Dave Loucks

Industry Sectors

• Upstream
• Midstream

Principle Areas of Practice

• Asset Retirement Obligations (ARO)
• Lease Accounting
• Standard Measure of Oil & Gas (SMOG)
• Oil & Gas Reserves
• SEC Reporting
• Private & Public Debt/Equity Offerings
• Mergers & Acquisitions
• Energy Transition/ESG

Professional Experience

Dave Loucks is a Principal in the Complex Financial Reporting practice at Opportune based in Denver where he is primarily responsible for assisting clients with financial reporting for oil and gas operations. Dave is one of the country’s foremost experts regarding the reporting of asset retirement obligations (ARO) and the standardized measure of oil and gas (SMOG). Dave and his team developed and now implement the proprietary Assent 143 (ARO) and Assent Leases software applications. Before joining Opportune, Dave spent 14 years in public accounting, where he managed the audit engagements of clients in the energy and software industries. He also was the CFO of an INC 500 software company from 1998 to 2000.

Dave currently serves on the board of directors for the Colorado Society of CPAs and the River Deep Foundation. The River Deep Foundation is a non-profit organization dedicated to helping military veterans and other individuals who have experienced physical, emotional, or psychological trauma – and those who assist them – to heal and re-engage in life through adventure, recreation, and a network of support.

Dave previously served as the treasurer for the Rocky Mountain Victim Law Center, a Denver-based not-for-profit law firm providing free legal services to victims of crime in Colorado through its Victim Rights Legal Services, Legal Information Network of Colorado, and Title IX programs.

Representative Projects

• Dave and his team have been helping companies with ARO since 2007 with Assent 143. They have implemented Assent 143 for over 300 companies.
• Dave and his team on average have performed more than 50 SMOG calculations for annual reporting and in connection with transactions since 2009.
• Dave helps lead Opportune’s work around Topic 842 Leases, assisting clients with adoption, reporting, and implementing Assent Leases.
• Participated in drafting and reviewing of IPOs, S-4s. 10-Ks, 10-Qs, and discussions with the SEC surrounding comment letters.
• Managed financial due diligence and post-closing process for the acquisition and divestiture of oil and gas properties.
• Dave is a frequent speaker on oil and gas reserves and financial reporting issues.