Prior to joining Cardinal Midstream as Chief Financial Officer in December 2018, Ray was a partner at Deloitte & Touche LLP, where he led Deloitte’s Oil & Gas Mergers & Acquisitions Transaction Services practice. While at Deloitte, Ray’s practice focused on financial pre-acquisition due diligence analysis, deal structuring, financial modeling, contract and financing issues, deal negotiation support and post-transaction integration matters. He served some of Deloitte’s largest and most sophisticated energy-focused private equity firms and their portfolio companies. Representative clients included The Blackstone Group, Ares Management, ArcLight Capital Partners, Bernhard Capital Partners, First Reserve Corporation and Peak Rock Capital.
Ray has substantial financial advisory and accounting experience with acquisition targets across the energy spectrum including multibillion dollar transactions in the E&P, gas gathering, interstate and intrastate pipelines, processing, storage and distribution, MLP, alternative energy, utilities and mining sectors. Ray has extensive experience providing in-depth analysis of quality of earnings, normalization of EBITDA, timing and risks related to cash flows, quality of assets, working capital adjustments, assistance with drafting purchase price adjustment provisions and financial reporting issues in connection with SEC and debt offerings.
Ray received a Bachelor of Business Administration degree in accountancy from the University of Notre Dame and an MBA from the Kellogg School of Management at Northwestern University. He is also a licensed CPA. Ray and his wife, Lindsay, have two children and live in Dallas, where they are active members of the community. Ray has supported numerous charitable causes including serving two terms on the Board of Trustees at the Dallas Museum of Art and the Board of Directors for the Children’s Heath Trust in concert with Dallas Children’s Medical Center.