Oil & Gas IB
Hello all, I have a first round interview coming up with a BB in their O&G group for an Analyst position. Any tips on what to expect and how I can familiarize myself with the O&G industry from a business standpoint?
Any responses are appreciated. Thanks!
Search for a primer. Get up to date with macro-economic trends in the industry. Know what's happened in the past 12 months and have a view backed by logic about the industry for the future 12 months. Know about the 4 verticals. Know about the different basins. Know about the NAV model. Be able to answer the question about why you want to enter an industry that seems to be declining. Have solid answers for Why Energy, Why Houston.
"Why Houston" and "Why O&G" will be your two biggest questions. They hate people who use them to lateral to NYC
If they ask you about the future: say consolidation for BB and Rx for boutiques
That's helpful. Can you point me to any reading resources?
Google RBC or Deutsche Bank energy primer. RBC is shorter.
In addition to that, there's also a TPH primer that is really helpful. See if you can get your hands on that.
You could also try Rystad Energy. Fairly large proprietary intelligence house focusing solely on energy, and in particular O&G.
Rystad is solid; also read reports from Enverus, basically everything you can get your hands on related to Oil & Gas on Linkedin and Twitter; it's easy when they suggest pages to follow after you follow one source. E&P companies have posted their latest quarterly results/investor presentation so read those to familiarize yourself with the basins.
You can google and cram the basics (mergers and inquisitions is a good quick and dirty) of what you need to know about Oil & Gas valuation; it's not difficult to grasp if you already understand accounting. If you can, google or take advantage of your school's subscription to FactSet or CapIQ and familiarize yourself with transactions your interviewing bank has done of the past couple years.
Good luck.
honestly just don't
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