A Houston-based oil and gas company (“the Company”), which focuses on acquisition and development opportunities in select onshore basins in North America, recently closed a private equity-backed deal to acquire roughly 200 operated and non-operated wells in the Delaware Basin. The Company produces over 10,000 bbl/d from said wells spread across 20,000+ net acres in Texas’ Loving, Ward, and Winkler counties. As a startup, the Company was also tasked with implementing a new ERP system and other supplementary systems to accommodate their authority for expenditure (AFE), accounts payable (AP), land, production, and well data.
The Company engaged Opportune LLP to assist with financial due diligence efforts to support the acquisition and lead the software implementation and conversion efforts. The scope of services performed included:
Opportune, alongside Quorum, played integral parts in the successful implementation of the Company’s new systems and the integration of data into said systems. Opportune’s experience, coupled with Quorum’s technical knowledge, allowed the team to seamlessly integrate data into five separate systems simultaneously. The conversion process required migrating thousands of data points to Quorum applications via dozens of conversion templates. The Company is an early adopter of the Quorum On-Demand suite, which is intended to be a turnkey, fully integrated, upstream software solution that is easily tailored to meet each client’s needs. The Company is now operating its newly acquired assets and the Opportune team was able to bring the project to a close on time and under budget.
Opportune’s team of professionals had the depth of industry knowledge and energy expertise to ensure that the Company’s asset integration was 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, CLICK HERE.
When you choose Opportune, you gain access to seasoned professionals who not only listen to your needs, but who will work hand in hand with you to achieve established goals. With a sense of urgency and a can-do mindset, we focus on taking the steps necessary to create a higher impact and achieve maximum results for your organization.Leadership