Upstream: Transactional Due Diligence: Acquisition Data Integration

Upstream: Transactional Due Diligence: Acquisition Data Integration

A publicly traded North American exploration and production company (“the Company”) is one of Canada’s largest independent oil and natural gas producers with operations in North Dakota, Montana, Pennsylvania, and western Canada. Through the acquisition of a Texas-based oil and gas producer (“Seller A”), the Company expanded its asset portfolio and operated wells in North Dakota. During Opportune’s initial engagement to support this acquisition, the Company acquired additional assets in the Williston Basin from a separate global independent energy company (“Seller B”). This acquisition resulted in the Company further expanding its position in the Bakken.

READ MORE: Upstream: Transactional Due Diligence: Financial & Tax Due Diligence Procedures

The Company engaged Opportune LLP to assist with the conversion of Seller A and Seller B data onto their existing-hosted Quorum system. The scope of services performed included:

  • Provided project management and acquisitional subject matter expertise.
  • Integrated, converted, and tested all master data elements (business associates, wells, joint interest billing decks, revenue decks, authorization for expenditures, cost center allocations, and purchaser contracts), transactional data (open accounts payable, accounts payable outstanding checks, open accounts receivable, revenue outstanding checks, and legal/minimum suspense), and historical data (account payable and revenue checks) from OGSys (Seller A).
  • Integrated, converted, and tested all master data elements (business associates, wells, joint interest billing decks, revenue decks, and purchaser contracts), transactional data (legal/minimum suspense), and land agreements (contracts, leases, and right of ways) from SAP/QLS (Seller B) to Quorum.
  • Validated all data element mapping based on industry best practices and the Company’s preference.
  • Populated conversion design documents for data transformation.
  • Acted as liaison between the Company, the sellers, and the software vendor.
  • Provided ongoing support as the system was finalized and asset integration was completed.
  • Provided subject matter expertise for revenue processing and close.

Opportune added value by managing two major integrations and data conversions, which were essential to the overall success of the Company’s acquisitions. Opportune’s experience with Quorum engagements allowed the team to actively conduct two asset integrations simultaneously. The conversion process required the migration of thousands of data points to Quorum applications via the use of dozens of conversion templates. All templates were reviewed and tested, and all have made it into the production environment. The Company is now operating with both Seller A’s and Seller B’s legacy data and the Opportune team was able to bring the combined projects to a close on time and on budget.

READ MORE: Upstream: Transactional Advisory: Merger Integration

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

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Byrony Coan

Byrony Coan


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