The Final Frontier - Justin Pettit

The Final Frontier

E&P's Low-Cost Operating Model

(Autor)

Buch | Hardcover
192 Seiten
2017
John Wiley & Sons Inc (Verlag)
978-1-119-37654-5 (ISBN)
45,80 inkl. MwSt
The energy industry's accelerated evolution requires visionary change The Final Frontier parses the evolution of the oil and gas sector to map out a plan for going forward.
The energy industry's accelerated evolution requires visionary change The Final Frontier parses the evolution of the oil and gas sector to map out a plan for going forward. The global energy industry is huge, and it is in disarray; between low oil and gas prices, climate change, rising development costs, and ever-mounting regulations, the need for change has been made crystal clear—but planning is much easier than implementation, and stasis is not progress. This book shows how redesigning internal operating models can bring about the necessary change in the implementation of upstream capabilities-driven strategies. From integrated, national, major, and independent oil companies, to the service companies in the upstream supply chain, there isn't an enterprise in the sector that cannot benefit from reduced costs and increased efficiency. Knowing that change is necessary is not enough—this book shows you what to change, and how to change it to get off the treadmill and start moving forward.

With expert guidance through each redesign element, this insightful guide provides more than simply ideas: it provides real, practical guidance on transforming operations to keep pace with the changes and create lasting advantage.



Identify the most relevant organizational capabilities for your resource portfolio, as well as the changes that can translate into savings and efficiency
Build a workable plan for real-world implementation
Redesign the operating model most suited to the needs of your business on an organization-wide basis
Learn what to do differently and how to do it differently

The energy industry has made great strides: our understanding of the global resource base, the nature of ownership and principal stakeholders, new technologies for resource development, and our economics and business models have all undergone a tremendous revolution, but now the more difficult—and more valuable—task begins. The Final Frontier helps you navigate the future and implement the changes necessary to avoid getting left behind.

JUSTIN PETTIT is an advisor to the oil and gas industry. He entered the industry in 1992 as Senior Business Planner with Norcen Energy Resources and went on to a successful career on Wall Street, including Partner at Stern Stewart & Company, Group Head of Strategic Advisory for UBS Investment Bank, and Lead Partner in the energy and chemicals practice of Booz & Company. He also authored Strategic Corporate Finance: Applications in Valuation & Capital Structure (Wiley) and Merge Ahead: Mastering the Five Enduring Trends of Artful M&A. Mr. Pettit is a member of the Society of Petroleum Engineers.

Acknowledgments ix

Abstract x

Chapter 1 Introduction 1

A Vital Industry 2

What Now? 3

Industry Evolution 6

Ten Reasons to Update Your Operating Model 9

E&P Needs a New Agenda 19

Notes 20

Chapter 2 The New Agenda 23

Upstream Cost Transformation 24

“Cut Costs and Grow Stronger” 30

E&P Capabilities 34

Resource-Based Key Capabilities 45

Notes 49

Chapter 3 E&P Operating Model Redesign 51

Internal Operating Model 55

Business Delineation and Performance Measurement 56

Organization Structure, Capabilities, and Workflows 66

Operations Management Processes 74

Delegation of Decision Rights 75

Informal Social Norms and Corporate Culture 77

Implications of Industry Evolution 80

Business Model Considerations 83

Notes 85

Chapter 4 PMI and Other Event-Driven Redesigns 87

The Search for a Perfect Ownership Model 89

Preparing to Go Public 91

Key Success Factors 92

Event-Driven Redesign 94

Note 95

Chapter 5 National Oil Company Considerations 97

National Oil Company Context 98

Sovereign and National Oil Company Strategies 103

Business Model Implications 109

Notes 114

Chapter 6 Collaborative Operating Models 117

Who Uses Joint Ventures? 118

Joint Venture Strategic Intent 122

Joint Venture Value and Valuation 124

Deal Structure 127

Joint Ventures in Practice—The “How” 132

Notes 141

Chapter 7 Financial Implications 143

Financial Strategy and Policy 145

Hedging and Trading 155

Notes 168

Glossary of Terms 171

Other Useful Links 171

Works Cited 172

About the Author 178

Index 179

Erscheinungsdatum
Verlagsort New York
Sprache englisch
Maße 160 x 231 mm
Gewicht 352 g
Themenwelt Technik Elektrotechnik / Energietechnik
Wirtschaft Volkswirtschaftslehre
ISBN-10 1-119-37654-8 / 1119376548
ISBN-13 978-1-119-37654-5 / 9781119376545
Zustand Neuware
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