CAMS was tasked with supporting the acquisition of LINN Energy’s Wyoming-operated properties in the Green River Basin. The buyer did not have documented accounting and finance related procedures or established field processes and systems. The seller was undergoing a corporate restructuring which prohibited their ability to provide basic transition support. Additionally, the buyer’s management team had a history of non-op management, and were thus less familiar with the requirements for operators
CAMS created two new companies and transitioned executive and field employees to new entities. This included onboarding, interviewing, and training on the new companies’ goals. We designed and implemented back office and field systems, including accounting, production accounting, land, SCADA, and regulatory reporting. CAMS also hired and provided ongoing, outsourced finance, accounting, production accounting, regulatory, and human resources services to the new companies.
CAMS designed and implemented the new company structures and safely transitioned assets in 60 days. This was 30 days ahead of the 90-day TSA. We designed and implemented over $600K of accounting, geology, operations, and field measuring systems and infrastructure, including all data transfer activities. CAMS also staffed and transitioned all finance and accounting responsibilities to the internal CAMS team and produced timely and accurate monthly financial reports to the management team.