Citi Houston Superday help!!!

Hi,

I have a superday for Citi in Houston (the global energy group) this week. I am wondering how much I should know about O&G. It is not my area of expertise, so I'm trying to read up on it as much as I can before it.

If anyone has any tips or knowledge of what the interview entails AT ALL, or anything I should know related to oil and gas, please let me know!!!

Thanks!

Comments (15)

Dec 5, 2017

is this for ft or sa?

Dec 6, 2017

ft!

Dec 6, 2017

ft!

Dec 5, 2017

Know the price of the WTI, have an opinion on where you think the price of oil is heading, and might be helpful to know ebitdax is used for e&p companies. Hope that helps get you started

    • 1
Dec 5, 2017

ngl to boe

What concert costs 45 cents? 50 Cent feat. Nickelback.

    • 1
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Dec 5, 2017

research OPEC news too and inventory reports for oil EIA and API

Dec 5, 2017

Understand Net Asset Value (NAV) models, know relative WAACs for sub-verticals

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Best Response
Dec 5, 2017

I recruited for O&G but ended up accepting a SA offer on the west coast. However, I felt like I got some solid advice as I was going through the recruiting process for O&G.

1) Understand upstream, midstream, and downstream (figure out if the bank you're interviewing with focuses on one of these more than another)
2) Understand what a NAV model is
3) Have a GREAT reason for why Houston (in addition to why oil and gas). Articulate through your answer to this question that you are not going to take the SA experience and leverage it to another bank in NY or SF ,etc.
4) Know some of the major trends, such as what's going on in the Permian Basin
5) Know two O&G deals and what the rational was behind them

Other than that, approach the technicals/fit questions like any other investment banking interview. Good luck!

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Dec 5, 2017

To add to this comment...

1) Know about the shale revolution and what happened in the recent downturn.
2) Why does WTI trade at a discount to Brent? (Investopedia has a great video on this)
3) Along the lines of knowing what a NAV model is, know why to use it rather than a DCF and when (for upstream)
4) Know what influences oil prices ( Read Exxon's 10-k on this for the best answer)
5) Along with knowing each vertical, understand which vertical is the most volatile and which gives the highest return.
6) saying this again to stress the importance, if you mention a deal they did, try to understand WHY the deal even took place. (i.e. selling off assets in the eagleford to become a Permian pure-play where it is more cost effective to operate)

I haven't heard of Citi being very technical, but they are a very sharp group. Considering your interview is at the end of the recruitment process, I would expect it to be more fit questions. Best of luck!

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Dec 6, 2017

I can't help much from the banking interview perspective (I'm in undergrad for petroleum engr. and I haven't gone through banking recruitment yet) but this document is a pretty good overview of the industry, IMO

https://www.wallstreetoasis.com/files/DEUTSCHEBANK...
The only other advice I can give you is that especially with O&G not being your area of expertise, I'd recommend preparing a very good answer to "Why Energy?" With as big as Citi is, I guarantee that they're going to be interviewing people who live and breathe Energy, so you're going to want to come off as interested in the sector ya know?

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Dec 6, 2017
aggiebanker:

Has anyone been through it? Any tips for the last round?

Does Citi regularly recruit later in the season? I saw someone else's post in feb of 2011 for a energy corp finance job and was wondering how I would be able to get in touch with those recruiters if possible

Dec 6, 2017
arner23:
aggiebanker:

Has anyone been through it? Any tips for the last round?

Does Citi regularly recruit later in the season? I saw someone else's post in feb of 2011 for a energy corp finance job and was wondering how I would be able to get in touch with those recruiters if possible

Post was probably referencing SA jobs

Dec 6, 2017

Original post was made in 2009. Over the last few years, Houston banks have been moving the super days up earlier and earlier. Citi now has two SA superdays, both in January. One in the 2nd week, one in the 3rd week.

Dec 6, 2017
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