Energy Company Allegedly Misallocates Capital Expenditures


Energy ExpertThis case involves a class action against an energy storage company. The class action was filed on behalf of a putative class of the limited partners of the company regarding conflicts in the amounts of quarterly distributions to the limited partners through the allocation of capital expenditures for accounting purposes. This suit sought to compel the energy company to act in accordance with the terms of the partnership agreement and sought money damages for past harm inflicted. A senior business or financial expert with a practical understanding of the enhanced oil recovery process and experience working for an energy company was sought to discuss how capital expenditures should be allocated in this case.

Question(s) For Expert Witness

  • 1. Have you worked for an energy master limited partnership on the business side in an executive or senior financial/accounting capacity?
  • 2. Are you familiar with the rules governing capital allocation and disbursements for energy MLPs?

Expert Witness Response E-021315

I served as managing director of mergers and acquisitions for RBC Capital Markets, concentrating on North American Upstream, MLP, and oil field services companies. I am very familiar with the subject matter at hand.

Expert Bio:

This expert is currently providing independent strategic advisory and consultancy services to companies in the Energy & Natural Resources sectors. Prior to his current role as independent advisor, he served in the role of Chief Financial Officer for an energy corporation. Bringing his extensive background of more than 19 years in investment banking and the focus of the last decade of his career in the energy sector, he oversaw all finance and accounting functions, as well as investor relations and business development.

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