Kasriel / Wood Upstream Petroleum Fiscal and Valuation Modeling in Excel

A Worked Examples Approach
1. Auflage 2013
ISBN: 978-1-118-53769-5
Verlag: John Wiley & Sons
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 376 Seiten, E-Book

Reihe: Wiley Finance Series

Please contact the authors at [e-mail] details of how to access the trial version of Crystal Ball, aswell as the Excel and other files which are *not* part of thee-book version download.
"This is a book no deal team should be without. It is a must forthose involved in upstream oil and gas transactions, planning,budgeting, investment appraisal and portfolio management. Itsstep-by-step approach cuts through complexity, makingit comprehensive and understandable by a wide range of users with awide range of abilities. It can be used as a textbook, anintroductory primer or as a handbook that you can dip in and out ofor read cover to cover."
--Michael Lynch-Bell, Senior Advisor, Oil &Gas, Ernst & Young LLP; ex-officio Chairman, UN Expert Group onResource Classification
In the upstream petroleum industry, it is the value ofpost-tax cashflows which matters most to companies,governments, investors, lenders, analysts, and advisors.Calculating these cashflows and understanding their"behavior," however, is challenging, as theindustry's specialized fiscal systems can be complex,jargon-laden, and sometimes seem to be a "world oftheir own".
Upstream Petroleum Fiscal and Valuation Modeling in Excel: AWorked Examples Approach demystifies fiscal analysis which,unlike disciplines such as Earth sciences and engineering, can belearned from a book. Written in plain English for laymen and forexperienced practitioners alike, it is a reader-friendly,clear, practical, step-by-step hands-on guide forboth reference and self-paced study.
The book does not catalogue the 100+ different petroleum fiscalregimes in use at the time of writing. Rather, drawing on theauthors' combined 48 years' experience, it takes a moretimeless, generic treatment, by covering the most commonvariants of royalties, taxation, production sharing arrangements,bonuses and abandonment funding , through a dual approach: first,showing how to model them in Excel , and then providinginteractive exercises to prompt (and answer) questions that analyzeimpacts on cashflows.
In addition to the main text, the book consists of over 120Excel files (ranging from modular examples to full models) in Excel2007 and 2003 formats; over 400 pages of supplementary PDF files;VBA features to enhance model functionality; and an introduction torisk modeling with exercises for the included trial version ofOracle's Crystal Ball software. It offers both a wealth ofcontent and models equal to or surpassing what is available fromfiscal modeling courses costing several times more; and greaterinsights into underlying calculations than commercially available"black box" fiscal software.
New US Securities and Exchange Commission (SEC) rules plannedfor 2013 will force petroleum companies to disclose more fiscalinformation on an individual country basis. This will make it moreimportant than ever for analysts to understand how to model oil andgas terms and the potential impacts of the disclosed governmentpayments on future oil and gas company profitability.
Due to the heavy use of graphics and cross references used inthis particular text, some readers might find that the printed bookoffers a more optimal reading experience than certain e-formatsparticularly with the Kindle eMobi format.

Autoren/Hrsg.

Wood, David

Über Autor(innen)

KEN KASRIEL is a Senior Petroleum Economist with RPSEnergy, London. He has 18 years of experience in petroleum finance.He has performed numerous upstream petroleum valuations of assetsin Africa, Asia, Europe, the Former Soviet Union, the Middle Eastand North America. His valuations and analyses have been used inpublic offerings, annual reports and other regulatory filings invarious jurisdictions; and for the purposes of project financing,bid rounds, transaction valuation, portfolio optimization, expertwitness support in commercial arbitration, and governmental fiscaldesign advisory. Before joining RPS Energy he worked 7 years asSenior Analyst for the Global Petroleum practice ofPriceWaterhouseCoopers. He has also worked as an oil and gasequities analyst with Robert Flemings Securities (now part ofJPMorganChase) and Creditanstalt Investment Bank (now part ofBankAustria), and as an independent consultant to London-based oiland gas equity research teams. He has written on petroleumeconomics in the Oil and Gas Journal.
DR. DAVID WOOD has over 30 years of energy industryexperience, mainly in petroleum, spanning technical and commercialexploration and production operations, mid- and downstreamprojects, and contract evaluation. His early energy industryexperience includes Phillips Petroleum, Amoco (Africa, Europe andUK), and Lundin Oil (South America, Africa, Middle and Far East).From 1993-98 he was UK Managing Director for a portfolio of NorthSea and onshore UK oil and gas assets. Since 1998 he has worked asan independent consultant, training provider and expert witness. Heruns an oil and gas consulting company, DWA Energy Limited. He haspublished on energy related topics including: performance modelingof fiscal designs, petroleum economics and risk analysis,enterprise risk and portfolio management, LNG, GTL, gas storage andsupply, deepwater E&P techniques, corporate performance,M&A, negotiations and project management. He has providedfiscal design advice to organizations including the AlaskanLegislature and the Yemen Government. He is involved inprofessional training, research, publication and developmentprograms and is the assistant editor-in-chief of the Journal ofNatural Gas Science & Engineering. He has designed andtaught online training courses including oil and gas MBAprograms.