June 23, 2011 10:34 ET

Deloitte Announces Acquisition of AJM Petroleum Consultants

Combination of energy and financial advisory expertise will benefit clients in competitive energy industry.

CALGARY, ALBERTA--(Marketwire - June 23, 2011) - Today, Deloitte is making waves in the energy and professional services sector by announcing its acquisition of AJM Petroleum Consultants. Operating as AJM Deloitte, the acquisition creates a first-to-market capability, combining Deloitte's financial advisory and business expertise with AJM's industry knowledge and technical know-how.

"This acquisition acts as a catalyst for growth, supporting our national and global strategy to expand our advisory capabilities," says Frank Vettese, Canadian Managing Partner of Deloitte's Financial Advisory practice. "We are a global organization and AJM Deloitte will better position us to serve our clients in Canada, as well as those abroad."

The combination of the two companies creates a synergy of services that will deliver deeper expertise and expanded resource knowledge for clients in an increasingly competitive energy industry. Deloitte is introducing a fully-integrated financial, technical, analytical and advisory service. The acquisition reinforces Deloitte's ability to stay ahead of the competition for merger, acquisition, and divestiture work within the energy sector.

"Combining the skill sets of Deloitte and AJM makes us unique to clients looking for resource assessment expertise and financial acumen in the energy sector," says Frank Rochon, Managing Partner of Deloitte's Calgary office. "These integrated services are simply not available anywhere else in the market."

AJM will have seamless access to robust technical data as well as fundamental market analysis that helps energy companies make informed decisions.

"The AJM leadership team has intimate knowledge of conventional and unconventional oil and gas, bitumen, geosciences and reservoir analysis," says Rochon. "Many of them have held senior management positions in exploration and production companies, bringing an added layer of industry expertise to Deloitte."

The unique combination of the two businesses offers insight and innovation from multiple disciplines and complements AJM's own business strategy of helping their clients grow.

"AJM and Deloitte are blending their core financial and technical services into one package that will provide clients efficiencies in cost, results and most notably, value," says Robin Mann, Chairman and CEO, AJM Petroleum Consultants. "Now, with one phone call, clients can access comprehensive professional advice on asset investments and divestments, mergers and acquisitions in Canada and internationally."

AJM Deloitte will operate out of Deloitte's newly formed Energy and Resource Advisory Service in the Financial Advisory group. A complementary business merger like no other, AJM Deloitte's professional service offerings will give them that additional competitive edge across markets, reinforcing their position as the go-to firm for energy advisory services.

About Deloitte

Deloitte, one of Canada's leading professional services firms, provides audit, tax, consulting, and financial advisory services through more than 7,600 people in 57 offices. Deloitte operates in Québec as Samson Bélair/Deloitte & Touche s.e.n.c.r.l. Deloitte & Touche LLP, an Ontario Limited Liability Partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.

About AJM

Based in Calgary, AJM is one of the larger reservoir engineering and geological consultancies in North America with four service branches: corporate evaluations, acquisition/divestitures, reservoir studies/simulations and advisory services. In each branch, the key offering that differentiates AJM from their competitors is their ability to include stochastic resource evaluations.

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