Cordes & Company

In re-opened divorce, Cordes to value vast oil and gas holdings

 

A divorcing couple’s marital estate included $28.5 million in oil and gas holdings -- including financial interests in 15,000 to 25,000 producing and non-producing oil and gas wells, and close to 2 million acres of undeveloped land.  These assets were located in 108 counties in 14 different states.  The 2010 divorce involved a complex and comprehensive settlement agreement.  In 2011, the wife discovered what she believed to be a disparity between the assets she now owned and those owned by her ex-husband.  In 2013, the trial court granted the wife’s motion to re-open the divorce and examine the allocation of marital assets.  The court appointed a special master, who recommended in 2014 that the property division be re-opened and that the court appoint an independent expert qualified in the oil and gas industry to determine and value the extent of the undeveloped drilling acreage, undeveloped drilling locations and undisclosed entities.  In 2015, the court appointed Cordes & Company to fill this role.

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