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Upstream: Corporate Finance: Valuation Advisory Services

Fieldwood Energy, LLC. (Fieldwood) is a Houston-based portfolio company of Riverstone Holdings, LLC. (Riverstone), focused on the acquisition and development of conventional oil and gas assets in North America, including the Gulf of Mexico. On September 30, 2013, Fieldwood acquired Apache Corporation’s (Apache) Gulf of Mexico Shelf (Shelf) business for approximately $3.75 billion. Fieldwood engaged Opportune to perform a valuation advisory service of Fieldwood and related units to management.

Opportune’s team was responsible for conducting a valuation analysis of Fieldwood in connection with the issuance of the new units for financial reporting purposes. Opportune estimated the value of Fieldwood using a neet asset value approach for the valuation of the Fieldwood legal entity. Opportune net calculated discounts of the related units for both illiquity and minority interests. And finally, Opportune estimated the fair value of the related units for financial reporting purposes. Fieldwood auditors reviewed the valuation that Opportune developed and considered a reasonable indication of value, which was included in the Fieldwood financial statements.

The Opportune corporate finance team focuses on transaction advisory and valuations. We offer our clients the knowledge and resources that come from a seasoned energy industry finance staff. We understand the increasing complexities of energy industry valuations, and perform advanced analytics of derivatives, securities, equity instruments, debt instruments, and corporate deal structures. For additional information, click here.

Dean Price

PartnerOpportune LLP