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Introduction to Oil & Gas Industry, Accounting & Financial Statement Analysis Copyright © by Wall Street Prep, Inc. | All rights reserved 1 Oil & gas industry sectors and players A number of distinct yet interconnected sectors • There are a number of Transportation sectors that make up the O&G industry – each focused on a specific process in the value chain. Exploration O&G Refining & Companies focus on one & Sector Marketing Production sector • Given the complexities of this extractive industry, most companies focus on Oilfield one particular sector. Services 2 Oil & gas industry sectors and players Mission – to find and extract Crude terms • The Exploration & Production sector • Exploration & Production involves all operations associated with is typically referred by its finding and extracting oil and gas. acronym: E&P. • E&P sector can be broken out into the • Companies focused only exploration and production on this sector are components. referred to as E&P • Timing between the two components companies. can take years (and usually does!). • E&P is also known as the upstream sector, to indicate the upward extraction of the commodities. 3 Oil & gas industry sectors and players Timing Varies 5-10 Years Exploration Production Phase Phase • Pre-license prospecting • Primary recovery method • Property/land rights • Secondary recovery method acquisition • Tertiary (enhanced) recovery method • Exploration drilling • Evaluation and appraisal • Development 4
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