Upstream: Corporate Finance: Purchase Price Allocation

Midstates Petroleum Company, Inc. (Midstates) is an independent exploration and production company focused on the application of modern drilling and completion techniques to oil/liquids-prone resources in previously discovered, yet underdeveloped hydrocarbon trends. Midstates is headquartered in Houston, Texas, with a regional office in Tulsa, Oklahoma. Midstates engaged Opportune’s Corporate Finance team to perform a valuation of assets worth $1.27 billion worth in connection with two transactions. Opportune’s experienced experts conducted […]

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Downstream: Process & Technology: SAP Implementation

PBF Energy (PBF) is one of the largest independent petroleum refiners and suppliers of unbranded transportation fuels, heating oil, petrochemical feedstock, lubricants, and other petroleum products in the United States. Opportune has a relationship with PBF, and they engaged our Process and Technology team advisors to implement and define a right-sized solution for a startup reefing company. Opportune’s experienced advisors were furthermore engaged to help implement the solution throughout the […]

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Downstream: Process & Technology: ETRM Support

PBF Holding Company, LLC, (PBF) is one of the largest independent petroleum refiners and suppliers of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. PBF initially engaged Opportune to help define its overall IT strategy and systems landscape and to complete a full ERP and ETRM system selection and implementation. After a successful IPO, PBF growth continued, in addition to normal business […]

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Power & Gas: Process & Technology: Nodal Program Implementation

The Electric Reliability Council of Texas (ERCOT) is an independent systems operator that manages the flow of electric power to 24 million Texas customers, representing close to 90 percent of the state’s electric load. Total capacity in the ERCOT market exceeds 74,000 megawatts. Initially, ERCOT engaged Opportune to design, build, and run a financial management office that would budget, forecast, and control the $550 million of costs related to Nodal […]

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Upstream: Complex Finance Reporting: IPO

Founded in 2008, Parsley Energy, Inc. (Parsley) is an independent oil and natural gas company with operations in the Permian Basin, where they develop unconventional oil and natural gas reserves.  Over the past several years, Parsley has grown from a two-person start-up to a large-scale corporation that operates several hundred wells and produces more than fifteen-thousand barrels (net) of oil equivalent per day. In August 2013, Parsley engaged Opportune to […]

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Upstream: Tax: Parsley Energy Inc.

Parsley Energy Inc. (Parsley), is an exploration and production company withoperations in the Permian Basin and is based in Midland, Texas.  Opportune wasengaged to assist Parsley through its initial public offering (IPO) process, includingfiling a registration statement on Form S-1 (S-1) with the Securities ExchangeCommission (SEC). Opportune’s transaction services and tax experts worked with the complex financialreporting team to coordinate the complex process of filing the S-1. The legal and […]

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Upstream: Dispute Resolution

Opportune was engaged as a subject matter expert in a dispute between partners of an oil and gas company. The matter involved two joint operating partners, one, the financial backer, and the other, the operational partner. Our Client, a third-party accountant for other joint interest owner responsible for the financial funding, was facing a suit claiming our Client was responsible for damages and profit loss. In this suit, the plaintiff […]

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Commodities Trading & Logistics: Restructuring

An undisclosed lender for a privately held trading company engaged Opportune as a crisis manager to assist in the evaluation of immediate liquidity needs, the ongoing viability of the trading company’s business, and the cost benefit of liquidation. Opportune served as a financial advisor and provided the undisclosed lender with an intricate and accurate valuation report for collateral purposes during a volatile situation involving multiple stakeholders. Opportune responded quickly to […]

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