Rodney Smith

CAREER HIGHLIGHTS

Rodney has over 27 years of experience in the oil and gas industry with 25 years being in the refining sector. Rodney has held various executive positions in which he has led the Accounting, Business Development, Finance, Treasury, Procurement, and IT functions. His detailed hands-on experience has helped develop financial talent to meet the strategic and operational needs of companies.

Rodney began his career upstream at Yates Petroleum Corporation as a Revenue Gas Accountant. After two years, Rodney moved to the refining sector with Navajo Refining Company (HFC). After 11 years, Rodney joined Western Refining Company (Western).

While at Western, Rodney was tasked with hiring and developing an Accounting team for an upstart company. Rodney served as a critical team member in the 2006 WNR NYSE IPO and the $1.4 billion acquisition of a downstream energy company including due diligence, executive advisement, Hart-Scott-Rodino filing, and successful defense of Federal Trade Commission litigation.

In early 2012, Rodney was asked to consult on a vertical integration project of which Delta Air Lines was seeking to acquire a refining asset. Rodney developed the financial model for acquisition, conducted due diligence, and negotiated the Purchase and Sales Agreement. After acquisition, he became an officer of the company and a senior member of the Refinery Executive Team with responsibility covering Accounting, Finance, Business Development, IT, and Procurement.

Rodney joined Stancil & Co. in June 2017.

REPRESENTATIVE EXPERIENCE

• Corporate Leadership - Rodney has been an officer of 16 entities and has served in multiple Vice President roles and held additional titles of Controller, Assistant Treasurer, and Interim CFO. Established accounting departments and systems for multiple start-up companies. Developed company policy and procedures, and designed internal control processes to meet SOX requirements.
• Mergers & Acquisitions - Activities include, but not limited to, financial modelling, valuation, due diligence, PSA negotiations, creating business plan and board presentations. Determined hydrocarbon inventory valuation on closing, directed the transition service agreement, negotiated all new contracts, and renegotiated all assumed contracts. Set up the company with the appropriate federal and state agencies required.
• Corporate Finance - Negotiated amendment to Term Loan that eliminated financial covenants and reduced interest rates. Amended Revolver Loan that increased size of instrument, eliminated financial covenants, reduced interest rate, commitment fees, and LC fees. Restructured components of ABL that provided company with increased borrowing capabilities. Oversaw cash management with expenditures up to $400 million a day. Structured cash forecasting model to determine excess cash flow investment opportunities and did short-term investments daily.
• Strategic Development - Selected and implemented Enterprise Resource and Enterprise Asset Management systems to include all auxiliary systems needed. Migrated merged companies to one financial application. Developed efficient “snap” report for monthly, quarterly, and annual projections. Built insurance binder and presentations that reduced premiums and streamlined insurance audits and renewals.