5 Ways Opportune Adds Value To Law Firms

ADDING VALUE TO

LAW FIRMS

Our unique combination of disciplines in accounting, finance, engineering and IT helps us solve the most complex challenges in the energy space. Our deep energy sector expertise adds value to clients across the energy industry, including upstream, midstream, downstream, oilfield services, power and gas and commodities trading. In 2017, Opportune launched Dacarba LLC, a wholly-owned subsidiary of Opportune LLP. Dacarba LLC is a professional services firm serving multiple industries beyond energy. Dacarba assists clients that are facing financial or operational distress, dealing with complex business and legal issues, seeking to improve performance and rationalize cost structures, or in addressing the countless other challenges inherent to transacting in a complicated and fast-paced global marketplace. For more information, please visit www.dacarba.com.

VALUE ADDED TO CLIENTS THROUGH:

IPO SUPPORT

RESTRUCTURING

DISPUTE RESOLUTION

RESERVE ENGINEERING

VALUATION & TRANSACTION ADVISORY

Our mission statement is simple, but direct: Add value to clients.

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CL I ENT TEST I MON I AL : I recently worked with Opportune teams on three different deals. Each of those deals was complex, had very short fuses and was a ‘company in the balance’ type situation. Opportune brought the hard work and creativity to bear that resulted in the best possible outcome in each instance. The Opportune team is full of consummate professionals who can handle any situation and they are the first team I think of when one of my clients is faced with operational or financial challenges.

— Chris Dickerson, Partner, Paul Hastings LLP

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RESTRUCTURING

Opportune serves corporate clients, secured lenders, unsecured creditors and investors to enhance investments and protect returns during times of operational and financial crisis. Opportune’s approach to providing corporate restructuring services involves leveraging our service lines in a thoughtful and action-based manner. With strength in energy, our restructuring services include:

• CORPORATE RESTRUCTURINGS • FINANCIAL REVIEWS AND PROJECTIONS • CLIENT ADVOCATE AND NEGOTIATIONS

• INTERIM MANAGEMENT • PROCESS IMPROVEMENT AND RISK MANAGEMENT • LITIGATION SUPPORT AND EXPERT WITNESSES

Serving as a restructuring advisor to clients, Opportune routinely performs valuations on assets and analyzes tax effects related to the plan of reorganization. We are called on to assist our clients in a number of ways, including:

DEBTOR IMPROVEMENTS

DIRECT CONSULTING TO LENDERS

• Develop and maintain cash forecasting models • Deliver clear valuations of complex structures • Negotiate forbearance and cash collateral agreements • Provide industry expertise related to energy divestitures • Deliver timely and informative reports • Assist in developing achievable covenants • Valuation on an entity-by-entity basis

• Develop core business plans • Create reliable forecasting models • Reduce the costs to operate • Shed non-essential operations • Develop viable plans for working capital • Redefine long-term financing options

Since inception, Opportune has been one of the most active financial advisory firms in the energy sector.

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DISPUTE RESOLUTION

Opportune works with attorneys and their clients in the early stages of a case to help determine whether settlement, mediation, arbitration, litigation or a combination of these methods is the most appropriate and cost-effective solution. Our practice focuses on assessing the financial merits of a claim and developing financial damage models specific to it. We can assist in the problem discovery process, analyze financial records and business operations and work with legal counsel to understand potential causes of action and determine recovery strategies. We are seasoned at finding misappropriated funds, negotiating claims and calculating damages. In the event your institution finds itself in a dispute — or your customer finds themselves in a dispute that threatens its ability to service its loan — consider Opportune’s dispute resolution team. Opportune provides the following dispute resolution-related services:

• Business interruption • Calculations of loss • Claim negotiations

• Economic damages • Royalty disputes • Valuation services

• D&O claims • Purchase price disputes • Construction disputes

• Forensic investigation

VALUATION & TRANSACTION ADVISORY Opportune’s consultants are industry experts with a wealth of knowledge and experience in all things energy, including mergers and acquisitions, valuing businesses and assets, tax structuring and complex debt and equity infusions of capital.

We are highly qualified to deliver the following services during the due diligence phase: • Quality of earnings assessments • Review of acquisition closing statements • Tax structuring • Financial reporting considerations of structuring alternatives • Enterprise risk assessment • Cash-flow analysis • Business contract review • Identification of operational/financial concerns • Information systems assessment • Data migration plans • Forensic reviews

We help clients with: • Purchase price allocations • Business enterprise and legal entities

• Tangible assets • Intangible assets • Goodwill and asset impairment tests • Derivative instruments • Collateral • Minority interests • Complex performance units • Debt instruments • Land due diligence supporting acquisitions, divestitures and RBL support • Fairness opinions

• Verification of regulatory reporting compliance • Review of commitments and contingencies

After the transaction is completed, we help our clients with: • Transaction integration • Purchase price allocations for both financial reporting and tax • Outsourcing • Final settlement review verifications

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RESERVE ENGINEERING

Our in-house reserve engineering teams integrate both technical and economic analysis to deliver commercial value to our clients.

Our services include: • Certification and financial analysis of reserves • Expert witness and litigation support • Process engineering • Preparation of engineering reports • Preparation of Competent Person’s Reports • Risk assessment and portfolio management

• Reserve audits • Third-party reserve reports • Contract negotiations • Field development studies • Preparation of engineering reports

IPO SUPPORT

Opportune is typically engaged at the same time a company chooses its lead underwriter and securities counsel. We assist management in understanding the registration statement reporting requirements and all available choices in complying with those requirements. Opportune is nimble in its ability to supplement the client’s existing resources or bring in an entire team to lead an IPO. Example registration statement–related services include, but are not limited to: • Forecast cash flow and earnings models to assist in determining monetization strategies • Apply S-X 3-05 to identify significant acquisitions and filing requirements • Prepare carve-out financials and footnotes • Draft predecessor financial statement, footnote and MD&A sections • Prepare pro forma financials and footnotes

Opportune works with our clients, their auditors and the SEC to identify and request unique alternatives that may permit omissions, or alternative disclosures, to explicitly stated S-X requirements. Opportune is routinely asked to: • Draft SEC pre-clearance letters • Draft and manage responses to SEC comment letters • Assist management to build and work within a reporting calendar in order to meet IPO and subsequent deadlines • Coordinate registrant and Rule 3-05 audits

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CORPORATE HEADQUARTERS 711 Louisiana, Suite 3100 Houston, Texas 77002 Phone: 713.490.5050

NEW YORK OFFICE 10 East 53rd Street, 33rd Floor New York, New York 10022 Phone: 212.388.4000

DALLAS OFFICE 2000 McKinney Avenue, Suite 1200

OUTSOURCING OFFICE 4424 W. Sam Houston Parkway North, Suite 200 Houston, TX 77041 Phone: 713.772.0664

Dallas, Texas 75201 Phone: 214.978.6000

DENVER OFFICE 1200 17th Street, Suite 1200 Denver, Colorado 80202 Phone: 303.632.9000

TULSA OFFICE 401 South Boston Avenue, Suite 3000

Tulsa, Oklahoma 74103 Phone: 918.994.5440

EMEA HEAD OFFICE 4-6 Throgmorton Avenue London EC2N 2DL United Kingdom Phone: +44 20 7849 3110

WWW.OPPORTUNE.COM

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