Wall Street Prep O&G vs Premium Package

Hey guys, I am an incoming summer analyst at an EB in Houston. I plan on purchasing a modeling course from Wall Street Prep. I noticed that the Oil&Gas course has a lot of overlap with the Premium package. Any reason to purchase both? Does the premium package go into more detail on non-O&G specific topics such as DCF and LBO modeling?

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Comments (8)

Apr 20, 2018 - 4:12pm

Does your bank or UG provide access to WSP or TTS? You should check to see. My bank and school both provided access to WSP.

If you have little modeling/finance experience, I'd prioritize as follows,:

  1. WSP Financial Statement Modeling. This module provides a comprehensive and foundational modeling overview as well as reinforcement of accounting/finance.

  2. WSP DCF and LBO modules. These modules reinforce the FSM module and incrementally expands modeling and valuation skills. LBO valuation isn't as essential to O&G IB, but I think it provides great repetition.

  3. WSP NAV and comps modules. If you can do the above, then you'll pick up NAV and comps models much more easily this summer. The WSP NAV is fairly simplistic compared to what you'll see this summer - you can pick up the conceptual NAV knowledge from youtube videos.

Edit: I should add that your bank is almost certainly not expecting you to run NAV models from day 1, and you'll pick up NAV modeling much faster with good general financial modeling exposure than the reverse.

Apr 20, 2018 - 5:47pm

I think my bank uses WSP for training. Do you think they would give me early access if I asked for it?

Btw, I am an incoming 2019 Summer Analyst (I know it is ridiculously early). I am just looking to make an investment in 1 or 2 of the best online courses to gradually work through over the next year, so that I can be well prepared for whatever is asked of me next summer.

Best Response
Apr 20, 2018 - 5:59pm

I like the enthusiasm but you're better off reading the DB energy primer and understanding the energy value chain, reading every O&G article you can find, reading a bunch of E&P/midstream/OFS investor presentations, talking to professors about O&G/valuation, learning how to run comps/model a DCF, and THEN trying to learn some NAV/MLP modeling. Once you understand how a normal DCF works and how O&G all fits together, doing a NAV will be a breeze.

If you go into your EB internship and actually understand what's going on in the industry, you'll be way more useful from the jump than if you knew all about type curves. One of those can be taught in an afternoon, the other takes constant upkeep and I use everyday.

Apr 20, 2018 - 7:00pm

Would also highly recommend picking up Oil 101 by Morgan Downey. Maybe not read it cover-to-cover, but it's a really helpful reference source.

Hear me now, children, for my occupation is of much import. For 82 years I have been an oil man, a ‘baron’ some have called me. Now what does an oil baron do? The answer - crush your enemies! Grind their bones into dirt! Make them regret that they were ever born! Oil is not for the weak - it is the Earth’s milk, and only the strong may suckle at Mother’s teat!

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Mar 19, 2019 - 11:38am

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