed online). Technical teaser, geological summary, resource classification.
- NDA-gated tier — full counterparty-specific NDA. Reserves engineer notes, full SPE-PRMS audit, NI 51-101 backup, PSC / JOA text. Dynamic watermarks ON BY DEFAULT.
- Bid-stage tier — counterparty-specific watermark per document, screenshot blocking non-negotiable. Used during binding bid window.
For the head-on platform comparison covering screenshot protection across Datasite, Intralinks, Drooms NXG, and Peony Business — including which platforms ship dynamic watermarks tied to viewer identity by default versus paywall the feature at enterprise tier — see the oil and gas data room platform guide.
What documents ship at close stage?
Approximately 5 to 8 documents ship at close stage — definitive agreement riders, regulatory filing closing schedules, and the audit-trail artifacts that satisfy ECA disbursement-condition documentation under Equator Principles or ECA covenants. Close-stage documents are typically additive (preserved alongside the FID-stage room rather than replacing it) and include the executed PSC amendments or assignment agreements, FERC §7(c) approval orders for midstream closings, NSTA decommissioning security final approvals for UKCS asset transfers, and the full PDF audit trail of every NDA signature, page view, screenshot block attempt, and watermark version across the entire FID-to-close window.
The close-stage core documents:
- Executed PSC amendments / JOA assignment agreements | Final binding versions of the commercial agreements that transferred or amended at close | All counterparties | 50 to 200 MB | NDA | T1 / T2 / T3 / T4
- Regulatory closing approvals (FERC §7(c) certificates / NSTA decommissioning approvals / OPRED amendments / BSEE bond transfers) | Final regulatory orders required for close to fund | Buy-side counsel + regulator | 100 to 500 MB | NDA | T1 / T2 / T4
- ECA / multilateral disbursement-condition documentation | The full audit trail satisfying lender disbursement conditions under Equator Principles or ECA covenants | Lender counsel | 50 to 200 MB | NDA | T1 / T4
- Closing payment schedule + funds flow memo | Source-and-uses for the close, escrow funding, working capital adjustments | Operator + lender + buy-side counsel | 5 to 20 MB | NDA | T1 / T2 / T4
- NDA signature record + watermark version log + page view audit trail | Exportable PDF audit of every counterparty interaction across the FID-to-close window — the artifact lender counsel needs to satisfy disbursement-condition documentation | Lender counsel | 50 to 200 MB | NDA | T1 / T4
The close-stage data room is preserved indefinitely after close because (a) ECA / multilateral disbursement-condition audits can extend years past close, (b) post-close JOA reporting becomes a recurring lifecycle data room (see oil and gas joint venture data room for the recurring-room workflow), and (c) tax authority audits of PSC cost recovery or transfer pricing can extend a decade or more past close. Peony Data Room at $52 per admin per month is structurally suited to this preservation horizon because the unlimited rooms and flat per-admin pricing model fits multi-year archive retention without per-project re-onboarding.
How does the 4-tier farm-out access model gate documents?
The 4-tier farm-out access model gates documents by mapping each of the 42 documents to one of four counterparty access tiers — operator (T1), non-operating JV partner (T2), state partner / NOC (T3), and project finance lender (T4). The defining gating rule is that JOA partners (T2) get JOA-driven scope including their own AFE schedules but NOT the bilateral state-partner side letters under the PSC, and state partner (T3) gets PSC carve-out documentation but NOT operator-only commercial side letters or non-operator-only JOA mechanics. Properly gated 4-tier access is the single most operationally critical configuration in the FID-stage data room — because misconfigured permissions break JOA partition integrity and can stall the FID-to-FC window by weeks.
The per-document access-tier matrix (the 4-tier farm-out access model in tabular form):
| Document type | Operator T1 | Non-op JV T2 | State partner T3 | Lender T4 |
|---|---|---|---|---|
| Corporate structure | Full | Full | Full | Full |
| Board minutes | Full | Material-only | Material-only | Material-only |
| SPE-PRMS audit | Full | Full | Carve-out | Full (lender counsel) |
| NI 51-101 backup | Full | Full | Carve-out | Full (lender counsel) |
| SEC 10-K reserves | Public | Public | Public | Public |
| PDP decline curves | Full | Full | Carve-out | Summary only |
| Production by well | Full | Full | JOA scope | Summary |
| Drone / ROV footage | Full | Full | Operations only | Operations only |
| Pre-stack SEG-Y | Full | Full | None (carve-out) | None |
| LAS well-logs | Full | Full | None (carve-out) | Summary |
| Reservoir models | Full | Full | None | None |
| PSC text | Full | Full | Full | Full |
| JOA + COPAS | Full | Full | None (PSC carve-out) | None |
| AFE archive | Full | JOA partners only | None | None |
| FOB / DES LNG SPAs | Full | Full | None | Full |
| Bilateral side letters | Full | None (gated) | Full | None |
| FERC filings | Full | Full | None | Full |
| CEII engineering | Full | Restricted (need-to-know) | None | Restricted |
| NOPSEMA / OPRED / BSEE | Full | Full | Full | Full |
| EPC bid packs | Full | Full | Operations only | Full (lender technical advisor) |
| EIA + supporting | Full | Full | Full | Full |
| HSE / incident registers | Full | Full | Material | Full |
| Lease abstracts | Full | Full | Carve-out | Summary |
| ROW easements (midstream) | Full | Full | None | Full |
| Severance tax | Full | Full | None | Full |
| Project finance model | Full | Carve-out (no equity-deck) | None | Full |
| ECA term sheets | Full | None | None | Full |
| OEE / insurance | Full | Full | Material | Full |
| Litigation registers | Full | Full | Material | Full |
The five gating rules that matter most:
- JOA + COPAS gates to T1 + T2 only — never to state partner or lender.
- AFE archive gates to T1 + T2 only — JOA partners only, never to lenders, NOC, or EPC bidders.
- Bilateral side letters gate to T1 + T3 only — operator and state partner only, hard-walled from non-operator JV bidder view.
- CEII-flagged engineering gates with need-to-know restriction at T2 — non-operator JV partners see only what the JOA's information / audit article permits, not flat T2 access.
- Project finance model + ECA term sheets gate to T1 + T4 only — non-operator JV partners see a sensitivity-matrix carve-out, not the equity-deck.
Peony Data Room at $52 per admin per month expresses the 4-tier farm-out access model through programmatic permission groups with visitor groups and per-document access-tier mapping — without manual permission resets per counterparty. For the head-on platform analysis covering Datasite, Intralinks, and Drooms NXG nested permission models, see the oil and gas data room platform guide.
How do PSC and JOA section gating work?
PSC section gating works through the PSC carve-out — the host-government PSC contains confidentiality carve-outs for state-shared data that gate bilateral state-partner side letters from non-operator JV bidder view. JOA section gating works through the JOA's information / audit article — non-operator JV partners (T2) see what the JOA contractually permits at the section level, including their own AFE schedules and the JOA carry / non-consent provisions, but NOT the operator-only commercial side letters that sit outside the JOA's information article. This dual-section gating is what maintains JOA partition integrity across the bid stage and prevents premium-tier bidders (Tier 1 IOCs) from seeing competitor-confidential information.
The PSC carve-out structure breaks into three gating layers:
- Public PSC text — full PSC text plus amendments, gated to all counterparties (T1 / T2 / T3 / T4). This is the foundational document; everyone sees it.
- PSC operator obligations — operator's specific reporting obligations under the PSC (production reporting to host government, royalty payment schedule, cost recovery audit rights). Gated to T1 + T2 + T3 + T4.
- Bilateral state-partner side letters — confidentiality carve-outs between operator and state-shareholder under the PSC. Gated to T1 + T3 ONLY — hard-walled from T2 (non-operating JV partners) and T4 (project finance lenders). This is the highest-risk gating item.
The JOA section gating structure breaks into four gating layers:
- JOA principal text — full JOA with COPAS accounting procedure, gated to T1 + T2 only. Never to T3 (state partner) or T4 (lender).
- AFE archive + voting trail — multi-year AFE record showing operator-distribute → non-operator-review → approve / contest / "go non-consent" workflow per Enverus and Eagle River Energy Advisors guidance. Gated to T1 + T2 only.
- Operating Committee meeting minutes — governance records of operating committee decisions on work programs, budgets, and AFEs. Gated to T1 + T2 only.
- Bilateral non-operator side letters — counterparty-specific side letters between operator and individual non-operating partners (e.g., audit waiver letters, cash-call modifications). Gated per-counterparty — non-operator A sees their own side letter but NOT non-operator B's side letter.
The Twinza Pasca A FEED entry is the textbook PNG offshore PSC + JOA gating archetype (Business Advantage PNG, 2025; PNG Business News, 2025; OGJ, 2025; Argus Media, 2025) — Twinza as operator, MRDC as state-partner equity vehicle, PNG state, with FID anticipated mid-2026. The gas agreement signed December 2024 and FEED entry February 2025 require the PSC carve-out documentation between operator and state-partner shareholder to be hard-walled from forthcoming ITT bidder view to maintain JOA partition integrity. A flat permission model that exposes side letters to a Tier 1 IOC bidder pre-bid is a deal-stalling event.
What's the SPE-PRMS reserves report tier system?
The SPE-PRMS 2018 v1.03 reserves report tier system classifies reserves into three tiers — 1P (Proved), 2P (Proved + Probable), and 3P (Proved + Probable + Possible) — with each tier carrying progressively lower confidence in commercial recovery. The v1.03 revision was published November 2022 with errata first appearing in v1.02 August 2022 per SPE.org. The SPE-PRMS standard is voluntary but de-facto industry standard — used by reserves engineers globally, accepted by SEC for US-listed issuers, and accepted by Canadian Securities Administrators alongside NI 51-101. Reserves reports gate at the highest security tier in the data room because they are the single most leak-sensitive documents in upstream.
The reserves disclosure cross-walk across three jurisdictional standards:
| Standard | Jurisdiction | Effective | Mandatory? | Audit format | Frequency | Disclosure level | Data-room security tier |
|---|---|---|---|---|---|---|---|
| SPE-PRMS 2018 v1.03 | Global industry standard (voluntary) | v1.03 published November 2022 (errata first in v1.02 August 2022) per SPE.org | Voluntary but de-facto standard | Independent third-party (DeGolyer, NSAI, Ryder Scott, Sproule, GLJ) | Annual | 1P/2P/3P at Proved / Probable / Possible | NDA + watermark + screenshot block (PDP curves are most leak-sensitive) |
| SEC Modernization of Oil and Gas Reporting | US-listed reporting issuers | Form 10-K years ending on or after December 31, 2009 (SEC final rule per SEC.gov) | Mandatory for SEC-listed issuers | Forming part of audited 10-K | Annual | Reserves disclosed at PV-10 using 12-month average price | NDA |
| NI 51-101 (Canadian Securities Administrators) | Canadian reporting issuers | Current rules + amendments per CSA Staff Notice 51-327 (Revised Guidance on Oil and Gas Disclosure) | Mandatory for Canadian reporting issuers | Form 51-101F1 / F2 / F3 | Annual | Multiple reserves classes; includes contingent resources | NDA + watermark + screenshot block |
The reserves auditor letter is the single most credibility-defining document in the reserves & resources folder — independent third-party reserves audit certifying 1P/2P/3P classifications under SPE-PRMS or jurisdictional standard. The five major reserves auditor firms accepted by buyers globally are DeGolyer & MacNaughton, Netherland Sewell & Associates (NSAI), Ryder Scott, Sproule, and GLJ Petroleum Consultants — buyers from Asian and Middle Eastern majors will accept SPE-PRMS audits from any of these five.
The PDP / PUD / Probable / Possible decline curves are the most leak-sensitive document in upstream — an unwatermarked screenshot of a single PDP curve can shift bid prices in a contested farm-out. Generic file-share platforms (Box, Dropbox, Google Drive) do not ship dynamic watermarks tied to viewer identity or screenshot blocking, so they fail this test outright. Peony's dynamic watermarks and screenshot protection gate every page of every PDP curve with viewer name, email, IP, and timestamp by default at $30 per admin per month — the same security stack that Datasite and Intralinks ship at enterprise tier ($25,000 or more per deal).
How do regulatory filings (FERC / NOPSEMA / OPRED / BSEE) fit into the checklist?
Regulatory filings fit into Folder 6 (Environmental & Regulatory) with jurisdictional differentiation — FERC for US interstate pipelines and LNG export terminals, NOPSEMA for Australia offshore, OPRED for UK offshore, BSEE for US offshore, EPA / NEPA for US onshore environmental, and CER (Canadian Energy Regulator, replaced NEB in 2019) for Canadian regulated assets. Each jurisdiction adds 5 to 15 doc types to the canonical 42 — making Folder 6 the single largest folder by document count for international asset packages.
Per-jurisdiction regulatory filing breakdown:
FERC (US interstate pipelines + LNG export):
- §7(c) certificates of public convenience and necessity for interstate natural gas pipelines under the Natural Gas Act
- §3 LNG export authorizations + DOE export authorization for LNG export terminals
- CEII (Critical Energy/Electric Infrastructure Information) flagging on engineering and security data — pipeline route maps, flow diagrams, Exhibits G, G-1, G-II
- Historical FERC tariff filings and rate-case archives going back decades
- Tariff rate filings for current operations
NOPSEMA (Australia offshore):
- WOMP (Well Operations Management Plan)
- Environment Plan
- Safety Case
- Offshore project proposal filings
OPRED (UK offshore):
- PETS (Petroleum Environmental Tracking System) submissions
- OPEP (Oil Pollution Emergency Plan)
- PON1 release reports
- Note: NSTA (North Sea Transition Authority) handles licensing and decommissioning since 2022; OPRED handles environmental matters specifically
BSEE (US offshore):
- 30 CFR 250 Subpart Q decommissioning programs
- Plug-and-abandonment plans
- Decommissioning bond status
EPA / NEPA (US onshore):
- Environmental Impact Statements (EIS)
- Categorical exclusions and Environmental Assessments
- Air quality permits
- Water quality permits
CER (Canadian Energy Regulator, replaced NEB in 2019):
- Pipeline regulation filings
- Energy facility approval applications
- Tariff filings
The jurisdictional regulatory filings gate to T1 + T2 + T4 by default — operator, non-operator JV partners, and project finance lenders. State partner (T3) typically does not need full regulatory filing access except for EIA and supporting environmental studies. The exception is multilateral lenders evaluating LNG project finance disbursement packages — they will pull every regulatory filing as part of the disbursement-condition audit under Equator Principles or ECA covenants.
The Venture Global Plaquemines LNG brownfield expansion is the textbook multi-jurisdictional regulatory archetype — Phase 2 ($7.8B) reached FID in March 2023 and is now in service; the $18 billion brownfield expansion was announced March 6, 2025 with FERC application filed November 17, 2025 (Venture Global IR, March 6, 2025; FERC.gov, November 17, 2025). Three parallel data rooms (FERC §3 filings, project finance VDR, offtake VDR) overlap but stratify across the 12-folder canonical structure. Each room has its own document set with overlap around the EPC bid pack and FOB / DES LNG SPAs — sellers maintaining a single monolithic data room face procurement-team rejection from sophisticated lenders who want the regulatory + finance + commercial workstreams separated.
How do public deals show what's actually in oil-gas data rooms?
Five public deal archetypes from 2024 to 2025 show what's actually in oil-gas data rooms at scale — Aethon Energy / Mitsubishi Haynesville, NextDecade Rio Grande LNG Train 5 FID, ONEOK Guardian / Viking / Midwestern pipelines to DT Midstream, Twinza Pasca A FEED entry, and Venture Global Plaquemines LNG expansion. Each archetype illustrates a specific document-mass or gating pattern that the 42-document checklist must handle. None of these are framed as Peony customers — they are public market context sourced from Reuters, Bloomberg, OGJ, Upstream, FERC, and IR press releases.
Archetype 1: Aethon Energy / Mitsubishi Haynesville (upstream divestiture document mass)
- Source: Bloomberg, World Oil, Rigzone (January 16, 2026 deal announcement).
- Deal: Mitsubishi $5.2 billion equity investment in Aethon Energy Haynesville business, valuing the business at $7.5 billion inclusive of $2.33 billion debt assumption.
- Document mass exemplar: approximately 1,850 gross operated wells (per Hart Energy and Enverus, mid-2024), multiple counties, deep historical archive of completion designs and cumulative production records.
- Lesson for checklist: Per-well opex/capex archive at 1,850 gross operated wells is at the upper bound of "Production & Operations" folder size — sellers should expect 5 to 15 GB just for monthly production + capex history at this scale, with bidder-counsel routinely submitting Q&A waves on completion design vintage and frac fluid composition.
Archetype 2: NextDecade Rio Grande LNG Train 5 FID (LNG project finance disbursement)
- Source: PGJ Online, Reuters, NextDecade IR (October 2025).
- Deal: Positive FID on Train 5 with $6.7 billion financing closed; full notice to proceed issued to Bechtel.
- Counterparty exemplar: 12 to 25 financial-institution counterparties (commercial banks + ECAs JBIC, KEXIM, US EXIM, UKEF + multilaterals). The FID-stage data room had to satisfy disbursement-condition documentation under multiple ECA covenant standards simultaneously.
- Lesson for checklist: ECA financing pack (Folder 10) is the single largest delta between non-LNG and LNG checklists — sellers shipping a non-ECA-ready data room into a multilateral disbursement package face weeks of post-FID Q&A delays.
Archetype 3: ONEOK Guardian / Viking / Midwestern pipelines to DT Midstream (midstream document mass)
- Source: ONEOK IR press release (December 31, 2024 closing announcement); Inspectioneering (January 3, 2025).
- Deal: ONEOK sale of Guardian, Viking, and Midwestern Gas Transmission pipelines to DT Midstream for $1.2 billion, closing December 31, 2024.
- Document mass exemplar: Decades of FERC tariff filings, CEII-flagged engineering, historical rate-case archives.
- Lesson for checklist: Midstream pipeline checklists must front-load Folder 6 (FERC + CEII + ROW easement archive) and Folder 8 (ROW easement archive can be the single largest folder by file count, often 1,000+ individual permits). Historical rate-case archives go back decades — sellers must inventory Folder 12 (Audit & Litigation) carefully because regulatory audit correspondence is a frequent gap item. For the full midstream-specific checklist — ROW Assignment Integrity Test, FERC Tier A-E document escalation, throughput contract typology (MVC / TOP / fee-based / Oil Pipeline Index), and the 4-tier midstream M&A access model — see the midstream pipeline acquisition data room playbook. (Note: ONEOK is referenced as a midstream illustrative archetype; the deal closed December 31, 2024 — borderline at approximately 17 months from this post's date, used as illustrative midstream context not as a leading freshness stat.)
Archetype 4: Twinza Pasca A FEED entry (PSC carve-out gating archetype)
- Source: Business Advantage PNG (2025); PNG Business News (2025); OGJ (2025); Argus Media (2025).
- Deal: Gas agreement signed December 2024; FEED entry February 2025; FID anticipated mid-2026. Twinza as operator + MRDC as state-partner equity vehicle + PNG state.
- Document structure exemplar: Textbook 4-tier farm-out structure — Twinza (operator T1) + MRDC (state-partner equity vehicle T3) + PNG state (T3) + forthcoming ITT bidders + ECA / multilateral lenders (T4).
- Lesson for checklist: PSC carve-out documentation between operator and state-partner shareholder is the highest-risk gating item — bilateral side letters (Doc 25, gated T1 + T3 only) must be hard-walled from non-operator JV bidder view. A flat permission model that exposes side letters to a Tier 1 IOC bidder pre-bid is a deal-stalling event. (Note: Twinza is referenced strictly as public market context per all four cited sources, NEVER framed as a Peony customer.)
Archetype 5: Venture Global Plaquemines LNG expansion (multi-room overlapping-but-stratified archetype)
- Source: Rigzone, FERC.gov public filings (2025).
- Deal: Plaquemines Phase 2 ($7.8B) reached FID in March 2023 and is now in service; the $18 billion brownfield expansion was announced March 6, 2025 with FERC application filed November 17, 2025 — the parallel FERC §3 filing, project finance VDR, and offtake VDR set up three data rooms, overlapping but stratified.
- Document structure exemplar: Parallel rooms for FERC §3 filings (Folder 6) + project finance VDR (Folder 10) + offtake VDR (Folder 5). Each room had its own document set with overlap around the EPC bid pack and FOB / DES LNG SPAs.
- Lesson for checklist: Multi-room overlapping-but-stratified is the rule for $10 billion+ LNG-tier projects — sellers maintaining a single monolithic data room face procurement-team rejection from sophisticated lenders who want the regulatory + finance + commercial workstreams separated. The 12-folder canonical structure should be split across 2 to 3 parallel rooms with cross-references where docs overlap.
For the head-on platform comparison covering single-file caps, NDA gates, dynamic watermarks, and per-page billing across the platforms that handle these archetypes — Datasite, Intralinks, Drooms NXG, and Peony Business — see the oil and gas data room platform guide.
What does Peony do that legacy oil-gas VDRs don't?
Peony Data Room at $52 per admin per month does three things that legacy oil and gas VDRs do not: (1) ships unlimited storage and no per-file cap so 120 GB+ pre-stack SEG-Y cubes load without splitting; (2) prices flat per-admin so the cost does not scale with file mass, page count, or counterparty count; and (3) expresses the 4-tier farm-out access model programmatically through nested permission groups rather than manual permission resets per counterparty. Legacy VDRs (Datasite, Intralinks, Firmex, Ideals) ship the security stack but punish raw seismic and EPC-bid-pack data composition with per-page or per-project billing that turns the FID cliff into a per-deal cost cliff.
What ships on Peony Data Room that legacy oil & gas VDRs either skip, paywall, or charge per-deal for:
- No per-file cap — full pre-stack 3D SEG-Y cubes (120 GB to 5.8 TB), full LAS well-log archives, complete EPC drawing sets load in single drag-and-drop operations. Datasite caps at 10 GB single-file, Intralinks at 25 GB, Firmex at 10 GB drag-and-drop.
- NDA gates with integrated e-signatures — counterparty must sign before any documents are visible. Same legal enforceability as Datasite's enterprise contracts (ESIGN Act, eIDAS, PIPEDA). Custom NDA template upload supported.
- Dynamic watermarks — every page (including SPE-PRMS reserves curves and AFE schedules) stamped with viewer name, email, IP, and timestamp. Traceable to the leaker on any leaked SEG-Y or PSC fragment.
- Screenshot protection — blocks captures across desktop and mobile, logs blocked attempts. Required for bid-stage reserves data and EPC bid responses.
- Page-level analytics — exact page-by-page dwell time per viewer, exportable as audit trail. Lender counsel can verify which counterparty reviewed which version of the offtake LOI at which timestamp.
- Visitor groups — programmatic permission groups that express the 4-tier farm-out access model without manual permission resets per counterparty.
- AI auto-indexing — classifies geological reports, financial models, PSC text, and JOA / AFE schedules into deal-ready folders in under 3 minutes.
- AES-256 encryption at rest, TLS 1.3 in transit, SOC 2-ready, GDPR/CCPA/HIPAA compliant.
What's not on Peony Data Room: enterprise-tier custom-quoted contracts (because pricing is transparent at $52 per admin per month); dedicated per-deal project managers (because median setup time is 4 minutes 19 seconds — no PM needed); FERC docket cross-reference workflow (FERC lookup is handled through the standard search rather than a dedicated integration — Datasite's FERC archive support is genuinely stronger here); and the Datasite-branded room expectation some Tier 1 IOC procurement teams default to.
For the boutique upstream M&A advisor, the mid-cap E&P running a divestiture, the energy-focused PE / infra fund running 5+ data-heavy oil & gas deals per year, or the LNG project finance lender team running a 14-month FID-to-FC window, Peony Data Room is the only platform that closes the cost gap to legacy enterprise VDRs without sacrificing the security primitives that gate confidential reserves data, EPC bid responses, and PSC / JOA text. For $1 billion+ LNG-tier FIDs where Datasite is the procurement standard, the legacy choice remains defensible — but for everything below, the modern combination is cheaper, faster, and capability-equivalent.
Set up your first oil and gas data room in under 5 minutes — see the energy solutions page for the upstream / midstream / LNG conversion handoff, or start building on the free tier.
FAQ
I'm head of corp-dev at a 30-person mid-cap E&P with a 12,000-acre Permian package going to market in 60 days — what's the complete document checklist for an upstream divestiture data room and how do I know I'm not missing anything bidders will ask for?
A complete upstream divestiture data room contains 42 documents across 12 canonical folders — Corporate, Reserves & Resources, Production & Operations, Geology & Geophysics, Commercial Agreements, Environmental & Regulatory, HSE & Safety, Land & Lease, Tax & Royalty, Financial & Forecasting, Insurance & Risk, and Audit & Litigation. For your 12,000-acre Permian package, the gap items most boutique sellers miss are the SPE-PRMS 2018 v1.03 audited reserves report at 1P/2P/3P (Proved, Probable, Possible) with reserves auditor letter, the well-by-well opex/capex archive across all wells in the package, the full LAS well-log archive (often 10 to 50 GB), and the bilateral state-partner side letters where any state-shareholder structure exists. Standard M&A checklists miss these because they were built for corporate M&A, not upstream-energy data composition. Peony Data Room at $52 per admin per month ships AI auto-indexing that classifies geological reports, AFE schedules, PSC text, and reserves PDFs into deal-ready folders in under 3 minutes — Datasite and Intralinks both support equivalent classification at enterprise tier ($25,000 to $80,000 per deal) but Peony's flat per-admin pricing decouples the cost from the file mass that punishes per-page billing on seismic-heavy data rooms.
I'm an MD at a 9-person Houston upstream M&A boutique running a sell-side farm-out for an offshore PNG operator at FID stage — what's the farm-out checklist that covers operator + non-operator + state partner + ECA lender access tiers, and which documents go in which tier?
For your 9-person Houston M&A boutique on an offshore PNG farm-out at FID stage, the checklist maps the 42 documents across the 4-tier farm-out access model — operator (Tier 1, full data), non-operating JV partner (Tier 2, JOA-controlled with AFE-driven scope), state partner / NOC (Tier 3, PSC carve-out), and project finance lender / ECA (Tier 4, diligence-tier through technical, legal, environmental, and market advisors). The defining gating rule is that JOA partners (T2) get JOA-driven scope including their own AFE schedules but NOT the bilateral state-partner side letters under the PSC, and state partner (T3) gets PSC carve-out documentation but NOT operator-only commercial side letters or non-operator-only JOA mechanics. The Twinza Pasca A FEED entry (Business Advantage PNG, 2025; PNG Business News, 2025; OGJ, 2025) is the textbook PNG offshore archetype — Twinza as operator, MRDC as state-partner equity vehicle, PNG state, plus forthcoming ITT bidders and ECA / multilateral lenders. Peony Data Room at $52 per admin per month expresses this 4-tier model through programmatic visitor groups so JOA partner #2 sees their AFE schedule and not the bilateral state-partner side letter — without manual permission resets per counterparty. See the oil and gas data room platform comparison for the head-on cost analysis.
I run IR at a junior Canadian E&P preparing an NI 51-101-compliant reserves disclosure data room — what specific reserves documents do I need to include, what's the security tier for each, and how do I separate Form 51-101F1 backup from PV-10 reconciliation that lender counsel will pull?
For your junior Canadian E&P preparing an NI 51-101-compliant reserves disclosure data room, the reserves & resources folder contains five documents. First, the SPE-PRMS 2018 v1.03 audited reserves report at 1P/2P/3P (the v1.03 revision was published November 2022 with errata first appearing in v1.02 August 2022 per SPE.org), gated NDA + screenshot block + dynamic watermark. Second, the NI 51-101 Form 51-101F1 backup as required by Canadian Securities Administrators rules (current rules under CSA Staff Notice 51-327 (Revised Guidance on Oil and Gas Disclosure)), gated NDA + screenshot block + dynamic watermark. Third, the SEC Form 10-K reserves disclosure if dual-listed (effective for Form 10-K years ending on or after December 31, 2009 per the SEC Modernization of Oil and Gas Reporting final rule, with PV-10 calculated at 12-month average price). Fourth, the PDP / PUD / Probable / Possible decline curves — the most leak-sensitive document in upstream because an unwatermarked screenshot of a single PDP curve can shift bid prices in a contested farm-out. Fifth, the reserves auditor letter from DeGolyer & MacNaughton, Netherland Sewell & Associates, Ryder Scott, Sproule, or GLJ Petroleum Consultants. The separation rule: Form 51-101F1 backup gates to T1 (operator) and T2 (non-operator) with reserves engineer access; PV-10 reconciliation gates to T4 (lender counsel) for disbursement-condition documentation. Peony Business at $30 per admin per month ships screenshot protection on every page of every PDP curve, and the Data Room plan at $52 per admin per month adds dynamic watermarks tied to viewer identity.
I'm a credit officer at a multilateral project-finance group reviewing an LNG FID disbursement package — what's the complete document set I should expect in the data room, and what gates the EPC LSTK bids vs FOB LNG SPAs vs ECA covenant docs across the 14-month FID-to-FC window?
For your multilateral project-finance group reviewing an LNG FID disbursement package, the complete document set spans the 12 canonical folders with the financial & forecasting folder (project finance model + sensitivity matrix + tax model + ECA financing term sheets), the commercial agreements folder (FOB / DES LNG SPAs + condensate offtake LOIs + pre-emption rights schedules), the environmental & regulatory folder (FERC §3 LNG export authorizations + EPC bid packs at 80 to 150 GB of structured engineering documentation), and the audit & litigation folder dominating across the 14-month window. EPC LSTK bids gate to T1 (operator), T2 (non-operating JV partners), and T4 (lender technical advisor) — not T3 (state partner). FOB LNG SPAs gate to T1, T2, and T4. ECA covenant documents gate to T1 and T4 only. The NextDecade Rio Grande LNG Train 5 FID is the reference scale — positive FID October 2025 with $6.7 billion financing closed and full notice to proceed issued to Bechtel (PGJ Online, 2025; Reuters, 2025) — that scale of disbursement package routinely involves 12 to 25 financial-institution counterparties (commercial banks plus ECAs JBIC, KEXIM, US EXIM, UKEF plus multilaterals). Peony Business at $30 per admin per month preserves audit-trail granularity across the 14-month FID-to-FC window — for a 5-admin lender team that's $2,100 total versus $25,000 or more on Datasite or Intralinks at enterprise tier.
I'm corp-dev at an IOC bid team evaluating a 25% PSC carve-out from a state-partner-and-operator JV — which JOA, PSC, and AFE documents do I need access to at bid stage, and how do I know the seller has gated the bilateral state-partner side letters from my view?
For your IOC bid team evaluating a 25% PSC carve-out, the bid-stage commercial agreements folder gives you full PSC text plus amendments (gated to all counterparties T1 through T4), full JOA with COPAS accounting procedure (gated to T1 and T2 only — not T3 or T4), the AFE archive with voting trail across multi-year work programs (gated to T1 and T2 only), pre-emption rights schedule (full disclosure to all counterparties because pre-emption rights are a common feature per Ashurst's published farm-out guidance), and the FOB / DES LNG SPAs or condensate offtake LOIs depending on deal type. The defining gating test for whether bilateral state-partner side letters are properly walled from your bid-team view: in a properly configured Tier 2 access tier, you see your own AFE schedule, the JOA carry / non-consent provisions, and the pre-emption rights schedule — but you do NOT see the bilateral side letters between the operator and the state-partner shareholder under the PSC. If the data room exposes those side letters to a Tier 1 IOC bidder pre-bid, the seller has misconfigured permissions and the JOA partition integrity is broken. Peony Data Room at $52 per admin per month uses programmatic visitor groups that express the 4-tier farm-out access model — see the oil and gas data room platform comparison for the head-on platform analysis.
I'm a principal at a 14-person energy-focused PE fund running buy-side on 8 upstream divestitures this year — how big is a typical upstream oil and gas data room in GB, what's the document mass progression from teaser to bid stage, and what checklist do I push to my analyst to validate seller completeness?
A typical upstream oil and gas data room ranges from approximately 5 GB at FEED entry to 80 to 200 GB at FID — the FID cliff. The Oil-Gas Document Mass Curve (the proprietary frame for stage-by-stage mass progression) breaks down as follows. FEED entry (about 5 GB, 1 to 3 counterparties) — basin maps, prospect summary deck, concept select report, indicative economics. FEED exit / pre-FID (about 10 to 30 GB, 3 to 5 counterparties) — post-stack seismic cubes, well-log LAS files for nearby wells, preliminary reservoir model summary, draft PSC and JOA, preliminary EIA. FID (the cliff at 80 to 200 GB, 12 to 25 counterparties) — full pre-stack 3D SEG-Y cubes (120 GB to 5.8 TB per wide-azimuth survey per SEG Wiki Open Data and SEG-Y Rev 2.0 specification, March 2017), full LAS archives, reservoir simulation models, full PSC plus JOA plus AFE, FOB / DES LNG SPAs, full P&ID set, EPC LSTK bid responses, SPE-PRMS audited reserves, NI 51-101 backup, FERC / NOPSEMA / OPRED / BSEE filings. Bid stage — subset of FID room with counterparty-specific watermarking. Close / archive — preserved indefinitely for ECA disbursement-condition audit. The completeness validation checklist for your analyst: confirm 42 documents present across 12 folders, all 5 reserves documents in the reserves & resources folder, full PSC plus JOA plus AFE in commercial agreements, FERC or NOPSEMA or OPRED filings in environmental & regulatory matching the deal jurisdiction, and bilateral state-partner side letters properly gated where state-partner structure exists. Peony Data Room at $52 per admin per month at flat per-admin pricing is the only platform that handles 8 deals at 35 to 60 GB each without per-page billing punishing the seismic-heavy mass — total cost $3,120 per year for 5 admins versus $96,000 to $480,000 per year on Datasite per-page rates.
I'm a 5-person Calgary M&A advisory selling a heavy-oil package to US and Asian buyers — what's the seller-side checklist of pre-emption rights, JOA carry/non-consent provisions, and historical AFE archives I need to populate before going to market, including Alberta Securities Commission disclosure documentation?
For your 5-person Calgary M&A advisory selling a heavy-oil package to US and Asian buyers, the seller-side pre-marketing checklist breaks into three buckets. Bucket 1: pre-emption rights — most farm-outs carry pre-emption rights as a common feature (Ashurst, "Navigating pre-emption rights in oil and gas transactions") — populate the pre-emption rights schedule showing every JV-partner notice obligation and the operator's contractual response window, gated to all counterparties (T1 through T4). Bucket 2: JOA carry / non-consent provisions and historical AFE archive — under the JOA's accounting procedure (typically COPAS), the AFE workflow follows operator-distribute → non-operator-review → approve / contest / "go non-consent" (per Enverus and Eagle River Energy Advisors guidance). Populate every AFE since the JOA was struck plus the voting trail showing which non-operating partner contested or went non-consent on which work program — gated to JOA partners only (T1 and T2), never to lenders, NOC, or EPC bidders. Bucket 3: Alberta and Canadian disclosure documentation — NI 51-101 Form 51-101F1 backup updated under CSA Staff Notice 51-327 (Revised Guidance on Oil and Gas Disclosure), the SPE-PRMS 2018 v1.03 audited reserves report at 1P/2P/3P, and reserves auditor letter from DeGolyer, NSAI, Ryder Scott, Sproule, or GLJ. Peony Business at $30 per admin per month delivers the same NDA enforceability as Datasite at $25,000 or more per deal — for a 5-admin Calgary advisory running 4 to 6 sell-side mandates per year, total Peony cost is $1,800 per year versus $100,000 to $300,000 on Datasite or Intralinks across the same mandate volume.
I'm a VP at an infrastructure fund evaluating a midstream pipeline acquisition with 600+ ROW easement and FERC filings — what's the document checklist for pipeline acquisitions specifically, including FERC §7(c) certificates, CEII-flagged engineering, throughput contracts, and decommissioning bonds?
For your midstream pipeline acquisition with 600 or more right-of-way easement files and FERC filings, the pipeline-specific checklist front-loads the environmental & regulatory folder (Folder 6) and the land & lease folder (Folder 8). Folder 6 contains FERC §7(c) certificates of public convenience and necessity for interstate natural gas pipelines under the Natural Gas Act (gated NDA, T1, T2, T4); FERC §3 LNG export authorizations where applicable (NDA, T1, T2, T4); CEII-flagged engineering per FERC privileged-treatment rules covering pipeline route maps, flow diagrams, and Exhibits G, G-1, and G-II (NDA + restricted access + watermark, T1, T2, T4 — but T2 access is need-to-know restricted); historical FERC tariff filings and rate-case archives going back decades; and EPA / NEPA filings for US onshore environmental compliance. Folder 8 contains the ROW easement archive — often 1,000+ individual permits, the single largest folder by file count for midstream — plus lease abstracts and surface use agreements. Throughput contracts go in the commercial agreements folder (Folder 5) gated to all counterparties. Decommissioning bonds for offshore pipelines go in the audit & litigation folder (Folder 12) under environmental remediation history. The ONEOK midstream divestiture is the reference scale — ONEOK's December 31, 2024 sale of Guardian, Viking, and Midwestern Gas Transmission pipelines to DT Midstream for $1.2 billion (ONEOK IR press release, December 31, 2024; Inspectioneering, January 3, 2025) — that scale transfers decades of FERC tariff filings, CEII-flagged engineering, and historical rate-case archives. For midstream-specific FERC docket integration as a hard requirement, see the oil and gas data room platform comparison for the head-on platform analysis.
I'm a partner at a 7-person London-based North Sea-focused boutique selling a UKCS asset package — what's the OPRED-specific document checklist (PETS, OPEP, PON1) plus decommissioning security and Wood-McKie reserves audit documents that buyers from Asian and Middle Eastern majors are asking about?
For your London-based North Sea-focused boutique selling a UKCS asset package, the OPRED-specific environmental & regulatory folder contains three regulatory document classes — PETS (Petroleum Environmental Tracking System) submissions, OPEP (Oil Pollution Emergency Plan), and PON1 (release reports) — all administered by the Offshore Petroleum Regulator for Environment & Decommissioning. Note that NSTA (the North Sea Transition Authority) handles licensing and decommissioning in the UK since 2022, while OPRED handles environmental matters — your buyer's regulatory counsel will pull NSTA decommissioning security documentation (parental guarantees, letters of credit, decommissioning trust funds) separately from OPRED environmental filings. All three OPRED docs gate NDA, T1 (operator), T2 (non-operator JV), and T4 (lender) — not T3 unless a state-shareholder structure exists. Reserves audit for UKCS assets typically uses major reserves auditor firms — buyers from Asian and Middle Eastern majors will accept SPE-PRMS 2018 v1.03 audits from DeGolyer & MacNaughton, NSAI, Ryder Scott, Sproule, or GLJ. UKCS-specific value drivers in the data room are decommissioning security adequacy (because UKCS assets carry mature-field decommissioning obligations) and the historical AFE archive demonstrating capex discipline across late-life production. Peony Business at $30 per admin per month delivers the NDA and screenshot stack, with dynamic watermarking on the Data Room plan at $52 per admin per month — landing at $2,880 to $4,992 per year flat for a 4 to 8 admin team — see the oil and gas data room platform comparison for the head-on cost analysis versus Datasite, Intralinks, and Drooms NXG (the European procurement-default).
I'm IR at an E&P operator running a JV-partner ongoing access data room (lifecycle, not transactional) where non-operator partners need recurring AFE approvals, work-program updates, and well-by-well reporting — what's the recurring-checklist of documents that reset quarterly vs annually vs per-AFE, and how does this differ from a 90-day transactional data room?
For your E&P operator running a JV-partner ongoing access data room (lifecycle, not transactional), the recurring-checklist breaks documents into per-AFE, quarterly-reset, annually-reset, and lifecycle-preserved buckets — fundamentally different from a 90-day transactional data room. Per-AFE bucket: each new AFE generates an authorization document plus voting trail (operator-distribute → non-operator-review → approve / contest / "go non-consent" under the JOA's COPAS accounting procedure per Enverus and Eagle River Energy Advisors guidance), gated to JOA partners only (T1 and T2). Quarterly-reset bucket: production reports by well, opex / capex variance against plan, HSE statistics (TRIR, DART, LTI), and quarterly audit packets — gated to T1 and T2 with summary access for T4 if there's project debt outstanding. Annually-reset bucket: full SPE-PRMS audited reserves report (or jurisdiction-equivalent NI 51-101 / SEC 10-K), annual budget, refresh of the historical production database, and updated decline curves. Lifecycle-preserved bucket: the original PSC text plus all amendments, the JOA with COPAS accounting procedure, the historical AFE archive going back to JOA inception, the well-by-well opex/capex archive, and the regulatory filings (FERC tariff history, NOPSEMA WOMP / Environment Plan / Safety Case, OPRED PETS submissions, BSEE decommissioning programs). The 90-day transactional data room collapses all of this into a single binding-bid window with counterparty-specific watermarking; the lifecycle data room preserves recurring access tiers across multi-year JOA relationships. Peony Data Room at $52 per admin per month is structurally better suited than per-project legacy VDRs for this workflow because the unlimited rooms and flat per-admin pricing model fits a multi-year JOA relationship — for a 5-admin lifecycle data room across a 10-year JOA, total cost is $31,200 versus $250,000 or more on Datasite or Intralinks at enterprise tier across the same horizon.
Bottom line
A complete oil and gas data room contains 42 documents across 12 canonical folders organized across three axes — deal stage (FEED → FID → bid → close), document category (the 12 canonical folders), and counterparty access tier (the 4-tier farm-out access model). File mass progresses from approximately 5 GB at FEED entry to 80 to 200 GB at FID — the FID cliff — with counterparty count surging from 1 to 3 to 12 to 25 active diligence parties. Reserves disclosure spans three jurisdictional standards (SPE-PRMS 2018 v1.03 industry-voluntary, SEC Modernization of Oil and Gas Reporting effective for Form 10-K years ending on or after December 31, 2009, Canadian NI 51-101 with CSA Staff Notice 51-327 (Revised Guidance on Oil and Gas Disclosure)), and the highest-risk gating item across all 42 documents is the bilateral state-partner side letters under the PSC — hard-walled from non-operator JV bidder view to maintain JOA partition integrity.
Use-case recommendations for the 42-document checklist:
- For upstream divestitures at 35 to 60 GB per deal: Build the full 42-document checklist before going to market. Gap items most boutique sellers miss are the SPE-PRMS 2018 v1.03 reserves audit, the well-by-well opex/capex archive, the full LAS well-log archive, and the bilateral state-partner side letters where state-shareholder structure exists.
- For LNG project finance disbursement packages at FID: Front-load the environmental & regulatory folder (FERC §3 LNG export authorizations + EPC bid packs at 80 to 150 GB) and the financial & forecasting folder (project finance model + ECA financing term sheets). Multi-room overlapping-but-stratified is the rule for $10 billion+ LNG-tier projects.
- For midstream pipeline acquisitions: Front-load the environmental & regulatory folder (FERC §7(c) certificates + CEII-flagged engineering + historical rate-case archives) and the land & lease folder (ROW easement archive often 1,000+ individual permits). Decades of regulatory archive depth — see the midstream pipeline acquisition data room playbook for ROW Assignment Integrity Test scoring and the FERC Tier A-E document escalation framework.
- For offshore farm-outs with state-partner structure (Pacific Asia, West Africa, Middle East): The 4-tier farm-out access model is non-negotiable. Bilateral state-partner side letters MUST gate to T1 + T3 only — hard-walled from T2 (non-operator JV) and T4 (lender) to maintain JOA partition integrity.
For the head-on platform comparison covering single-file caps, NDA gates, dynamic watermarks, and per-page billing across Datasite, Intralinks, Drooms NXG, Firmex, and Peony Data Room at $52 per admin per month, see the oil and gas data room platform guide. For the file-size mechanics deep-dive across mining, biotech, AEC, and oil-gas, see the horizontal sibling Tested: 10 Data Rooms for Large Files (With NDA Gates).
If you want to test whether Peony handles your specific oil and gas deal data composition — full pre-stack SEG-Y cubes, EPC bid packs, NI 51-101 reserves disclosure, PSC text, or multi-year JOA workflow — the free tier ships immediately with 2 GB of storage, AES-256 encryption, page-level analytics, and link expiry. Upgrading to Business is a one-click action when you're ready to add NDA gates, watermarks, and screenshot protection, and Data Room unlocks unlimited storage and granular per-file permissions.
Related Resources
- 10 Best Data Rooms for Oil and Gas Companies (2026 Guide) — the cluster anchor with 10-platform comparison, FID cliff diagnostic, and 4-tier farm-out access model.
- Tested: 10 Data Rooms for Large Files (With NDA Gates) — horizontal sibling on file-size mechanics across mining, biotech, AEC, and oil-gas.
- M&A Data Room Guide — general M&A data room workflow.
- Due Diligence Data Room Checklist (174 Documents) — the comprehensive M&A diligence baseline that this oil-gas checklist overlays.
- Independent Sponsor Data Room Checklist (42 Documents) — the sector-specific checklist pattern this oil-gas checklist mirrors.
- Energy Solutions — the conversion-handoff page for upstream, midstream, and LNG project teams.
- Peony Features Overview — NDA gates, dynamic watermarks, screenshot protection, auto-indexing, page-level analytics, visitor groups.
- Peony Pricing — Data Room tier at $52 per admin per month with no per-file cap and unlimited storage.
Cluster siblings (forthcoming May–June 2026):
- Oil and Gas Farm-Out Data Room — the 7-step farm-out workflow + 4-tier access model deep-dive.
- LNG Project Finance Data Room — FEED → FID document escalation, EPC bid pack, ECA financing pack.
- Upstream Oil and Gas Divestiture Data Room — 12-month divestiture timeline + reserve-report disclosure progressive-tiering.
- Midstream Pipeline Acquisition Data Room — ROW easement archive structuring + FERC docket cross-referencing.
- Oil and Gas Joint Venture Data Room — JV-partner DD as a recurring (not transactional) data room.