Don’t spend too much energy on decoding the jargon.
We’ll drill straight to the point.
Model it all: Up/down/mid stream, equipment & services, petrochemicals.
Translate concepts and terms unique to oil & gas into a financial model.
Quantify and model all primary drivers of growth.
Financial professionals with exposure to this industry, such as:
Bankers Research Analysts Advisors Asset Managers Internal Corporate Finance ProfessionalsIn short: anyone who recognizes that fossil fuels will not be replaced anytime soon.
The energy industry is in our lives every day. But its ubiquity should not be mistaken for simplicity.
Understand all the oil & gas sectors and subsectors, key metrics, taxation concepts, financial treatments, and operating metrics.
At first glance, it looks like any other financial model - but key differences apply when it comes to oil & gas services.
Whether it’s exploration, transportation, processing, or delivery, special considerations come into play.
The segment build-up for an integrated oil & gas company requires an immense amount of detail.
Upstream projections have their own relevant benchmarks. Don’t forget about downstream margins and spreads. And then we have to arrive at EBITDA.
Guidance on proven reserves from company management will serve as the backbone for NAV and PV-10 analysis.
Incorporate production curve projections to estimate all prices, costs, revenue, and cash flows to calculate Total Enterprise Value.
Our approach is to teach you how to fish, rather than give you a fish.
We don't give a one-way lecture where you memorize every cell and formula.
We nudge you toward uncovering answers on your own by leading with the right questions.
The end result? Longer-term knowledge retention that will last an entire career.
I really felt that WST was world class and would recommend it to anyone starting a new career on Wall Street. In particular, the strength of the program is that it concentrates on how analytical work is actually conducted in real life rather than the academic approach of some other competitors.
The energy industry impacts everyone in one way or another, from commuters to bottled water consumers. Oil and natural gas are the world’s leading energy supply, with gas stations in every neighborhood fueling cars and trucks that travel millions of miles a day. Supporting the entire oil & gas sector is the entire oil & gas services ecosystem.
We begin with an oil & gas services industry primer by introducing the oil & gas field development cycle and the corresponding supporting oil services, from feasibility studies to contract drilling from onshore to offshore, marine-based oil rigs. Drill into the drilling related services & equipment and understand casing and completion to infrastructure & installation and production & maintenance.
Then we focus on analyzing a leading global oil & gas services provider (Halliburton). We will build and constructing the detailed segment build-up portion of the financial model that feeds the Income Statement of your oil & gas services financial model. Understand various industry conventions for rig counts (SWACO and Baker Hughes).
The energy industry impacts everyone in one way or another, from commuters to bottled water consumers. Oil and natural gas are the world’s leading energy supply, with gas stations in every neighborhood fueling cars and trucks that travel millions of miles a day. However, oil’s ubiquity should not be mistaken for simplicity; sound investment decisions require the exploration of the many intricacies within this space.
In this abridged version of our full blown oil & gas integrated analysis, we explain the various sectors and subsectors of an E&P company with our short introductory primer to familiarize the concepts and terminology. We then introduce and build a basic, simplified version of our oil & gas integrated model to communicate how one should approach modeling out the key drivers of growth and basic NAV analysis.
The energy industry impacts everyone in one way or another, from commuters to bottled water consumers. Oil and natural gas are the world’s leading energy supply, with gas stations in every neighborhood fueling cars and trucks that travel millions of miles a day. However, oil’s ubiquity should not be mistaken for simplicity; sound investment decisions require the exploration of the many intricacies within this space.
In this full blown version of our oil & gas integrated financial modeling, we explain the various sectors and subsectors of an E&P company with our short introductory primer to familiarize the concepts and terminology. We then build a full integrated model including detailed build-ups of various segments of our oil & gas integrated model to fully map out drivers of growth for both financial modeling and valuation.