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Upstream: Complex Financial Reporting

Midstates Petroleum (Midstates) is an upstream company focused on the acquisition and development of domestic oil and gas properties. Initially recapitalized with private equity capital from a major private equity group, Midstates’ management team engaged Opportune to manage the financial reporting aspects of its initial public offering (IPO) process.

Having worked on and managed hundreds of SEC filings, Opportune’s management team is very familiar with IPO timelines. Opportune collaborated with the auditors to identify, discuss and evaluate financial reporting issues; drafted SEC pre-clearance and comment response letters; served as a technical advisor to the management team on financial reporting and tax matters; and assisted the transition of responsibilities to the newly hired corporate controller. In addition, Opportune also acted as a liaison among legal, underwriters and external auditors in drafting the Registration Statement.

Opportune is nimble, making us more efficient and able to seamlessly partner with our clients to accomplish their goals. After helping successfully complete the IPO process, we continue to provide financial reporting and our full suite of valuation services to Midstates.

Opportune’s extensive experience, with hundreds of clients and billions of dollars in transactions, enables us to quickly apply our understanding of each client’s unique history and operations in drafting registration statements, pre-clearance letters and responses to SEC comments. Since 2007, Opportune has participated in more than a dozen IPOs. For additional information, click here.

Josh Sherman

PartnerOpportune LLP