The client required a strategic analysis of the regulatory requirements and potential risks associated with the acquisition of an interstate natural gas pipeline from a production company. The project included a detailed report outlining the steps required for the seller to abandon and the purchaser to acquire and operate the pipeline. The report also highlighted regulatory and non-regulatory strategic issues that impact a regulated entity for the client’s consideration.

Retained as expert witness and to provide cost of service, cost allocation and rate design analysis for a natural gas producer, a natural gas marketer, and an electric power generator. Provided affidavit focusing on a) rolled-in pricing and b) the unsupported nature of the shared service expenses proposed by the pipeline, on behalf of one client in opposition to the proposed rate case settlement.

On behalf of a major oil producer, Mr. Porter led a team that was engaged to provide a second opinion and review rate case options for an oil pipeline. The team evaluated the operations and financial performance of the pipeline compared to a peer group and developed studies supporting revenue enhancement strategies and rate case filings before federal and state regulatory agencies. The engagement produced a negotiated settlement with the shippers that significantly increased cash flow and operating margins.

On behalf of a midstream entity, the engagement included developing and implementing a series of training sessions for accounting staff to promote compliance with regulatory accounting rules and regulations and to increase sensitivity to impacts of accurate accounting records on pipeline earnings. The engagement included preparation of outlines for training programs, preparation of training materials, presentations and training of accounting staff and coordination of effort with compliance team and CFO.