Upstream: Restructuring

ATP Oil & Gas Corporation (“ATP”), a publicly traded U.S. corporation with oil and gas operations in the Gulf of Mexico, engaged Opportune to serve as a financial advisor during the company’s bankruptcy.

ATP has a complex capital structure involving multiple levels of secured debt and other unique contractual financial obligations. Effective restructuring depended on a major deepwater construction project and functioning assets in place to offset significant liquidity issues and complex financial and operational regulatory commitments.

Opportune’s comprehensive energy skills were critical in the formation of a financeable DIP loan case. In addition, Opportune functioned as the essential liaison among lenders, vendors and ATP for their ongoing construction project. Opportune also designed an effective commodity hedging strategy that worked within ATP’s liquidity and credit constraints.

Since 2009, Opportune has participated in many restructuring/bankruptcy projects across the entire energy industry spectrum. Our restructuring experience, coupled with our energy-industry expertise, can help stabilize and protect corporations. We develop strategic, actionable plans to improve business processes and meet the challenges of business turnarounds.

We serve corporate clients, secured lenders, unsecured creditors and investors to enhance investments and protect returns during times of operational and financial crisis.