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Upstream Oil and Gas E&P Asset Acquisition Buy‐Side Due Diligence and Post-Closing Support

Top SME’s Combined with Proprietary Technology to Assist with a $1.8 Billion Acquisition

Project Challenges:

A global private investment firm was participating in a competitive bid process pursuing the acquisition of the Jonah Natural Gas field assets located in the Wyoming Green River Basin which consisted of over 1,500 wells and ancillary production operations facilities. The client needed diligence that expressly evaluated potential environmentally-related production constraints including pending Federal & State NEPA/EIS determinations specific to the greater sage grouse habitats and state non-attainment air emissions compliance working environment parameters.

Based on the potential localized constraints, the client requested site inspections for over 400 key sites, including comprehensive environmental due diligence as well as liability assessment. All work had to meet the bid schedule to be completed within 30 days for sale closing.

TRC Solutions:

  • Assembled a due diligence team of subject-matter experts (Air/Water/Waste/Remediation/Compliance/NEPA/EIS) to thoroughly evaluate the asset locations and assess the potential risks.
  • The TRC field inspection team, consisting of 8 site inspectors equipped with I-pads and proprietary data collection tools, implemented an asset-wide inspection program and catalogued over 400 sites. With this system the work was completed within a single week.

Client Benefits:

  • The deal successfully closed, and the buyer was able to timely evaluate and successfully complete the $1.8 Billion acquisition within the original 30 day contract period.
  • The client had the data necessary to beneficially negotiate the transaction. TRC assisted in the transaction closing by providing the client with specific prescriptive permit transfer requirements and guidance.
  • The client had tools and information to quickly integrate the new assets. We developed and then provided the client with an interactive asset geo-database of site GPS mapped locations, with over 1,800 site photos, equipment inventories and regulatory permit registration listings.

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Turn to the experts at TRC.

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