Experience Highlights

  • CRO and CEO of Pacific Exploration and Production (TSX:PEN), a mid-cap company with upstream exploration and 100,000 barrels per day of production, long-haul pipelines, and seaport operations and assets in Colombian and Peru and $6 billion of debt. Led and guided the company through the Companies’ Creditors Arrangement Act process in Toronto and afterwards to a strong financial and operating position at exit from bankruptcy six months after filing while managing downsizing operating challenges including 50 percent staff reductions and substantial production changes.
  • CRO and CEO of ATP Oil and Gas, assuming executive leadership shortly after its bankruptcy filing of this deeply troubled, Gulf of Mexico offshore operator with $5 billion of total obligations, and guided it through a complex 22-month bankruptcy. Results included amending a tight debtor-in-possession loan agreement, bringing new wells into production at 22 million barrels of oil equivalent per day on a deep water platform, successfully satisfying BOEM/BSEE regulators on $300+ million of decommissioning liabilities, and working to resolve unique capital structure issues. Provided extensive testimony on company issues throughout the case.
  • CRO and CEO of RAAM Global Energy, taking over CEO/CRO position prior to bankruptcy filing, and led this offshore and onshore operator with $335 million of debt through a three-month bankruptcy with a successful asset sale via credit bid and a confirmed consensual plan of re-organization. Right-sized operating and G&A costs while sustaining production operations and full regulatory compliance and satisfying substantial decommissioning demands in this complex case with multiple competing constituents.
  • One of five very active directors of Enron Corporation guiding the post-bankruptcy resolution of issues and liquidation of this high-profile company that provided payments to creditors at three times projected levels and paid out $22+ billion to claimants. Directors provided direct leadership on a complex array of operating and distress issues in a very highly visible situation spanning ten years of service as a director.
  • For Energy Partners Limited (NYSE:EPL) served as chair of the Compensation and the Restructuring Committees and member of the Audit Committee during its first bankruptcy, and as an independent Board member and chair of the Special Committee during its second bankruptcy of this restructured oil and gas company.
  • For Crusader Energy, assumed CRO position shortly after filing and achieved a confirmed plan of reorganization within nine months. Major issues involved guiding a protracted and complex sale process, resolving inter-creditor issues in multi-level capital structure, and sustaining continuing operations satisfactorily to maintain value, Ultimate sale provided three times more cash and 20 percent more value than stalking horse bid.

Bringing valuable perspective that gives clients an advantage.