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Energy

Energy Tabs

  • Bankruptcy & Restructuring

  • Forensic Accounting & Litigation Support

  • Corporate Finance & Valuation

  • Representative Matters

     

    • Financial Advisor to the Official Committee of Unsecured Creditors in the bankruptcy of Signal International Inc., an oilfield services company.
    • Financial Advisor to US Coal Corporation, a $200 million coal producer, in its bankruptcy.
    • Financial Advisor to Magnesium Corporation of America, the largest U.S.-based processor of magnesium and the largest producer of chlorine gas in the Western U.S., in its bankruptcy.
    • Financial Advisor to the Official Committee of Unsecured Creditors in the bankruptcy of Nova Holding Clinton County LLC et al., a 70Mgy multi-location biodiesel producer.
    • Financial Advisor to a European bank on proprietary issues related to its position in a syndicated loan to a bankrupt U.S. ethanol producer.
    • Financial Advisor to a bank in its capacity as pre-petition and DIP lender in the bankruptcy of its oil refinery borrower (AGE Refining).
    • Retained as financial advisor to GOE Lima, an ethanol production facility in Ohio, designed to produce 55 million gallons of ethanol annually, but never produced at capacity. GlassRatnerwas originally retained to analyze the financial, accounting and operational activities, lead the reorganization of internal functions, and assist in renegotiation of the company’s bank loans. After the company filed for Chapter 11, GlassRatnerwas appointed Financial Advisor to the Debtor, where we conducted a 363 sale of the assets.
    • Financial Advisor to the Official Committee of Unsecured Creditors in the bankruptcy of Levelland/Hockley County Ethanol, LLC, a Texas-based ethanol producer.
    • Interim Chief Financial Officer and Financial Advisor to a West Coast biodiesel producer.
    • Financial Advisor to Eagle Geophysical in connection with its restructuring.
    • Liquidating Agent for Borden Chemical & Plastics OLP.
    • Financial Advisor to the secured lenders of MIRANT Mid-Atlantic, LLC, a wholly-owned subsidiary of MIRANT Corporation and one of the largest power generation companies in the United States.
    • Financial Advisor to the Official Committee of Unsecured Creditors in the bankruptcy of White Energy, an ethanol producer.
    • Financial Advisor to the Official Committee of Unsecured Creditors in the bankruptcy of Blue Sun Energy Inc., a biofuel producer.
    • Financial Advisor to Covington Coal Company, a coal producer, in its bankruptcy.
    • Financial Advisor to the Official Committee of Unsecured Creditors in the bankruptcy of Murphy Energy Corp., a $1.4 billion midstream oil and gas services company 
  • Representative Matters

     

    • Forensic Accountant and Expert Witness on Behalf of the Department of Justice in the BP Deepwater Horizon Oil Spill Litigation related to BP's ability to pay fines of  $18 billion under The Clean Water Act. 
    • Retained as expert by Class Counsel providing analysis and opinions as to an energy company's foreign anti-corruption activities and disclosures, both pre and post-IPO, and their impact on company securities filings.
    • Expert Witness defending mobile fuel company's former outside counsel in a legal malpractice claim for $100 million in alleged damages.
    • Expert Witness in a matter that concerned the capital markets financing of an oil and gas company.
    • Expert Witness in a matter related to the complex credit derivative financing for an oil and gas company.
    • Forensic Accountant to an oilfield services company with operations in Texas, Oklahoma, New Mexico, and Utah to provide financial statement reconstruction and investigation of alleged financial improprieties
    • Forensic Accountant to a publicly traded distributor of diesel fuel, gasoline, propane and lube products to investigate financial statement misstatements, inventory shortages, and alleged improprieties surrounding supplier agreements.
    • Conduct a forensic accounting review of an oil and gas exploration and production company on behalf of royalty interest holders.
    • Forensic Analyst and Expert Witness to analyze oil production from a large series of wells (oil patch) including the calculation of well-head output and overall value for product delivered through associated pipelines to distribution points for sale to refiners.
    • Conduct an investigation of the role of the lenders in financing various off-balance sheet transactions that contributed to the bankruptcy filing of a large energy trader.
    • Conducted FCPA due diligence on behalf of several US oil & gas exploration companies that were contracting with Pemex (Mexico) through third party intermediaries (“TPI”). Using local investigators conducted in-depth investigation reviewing civil and criminal records, media reports, and interviewing informants about TPI and owners. Provided investigation report to client with potential red flags for corruption.
    • GlassRatnerwas retained by a law firm on behalf of its client to perform due diligence procedures in connection with the contemplated purchase of certain assets of a multi-billion dollar energy provider who filed for bankruptcy. Procedures included, review of Board minutes and corporate documents; tracing transactions noted in the minutes and corporate documents to the subsidiary financial statements; review of the transactional intercompany history between the parent and the subsidiaries; and the evaluation of a substantial intercompany note.
    • Retained as expert witness related to various financial issues associate with claims by Seven Seas Petroleum, Inc. v. CIBC World Markets Corp. related to E&P assets in Columbia.
  • Representative Matters

     

    • ExxonMobil -Valuation of the worldwide assets of a super major petroleum company located in Texas for tax purposes. Assets valued include oil and gas reserves, refining and market assets and chemical plants.
    • Texaco -Valuation of the worldwide businesses of a super major petroleum company for US federal tax restructuring.
    • Quantum Resources -Valuation of producing and probable oil and gas assets for a Texas based acquirer of oil and gas properties to further expand their footprint.
    • Occidental Petroleum -Valuation of the worldwide oil and gas reserves of a US E&P company for US tax purposes.
    • Valuation of oil and gas reserves for a Canadian E&P company for financial reporting purposes.
    • Unocal -Valuation of the worldwide assets, including oil and gas reserves, and several chemical plants, of a California E&P for tax purposes.
    • Pisces Energy -Valuation analysis of offshore oil and gas assets in the Gulf of Mexico for litigation purposes.
    • Financial Advisor to an oilfield services company with operations in Texas, Oklahoma, New Mexico, and Utah to provide acquisition due diligence, capital projects analysis and financial statement reconstruction.
    • Financial Advisor to a hedge fund / private equity fund with portfolio companies engaged in drilling, exploration and production of crude oil and natural gas, and production of algae-based biodiesel.
    • Financial Advisor to Applied Natural Gas Fuels, Inc. to provide quarterly valuations in connection with quarterly FAS 157 portfolio valuations for its private equity owner.
    • Buy-Side Advisor to TransTexas Gas Corporation and to National Energy Group in connection with its acquisition of Alexander Energy.
    • Financial Advisor to a private equity group considering an investment in the only privately-owned U.S.-based linear accelerator.
    • Fund Committee member of Nth Power, a large energy technology fund, to evaluate potential investments.
    • Financial Advisor to Alexander Energy in connection with its merger with American Natural Energy.
    • Financial Advisor to CRC-Evans on its sale to LG&E.
    • Financial Advisor to Computalog Ltd on its sale to Precision Drilling.
    • Take-Over Defense Advisor to Kelman Technologies.
    • Sell-Side Advisor in the sale of Continental Natural Gas Corporation to CMS Energy.
    • Financial Advisor to Gothic Energy Corporation in connection with its recapitalization and drilling program.
    • Financial Advisor to Global Marine in its recapitalization and full reorganization.
    • Financial Advisor to Novistar in its sale to Petroleum Place for $24 million.
    • Financial Advisor to Altra Energy Technologies in its sale to Caminus for $85 million.
    • Financial Advisor to a publicly traded distributor of diesel fuel, gasoline, propane and lubrication products.
    • Financial Advisor to a producer of coal bed methane gas in the Power River Basin and Cherokee Basin.
    • Transaction Advisor to a diversified wholesale and retail oil product and services company.
    • Financial Advisor to a chemical manufacturing company related to potential merger & acquisition opportunities.
    • Financial Advisor to a manufacturer and distributor of proprietary marine coatings.
    • Financial Advisor to a chemical manufacturing company to provide a valuation of a minority interest in the company.
    • Financial Advisor to TransTech, a school bus manufacturer, in its potential merger with an electric chassis manufacturer.
    • Financial Advisor to Bolder Technologies, a high output battery manufacturer, in its equity raise.
    • Provided sell-side advisory services to an Oil and Gas Contractor servicing the construction and fabrication needs of energy firms throughout California with sale to public company in Oklahoma.
    • Provided turnaround and restructuring expertise to successfully navigate a Chapter 11 filing for a statewide contractor serving the oil and gas industry ($25MM) including the disposition of assets, debt restructuring, and operational efficiencies.
    • Valued the GP and LP components of Inergy, a publicly traded master limited partnership, related to litigation over the appropriate exchange rate for their merge.
    • Performed valuation and litigation support related to a shareholder buyout ofa $100MM+ privately held propane distributor.
    • Valued Modern Gas, a propane distribution company, for tax and transactional purposes.
    • Valued East Corporation, a propane distribution company, for tax and transactional purposes.
    • Financial advisor to Imperium Renewables, the largest biodiesel manufacturer in the U.S. at that time, in the out-of-court restructuring of its capital structure and turnaround of its business. Our team stabilized the operations and executed a rights offering raising additional equity allowing the company to survive the economic downturn and turn around its operations.
    • Valued Green States Energy, a solar energy company, for transactional and financial reporting purposes.

     

     

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