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Upstream: Transactional Advisory: Merger Integration

A Houston, Texas-based publicly traded oil and gas operator with operations in Texas, Louisiana, California and the Rockies (“the Company”) completed a merger of equals with a Tulsa, Oklahoma-based operator (“the merging entity”). The merger resulted in the Company incorporating Oklahoma assets into their existing portfolio. The Company runs a lean back-office staff and much of the merging entity’s staff would not be retained at the conclusion of the transaction.

Opportune’s professionals were engaged to assist the Company in all aspects of the merger integration effort. Opportune’s objectives were to manage the overall integration while also completing the data conversion from Enertia to BOLO and AFE Navigator. In addition to the merger, the Company was also completing a major system upgrade of its BOLO and Merrick applications, which was to coincide with the merger effort. Opportune was expected to oversee completion of the system upgrades and provide best practice guidance throughout the upgrade project. A few highlights of the Opportune team’s merger integration and conversion efforts include:

  • Validated and tested data prior to and following transformation
  • Performed high-level data cleansing during conversion effort
  • Prepared conversion templates and uploaded files for master data and historical transaction data
  • Validated BOLO upgrade
  • Created conversion design documents detailing the conversion processes; data considerations, mapping and data issues were also addressed
  • Provided ongoing support as merger was finalized and asset integration was completed

Opportune’s efforts in managing the integration and data conversion were essential to the overall success of the merger for the Company, which lacked internal resources necessary to complete the effort on their own. Our team directed the process to obtain and validate all initial data sets, perform data conversion, review data and upload it into BOLO and AFE Navigator. Opportune provided guidance and expertise on all integrations, offering clear-sighted and substantial recommendations where questions on best practices regarding conversion were concerned. An additional complication in this engagement was that all data conversion efforts needed to be in sync with the system upgrade. Opportune’s experience with BOLO upgrade engagements meant that we were uniquely positioned to understand the complexities and fend off any potential complications prior to major issues coming to fruition.

Opportune’s team of professionals had the depth of industry knowledge and energy expertise to ensure that the Company’s merger and subsequent asset integration was successfully completed. The team approach to solving the Company’s needs allowed for strategic support from all angles. We bring value to our clients on merger and acquisition engagements through the timely execution of each critically important component that we are assigned. For more information on our Outsourcing and/or Merger Integration services, click HERE and HERE.

Byrony Coan

DirectorOpportune LLP