Opportune was engaged by a U.S. multinational financial services company to provide restructuring advisory to the lender group of a pure-play Eagle Ford oil and gas operator (“the Company”). Opportune’s in-house engineering firm, Ralph E. Davis Associates (RED), provided a technical review of the Company’s reserves in two phases:
RED’s technical and financial analysis recognized that the Company’s projections significantly underestimated the future operating costs and overstated the recovery of their future drilling activities. RED provided important input to the Company’s financial model that allowed Opportune’s Restructuring team to advise the lender group through the Company’s bankruptcy process.
In addition to providing critical information about the future performance of the assets, RED identified and advised the lenders on potential asset-specific risks they faced, allowing them to make informed decisions along each step of the process. For more information, CLICK HERE.