Power & Gas: Process & Technology: Strategic Planning

A fully integrated North American energy retailer and services provider engaged Opportune to assist in the development of a 15-month set of goals, objectives, and plans for the Chief Financial Officer (CFO). Opportune began by conducting a careful background assessment and analysis of the current organizational structure, culture, people, financial operations, and institutional history to develop an understanding of the best way to implement new CFO objectives. Opportune’s expert team […]

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Upstream: Enterprise Risk

A privately held global financial services firm was considering extending additional debt to one of the oil and gas exploration and production (E&P) companies in its investment portfolio. Headquartered in Knoxville, Tennessee, the E&P Company focuses its operations in Cook Inlet, Alaska and the Appalachian Basin and offers common stock on the New York Stock Exchange. The financial services firm initially engaged Opportune to assess the quality of earnings of […]

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Upstream: Process & Technology: Royalty & Accounting Reporting

University Lands, a department of The University of Texas (UT) System, manages the system’s mineral interests and surface rights to approximately 2.1 million acres located primarily in the Permian Basin. As a result of the shale boom in West Texas, University Lands recognized the need for more streamlined reporting and accounting to better manage their assets and to provide improved customer service to the lessees and purchasers on their land. […]

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Oilfield Services: Complex Financial Reporting: Process & Reporting Enhancement

During the first few months as the new Chief Accounting Officer (CAO) of a global gas compression services company (the Company), the CAO unknowingly reported inaccurate financial reports to the Company’s key stakeholders. These financial reports were the result of heavily dependent ad hoc and inconsistent, manual procedures. Without the proper tools, the accounting department was burdened by a perpetual month-end close process, and, as a result, it did not […]

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Downstream: Tax: ETRM System and Sabrix Implementation

PBF Energy (PBF) is one of the largest independent petroleum refiners and suppliers of petroleum products in the United States. PBF recently completed its IPO and continues to grow rapidly. Opportune was initially engaged to implement PBF’s ETRM system (RightAngle) and was further engaged by the Tax Director. As PBF expanded, the tax department and the organization needed support to streamline and manage daily tax operations. PBF leveraged Opportune’s industry […]

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Upstream: Energy Advisory Services for Private Capital: Crisis Management

The Undisclosed E&P Company (The Company) is the Holder of strategic assets primarily in the shallow waters of the Gulf of Mexico. The Company’s focus is on acquisitions, production enhancements, development, and low risk exploration in the Gulf of Mexico. Opportune’s professionals were engaged to advise certain Private Equity backers regarding The Company’s current and future financial position. Specifically, Opportune evaluated The Company’s ability to pay down its accounts payable […]

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Upstream: Outsourcing

Memorial Production Partners LP (Memorial) is a publicly traded limited partnership that was formed in 2011 to own, acquire and exploit oil and natural gas properties in North America. Memorial acquired its initial assets from three separate operating companies of Natural Gas Partners (NGP) in December 2011. Memorial engaged Opportune for data conversion, operational transactional processing and reporting, production allocation, and land services. Opportune set up more than 1,500 properties […]

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Upstream: Corporate Finance: Due Diligence

EnerVest is one of the 25 largest oil and gas companies in the United States, with more than 27,000 wells across 16 states, 5.5 million acres under lease, and more than $10 billion in assets under management. EnerVest has been a successful sponsor for over 20 years as an operating company for institutional investors, and in 2013 completed its thirteenth partnership fund with aggregate equity commitments of $2 billion. Opportune […]

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Midstream: Corporate Finance: Valuation Services

In 2008, Flatrock Energy Advisors LLC and EnCap Investments L.P. joined together to create EnCap Flatrock Midstream (“EnCap Flatrock”), a private equity firm dedicated to invest in the midstream sector of the North American energy industry. Today EnCap Flatrock has more than $3 billion in total assets under management. The firm’s impressive portfolio of companies includes Nuevo Midstream LLC (“Nuevo”), which was formed in April 2011 by EnCap Flatrock and […]

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Upstream: Strategy & Organization

University Lands, a department of the University of Texas System’s Office of Business Affairs, manages the Permanent University Fund lands and all operations therein. University Lands’ operations include both the mineral interests and surface rights for approximately 2.1 million acres, primarily in the heart of the Permian Basin. Recognizing the potential of the land assets, University Lands engaged Opportune to provide a comprehensive strategic study comparing the effectiveness and efficiency […]

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