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 acquired from the three NGP operating companies and handled the majority of the back office functions. This effort required converting data from three different systems that corresponded to the three different operating companies. Additionally, Opportune recommended and implemented third-party applications to achieve operational efficiencies for the organization. Opportune also performed an extensive land due diligence review of hard copy leases of one of the companies acquired in order to determine the accurate ownership percentage being purchased by Memorial. Outsourcing back office functions to Opportune allowed Memorial time to focus on evaluations of systems and hiring of additional personnel.
Memorial relied on Opportune’s deep oil and gas operational expertise and knowledge while building its internal team pursuant to transitioning the back office operations in-house. Memorial has since brought its back office operations in-house; however, our firm continues to provide ongoing support in the areas of system conversions and system administration, as well as other special projects in support of Memorial’s continued growth.
Opportune currently provides back office services for more than two hundred public and private companies across the world. Our outsourcing team offers expertise in transactional reporting, land administration and reporting, joint interest billing, accounts payable/receivable, production allocation and reporting, and software system administration. For additional information, click here.