D. Boyd Lovelace is Chief Taxation Officer of Bluescape Energy Partners and Vice Chairman, Holding Company Operations of Bluescape Resources Company. In this capacity, Lovelace coordinates all activities relating to tax structuring, tax planning, tax compliance, accounting, and insurance. Lovelace will serve as an in-house tax expert for Bluescape Energy Partners’ ongoing investing activities.
Prior to Bluescape, Lovelace was Vice President -- Tax Operations for Energy Future Holdings. At Energy Future Holdings, Lovelace was active in tax planning for special transactions such as the structuring of the company’s new generation building strategy and in the further development of its lignite-based fleet. Successes included taking advantage of previously unused tax basis to realize $188 million NPV tax savings benefit. Lovelace also developed strategies to settle outstanding IRS audits in a cash-efficient manner. The strategy for one audit allowed the company to utilize locked-up credits to settle an open audit without any cash payment, realizing a NPV benefit of more than $600 million. Another strategy yielded the company a favorable audit settlement, realizing a more than $300 million NPV tax benefit. On a daily basis, Lovelace acted as Tax Director/Business Advisor to the Energy Future Holdings Luminant business unit, including generation, mining, and wholesale power operations. His modification of the lignite depletion calculation to capture full value of the tax methodology yielded an annual tax savings exceeding $15 million. In addition, Lovelace negotiated or directed the property tax negotiations that reduced the annual property tax expense payments for the Luminant business unit by more than $50 million.
Prior to Energy Future Holdings, Lovelace was a Senior Tax Advisor with Entergy Services and was responsible for tax planning and advice related to asset acquisitions, dispositions, and reorganizations. Using tax efficient structuring strategies to defer tax expense added $30 to 50 million in NPV tax benefit to each project; a strategy to improve the tax efficiency in accumulating funds for nuclear decommissioning liability yielded a $50 million tax benefit; and, revising and providing technical support for purchase price allocations provided a $45 million NPV tax benefit. Before Entergy, as a Tax Advisor for Shell Oil Company, Lovelace planned for and directed numerous tax advantaged structures utilized in oil and gas acquisitions yielding $100’s of million in NPV savings. Prior to Shell, Lovelace was a partner with Arthur Andersen & Company, a member of said firm’s Oil & Gas Tax Specialty Team, and was considered a firm-wide expert in partnership taxation strategy as well as an expert in the tax treatment and operation of master limited partnerships. While with Arthur Andersen & Company, Lovelace directed and planned for many significant tax saving strategies for clients throughout the oil patch.
Lovelace graduated from the University of Texas at Austin and is a member of the Texas Society of CPAs and the Dallas Chapter of the TSCPA.