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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 hired an expert to provide a supplemental disclosure report on the value and damages to the company, as a result of the dissolved joint venture. This report was based on economic and operational information reflecting the booming period from 2005-2007 and did not include realities from the impact of the oil and gas economic downturn thereafter.

Opportune’s oil and gas experts were engaged by the Client to provide a rebuttal to this unfounded report. Opportune was engaged to review the plaintiff’s report and comment on its force and application to our Client’s related work. Opportune was retained to provide a reasoned and logical understanding of damage calculations, sound business judgment, and operational and financial oil and gas expertise.

Opportune quickly mobilized and performed a review and critique of the plaintiff’s report. Opportune’s expert analysis refuted all aspects of the plaintiff’s report, including the applicable standard for calculations and fair value judgment, the applicable standard for damage calculation methodologies, and the applicable business judgment in relation to the reality of the oil and gas industry. Opportune concluded the plaintiff’s determination of range of damages was speculative and subjective.

Legal disputes are a complex corporate reality within all industries. The experts at Opportune are equipped with the experience and acumen to assess, counsel, and negotiate such disputes at any stage. Our professionals have strong, high-level backgrounds in the oil and gas business, and a three-decade track record in successful dispute resolution consulting. We tailor solutions to energy companies’ specific needs, including providing expert witness testimony.

Opportune works with attorneys and their clients in the early stages of a case to help determine whether settlement, mediation, arbitration, litigation, or a combination of these methods is the most appropriate and cost-effective solution. Our practice centers around assessing the financial merits of a claim and developing financial damage models specific to it. We can assist in the problem discovery process, analyze financial records and business operations, and work with legal counsel to understand potential courses of action and determine recovery strategies. For additional information, click here.

John Echols

PartnerOpportune LLP