Company report
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27 Pages

Repsol corporate report


Repsol corporate report

Report summary

Repsol has shifted its focus from one of growth to delivering value. Good progress has been made on key priorities and the company is now well placed to operate at low oil prices. A more active high-grading phase could unlock value currently hidden in a portfolio that is much more diverse than peers. Emerging as a more streamlined and flexible operator is a core objective. Yet Repsol still has work to do to strengthen in key areas.

What's included?

This report includes 2 file(s)

  • Repsol corporate report PDF - 2.19 MB 27 Pages, 9 Tables, 26 Figures
  • Repsol Corporate Report.xls XLS - 3.58 MB

Description

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
    • Overview
    • Strategic priorities
      • 1. Upstream focus and portfolio high-grading
        • Portfolio strategic fit
        • Wood Mackenzie assessment of future disposal candidates
      • 2. Sustain the base business and deliver conventional developments
      • 3. Strengthen the onshore North American portfolio
      • 4. Maintain a core exploration focus
      • 5. Downstream
  • Financial health
    • Investment
    • Cash flow
    • Liquidity
  • Resources, reserves and production
    • Production
    • Reserves and resources
      • Reserves and resources detail
  • Portfolio summary
  • Economic assumptions
    • Economic assumptions

In this report there are 35 tables or charts, including:

  • Executive summary
    • SWOT analysis
  • Strategy
    • Benchmark: premium/discount to WM NPV,10
    • Benchmark: share price performance
    • Strategy: Image 3
    • Benchmark: % of NPV,10 by region
    • Benchmark: % of NPV,10 by resource theme
    • Asset sales since Talisman Energy acquisition (January 2015 - March 2017)
    • Strategy: Table 2
    • Disposal assessment: production outlook
    • Disposal assessment: cash flow outlook
    • Benchmark: 2018-2023 onstream decline rates
    • Repsol: pre-FID capex and NPV breakeven
    • Repsol: North America YTD* IRR
    • Repsol: North America reserves breakeven
    • Repsol net acreage summary
    • Repsol exploration success rate
  • Financial health
    • Repsol: upstream investment by dev. status
    • Benchmark: 2017-2021 capex/boe
    • Repsol year-end net debt outlook
    • Repsol projected cash flow breakeven
    • Repsol bond debt maturity schedule
    • Repsol: corporate free cash flow
  • Resources, reserves and production
    • Repsol: production outlook by region
    • Benchmark: production CAGR
    • Resources, reserves and production: Image 3
    • Benchmark: resources by resource theme
    • Benchmark: reserves and resource life
  • Portfolio summary
    • Repsol’s top 10 assets by NPV,10
  • Economic assumptions
    • Base price assumptions (nominal terms)
    • Base price assumptions (nominal terms)
    • Base, high and low Brent (nominal terms)
    • Economic assumptions: Table 2
    • Low price assumptions
    • Valuation assumptions
    • Foreign exchange rate assumptions
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