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Aligning Diverse Portfolio and Execution for Capital Efficiency

机译:调整多样化的投资组合和执行以提高资本效率

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Today oil and gas companies are continuously facing choices encompassing a wide range of opportunities,rnfrom unconventional to ultra-deepwater, known basins with deeper and different plays to new frontiersrnand untested plays in the international arena. A quick look at the market underscores the diversity of dealsrnacross the conventional and unconventional sectors, across the globe and across public and privaterncompanies. Business is further complicated with large gas resources in areas with limited local gasrnmarkets and in frontier or remote locations.rnAligning a diverse portfolio with an organization’s execution capabilities and capacity is an imperativernto achieve capital efficiency and meet shareholder expectations. It stems from a challenge of constructingrna portfolio that provides both cash flow and long term growth. There should also be a direct connectionrnof the organization’s strategy and its investment proposition; i.e. should companies mitigate risk byrndiversification across countries, or asset types, or play types, or alternatively, be a focused “pure-play”rnorganization leaving the investment diversification to the investors themselves. Either way, it demands arnversatile organization to create and maintain the value, and it requires innovative techniques to find arncompetitive edge.rnThis manuscript is intended to provide basic background and to set the stage for a panel discussionrnscheduled for 9.30am- Noon, Wednesday, May 6, 2015 at the conference. After identifying the mainrnindustry trends and discussing the basics of capital efficiency, the manuscript investigates key elementsrnof a portfolio that enables the company’s pursued strategies with the focus on exploration and developmentrninitiatives. Four (4) main plays, namely, deepwater and ultra-deepwater, unconventional, oil sandsrnand gas (that includes liquefied natural gas, coal seam gas, etc.) plays are examined as a premise for thernpanel discussion area. The panel will discuss how companies are handling these challenges of diversityrnwith financial and organizational strengths while carefully selecting technology to be competitive.
机译:如今,石油和天然气公司不断面临着包括非常规到超深水在内的各种机遇的选择,从深海和不同油田到已知的盆地,再到国际舞台上新的前沿和未经检验的油田。快速浏览市场,可以看出传统和非传统行业,全球以及公共和私营公司之间交易的多样性。在当地天然气市场有限的地区以及边境或偏远地区,天然气资源的大量供应使业务进一步复杂化。•使多样化的投资组合与组织的执行能力和能力相结合,对于实现资本效率和满足股东期望至关重要。它源于构建既能提供现金流又能长期增长的资产组合的挑战。组织的战略及其投资主张也应有直接的联系。即,公司是否应通过跨国家,资产类型,或游戏类型的风险分散来减轻风险,或者是否应成为专注的“纯粹游戏”组织,而将投资分散性留给投资者自己。无论哪种方式,都需要有能力的组织来创造和维持价值,还需要创新的技术来寻找竞争优势。rn该手稿旨在提供基本的背景知识,并为定于9月30日中午(五月,星期三)举行的小组讨论奠定基础。 2015年6月6日的会议上。在确定了主要行业趋势并讨论了资本效率的基本原理后,该手稿研究了投资组合中的关键要素,这些投资组合使公司能够着重于勘探和开发计划的战略。以深水和超深水,非常规,油砂岩和天然气(包括液化天然气,煤层气等)为主的四(4)个戏剧被视为讨论区域的前提。该小组将讨论公司如何在财务和组织实力方面应对多样化的挑战,同时仔细选择具有竞争力的技术。

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