ANNAPOLIS, Md., June 5 /PRNewswire/ -- FTI Consulting, Inc. (Amex: FCN),
the premier national provider of strategic and litigation-related consulting
services, today announced David M. Russell has been appointed director of its
new Houston-based Energy Dispute Resolution Practice. With over 25 years of
experience resolving disputes within the energy industry, Russell is
recognized in that industry for his expertise.
Russell has held key positions within the exploration and production and
natural gas marketing areas of Exxon Corporation, the world's largest oil and
gas company, as well as within the pipeline supply, project development and
marketing areas of Enron Corporation, one of the world's most successful
energy development companies. Most recently, Russell was a partner of Arthur
Andersen where he provided litigation consulting services within the energy
industry.
"We are pleased to add someone of David's caliber to our professional
roster," said Jack Dunn IV, FTI's chairman and chief executive officer.
"Because he has represented all three sides in energy business disputes -- the
buyer, the seller and the settlement facilitator -- David has a unique and
very valuable perspective on dispute negotiations and resolution. We expect
him to spearhead our efforts to grow FTI's presence in the energy industry and
in business dispute consulting."
During his 12-year tenure with Exxon, Russell was responsible for
resolution of gas production contract disputes between Exxon and most major
U.S. interstate pipelines. And during his seven-year tenure with Enron, he
was responsible for Transwestern Pipeline Company's supply litigation and
claims settlement strategy, including development of technical expert and fact
witness testimony. He also served as the key company expert and fact witness
on gas contract matters. While with these companies, he resolved disputes
involving production allocations; valuations and reporting; oil and gas
royalty determinations; liquids fractionation allocations; gas take-or-pay and
high-cost contracts; the transitioning of a gas pipeline from merchant service
to pure transport service; and divestiture of redundant or unnecessary assets.
While at Andersen, Russell provided assistance to, or on behalf of,
virtually every major international energy company. He has provided
privileged consulting and expert testimony in numerous natural gas contract
disputes, oil, gas and carbon dioxide royalty disputes, severance tax
assessments, joint interest operations disputes, and federal and Native
American crude oil royalty claims.
"Disputes in the energy industry usually occur between parties that are
ongoing business partners and must continue to work together," Russell
commented. "My philosophy is to facilitate broader communication and
collaborative problem solving early in the dispute. This approach expands
information discovery, limits unnecessary litigation, enhances settlement
negotiations and improves the parties' relationships. The skills and
techniques employed are entirely transferable to other industries and FTI has
encouraged me to build a dispute resolution practice around my philosophy."
"We are very excited that David has joined our firm," said Barry Monheit,
president of the Financial Consulting Division. "He gives us the senior oil
and gas professional we have been looking for in Texas. David has worked for
all sides of disputes and in the process has been involved with several
leaders in the energy industry. We are pleased David has decided to join our
team and build our energy practice."
Russell graduated from The University of Texas-Pan American with a
bachelor's degree in accounting. He is a mediator with Resolution Forum, Inc.
and a member of the National Energy Services Association, having served as the
1996 president of its predecessor, the Houston Energy Association.
About FTI Consulting
FTI Consulting is a multi-disciplined consulting firm with leading
practices in the areas of bankruptcy and financial restructuring, litigation
consulting and engineering/scientific investigation. Modern corporations, as
well as those who advise and invest in them, face growing challenges on every
front. From a proliferation of "bet-the-company" litigation to increasingly
complicated relationships with lenders and investors in an ever-changing
global economy, U.S. companies are turning more and more to outside experts
and consultants to meet these complex issues. FTI is dedicated to helping
corporations, their advisors, lawyers, lenders and investors meet these
challenges by providing a broad array of the highest quality professional
practices from a single source.
This press release includes "forward-looking" statements that involve
uncertainties and risks. There can be no assurance that actual results will
not differ from the company's expectations. The company has experienced
fluctuating revenues, operating income and cash flow in some prior periods and
expects that this may occur from time to time in the future. As a result of
these possible fluctuations, the company's actual results may differ from our
projections. Other factors that could cause such differences include pace and
timing of additional acquisitions, the company's ability to realize cost
savings and efficiencies, competitive and general economic conditions, and
other risks described in the Company's filings with the Securities and
Exchange Commission.
For further information regarding FTI Consulting, Inc. free of charge via
fax, dial 1-800-PRO-INFO and enter "FCN"
FTI is on the Internet at http://www.fticonsulting.com and at
http://www.ftiwarroom.net .
SOURCE FTI Consulting, Inc.
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Related links:
http://www.fticonsulting.com
CONTACT:
Jack Dunn, Chairman & CEO of FTI Consulting,
410-224-1483, or General, Marilyn Windsor, 312-640-6692,
Analysts, Doug Broderick, 312-274-2266, or Media, Tim Grace,
312-274-2240, all of The Financial Relations Board BSMG Worldwide
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