Concurrent Environmental Due Diligence for Multi-State Oil and Gas Acquisitions

Client: Publicly Traded Upstream Oil and Gas Company

Challenge

An oil and gas company faced a complex transaction environment while pursuing two large acquisitions across three states. Although the transactions were expected to close in different fiscal quarters, schedule changes accelerated one acquisition and delayed the other, triggering both due diligence projects in the same week. The challenge was compounded by significantly different diligence requirements, deliverables and stakeholder expectations across the two transactions, creating competing inspection schedules, resource constraints and data room demands.

Solution

Altamira managed an integrated due diligence program that executed both acquisition workstreams concurrently while adapting to the unique environmental defect provisions of each transaction. The team developed a master project schedule supported by asset-specific subplans and implemented a centralized system for managing requests, responses and report version control. Core diligence activities, including field inspections, regulatory reviews, quality assurance, issue tracking, reporting and stakeholder communications, were standardized across both projects, while deliverables, review cycles and approval processes were customized to align with each acquisition’s specific requirements for identifying compliance issues and potential liabilities.

Results

Altamira delivered both due diligence programs on time, providing a comprehensive assessment of regulatory compliance status, field conditions, potential fines and environmental cleanup obligations that could have transferred with the assets. The team’s findings translated complex environmental risks into clear, actionable business information, creating significant value during negotiations. Armed with this documentation, the client was able to better evaluate risk, negotiate favorable terms and make more informed acquisition decisions.

For more information, please contact Trey Whitley or Colby Lowrie. 
Trey can be reached at [email protected] & Colby can be reached at [email protected]

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