James Gray Consulting, LLC
Jim Gray is a forensic accountant and a financial analyst. He has over 15 years of experience helping clients understand the financial impact of something gone wrong. Mr. Gray has served in both testifying expert and privileged consulting roles. He has led assignments heard in federal court and state court venues, arbitrations, as well as in regulatory proceedings.
Mr. Gray’s broad case experience includes matters relating to oil and gas, insurance and financial services, manufacturing, retail, real estate, and construction. His recent case experience has focused heavily on oil and gas disputes, including under/overpaid royalties, overcharges and other disputes between working interest partners, and the financial implications of contract interpretations. Other assignments have included post-acquisition settlement calculations, regression modeling, high volume accounting data, and so forth. Regardless of the specific case intricacies, his assignments typically include a lost-profit component, a valuation issue, or suspicion of fraud.
Mr. Gray is formerly a partner with a regional accounting and economics services firm. In years prior, he practiced with Alvarez & Marsal and Arthur Andersen. He is a Certified Public Accountant, a Chartered Financial Analyst Charterholder, and a Certified Fraud Examiner. He holds a bachelor’s degree in Accounting and a master’s degree in Finance from Texas A&M University.
When out of the office, Jim enjoys spending time outdoors with his family and, in particular, coaching his oldest daughter’s softball team.
WHAT WE DO
Calculated damages to working interest owners and royalty owners resulting from gas gathering and compression fee overcharges under the operator’s affiliate gas gathering agreements.
Calculated damages of numerous royalty owners resulting from inappropriate post-production
Evaluated losses claimed by an aircraft manufacturer allegedly resulting from the departure of a sales person to a competing manufacturing company. Involved an inspection of highly redacted accounting records to identify components of saved expenses not considered by the opposing expert.
Evaluated potential losses of a discount retail store assuming a decrease in available inventory space. Involved the use of a multiple regression model to evaluate changes in revenue based upon differences in building sizes and transaction counts.
Evaluated and critiqued an opposing expert’s damages model related to alleged losses suffered by a for-profit university due to its advertising agency.
Determined unpaid commissions due to a partner of an electricity brokerage company through an evaluation of the accounting information and business records. Provided expert testimony in deposition.
Calculated investment amounts of a mid-size E&P company and net proceeds resulting from properties that were the subject of an alleged lease termination. Assisted counsel to determine whether gas royalties were paid in accordance with the lease.
Calculated post-acquisition cash true-up amounts for a private equity firm’s purchase of oil & gas assets from a public E&P firm.
Performed a cash flow solvency analysis for a large financial services firm that allegedly defaulted on an interest rate swap transaction during the financial collapse of 2008.
Analyzed the working capital accounts of a major US industrial cleaning company for a post-acquisition
purchase price adjustment.
Calculated the business loss of a division of the State of Louisiana affected by Hurricane Katrina.
Evaluated and corrected a lost profits model proffered by a plaintiff complaining of losses related to a gas purchase contract. The analysis involved a detailed analysis of a logarithmic multiple regression model that attempted to predict how gas flow rates are affected by changes in pressure. The dispute also included an evaluation of gas revenue accounting and allocations to working interest owners.
Reviewed a complex multiple regression energy savings model proffered by an energy consultant. Compared the existing model to underlying documents. Recalculated the value of energy savings based on a separate model.
Investigated potential fraudulent activity of a trucking company perpetrated against an E&P company with operations in South Texas. Investigated a potential ghost-employee billing scheme as well as falsified trucking services.
Evaluated and quantified a kick-back scheme involving an oil field services company and one of its vendors. Investigation included a review of underlying documents and existing expert reports.
Managed the FEMA claim process for a large Louisiana public school system affected by Hurricane Katrina.