Wayne Wilson is a managing director with the Claro Group and leads the firm’s international energy arbitration practice. He is a certified public accountant with over 25 years of experience providing consulting services and expert testimony to international energy clients across the globe. He has provided expert evidence before the LCIA, ICSID, AAA, ICC, SIAC, HKIAC, ECHR, and in state and federal civil courts within the USA.
Wayne’s areas of expertise include finance; accounting; statistics; energy industry customs and procedures; and risk management. He has provided expert testimony on topics including Generally Accepted Accounting Principles (GAAP); International Financial Reporting Standards (IFRS); SEC financial reporting for international entities; financial modelling; damages calculations; valuations; financing decisions; valuations of financial derivatives; risk management in trading organisations; internal control structures; overall organisational design; forensic analysis of management decision making; reviews and valuations of trading positions; analysis of off-balance sheet structures; analysis of structured financing transactions; due diligence; international project valuations; international energy regulations; international production sharing agreements; lost profits calculations; and joint venture contract audits.
Mr Wilson’s expertise in the petroleum industry includes crude and natural gas reserves valuations; commodity pricing; accounting for production; accounting for refined and processed products; transportation pricing; transfer pricing; valuation of energy companies; accounting and audits for joint interest billing; and valuation and accounting for energy derivatives. Wayne has experience in the exploration, production, trading, transportation, petrochemical, olefins, and refining and processing segments within the petroleum industry. He recently served as the expert on a delay damages dispute and a cost-recovery matter related to deepwater West African offshore projects.
Wayne’s expertise in coal includes mining operations’ trading of coal; and coal-based power generation. He has provided testimony on accounting and cost allocation as well as valuations for coal mining operations. He has valued coal trading books and opined on the appropriate accounting for coal trading activity. Finally, he has valued coal-based power generation operations, and evaluated the impact of distribution and market changes on those values. He was recently involved in an arbitration where he rebutted the damages assessment of the expiration of a contract related to the development of a coalbed methane project in China.
His expertise in the power industry includes valuation of power projects (both generation and distribution); valuation and accounting analysis of financial derivative positions for power; contract audits of local distribution companies; and power marketing best practices (including financial, accounting and managerial). He was recently engaged to perform a damages assessment for a South East Asian company that acquired a concession for electricity transmission throughout the country.
The Claro international energy arbitration group specialises in matters specific to the energy industry, and to commodities-driven disputes across the globe. The Houston-based team is comprised of individuals with varying backgrounds and skillsets. It includes professionals with energy expertise in finance, accounting, investigations, operations, risk management and commodity trading. As a result, the group is able to bring multidisciplinary solutions to solve the complex problems faced by today’s multinational companies.
Mr Wilson’s energy-related international arbitration work has also included: rebutting the valuation assessment of drilling interests in a natural gas development project in Papua New Guinea, which required the consideration of LNG logistical issues; valuing a petrochemical facility in Eastern Europe; testifying in a dispute between a large Eastern European oil company and the Russian government over the retroactive application of taxes and enforcement actions by Russia; testifying on the application and meaning of accounting standards, including a recent dispute involving contingent liabilities in the Middle East; opining on damages due to a failed Eastern European merger in the energy industry; testifying on the value of assets related to a US Chapter 15 bankruptcy case involving assets throughout Eastern Europe; testifying on damages related to the expiration of an LNG supply contract in the Caribbean; calculating bonuses due to a gas processing operator and rebutting cost analysis relevant to the construction of the gas processing plant in Kazakhstan; and providing testimony on market commodity pricing (natural gas, crude oil, and LNG) in the USA, Canada, Eastern Europe, Africa, Asia and Latin America.