Oil & Gas Modeling: Program Outline

This is the condensed version of this outline. Click Here for the full version.

How to Learn Oil & Gas Valuation and Financial Modeling and Dominate
Your Investment Banking Interviews – and Race to the Top of the
Bonus Ladder After You Land Your Offer and Start Working

The topics in Oil & Gas Modeling teach you everything you need to know about accounting, industry jargon, operating models, valuation, and merger and LBO models for natural resource companies – businesses that earn money by extracting energy or minerals from the ground.

  • In total, there are 95 lessons with accompanying Excel files as well as 15 quick reference guide PDFs on key topics. That amounts to nearly 36 hours of video altogether – but you also get full transcripts (over 200,000 words total), so you can quickly skip to anything you need to review.
  • All the content is downloadable to your preferred device (works with all media players and on common devices, including desktops, laptops, tablets, and smartphones).
  • Easily keep track of your progress: As you move through the lessons, you can check off what you’ve completed and what’s still on your “to-do” list.
  • Fast answers to all your questions: Our expert support team is standing by to answer any questions you have about any of the content, 365 days a year.
  • Quizzes and Certifications. After you have completed the course, you will be eligible to take our challenging Certification Quiz. Once you pass the Quiz, you’ll be issued a Certificate that you can add to your resume / CV and refer to in interviews.
  • Included Lifetime Access: You also get lifetime access, so you can come back to the course whenever you need it – whether that’s in 1 month, 1 year, or 10 years.

What Others Are Saying About Our Modeling Courses...

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Module 1: Overview, Accounting & Key Metrics
  • In this module, you’ll learn why and how natural resource companies operate differently from normal companies, and why you can’t rely on traditional metrics when analyzing them.
  • We’ll compare the financial statements of XTO Energy and Exxon Mobil to those of normal companies, and you’ll learn how each item is projected and how resource production drives the 3 statements.
  • You’ll also learn how to measure reserves and production, and how successful efforts accounting differs from full cost accounting.
  • We conclude the module by analyzing key operating metrics and ratios for oil & gas companies.
Module 2: Oil & Gas Operating Model
  • In this module, you’ll construct a detailed operating model for XTO Energy, starting with its production, price hedging, and per-unit expenses, and then moving into its 3 financial statements.
  • XTO has a significant amount of debt, so we will also create detailed debt schedules similar to what you see in advanced LBO models.
  • Once the XTO model is complete, we’ll jump into Exxon Mobil’s filings and create a revenue and expense model for their upstream business on a region-by-region basis, and then look at a complete operating model for the company.
  • Everything is based on the real SEC filings of both companies as well as equity research from Deutsche Bank, Credit Suisse, and RBC.
Module 3: Oil & Gas Valuation
  • You’ll learn how to value XTO Energy using public company comparables, precedent transactions, a DCF, and a Net Asset Value (NAV) model in this module.
  • We’ll start by covering the key differences in public comps and precedent transactions for oil & gas companies, including an example of how to adjust for non-recurring and one-time charges.
  • Then you’ll learn how a DCF is different and why it’s not that useful when valuing an E&P- focused oil & gas company such as XTO.
  • We’ll wrap up the module by looking at the Net Asset Value (NAV) model in detail, including the concept, assumptions, revenue and expense projections, and other business segments to include.
Module 4: Oil & Gas Merger Model
  • In this module, you’ll complete a detailed merger model for Exxon Mobil and XTO Energy and learn how both companies thought about this record $41 billion transaction.
  • After learning how to make the transaction assumptions, allocate the purchase price, and adjust the balance sheet, you’ll learn how to modify the debt schedules and the financial statements to support combining all 3 financial statements.
  • We will also examine oil & gas-specific synergies and go through oil & gas-specific accretion / dilution metrics such as NAV per share – before concluding with a contribution analysis, sensitivities, and commentary on the deal.
Module 5: Oil & Gas LBO Model
  • This module will present a hypothetical scenario where a private equity firm, rather than Exxon Mobil, acquires XTO Energy in a leveraged buyout.
  • We’ll go through all the key steps from the assumptions, purchase price allocation, and debt schedules to how to modify the 3 financial statements and point out the key differences between oil & gas LBOs and those of normal companies.
  • The module will conclude with an analysis of the key credit statistics and ratios for XTO as well as the returns to equity and debt investors under different assumptions – and you’ll learn why natural resource companies are not the best LBO targets, based on the analysis here.

Our Promise To You...

  • Get Immediate Access. The instant you sign up, you'll have immediate access to 95 lessons, 36 hours of video and 15 PDF Quick Start Guides.
  • Unlimited, 365-Day Per Year Support. We have a team of experienced bankers standing by to respond to your questions, comments, and emails 365 days per year, for as long as you need.
  • Money-Back Guarantee. Breaking Into Wall Street is the first and only financial modeling training program that comes with an unconditional 12-Month Money-Back Guarantee.
  • Course Certifications. After completing the course material, you’re eligible to take our Certification Quiz. Once you pass the quiz, you’ll be issued a Certificate that you can add to your resume / CV and refer to in interviews.

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With the bundle, you get the following three components, at a deep discount to the regular price:

  • Oil & Gas Modeling Course
  • Bank & Financial Institution Modeling Course
  • Real Estate & REIT Modeling Course

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Knowledge and skill in these three specialized disciplines will truly set you apart from the pack, and I promise you – they will never be offered at a lower price than this.

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