Valuations

Crude Pipeline Gathering System Economic Study

Reviewed 500-mile domestic crude gathering system logistics and crude delivery economics.  Provided recommendation on possible divestiture, crude oil processing economics, and consideration of alternative crude oil supply sources.   

Fair Market Valuation of Compressor Station

Determined the value of a large compressor station on an interstate natural gas pipeline system for the purpose of proper assessment of property taxes.  Valuation considered comparable sales, depreciated replacement cost, and discounted cash flows.

Refinery Market Value

Performed economic evaluation of a large Gulf Coast refinery to determine the probable range of sale price.  Evaluation performed for a prospective buyer of the refinery. 

Review of Economics for Carbon Dioxide (CO2) Pipeline and Tertiary Crude Oil Recovery Project

Provided arbitration testimony concerning the viability of tertiary recovery and the developer’s project economics evaluation methodology.

Refinery and Marketing Joint Venture Valuations

Evaluated potential synergies of U.S. downstream joint ventures between several integrated oil companies, assessing the market value of the individual company’s downstream assets, and the potential combined value. Participated in management discussions between companies exploring possible combinations.

Refinery Valuation

Determined historical earnings of a bankrupt Midwest U.S. refinery for dispute between previous and current owners.  Sales contract contained provisions which were in dispute for potential earn out payments between buyer and seller.