Refinery Acquisition and Divestiture Due Diligence
Performed due diligence on behalf of potential sellers and buyers on refineries being offered for sale. Work included assistance with discovery, analysis of refinery yields, operating costs, investment plans and preparation of financial models to support the valuations of the refineries. Activities involved data room document reviews, determination of value using the discounted cash flow (DCF) approach, site reviews and management interviews.
Acquisition of Gas Distribution Company
On behalf of a natural gas utility, inspected pipeline facilities and reviewed natural gas supply and marketing issues for a potential acquisition candidate. Conducted operations review and an analysis of staffing levels.
Acquisition of Crude Oil Gathering System
Conducted technical and economic due diligence on behalf of commercial bank in conjunction with the financed acquisition of a crude oil gathering system from a major oil company.
Midstream Due Diligence
Assisted energy distribution company with due diligence for potential transaction involving gas gathering and processing assets in Permian Basin including over 4,000 miles of gas and liquid pipelines, four gas processing plants, and multiple gas treating plants. Participated in data room reviews and management presentations with a focus on commercial, operational, and technical evaluations of midstream systems. Prepared comprehensive economic model of the integrated gathering and processing assets that was used to determine valuations and evaluate key sensitivities.
Due Diligence For Petroleum Products Pipeline Investment
Evaluated the projected shipping volumes, revenues, tariffs, expenses, product mix, and market response of customers and competitors for a new high capacity refined products pipeline serving the southwest U.S. Due diligence and economic modeling was performed for prospective equity investors in the pipeline.
Assess new technology for purifying natural gas well water production
Reviewed equipment design, specifications, and test results for new skid mounted evaporative production water purification system.
Petroleum Terminal Due Diligence and Market Value
Performed due diligence of petroleum and chemical storage terminal including tanks, docks, rail and trucking loading facilities. Inspected site, conducted interviews and reviewed records. Developed market value report.
Midstream Due Diligence
Conducted due diligence on gas gathering and processing assets located in Southeast New Mexico and West Texas on behalf of lending group and prospective purchaser. Activities included physical inspection of facilities, review of operation and maintenance records, assessment of gas supply and competitive position, and review of economic assumptions and projections to ensure consistency with current gas supply contracts and asset performance.
Crude Oil Pipeline Evaluation
Commercial finance firm required investigation on behalf of a refinery whether to purchase an existing idle crude pipeline in need of rehabilitation or to build a new crude pipeline to supply refinery. Recommended the construction of a new pipeline which subsequently occurred.
Natural Gas Treating Facility
Rendered expert opinions related to an inactive sour gas treating facility located in Montana. Plaintiff's claims of carbon dioxide contamination of a natural gas producing formation were successfully defended by demonstrating non-compliance with applicable air emission permits and inadequate due diligence by the plaintiff prior to acquisition of the treating facility.
Gas Plant Due Diligence
Conducted due diligence on two sour gas processing and treating facilities in Alabama on behalf of potential acquirer. Activities included facility inspection, review of operation & mainteance records, staffing levels, integration opportunities, and forecasted capital expenditures.