Maximized Cost Recovery of Lost Funds for an Oil and Gas Client
The client, an international oil & gas refiner and retailer, requested to design a program to maximize their cost recovery across their vast U.S. portfolio. They enlisted Antea Group to assess their eligibility and recovery for any and every incident managed by them and requested that we develop systems that would enable full recovery of eligible costs with 0% missed dollars. They outlined their success criteria to be:
- Submit 100% of potentially eligible sites for cost recovery
- Maintain a 100% spend-to-submit ratio on these sites
- Recover expenditures to fullest extent within every state fund in an expedited manner
Antea Group established teams of experts in every state with reimbursement funds where the client’s incidents occurred. We established a full national reimbursement program and managed their eligibility, claims, data, and metrics reporting.
For more than 19 years, our dedicated team of more than 20 reimbursement specialists has maintained a successful reimbursement program for the client, including:
- More than $400 million in submittals
- More than $350 million in recovered funds
- A 100% spend-to-submit ratio on eligible sites
- Eligibility for reimbursement gained on hundreds of incidents
- Maximized recovery up to incident caps
- Recovery of more than $22 million in historical costs previously missed
- Continued eligibility and recovery through acquisitions and mergers
- Historical expenditures on acquisition portfolios not previously discovered.