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opportune

www.opportune.com. About Us. We are a Houston-based consulting firm assisting clients with financial due diligence on acquisitions, SEC filings, technical accounting research, energy trading risk management and dispute resolution

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opportune

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  1. www.opportune.com

  2. About Us • We are a Houston-based consulting firm assisting clients with financial due diligence on acquisitions, SEC filings, technical accounting research, energy trading risk management and dispute resolution • We have experience in many industries, including energy (E&P, midstream, refining and trading), services, construction and finance • We provide accounting and land administration outsourcing through PetroAcct

  3. PetroAcct, L.P. Revenue Financial Reporting IT PetroAcct Conversion JIB/Property Treasury Accounts Payable Regulatory Reporting Production Accounting Land

  4. MLP Accounting Issues • Parent • Consolidation • 1. Possibilities • a. Full • b. Equity • c. Proposal Consolidation • 2. Related Issues • a. Discontinued Operations • b. Goodwill • c. Taxes • Gains or loss on sale • Transfers after IPO

  5. MLP Accounting Issues • MLP • A. Determination of Predecessor • B. Periods to be presented • 1. Carved-out financials • 2. Acquisitions • C. Carry-over basis • 1. Historical • 2. Set-up • D. Pushdown (loosely defined) • 1. Debt and related interests costs • 2. Parent allocation of G&A • 3. Goodwill • E. Long-term incentives for employees • F. Transfers after IPO

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