Valuing Oil and Gas Companies: A Guide to the Assessment and Evaluation of Assets, Performance and Prospects

This unique book analyzes all the commercial aspects of oil companies, taking into account the significant structural changes within the sector since the mid-1990s. As well as detailing the analytical techniques used to price oil equities, a section on oil industry corporate finance explains how the competitive structure of the industry has influenced company performance and how this governs corporate conduct. Illustrated with topical examples, the book examines the structure and ownership of the industry and shows how to project price and margin scenarios. The authors also demonstrate how to interpret oil company accounts; create cash flow models of oilfields; value acreage and project consolidated accounts for integrated companies with a discounted cash flow model.