DR. JACK YEAGER
Dr. Yeager has over 20 years of experience advising companies with commodity portfolios on ways to improve the management and performance of those portfolios, and nearly 15 years of experience doing the same for companies with energy portfolios. He has worked with energy producers, consumers, and marketers, as well as with operators and developers of energy infrastructure assets. He has also worked with non-energy commodity managers in the financial, agricultural, and construction sectors. Dr. Yeager has worked with energy traders, marketers, purchasers and project developers to model, analyze and improve their marketing & trading transactions and transactions strategies. He has also assisted in the structuring and negotiation of numerous transactions ranging from relatively straightforward bilateral derivative agreements to complex bilateral and multi-party transactions related to multi-billion dollar energy investments. He has assisted national oil companies in strategic assessment of marketing and trading opportunities in global natural gas and liquids markets, the development of specific marketing, trading & logistical strategies to be executed in these markets, the implementation of infrastructure required to execute those strategies, and the negotiation of transactions included in these strategies. Dr. Yeager has assisted senior executives in defining and implementing policies, processes and technologies that improve the discipline and capital effectiveness of their company’s energy portfolio marketing / hedging / risk management businesses. Dr. Yeager has also provided expert analysis and testimony in a number of disputes related to trading and marketing. He holds a doctorate on Finance and is a Founding Partner with The De Laval Yeager Group (Formerly ETA).
- Assisted in design and implementation of corporate functions responsible for overseeing energy portfolio management activities, including defining portfolio management objectives, drafting corporate energy risk policies, determining approval process for markets, positions, strategies, transactions, and implementing oversight operating models to assess energy portfolio management activities and ensure they are in line with objectives, policies and approvals.
- Conducted capability audits, due-diligence reviews and industry-benchmarking studies of energy portfolio management functions and corporate oversight functions for a number of electricity and natural gas companies.
- Conducted assessments of alignment of processes, decisions and outcomes of energy portfolio management activities with corporate objectives and other business processes and needs. Typical deliverables included reports identifying areas of strength and areas requiring improvement, as well as specific actionable recommendations regarding changes in operating model, processes, product structuring and pricing strategies, transfer pricing, and energy portfolio management strategies that to improve alignment.
- Designed and implemented a variety of custom decision support, valuation, performance measurement and risk measurement analytics to assist front office personnel and oversight groups in improving the performance and discipline of their energy portfolio management activities.
- Analyzed numerous energy portfolio management strategies involving speculation in derivative instruments, optimization of value from assets, and management of specific energy supply or consumption risks. Assets and markets that were the subject of these analyses include power generation, gas and oil storage facilities, coal storage facilities, LNG terminals, physical oil, gas and liquids supplies, gas and liquids pipelines, electricity transmission rights, environmental contracts, weather derivatives, retail customer portfolios, and structured marketing agreements. Deliverables typically include reports on the risks, capital requirements and effectiveness of the strategies in achieving stated objectives, how well actual transacting practices align with identified strategies, how strategies can be improved, and how operations can be improved to insure better alignment between approved strategies and actual transacting practices.
- Created an energy portfolio management training facility and training program designed around a simulated state-of-the-art energy portfolio management business. This facility provided extensive hands-on training in the development and execution of energy portfolio management strategies and structured transactions, as well as the oversight of energy portfolio management activities.
- Served as the product development lead for a suite of energy trading and risk management solutions, with responsibility for determining and prioritizing customer requirements, assisting in the design of suitable solutions and supporting analytics, managing the development process and verifying customer satisfaction.
- Managed numerous energy portfolio management system selection and implementation projects for a variety of energy companies, including gathering of functional and technical requirements, comparison of vendor solutions, development of custom forecasting, pricing and reporting capabilities, mapping of transactions and assets into systems and definition of processes, data flows, and reporting.
- Principle in a hedge fund specializing in trading in commodity derivatives. Primary responsibilities relate to allocation of capital between reserves and investment strategies, as well as allocation of capital among investment strategies.
EDUCATION, CERTIFICATIONS, AFFILIATIONS
- Ph.D. Finance with emphasis in econometrics, Texas Tech University
- M.S. Finance with emphasis in econometrics, Texas Tech University
- B.A. Psychology, Texas Tech University
- National Futures Association (NFA) Series 3 certification
- Global Association of Risk Professionals (GARP) – prior member
- Professional Risk Managers International Association (PRMIA) – prior member
- Expert Report & Testimony on behalf of MachGen v. Shaw. Arbitration Hearing, Washington, D.C. Lost revenue from delays in construction of two generating stations. 2006.
- Expert Report & Testimony on behalf of Duke Energy Marketing Limited Partnership v. 3946231 Canada, Inc.; ExxonMobil Canada Energy; Mobil Oil Canada Ltd.; ExxonMobil Canada Properties. Arbitration Hearing, Houston, TX. Dispute regarding wrongful termination of gas marketing agreement on grounds of financial insecurity. 2006
- Expert Report & Testimony on behalf of Enron Creditors Recovery Corp, et al vs. Citicorp, Incorporated, et al. United States Bankruptcy Court, Southern District of New York. December 2007
- Expert Declaration on behalf of defendants filed in re Western Sates Wholesale Natural Gas Antitrust Litigation in the U.S. District Court, District of Nevada MDL Docket No. 156 No. 03-CV-1431 PMP (PAL), December 2007.
- Expert Affidavit and testimony on behalf of defendant with Commodity Futures Trading Commission. Dispute regarding representations by broker in providing indicative price quotations to clients for purposes of marking to market their derivatives contracts. May 2008.
- Expert Report and Testimony on behalf of Nevada Partners Fund, LLC vs Internal Revenue Service filed in the U.S. District Court, Southern District of Mississippi, Jackson Division, Civil Action No. 3:06cv379HTW-JCS, July 2008. Accepted by court as expert in Investment Management and Investment Manager Relationships.
For more Information about The De Laval Yeager Group or to schedule a conversation with Dr. Yeager, please contact us.
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