Jonah Energy LLC (“Jonah”) is an exploration and production (“E&P”) company. Jonah acquired the Jonah Field located in Sublette County, Wyoming from Encana Corp. on May 12, 2014. At the time of the Encana acquisition, Jonah had a skeleton management team and limited infrastructure for operating an E&P company. Because of their limited infrastructure, Jonah entered into a long-term Transition Service Agreement (“TSA”) charged on a variable price based on hours dedicated by Encana personnel.
Opportune professionals were engaged by Jonah Energy to provide the following services:
An Opportune team worked to create routine and seamlessly managed reports and procedures. Our team was successful in establishing the following:
Because of Opportune’s efforts, Jonah transitioned-off of the acquisition TSA as originally forecasted at the time of the transaction. In addition to transitioning on-time, Opportune helped to reduce the overall cost of the TSA by reducing the need for Encana involvement.
Opportune employs a team approach to solving complex issues that facing management teams face in today’s evolving energy industry. Whether our clients need to improve financial reporting processes, seek to deploy or update technology systems with assistance from a professional technology consulting firm, or undertake a business transformation, we have the expertise to offer them substantial, clear-sighted recommendations and strategic support. Our expertise rivals the multi-national firms, while our focus on the energy market and personalized client service make us a unique player in this advisory arena, offering professional financial and technology consulting. For additional information, CLICK HERE.