Oil & Gas Investment Banking: The First Victim of the ESG Cult?
Brian DeChesare
AUGUST 10, 2022
The entire Energy Services vertical is like a “high Beta” play on oil and gas prices. Essentially, the NAV Model is a super-long-term DCF without a Terminal Value. The Terminal Value doesn’t make sense in this vertical because oil and gas resources are finite; you can’t assume that a company will keep producing “forever.”.
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