Company report
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13 Pages

Pacific E&P corporate report

Pacific E&P corporate report

Report summary

Pacific E&P has been hit hard by the oil price collapse, and faces a challenging operational and financial outlook.It has reacted by suspending the dividend, slashing investment, deferring project spend, and reducing its cost base. However, debt remains unsustainably high and the company's portfolio of development projects is limited. It faces the tough balancing act of reducing debt, while replenishing its growth opportunity set.

What's included?

This report includes 3 file(s)

  • Pacific E&P corporate report PDF - 347.30 KB 13 Pages, 6 Tables, 14 Figures
  • Pacific E and P Interim Report.xls XLS - 482.00 KB
  • Pacific E and P Corporate Report.xls XLS - 3.53 MB


The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Company report offers thought-provoking insight into corporate financial health, investment strategy and operational outlook supported by our proprietary asset data and energy research experts.

Widely used by both the energy and financial sectors, our report gives you a unique perspective on key strategic and financial challenges, as well as opportunities facing this oil and gas company.

Wood Mackenzie provides an independent evaluation and expert opinion on the operational performance, strategy and future of the world's top oil and gas companies. Our unique, objective analysis helps you understand, validate, compare and challenge market and corporate views so you can assess strategic opportunities.

  • Executive summary
  • Strategy
    • Difficult outlook following failed takeover attempt by Alfa/Harbour Energy
    • Oil price collapse exacerbates existing pressures
      • Strategic action to date
      • Near-term debt covenant pressures loom large, longer term pressures remain
      • A limited development hopper, and a weak operational outlook
    • The next steps – debt reduction and re-engagement in business development
      • Options to release additional capital
      • Re-energising the portfolio – business development options
  • Economic assumptions
    • Wood Mackenzie Corporate Service: our response to low oil prices
    • Economic assumptions

In this report there are 20 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Strategy
    • Relative share price performance
    • Benchmark: value sensitivity to oil price
    • Benchmark: capital budget cuts y-o-y over 2014/2015
    • Benchmark: 3-yr (2014-2017) production CAGR
    • Projected cash flow breakeven (Brent)
    • Projected cash flow
    • Gearing evolution - Focused Internationals
    • Projected year-end net debt
    • Wood Mackenzie forecast total production
    • NPV before and after oil price fall
    • Benchmark - top companies by exploration acreage
    • Top ten assets by value
  • Economic assumptions
    • Base price assumptions (nominal terms)
    • Base price assumptions (nominal terms)
    • Base, high and low Brent (nominal terms)
    • High price assumptions
    • Low price assumptions
    • Value assumptions
    • Foreign exchange rate assumptions
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