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File: Oil Pdf 177172 | Oilgas Intro
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 ...

icon picture PDF Filetype PDF | Posted on 28 Jan 2023 | 2 years ago
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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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...Introduction to oil gas industry accounting financial statement analysis copyright by wall street prep inc all rights reserved sectors and players a number of distinct yet interconnected there are transportation that make up the o g each focused on specific process in value chain exploration refining companies focus one sector marketing production given complexities this extractive most oilfield particular services mission find extract crude terms involves operations associated with is typically referred its finding extracting acronym e p can be broken out into only components as timing between two take years usually does also known upstream indicate upward extraction commodities varies phase pre license prospecting primary recovery method property land secondary acquisition tertiary enhanced drilling evaluation appraisal development...

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