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Oil & Gas Business Plan Template

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Oil and Gas Business Plan

Published Mar.28, 2024

Updated Apr.23, 2024

By: Alex Silensky

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Table of Content

The oil and gas sector is a highly regulated industry. A well-structured oil and gas business plan can help navigate these complexities.

According to a survey by EY, inadequate business planning is one of the top reasons oil and gas projects fail to achieve target profitability. “Firms that take a comprehensive approach through integrated business planning are better positioned to withstand market volatility and capitalize on opportunities,” notes Herb Listen, EY’s U.S. Oil & Gas Leader.

In this article, we’ll outline the key elements of an oil and gas business plan along with an oil and gas business plan template. By the end of this article, you’ll understand what it takes to develop a robust oil and gas drilling business plan.

What Is the Business Plan for an Oil and Gas Company?

A business plan for the oil and gas industry is a professional document that:

Outlines the company’s goals
Specifies strategies
Producing oil and gas resources

The oil and gas station business plan serves as:

A roadmap for the company’s operations
A tool for securing financing from investors or lenders

Here are some key components typically included in an oil and gas business plan:

Executive Summary: A concise overview of the business, its objectives, and the key elements of the oil and gas development business plan.
Company Description: Details about the company, its history, ownership structure, and legal form.
Industry Analysis: An assessment of the current state of the oil and gas industry, including market trends, competition, and regulatory environment.
Operations Plan: A description of the company’s operational processes, including techniques, methods, processes, and logistics.
Marketing Plan: An outline of the company’s plans for marketing and selling its oil and gas products, including target markets, pricing strategies, and distribution channels.
Management and Organization Team: Details about the company’s management team, organizational structure, and key personnel.
Financial Projections: Detailed financial forecasts, including projected financial statements, supported by assumptions and analyses.

The oil and gas company should tailor the oil and gas startup business plan to their specific goals and circumstances, and they should regularly update it to reflect changes in the industry, market conditions, and operations.

Why Do You Need a Business Plan Sample for an Oil and Gas Exploration Company?

There are a few key reasons why you would need a solid business plan, like the biodiesel business plan when starting your own oil and gas business:

Attract Investment: The oil and gas industry requires significant upfront capital for exploration, drilling, equipment, and operations. A detailed oil and gas upstream business model and plan demonstrates to potential investors a viable strategy for generating returns.
Guide Operations: An oil and gas field business plan serves as a roadmap for executing exploration and production activities. It lays out key milestones, timelines, capital expenditures needed, regulatory requirements, and operational plans.
Analyze Economics: Thorough market analysis, cost projections, pricing forecasts, and breakeven modeling allow testing the economic viability of prospects before committing major resources. The oil and gas exploration business plan quantifies potential returns and profits based on various scenarios.

To illustrate the importance of a sample business plan, let’s walk through the key sections of an oil and gas business plan template for a fictional oil and gas exploration firm called TX Energy:

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Clear and detailed

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Executive Summary

Business overview.

TX Energy is a newly formed independent oil and gas exploration and production company headquartered in Houston, Texas. Our mission is to become a leading operator in the Gulf of Mexico region through the acquisition and development of high-quality offshore prospects.

Management Team

With a seasoned management team that has over 100 combined years of experience in the offshore Gulf, we plan to leverage our deep industry knowledge and technical expertise to build a portfolio of attractive assets.

Business Strategy

Our initial focus will be on identifying and acquiring undervalued offshore leases with proven undeveloped reserves and executing low-risk, high-return drilling programs.

We are seeking $75 million in equity financing to fund lease acquisitions, drilling operations, and general working capital needs during our start-up phase.

Financial Projections

Financial projections show the potential for strong growth and returns, with estimated revenues of $50 million by Year 5.

Company Overview

TX Energy is an independent exploration and production company in the Gulf of Mexico. We were founded in 2024 by a team of seasoned industry professionals with a successful track record in this region.

Corporate headquarters: Houston, TX

Operating region: U.S. Gulf of Mexico

Business Concept

Leverage management’s expertise to:

Identify and acquire undervalued offshore leases
Optimize development plans for discovered resources
Execute low-risk, high-return drilling programs
Rapidly build a diversified portfolio of producing properties

Industry Analysis

The U.S. Energy Information Administration expects the demand for oil and natural gas will grow in the coming years. Some key industry statistics and forecasts:

The oil and gas market size is projected to increase from $7,625.82 billion in 2024 to $9,347.9 billion in 2028, with a CAGR of 5.2%. (Source – The Business Research Company )
The global oil demand is forecasted to rise by 1.7 million barrels per day (mb/d) in the first quarter of 2024. The expansion pace might slow down from 2.3 mb/d in 2023 to 1.3 mb/d in 2024. (Source – IEA )

Key Industry Drivers and Trends:

Business plan for investors.

Rapid adoption of subsea tiebacks and multi-well platforms to reduce costs
Increased interest in re-developing legacy fields using advanced recovery techniques
Growing regulatory oversight and focus on safety/environmental practices
Persistent workforce shortages requiring investment in training pipelines

Customer Analysis

Our primary customers will be midstream companies, refiners, and utilities purchasing our crude oil and natural gas production. We have identified the following key players as potential off-takers in the Gulf region:

Mid-Continent Oil Pipelines (Crude oil transport)
Kinder Morgan/BP (Natural gas processors)
Marathon Petroleum (Refiner)
Southern Company (Utility)

As a non-integrated independent producer, we will aim to establish long-term sales agreements and strategic relationships with creditworthy counterparties. Our go-to-market strategy will focus on:

Leveraging management’s industry network to engage top prospective customers early
Ensuring adequate takeaway capacity ahead of new wells coming online
Negotiating favorable pricing terms based on our high-quality offshore crude
Bundling gas production with crude offtakes where possible

Competitive Analysis

Large integrated operators such as Chevron, Shell, and BP, as well as several large independent companies, dominate the upstream market of the Gulf of Mexico. Fewer mid-sized players focus solely on exploiting stranded/bypassed reserves on the shelf. Our primary competitors include:

Our primary competitors include:

Relative to these competitors, our key advantages are:

Unrivaled management experience and technical capabilities specific to shelf opportunities
Exclusive focus on low-risk, quicker cycle time development projects
Simple value investment proposition vs. diversified multi-regional operators

Other competitive strengths include a projected low operating cost structure and established relationships with service companies active in the region.

Marketing Plan

TX Energy will position itself as the premier low-risk, low-cost developer of shelf oil and gas resources in the Gulf of Mexico. We will pursue a commodity-focused strategy, marketing our high-quality crude and gas production to maximize netbacks.

Pricing Strategy

As a non-integrated producer, we will pursue a commodity marketing strategy focused on achieving maximum netback pricing for our offshore production. Specific tactics include:

Crude oil – Secure term marketing agreements with refiners or marketers, pricing based on regional benchmarks like LLS or WTI
Natural gas – Pursue portfolio-based sales to LDCs, utilities, and marketers at Henry Hub+/- basis pricing

Sales & Distribution Channels

We will employ two primary sales and distribution channels:

Crude oil production – Pipeline connections from offshore platforms to main corridor pipelines like LOCAP and NGPL
Natural gas production – Subsea tiebacks into regional gathering systems and interstate/intrastate pipelines

Strategic Partnerships

Establishing strategic relationships across our supply chain will be a critical success factor. Key partnership areas include:

Offshore drilling contractors
Subsea construction and installation contractors
Pipeline companies and midstream providers
Supply boat and support vessel operators

Marketing Programs

Our key marketing initiatives will focus on building brand awareness and establishing TX Energy as a trusted and preferred supplier to Gulf Coast off-takers:

Investor marketing/participation at industry conferences and events
Working interest/royalty owner marketing of upcoming development projects
Direct outreach to commercial teams at potential customers
Development of professional digital marketing materials

Operations Plan

Oil & gas leases.

Our lease acquisition strategy will initially target offshore shelf properties with the following characteristics:

Water depths < 600 feet
Located near existing infrastructure to minimize upfront capital costs
Proven undeveloped reserves between 10-50 million BOE
Technically reasonable development plan via subsea tiebacks or platform drilling

We have already identified a pipeline of potential acquisition targets fitting this criteria. Once leases are acquired, we will conduct geologic and reservoir studies to high-grade the most attractive drilling opportunities.

Drilling & Completion Activities

We will utilize jack-up and submersible rig types commonly used on the shelf For relatively shallow drilling targets. We will use the best available techniques and technologies to drill all wells and to ensure maximum production rates and recoverable reserves.

Production, Facilities & Maintenance

Depending on the size and scope of each project, we will utilize either:

Subsea tiebacks to existing third-party infrastructure
New-build production platforms designed for unmanned operations

Environmental & Regulatory

We are committed to operating at the highest level of environmental, safety, and regulatory standards in offshore space. This includes comprehensive SEMS programs, oil spill prevention and response plans, and other mandatory policies/procedures.

Key regulatory bodies overseeing our operations include:

Bureau of Safety and Environmental Enforcement (BSEE)
Bureau of Ocean Energy Management (BOEM)
U.S. Coast Guard
Environmental Protection Agency

Organization & Management Team

TX Energy has assembled a world-class team with unmatched technical and regional expertise in the offshore Gulf of Mexico:

John Watson, Chief Executive Officer – John has 30+ years of offshore engineering and operations experience. He is a former VP of offshore at a major energy company with expertise in subsea tieback developments and shelf production.
Jane Litt, VP of Exploration – Jane has 25 years of experience in offshore Gulf exploration. She was previously a senior exploration advisor at a large independent oil company. She holds a Ph.D. in Petroleum Geology from Rice University.

Additional key hires planned for Year 1 include:

Drilling Manager
Production Engineer
HSE/Regulatory Specialist
Land/Legal Counsel
Accounting/Finance support

As we grow, certain additional functions like HR, IT, and engineering teams may be built out internally rather than fully outsourced.

Financial Plan

Based on our phased development plan and production ramp-up schedule, we are seeking $75 million in equity financing to fund TX Energy’s start-up and growth over the initial 5 years period:

Use of Funds

Offshore lease acquisitions: $25M
Capital expenditures (drilling/facilities): $30M
Operating expenditures: $15M
General working capital: $5M

Projected Profit & Loss Statement

Projected balance sheet, projected cash flow statement.

Overall, these projections in the coal mining business plan illustrate TX Energy’s ability to rapidly grow production, revenue, and cash flow in a capital-efficient manner and achieve strong economic returns for investors.

Partner With OGSCapital for a Professional Oil and Gas Business Plan

Over at OGSCapital, we understand just how crucial it is for independent oil and gas outfits to have a really solid, well-polished business plan. Whether you need to win over investors or secure financing from lenders, our team has got your back.

With more than 15 years of expertise in aiding both startups and established businesses in crafting thorough and persuasive business plans such as the renewable energy business plan and logistics business plan , we’re well-equipped to assist.

Download Oil and Gas Business Plan Sample in pdf

Frequently Asked Questions

Is oil and gas a good business?

Yes, because the oil and gas industry is one of the largest sectors in the world, generating over trillion in global revenue as of 2022. In 2024, the industry is expected to have solid growth.

How to start your own oil and gas company?

Starting an oil and gas company involves several steps:

Step 1: Do market research.

Step 2: Decide your geographical location.

Step 3: Build a team.

Step 4: Create an oil and petroleum business plan.

Step 5: Set up a legal entity (LLC, Corporation, etc.)

Step 6: Seek funding.

Step 7: Get the equipment.

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

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Sample Oil and Gas Business Plan

This article will be providing you with an oil and gas business plan guide or template.

The energy sector of every economy is huge and offers enormous investment opportunities. Whatever your niche area or interests are, starting a business can be very challenging.

However, having a plan makes the process a lot less difficult and helps with better coordination.

Here, we aim to help entrepreneurs who, though being experienced in the oil and gas sector have no idea how to launch their business operations.

OIL AND GAS BUSINESS PLAN SAMPLE

To better organize your plan, there are basic sections that cannot be left out. They touch on the different aspects of running a successful oil and gas business.

They include the executive summary, the company description, and the products & services sections.

Other crucial sections include the market analysis section, strategy & implementation, organization & management team as well as the financial plan & projections sections.

So, how do you develop each of these sections? You’ll want to read on to find out.

i. Executive Summary

As the introductory section of your plan, the executive summary gives a concise overview of your oil and gas business plan. What you should seek to do with this section is make and keep your audience interested by learning about your business.

The basics about your company should be known here.

The executive section always appears first in a plan. While this is true, it should be written last. The reason is this; it should capture all the key aspects of the business plan.

Consider adding certain sections like your business name & location, your services & products as well as your mission & vision statements. Also, the specific purpose of your plan should be added.

Business Name & Location

One of the first things you’ll need to include in your business name as well as its location. Introducing your business is paramount and gives your reader or a starting point on what the business is about.

How does your location positively impact your operations?

Services & Products

Here, you’ll need to give a breakdown of your oil and gas products and services . What specific niche area you involved with and how are your products and services beneficial to your clients.

People only pay for value and you should briefly discuss what value your services offer to your clients.

Mission & Vision Statements

The mission and vision statements of your oil and gas business should shed light on your company’s purposes, goals and values. Your mission statement should tell about why the business exists as well as the purpose it serves.

Also include information on what your business offers.

You should focus on what you seek to ultimately achieve with your oil and gas business for the mission statement. In a nutshell, the vision statement gives purpose to the existence of your business.

It’s important when writing this statement to never leave anything open to interpretation.

Specific Purpose

Every serious business has a purpose. What’s yours about? By clarifying your purpose or aims, your chances of achieving your goals are increased.

ii. Company Description

The company description section seeks to further reveal details about your oil and gas business. Basically, you want to explain who you are, your mode of operation as well as the goals you wish to achieve.

Details to be included are the legal structure of the company, as well as its brief history.

Being an oil & gas business, you’ll have to provide details on the needs or demands you intend to fill or meet.

The company description should give an overview of your services & products while also identifying your target market and your suppliers.

Also, include a summary of company growth backed by financial or market highlights.

Of course, this won’t be complete without a summary of your long and short-term goals including how you intend to make a profit.

iii. Products & Services

While this was covered in the executive summary section, only a summary of it was given.

This section takes a more detailed look at the products and services being offered by your oil & gas business with a focus on the benefits being derived by customers.

Here, you’ll also need to explain the market role of such products & services.

What edge or competitive advantages do your products & services have over those from competitors. Are there new products in the works? Provide information on such.

Here is a sample plan on crude oil refining .

iv. Market Analysis

A lot of work in the form of research is required to demonstrate your understanding of the oil and gas industry.

Your research should provide a detailed sketch of your target market with a focus on key aspects such as its size and demographics.

Have an industry description and outlook with statistics serving as proof. What more? There should be historical, current, and projected marketing data for your oil and gas business.

Also, include an evaluation of your competitors with a special focus on their weaknesses and strengths.

v. Strategy & Implementation

Strategy and implementation have a lot to do with sales and marketing. This is basically an operating plan on how you wish to sell and distribute your oil & gas products and services.

It focuses on market entry, pricing, costs, promotion, and distribution details.

What are your operational plans in regards to the operational cycle of the business? You also want to include information on labor sources as well as the number of employees you’ll need.

vi. Organization & Management Team

The organization & management team section discusses the organizational structure of the oil and gas business.

You want to provide a description of key departments as well as employees by providing an organizational chart.

There should be information about the owners, their level of involvement as well as percentage ownership. Also, profiles of your management team will be necessary.

vii. Financial Plan & Projections

Under the financial plan & projections section, you’ll need some expert help. The services of a professional accountant will suffice.

The key areas analyzed under this section include the historical financial data, realistic prospective financial information, and brief analysis of financial data.

With these points covered, your oil and gas business plan should be ready for implementation. You also stand the chance of getting the much-deserved financing required.

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Oil and Gas Business Plan with Wise Business Plans

Corporate oil & gas business plan development.

The Oil and Gas Business Planning industry continues to make new strides in the United States in the oil and gas companies, and many small business owners are finding ways to leverage the booming industry to create their own success stories. However, it takes more than a smart idea to start your engine and race toward success in this competitive field of petroleum.

Post-Pandemic Recovery

During May 2020, the amount of gasoline supplied to the market increased to nearly 5.9 million barrels a day, up from 5.1 million in the first week of April but well below the typically more than 9 million before the pandemic. On the other hand, gasoline saw a normalizing demand at around 55%, which improved by 64% during mid-2020. Industry experts expect a slow but steady recovery during 2021, giving hope to the industry operators.

Key Components of Petroleum Business:

The clarity in Products and Services- The COVID-19 crisis accelerates what was already shaping up to be one of the industry’s most transformative moments. The Wise Business Plans professionals take time to find out which pain point the product or service will be addressing and develop a business plan that accurately communicates it.
Costing Strategy- The costs associated with embarking upon a business in the Oil and Gas business industry can be challenging, especially in the post-pandemic era. On its current course and speed, the industry could now be entering an era defined by intense competition, technology-led rapid supply response, flat to declining demand, investor skepticism, and increasing public and government pressure regarding the impact on climate and the environment. However, under most scenarios, oil and gas will remain a multi-trillion-dollar market for decades. Given its role in supplying affordable energy, it is too important to fail. The question of how to create value in the next normal is therefore fundamental.
Trends- Trends are major in all segments of the economy but especially in those that directly impact the atmosphere. “Clients operating in this industry have to be aware of regulations, laws, and standards that are enacted by governing bodies. Without this type of information their business models could suffer significant losses”, says Mr. Ferriolo. “We do exhaustive, real-time research that protects the client and places them in the best possible position to succeed”, says Mr. Ferriolo.
Innovation- The industry will need to dig deep and tap its proud history of bold structural moves, innovation, and safe and profitable operations in the toughest conditions to change the current paradigm. The winners will be those that use this crisis to boldly reposition their portfolios and transform their operating models. Companies that don’t will restructure or inevitably atrophy.

How To Get Into The Oil Business

In the oil and gas sector, starting your own company requires a lot of capital, time, and expertise. Even so, as this industry produces multi-millionaires and yields a higher ROI than in any other industry, all your troubles and efforts will be worthwhile.

You should focus on these things if you have previous experience in this area and want to know how to start an oil company.

1. Decide Where to Invest

You can have a filling station or you can drill your wells in the oil and gas industry. One can choose from a variety of options: a service company, a product company, or a company that cleans up oil spills.

It is important to determine your motivations and strengths before making any detrimental moves in this field. Getting a sense of the amount of capital needed can help you make the right choice.

2. Make an Oil and Gas Business Plan

You need to make a detailed oil & gas business plan and list all your resources and liabilities after deciding what you want to focus on. It is imperative to include all the projected operating expenses in your petroleum business plans, such as insurance, permits, licenses, salaries, and ongoing expenses.

A business plan for an oil and gas company will serve as a blueprint for your business. Your business plan will be a valuable tool if you are considering applying for a loan or wish to attract investors. In case you have no prior experience creating business plans , In case you have no prior experience creating business plans, you can hire us to assist you.

Do You Need Help in Creating a Business Plan?

If you need a business plan writer , you no longer have to worry about the complexities of writing a professional business plan. Our MBA-qualified business plan writers have written over 15000+ business plans for over 400 industries in over a decade.

Let our professional business plan writers help you get funding

3. Identify Your Investors

Once you’ve decided what type of oil business is right for you and calculated the loans and funding you’ll need, the next step is to make sure you can get a fair loan.

To run any company in this field, you will need a fair amount of capital from the very beginning, so you may have to consider finding investors. Don’t worry about the capital Here are 7 ways to raise capital for getting into the oil business:

Self-Funding: If you look around, you may find the capital you need right in your own home. It may come from your already existing assets or savings. You retain full control of the business by providing the initial capital yourself. Angel investors and even single investors can influence the direction of a company.
Crowdfunding: A method of raising money from a large number of people. Several people pool their small investments to raise the capital needed to launch a company or project. It’s a win-win situation for you. Currently, U.S. oil is the most popular commodity in the world.
Angel Investor: Private or seed investors (also called angel investors) are high-net-worth individuals who provide financial support to small businesses in exchange for ownership equity. Furthermore, investors can also offer business advice. Particularly if they have oil and gas industry experience, this may be beneficial.
Friends and Family: Friends and families are the second-largest sources of business capital in the U.S. A family member will be aware of your work history or management experience. It’s likely that they already know about the potential of your gas or oil share, and may even have helped to acquire it.
Bank Loan: Getting a bank loan is probably the most traditional way to obtain start-up capital. As the bank wants to ensure that you can pay back the loan, you will likely be required to submit a lot of information during your initial application. Our experienced team has helped our clients raise millions in funding through banks (debt financing) and investors (debt/equity financing).
Small Business Administration (SBA): Despite its long history, the SBA is still a useful source of funding . They offer federally guaranteed loans of up to $5 million to “small” businesses. Furthermore, you will receive the funding you require without compromising your oil and gas business plan. The loan will also likely have light terms and interest rates. SBA’s goal is to boost the economy. A small business loan is one of the easiest ways to get cash. With decades of experience in business credit and lending, Wise Business Plans is uniquely suited to help you. You are just 4 steps away from getting a small business loan .

Pro Tip: Here is a step by step guide on 5 best places to find a venture capitalist

Wise Business Plans has decades of experience in early-stage investments, so we will help you get your first venture capital investment .

Do You Need Investment?

4. check the regulations.

You should check all the relevant regulations, licenses, and permits , as well as your tax identification number, before starting an oil business. You may be aware of some of them from previous experience, but you should always consult a business or tax attorney when addressing legal issues.

Do You Need a License to operate an Oil and Gas Business?

Wise business plans have eased the process to obtain a business license, which is generally necessary to operate an oil and gas business.

Let Wise help you Get your License to operate an Oil and Gas Business

5. Form a Legal Entity

Those in the group will want to shield themselves from personal liability. You can form a limited liability company (LLC) or an S corporation. An LLC is a flexible entity with elements of both a partnership and a corporation. To simplify federal income tax matters, S corporations elect to pass income and losses on to shareholders.

Need to Register an Oil and Gas Business?

We at Wise Business Plans provide you with a wide range of business formation services for incorporating a company in a way that makes the process easy and allows you to stay focused on other important tasks. Our business formation services include

Tax ID Number
LLC Formation
NonProfit Business Formation
S Corporation Registration

You can form your business entity in just 4 Simple Steps with Wise Business Plans

Open a Business Bank and Get Credit Cards

Personal asset protection is enhanced when you open specialized business banking and credit accounts.

When your personal and professional accounts are mixed, your personal assets (your home, automobile, and other valuables) are vulnerable if your company is sued.

Furthermore, learning how to establish business credit may assist you in receiving credit cards and other financial resources in your company’s name (rather than yours), improved interest rates, greater lines of credit, and more.

6. Set up a Business Bank Account.

Apart from being a requirement when applying for business loans, establishing a business bank account has several benefits.

Separates your personal belongings from your company’s assets, which is critical for personal asset protection.
Makes tax preparation and accounting simple.
It makes tracking expenses easier and more organized.

Recommended: To discover the greatest bank or credit union, read our Best Banks for Small Business review.

7. Open Net 30 Account

To establish and grow business credit, as well as improve company cash flow, net 30 payment terms are utilized. Businesses purchase products and pay off the whole amount within a 30-day period using a net 30 account.

Net 30 credit vendors are reported to the major business credit bureaus (Dun & Bradstreet, Experian Business, and Equifax Business Credit). This is the way businesses build business credit to qualify for credit cards and other lines of credit.

Recommended: Read our list of the top net 30 vendors guide to start getting business credit or simply open your net 30 account with wise business plans in seconds.

8. Get a Business Credit Card

It’s exciting to open a business credit card for your firm. A business credit card can assist you to establish credit, safeguard your company financially, access rewards (such as cashback), and simplify cash flow. It can also assist you to manage your expenditures.

Recommended: Learn more about the best business cards in our business credit card review.

9. Build a Great Team

When taking on such a venture, human capital plays a crucial role. You must determine how many employees you need to hire and whether they have enough experience and training to do their jobs well.

Here are some useful team-building tips which might help you in building your team.

10. Use Top-Notch Equipment

Make sure you use top-notch equipment to ensure and protect your business and investments. For those who work directly in the oil production sector, it is extremely important to ensure your piping, control, and measuring systems are all up-to-date.

If you plan to start a procurement and supply company, you should include quality general equipment, such as valves, pumps, and generators, along with personal safety equipment. By providing high-quality tubular to your customers, along with other drilling and wellhead equipment, you will stand out as a reliable and conscientious provider.

11. Choose an Exploration Site

Obtain county and/or state permits for drilling and land use. Execute a lease with the property owner and/or the owner of mineral rights once you determine which party owns the property and if there are no prior claims that might affect your exploration.

In case your seismic data indicates there could be a subsurface trap containing significant oil, drill multiple exploratory wells on the site. Provide all necessary supplies and equipment for well capping and storing oil in storage tanks prior to hiring a drilling company for this purpose.

Ensure that you have a plan for containing and transporting any natural gas and oil that may be present in your site’s reservoirs. Roads may need to be built to access the site. Trailers or other structures are necessary for offices and living accommodations. Communication capabilities should also be available at the site.

Business Planning for the Oil & Gas Sector

Vigilance is more than ever needed in crafting a solid oil and gas business plan. Smart planning showing commitment and consistency in intentions will always win financiers’ confidence. As part of that strategy, we’ve identified several key components that every oil and gas startup business plan must address, including:

Luckily, a properly written oil and gas business plan is a key element to the process that can help your business raise the necessary capital to purchase equipment, hire staff, and cover operating expenses as you plan to enter the Oil and Gas industry .

Oil And Gas Business Plan Writing Services

Wise Business Plans has had the privilege and the opportunity to create oil and gas Companies that support business owners in this foundational industry, and we have worked hard to build up a knowledge base and the research skills needed to be the premier online provider of oil and gas business plans.

When you’re ready to jump into the action, we’d love to help you start strong and make a mark in the world of energy production, so contact us today to get started on planning your future success.

Download a sample oil and gas business plans template for FREE to get an idea of the basic elements of oil and gas startup business plan writing. Also, you can quickly check our FAQ page for some basic questions and answers.

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It should be noted that there is no special software required to use these templates. All business plans come in Microsoft Word and Microsoft Excel format. Each business plan features:

Excecutive Summary
Company and Financing Summary
Products and Services Overview
Strategic Analysis with current research!
Marketing Plan
Personnel Plan
3 Year Advanced Financial Plan
Expanded Financial Plan with Monthly Financials
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1.0 Executive Summary

The purpose of this business plan is to raise $600,000 for the development of a private oil business while showcasing the expected financials and operations over the next three years. Oil Company, Inc. (“the Company”) is a New York based corporation that will extract oil from land leases within United States. The Company was founded by John Doe.

1.1 Products and Services

As stated above, the Company intends to acquire land leases on properties known to have oil deposits. The business will then develop facilities on these properties with the intent to extract and distribute oil for sale onto the open market. The initial capital sought in this business plan will allow the business can acquire its first land lease while concurrently sourcing the equipment needed to operate a moderate sized oil extraction operation. It should be noted that at all times, the business will comply with all applicable federal, state, and local laws (including OSHA) in order to ensure the safety of all employees working for the Oil Company. The third section of the business plan will further describe the operations conducted by the Oil Company.

1.2 The Financing

At this time, Mr. Doe is seeking $600,000 of private funds for the development of the Company’s oil extraction operations. Tentatively, Management is seeking to sell a 40% interest in the business in exchange for the capital sought in this business plan. The financing will be used for the following: • Development of the Company’s initial Oil Extraction location. • Financing for the first six months of operation. • Capital to purchase equipment for oil extraction.

1.3 Mission Statement

The Oil Company’s mission is to cost effectively extract oil from known deposits with the intent to sell the refined oil the open market.

1.4 Mangement Team

The Company was founded by John Doe. Mr. Doe has more than 10 years of exploration experience. Through his expertise, he will be able to bring the operations of the business to profitability within its first year of operations.

1.5 Sales Forecasts

Mr. Doe expects a strong rate of growth at the start of operations. Below are the expected financials over the next three years.

1.6 Expansion Plan

The Founder expects that the business will aggressively expand during the first three years of operation. As the business becomes profitable it will make substantial reinvestments into the Company’s land lease acquisition infrastructure. Additionally, the Company may seek to acquire additional land leases on proven grounds for oil extraction.

2.0 Company and Financing Summary

2.1 Registered Name and Corporate Structure

Oil Company, Inc. The business is registered as a for profit corporation in the State of New York.

2.2 Required Funds

At this time, the Company requires $600,000 of equity funds. Below is a breakdown of how these funds will be used:

2.3 Investor Equity

At this time, Mr. Doe is seeking to sell a 40% interest in the business in exchange for the capital sought in this business plan. The investor(s) will receive a seat on the board of directors and a regular stream of dividends starting in the first year of operations.

2.4 Management Equity

After the requisite capital is raised, Mr. Doe will retain a 60% ownership interest in the business.

2.5 Exit Strategy

The Management has discussed and planned for three possible exit strategies. The first strategy would be to sell the Company to a larger entity at a significant premium. Since, the oil extraction industry maintains a moderately low risk profile once the business is established; the Management feels that the Company could be sold for ten to fifteen times earnings. The second exit scenario would entail selling a portion of the Company via an initial public offering (or “IPO”). After a detailed analysis, it was found that comparable companies sell for ten to fifteen times earnings on the open market. However, taking a company public involves significant legal red tape. Oil Company, Inc. would be bound by the significant legal framework of the Sarbanes-Oxley Act in addition to the legal requirements set forth in form S1 of the Securities and Exchange Commission. The Company would also have to comply with the Securities Act of 1933 and the Exchange Act of 1934. The last exit scenario would involve the use of a private placement memorandum to raise additional capital from private sources. This is also a significantly expensive process that requires the assistance of both an experienced securities law firm and an investment bank. Funds would be raised from private equity and merchant banking sources in exchange for a percentage of the Company’s stock.

3.0 Products and Services

As stated in the executive summary, the Company intends to operate in an oil extraction capacity. Prior to the onset of operations, Mr. Doe will have acquired a land lease on a property that is known to have oil deposits. At this time, it is unclear as to the method that the Company will use in order to extract oil. The most profitable method of exacting oil would be to lease an existing facility with the intent to extract deposits from the underlying soil. This manual method of precious oil acquisition would provide the greatest return on investment for the business. The Company, depending on its land lease, may engage in deep oil extraction if the land is known to have a significant amount of oil/natural gas that is buried deep within the ground. Mr. Doe is also sourcing the necessary equipment so that the business can immediately begin its operations once the land lease has been acquired. The facility will also have all of the necessary chemical treatment to allow the business to distribute its oil deposits directly into the open market.

4.0 Strategic and Market Analysis

4.1 Economic Outlook

This section of the analysis will detail the economic climate, the oil extraction industry, the customer profile, and the competition that the business will face as it progresses through its business operations. Currently, the economic market condition in the United States is moderate. The meltdown of the sub prime mortgage market coupled with increasing gas prices has led many people to believe that the US is on the cusp of a double dip economic recession. This slowdown in the economy has also greatly impacted real estate sales, which has halted to historical lows. However, oil companies operate with great economic stability as it is a product that is in continued demand. This is especially true in today’s economic environment as inflation has pushed the price of oil substantially over the last 12 months. As long as oil prices continue to rise, the business should have no issues producing a continuous profit from its extraction operations.

4.2 Industry Analysis

Localized oil extraction is a $3 billion dollar a year business in the United States. Within the industry there are over 200 domestic providers of oil extraction operations that operate within 20 states. The industry employs more than 10,000 people and provides adjusted annualized payrolls in excess of $500,000,000 dollars. The growth rate of this industry has been tremendous with the recent resurgence of inflation. The prices of oil and related energy products have increased substantially as investors have sought the safe haven of commodities in lieu of the falling value of the dollar. This demand is expected to remain strong in the face of inflationary pressures.

4.3 Customer Profile

As Oil Company, Inc. intends to sell its oil directly to wholesalers in the open market, is it difficult to determine the “average customer” of the business. Any company engaged in the buying and selling of energy products is a potential buyer for the Company.

4.4 Competitive Analysis

This is one of the sections of the business plan that you must write completely on your own. The key to writing a strong competitive analysis is that you do your research on the local competition. Find out who your competitors are by searching online directories and searching in your local Yellow Pages. If there are a number of competitors in the same industry (meaning that it is not feasible to describe each one) then showcase the number of businesses that compete with you, and why your business will provide customers with service/products that are of better quality or less expensive than your competition.

5.0 Marketing Plan

The marketing campaigns required by Oil Company, Inc. are minimal as the business will sell its extracted oil directly to the open market. As such, it is imperative that any marketing expenditures undertaken by the Company focus on developing relationships with metals wholesalers and property management firms that will seek and lease land to the business.

5.1 Marketing Objectives

• Develop relationships with specialty property management firms that will lease land to the business for its oil extraction operations.

• Establish relationships with oil wholesalers within the targeted market.

5.2 Marketing Strategies

Prior to the onset of operations, Mr. Doe will develop ongoing purchase order relationships (based on market prices) with national and international energy product dealers and wholesalers that will acquire the Company’s inventory of extracted oil. In order to complete this aspect of Oil Company’s marketing operations, Mr. Doe will directly contact well known energy wholesalers. As these buyers are constantly searching for new sources, developing these relationships will not be an issue. Additionally, the Company will make its presence known among real estate agents and property management firms that specialize in the sale and placement of leases for land that is known to carry oil deposits. Much like with the oil wholesalers/dealers, Mr. Doe will directly contact these companies in order to develop working relationships.

5.3 Pricing

In this section, describe the pricing of your services and products. You should provide as much information as possible about your pricing as possible in this section. However, if you have hundreds of items, condense your product list categorically. This section of the business plan should not span more than 1 page.

6.0 Organizational Plan and Personnel Summary

6.1 Corporate Organization

6.2 Organizational Budget

6.3 Management Biographies

In this section of the business plan, you should write a two to four paragraph biography about your work experience, your education, and your skill set. For each owner or key employee, you should provide a brief biography in this section.

7.0 Financial Plan

7.1 Underlying Assumptions

• Oil Company, Inc. will have an annual revenue growth rate of 16% per year.

• The Founder will acquire $600,000 of equity funds to develop the business.

• Mr. Doe will sell a 40% equity interest in the business in exchange for the requisite capital sought in this business plan.

7.2 Sensitivity Analysis

In the event of an economic downturn, the business may have a decline in its revenues. In an economic recession, the demand for oil decreases as people will have less discretionary income. However, in today’s economic climate, inflation has become a serious concern, and investors have driven up the price of oil up substantially as a safe investment to hedge against inflationary risks. As such, the business should have very few issues regarding top line income.

7.3 Source of Funds

7.4 General Assumptions

7.5 Profit and Loss Statements

7.6 Cash Flow Analysis

7.7 Balance Sheet

7.8 General Assumptions

7.9 Business Ratios

Expanded Profit and Loss Statements

Expanded Cash Flow Analysis

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Oil And Gas Business Plan Template

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Financial planning, raising capital, human resources, marketing strategies, risk management, technology solutions.

Why write a business plan?

Business Plans can help to articulate and flesh out the business’s goals and objectives. This can be beneficial not only for the business owner, but also for potential investors or partners
Business Plans can serve as a roadmap for the business, helping to keep it on track and on target. This is especially important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place.
Business plans can be a valuable tool for communicating the business’s vision to employees, customers, and other key stakeholders.
Business plans are one of the most affordable and straightforward ways of ensuring your business is successful.
Business plans allow you to understand your competition better to critically analyze your unique business proposition and differentiate yourself from the market.
Business Plans allow you to better understand your customer. Conducting a customer analysis is essential to create better products and services and market more effectively.
Business Plans allow you to determine the financial needs of the business leading to a better understanding of how much capital is needed to start the business and how much fundraising is needed.
Business Plans allow you to put your business model in words and analyze it further to improve revenues or fill the holes in your strategy.
Business plans allow you to attract investors and partners into the business as they can read an explanation about the business.
Business plans allow you to position your brand by understanding your company’s role in the marketplace.
Business Plans allow you to uncover new opportunities by undergoing the process of brainstorming while drafting your business plan which allows you to see your business in a new light. This allows you to come up with new ideas for products/services, business and marketing strategies.
Business Plans allow you to access the growth and success of your business by comparing actual operational results versus the forecasts and assumptions in your business plan. This allows you to update your business plan to a business growth plan and ensure the long-term success and survival of your business.

Business Plan Content

Executive Summary
Company Overview
Industry Analysis
Consumer Analysis
Competitor Analysis & Advantages
Marketing Strategies & Plan
Plan of Action
Management Team

The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.

The financial forecast has been excluded from the business plan template. If you’d like to receive the financial forecast template for your start-up, please contact us at [email protected] . Our consultants will be happy to discuss your business plan and provide you with the financial forecast template to accompany your business plan.

Instructions for the Business Plan Template

To complete your perfect oil and gas business plan, fill out the form below and download our oil and gas business plan template. The template is a word document that can be edited to include information about your oil and gas business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.

Ongoing Business Planning

Want a bespoke business plan for your oil and gas business, our expertise, oil and gas business plan template faqs, what is a business plan for a/an oil and gas business, how to customize the business plan template for a oil and gas business, what financial information should be included in a oil and gas business plan, are there industry-specific considerations in the oil and gas business plan template, how to conduct market research for a oil and gas business plan, what are the common challenges when creating a business plan for a oil and gas business, how often should i update my oil and gas business plan, can i use the business plan template for seeking funding for a oil and gas business, what legal considerations are there in a oil and gas business plan.

Navigating Oil and Gas Business Development: Proven Strategies for Success

Nov 14, 2023

Matt Bertram

Today, let’s explore the intricate realm of the oil and gas industry and uncover the tried-and-true strategies for effective business development . But first, let’s clarify the distinction between business development and sales—a crucial understanding for a holistic approach to growth.

Understanding Business Development

Oil and gas business development is the strategic process of identifying, pursuing, and acquiring new opportunities and partnerships within the oil and gas industry. It involves activities aimed at fostering growth, creating valuable relationships, and expanding the reach of businesses operating in the oil and gas sector such as hour hours, industry lunchins and conferences. This multifaceted approach goes beyond traditional sales by encompassing elements such as social selling, and now online research and market analysis, identifying potential clients on LinkedIn or other methods, crafting unique value propositions, and adapting to the ever-evolving landscape of the oil and gas industry. Successful oil and gas business development strategies often include a combination of innovation, targeted outreach on social media and by phone, and a deep understanding of the challenges and opportunities within the energy sector to you can articulate to your prospects that you product or service solves their problem.

At its core, business development strategically pursues new business, while sales executes on revenue generation. Ideally, the business development function integrates sales, marketing, and product development for a comprehensive growth strategy for B2B . I would even say that Account Based Selling ( ABS ) fits into this here.

Proven Strategies for Oil and Gas Business Development

Now, let’s delve into the key strategies that can elevate your business development efforts in the dynamic landscape of oil and gas.

Identifying and Solving Core Problems:

Your product or solution addresses specific problems. A thorough understanding of these problems lays the foundation for effective business development.

Imagine there’s a challenge with detecting leaks in pipelines. Leaks not only lead to environmental concerns but can also be super costly for companies. So, a nifty solution could be a smart sensor technology designed specifically for pipelines.

These sensors could be placed strategically along the pipeline route to constantly monitor for any signs of leaks or abnormalities. They might use advanced algorithms to analyze data in real-time, instantly flagging any potential issues to operators.

Now, imagine this system is equipped with predictive analytics. It doesn’t just detect leaks when they happen, but it can also predict when a leak might occur based on various factors like pressure fluctuations or temperature changes.

This predictive capability allows operators to take proactive measures, like scheduling maintenance before a leak even happens, saving both time and money while preventing environmental harm.

Plus, these sensors could be integrated with cloud-based platforms, allowing operators to monitor their entire pipeline network remotely from anywhere in the world. It’s like having eyes and ears all along the pipeline, even in the most remote locations.

So, by leveraging smart sensor technology with predictive analytics and remote monitoring, this solution addresses the critical issue of pipeline leaks head-on, making the oil and gas industry safer, more efficient, and more environmentally friendly.

API Talk Business Development Selling Talk 2024

Pinpointing Your Target Audience:

In the oil and gas sector , identifying those experiencing the identified problem is crucial. Knowing the titles and roles of impacted individuals allows for precise outreach.

Let’s say you’ve developed a groundbreaking solution aimed at optimizing offshore drilling operations. To make a real impact, you need to identify the key players within oil and gas companies who are directly involved in offshore drilling.

These could include drilling engineers responsible for planning and executing operations, operations managers overseeing day-to-day activities, procurement managers handling equipment purchases, health, safety, and environment (HSE) managers ensuring compliance, and C-suite executives steering strategic decisions.

By tailoring your messaging to resonate with each of these stakeholders, highlighting how your solution addresses their specific concerns and contributes to their objectives, you can effectively communicate its value proposition and drive adoption within the industry.

Crafting Unique Value Propositions:

Every problem solved has a distinct value proposition. Whether enhancing shareholder value or improving operational efficiency, tailor your narrative to resonate with your specific audience.

For instance, innovative drilling technologies promise to revolutionize operations by significantly reducing costs and boosting efficiency. Meanwhile, a growing emphasis on environmental sustainability has spurred the development of clean energy solutions tailored to oil and gas operations, offering substantial emissions reductions without sacrificing performance.

Additionally, advancements in safety equipment and protocols aim to mitigate risks inherent in offshore operations, ensuring the well-being of personnel and regulatory compliance. Furthermore, the integration of data-driven analytics enables companies to make informed decisions, optimizing production processes and maximizing profitability.

Lastly, manufacturers offering reliable and high-performance equipment contribute to operational reliability, minimizing downtime and maximizing output. These diverse value propositions address critical pain points within the industry, offering tailored solutions that promise tangible benefits such as cost savings, environmental stewardship, safety enhancements, data-driven insights, and operational efficiency.

Adaptable Narratives for Diverse Stakeholders:

Different stakeholders have different perspectives. Be adaptable, crafting stories and messages that align with the priorities of various target audiences.

magine you’re at the forefront of thought leadership in the oil and gas industry. You understand that stakeholders like investors, regulators, employees, and local communities all have unique perspectives and priorities. So, it’s crucial to be adaptable in your storytelling approach.

For investors, you might craft narratives focusing on innovation, cost-effectiveness, and long-term sustainability. Highlight how your company’s cutting-edge technologies or strategic partnerships are driving growth and delivering value to shareholders.

When it comes to regulators, emphasize compliance, safety, and environmental responsibility. Share stories about your proactive measures to exceed regulatory standards, safeguarding both people and the planet.

For employees, weave narratives that inspire pride and motivation. Celebrate their contributions to the company’s success, and share stories of career growth, training initiatives, and workplace safety measures that prioritize their well-being.

And let’s not forget about local communities. Tailor your storytelling to showcase your company’s commitment to social responsibility, community engagement, and economic development. Share stories of partnerships with local organizations, job creation initiatives, and environmental conservation efforts that benefit the communities where you operate.

By being adaptable and crafting narratives that resonate with the priorities of each stakeholder group, you can build trust, foster meaningful connections, and position your company as a thought leader driving positive change in the industry.

Measure, Analyze, and Optimize:

Implement metrics to measure the success of your business development initiatives. Identify strategies that yield significant results and focus your efforts on those that contribute 80% of the impact.

It’s all about keeping a close eye on what’s happening, figuring out what’s working like a charm, and then fine-tuning your efforts to make the most impact.

Let’s say you’re drilling for oil. You start by measuring key performance indicators like drilling efficiency and production rates. Then, you dive into the data, analyzing everything from drilling techniques to reservoir performance. And here’s the cool part—you use those insights to optimize your approach. Maybe you discover that a certain drilling method leads to higher production rates with lower costs. Boom! You focus your efforts there, maximizing your returns and minimizing expenses.

Now, let’s talk supply chain. You’re measuring stuff like inventory turnover and transportation costs, right? Then, you crunch the numbers, looking for any bottlenecks or inefficiencies. And when you find them, you’re all about optimization. Maybe you streamline your inventory management or find a more efficient way to transport materials. The result? Smoother operations, lower costs, and happier stakeholders.

And hey, safety’s always a top priority. You’re measuring safety metrics like injury rates and regulatory compliance. Then, you’re digging into the data, trying to spot any trends or areas for improvement. Once you’ve got that figured out, it’s all about optimization. You beef up your safety training programs, tighten up procedures, and invest in tech that keeps everyone safe on the job.

And let’s not forget about asset maintenance. You’re measuring reliability, maintenance costs, and downtime rates. After analyzing the data, you’re tweaking your maintenance strategies, maybe shifting towards predictive maintenance to catch problems before they even happen.

So, whether you’re drilling for oil, managing the supply chain, ensuring safety, or maintaining assets, the “Measure, Analyze, and Optimize” approach is your secret sauce for success in the oil and gas game. It’s all about staying sharp, staying efficient, and making the most out of every opportunity that comes your way.

EWR Digital Marketing Agency Growth Methodology

Establishing a Feedback Loop:

Create a feedback loop channeling insights from business development back to product development, sales, and marketing. Tailor your messaging and content based on the unique needs of various stakeholders.

Accelerate Success:

Once successful strategies are identified, allocate resources to accelerate those initiatives. This targeted approach ensures quicker revenue growth.

These proven strategies serve as a blueprint for our work with clients in the oil and gas industry. We comprehend the unique challenges and opportunities this sector presents, and by implementing these strategies, we’ve witnessed accelerated success.

Setup a call today with one of our oil and gas marketing consultants!

Matt Bertram speaking API panel discussion Houston

EWR Digital for your Oil and Gas Marketing

Trust us with your go-to-market strategy , and here’s why:

Industry Expertise:

With a deep understanding of the oil and gas sector, we bring unparalleled industry expertise to the table. Our team comprehensively grasps the challenges and opportunities unique to your business.

Proven Track Record:

EWR Digital boasts a track record of success, having propelled numerous oil and gas businesses to new heights. Our results-driven approach and client success stories speak volumes about our commitment to excellence.

Tailored Strategies:

We don’t believe in one-size-fits-all solutions. Your business is unique, and so is our approach. EWR Digital crafts tailored marketing strategies that align with your specific goals, ensuring maximum impact and ROI.

Digital Prowess:

In a rapidly evolving digital landscape, we stand out with our cutting-edge digital marketing strategies. From SEO and social media to content creation and data analytics, we leverage the latest tools to elevate your brand in the digital realm.

Customer-Centric Focus:

Your customers are at the heart of our strategy. EWR Digital places a strong emphasis on understanding your target audience, addressing their needs, and creating engaging content that builds lasting connections.

Adaptability and Innovation:

The oil and gas industry is dynamic, and so are we. EWR Digital embraces change, staying ahead of industry trends and technological advancements. Our adaptability ensures your marketing strategy remains relevant and effective.

Transparent Communication:

Communication is key to a successful partnership. EWR Digital prioritizes transparent communication, keeping you informed at every stage. We believe in collaboration and work closely with you to refine strategies for optimal results.

Measurable Results:

Our commitment to measurable results sets us apart. EWR Digital provides comprehensive analytics and regular reporting, giving you a clear understanding of the impact of our marketing efforts on your business objectives.

In the fiercely competitive realm of oil and gas, rely on EWR Digital not merely as a marketing agency but as your dedicated strategic ally, committed to steering you towards unparalleled success. Join us on this collaborative journey as we elevate your brand to unprecedented heights within the industry.

oil and gas marketing agency, clutch global, digital marketing, sales

Oil and Gas Company Marketing Plan Template

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In the competitive world of oil and gas, having a well-defined marketing plan is essential for success. ClickUp's Oil and Gas Company Marketing Plan Template is here to help you navigate the complexities of the industry and drive your business forward.

With this template, you can:

Conduct in-depth market analysis to identify trends, opportunities, and challenges
Define your target audience and create tailored strategies to reach them effectively
Develop a competitive positioning strategy to differentiate your company from the rest
Implement pricing strategies that maximize profitability without sacrificing customer satisfaction
Launch impactful promotion and advertising campaigns that capture attention and drive results
Maintain and strengthen relationships with existing clients through effective relationship management

Don't let the competition leave you behind. Get started with ClickUp's Oil and Gas Company Marketing Plan Template and take your business to new heights.

Benefits of Oil and Gas Company Marketing Plan Template

An effective marketing plan is vital for any oil and gas company looking to thrive in a competitive market. The Oil and Gas Company Marketing Plan Template helps you achieve success by:

Conducting in-depth market analysis to identify opportunities and stay ahead of competitors
Defining your target audience and tailoring your messaging to resonate with them
Developing a strong competitive positioning to differentiate your company from others in the industry
Implementing effective pricing strategies to maximize profitability
Creating impactful promotion and advertising campaigns to reach and attract new clients
Establishing and maintaining strong relationships with existing customers to enhance loyalty and retention

Main Elements of Oil and Gas Company Marketing Plan Template

ClickUp's Oil and Gas Company Marketing Plan template provides a comprehensive solution to streamline your marketing efforts in the industry. Here are the main elements of this List template:

Custom Statuses: Stay on top of your marketing tasks with 6 different statuses including Cancelled, Complete, In Progress, Needs Input, Planned, and To Do, allowing you to easily track progress and prioritize tasks.
Custom Fields: Utilize 6 custom fields such as Quarter, Task Type, Impact, Progress, Percent Completion, and Effort to add specific details to each task, enabling you to capture essential information about marketing initiatives.
Custom Views: Access 5 different views, including Key Results, Timeline, Getting Started Guide, Objectives, and Progress Board, to gain a comprehensive overview of your marketing plan, track key milestones, set objectives, and monitor progress towards your goals.
Project Management: Leverage ClickUp's powerful project management capabilities with features like task dependencies, time tracking, collaboration tools, and integrations to enhance your marketing efforts and drive success in the oil and gas industry.

How to Use Marketing Plan for Oil and Gas Company

If you're an oil and gas company looking to create an effective marketing plan, follow these five steps using the ClickUp Marketing Plan Template:

1. Define your target audience

Start by identifying your target audience. Who are the key decision-makers in the oil and gas industry that you want to reach? Determine their demographics, pain points, and motivations. This information will help you tailor your marketing efforts to effectively reach and engage your target audience.

Use custom fields in ClickUp to capture and organize key information about your target audience.

2. Set clear marketing objectives

Next, establish clear marketing objectives that align with your company's overall goals. Are you looking to increase brand awareness, generate leads, or promote a new product or service? Clearly define what you want to achieve through your marketing efforts.

Use Goals in ClickUp to set specific and measurable marketing objectives.

3. Develop a comprehensive marketing strategy

With your target audience and objectives in mind, develop a comprehensive marketing strategy. Determine the channels and tactics you will use to reach your audience, such as social media advertising, content marketing, email campaigns, or industry events.

Use the Board view in ClickUp to create a visual representation of your marketing strategy, with columns for each channel or tactic.

4. Create a content calendar

To ensure consistent and strategic content creation, develop a content calendar. Plan out the topics, formats, and distribution dates for your blog posts, social media content, videos, and other marketing materials. This will help you stay organized and ensure that your content aligns with your marketing objectives.

Use the Calendar view in ClickUp to create and manage your content calendar, with tasks for each piece of content and due dates.

5. Track and measure your results

Finally, regularly track and measure the success of your marketing efforts. Monitor key metrics such as website traffic, social media engagement, lead generation, and conversion rates. Analyze the data to identify what's working and what needs improvement, and make adjustments to your marketing plan accordingly.

Use Dashboards in ClickUp to create visualizations of your marketing metrics and track your progress towards your marketing objectives.

By following these steps and utilizing the ClickUp Marketing Plan Template, you can create a comprehensive and strategic marketing plan for your oil and gas company.

Get Started with ClickUp’s Oil and Gas Company Marketing Plan Template

Oil and gas companies can use this Marketing Plan Template to streamline their marketing efforts and achieve their business goals.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create an effective marketing plan:

Use the Key Results View to track your marketing goals and measure their success
The Timeline View will help you visualize your marketing plan and set deadlines for each task
Refer to the Getting Started Guide View to get a step-by-step overview of how to create your marketing plan
Use the Objectives View to define your marketing objectives and align them with your overall business goals
The Progress Board View will allow you to track the progress of each marketing task and make adjustments as needed
Organize tasks into six different statuses: Cancelled, Complete, In Progress, Needs Input, Planned, To Do, to keep track of progress
Update statuses as you progress through tasks and collaborate with team members
Monitor and analyze tasks to ensure your marketing plan is delivering the desired results

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Diesel Distribution and Supply Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » Oil & Gas Sector

Are you about starting a diesel distribution business? If YES, here is a complete sample diesel supply business plan template & feasibility report you can use for FREE .

Okay, so we have considered all the requirements for starting a diesel distribution and supply business . We also took it further by analyzing and drafting a sample diesel distribution marketing plan template backed up by actionable guerrilla marketing ideas for diesel distribution and supply businesses. So let’s proceed to the business planning section.

The rule of thumb in choosing a business to launch is to look out for a business whose products or services are in high demand. A diesel distribution and supply business is one such business but you must have the right exposure and finances.

If you are sure that this type of business is what you truly want to do after you must have conducted your market research and feasibility studies, then the next step to follow is to write a good business plan; a detailed blue print of how you intend raising your seed capital, setting up the business, managing the flow of the business, sorting out tax and marketing your services amongst other areas.

Below is a sample diesel distribution and supply business plan template that will help you successfully launch your own business.

A Sample Diesel Distribution and Supply Business Plan Template

1. industry overview.

Diesel distribution and supply business is classified under the Fuel Dealers industry and players in this industry sell diesel, heating oil, propane and other fuels directly to end users. Related companies also deliver heating oil, propane and other fuels, such as auto – gas and kerosene, to domestic and commercial premises.

Please note that the Fuel Dealers industry has moderate barriers to entry. Entrepreneurs that intend entering the industry must gain access to cost-effective and reliable sources of heating oil and propane for distribution. They also need to attract a customer base, most commonly away from existing operators. High industry competition limits access to customers.

New operators lack economies of scale because they have few customers when first entering the industry. If customers are geographically distant, transportation costs may be prohibitive due to high per-unit expenses. Since the industry’s products are substitutable, operators differentiate themselves through service and efficiency.

The Fuel Dealers industry is a thriving sector of the economy of the united states of America and the industry generates over billion annually from more than 11,419 registered and licensed fuel dealers (diesel distribution and supply) in the country.

The industry is responsible for the employment of over 78,218 people. Experts project the Fuel Dealers industry to grow at a -5.6 percent annual rate between 2012 and 2017. It might interest you to know that only AmeriGas can boast of having the lion market share of the available market in the United States.

A recent report published by IBISWorld shows that a large majority of Fuel Dealers industry revenue is derived from heating oil and propane sales for household heating purposes.

Revenue generated from these sales fluctuates wildly every year, typically in line with changes in weather conditions and fossil-fuel prices. Revenue grew steadily in 2013 and 2014 as the particularly severe winter in early 2014 led to substantially greater fuel sales.

However, the industry is fighting to maintain its customer base as more buildings are refitted with less-expensive heating units, increasing external competition. Nevertheless, industry revenue is expected to gradually recover over the five years to 2023, largely due to an expected annualized increase of 4.4 percent in the world price of crude oil.

Some of the factors that encourage aspiring entrepreneurs to start a diesel distribution and supply business is the fact that the market is growing rapidly in the United States and it is not seasonal.

That makes it easier for entrepreneur who are interested in the business to come into the industry at any time they desire; the entry barriers might be high but that any serious – minded entrepreneur can comfortably raise the startup capital even if it means collecting loans from the bank.

Over and beyond, the Fuel Dealers industry is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business as long as they are able to obtain the required license and permits; you can choose to start on a small scale and supply on a community level or you can choose to start on a large scale with distribution network spread across key cities all around the United States of America.

2. Executive Summary

Julius Padres® Diesel Distribution Company, Inc. is a registered fuel dealer company that will be involved in the distribution of diesel and other fuels to retailers, industries, household, hotels and restaurants et al. Our warehouse cum administrative office will be located in Waco – Texas.

We have been able to lease a warehouse facility that can fit into the kind of diesel distribution and supply company that we intend launching and the facility has easy delivery network. Julius Padres® Diesel Distribution Company, Inc. will distribute a wide range of fuels such as Diesel, Propane, Heating oil, Gasoline and Automotive fuels to end users at affordable prices.

We are aware that there are several diesel distribution and supply companies and contractors all around Waco – Texas, which is why we spent time and resources to conduct our feasibility studies and market survey so as to offer much more than our competitors will be offering. We have robust distribution network and strong online presence.

Beyond the distribution and supply of diesel, our customer care is going to be second to none in the whole of Waco – Texas and our deliveries will be timely and highly reliable. We know that our customers are the reason why we are in business which is why we will go the extra mile to get them satisfied when they patronize our products.

Julius Padres® Diesel Distribution Company, Inc. will ensure that all our customers are given first class treatment whenever they order diesel and other fuels from us. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large they may grow to.

Julius Padres® Diesel Distribution Company, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

Julius Padres® Diesel Distribution Company, Inc. is owned by Julius Padres. He has a B.Sc. in Business Administration, with over 8 years of hands on experience in the retailing and distribution industry, working for some of the leading brand in the United States.

3. Our Products and Services

Julius Padres® Diesel Distribution Company, Inc. is in the industry to distribute a wide range of quality and safe diesel and other fuel products.

We are in the diesel distribution and supply industry to make profits and we will ensure that we do all that is permitted by the law in the United States to achieve our business aim and objectives. Our products and services offerings are listed below;

Heating oil
Automotive fuels
Other fuels

4. Our Mission and Vision Statement

Our vision is to become the ‘go to’ diesel distribution and supply company in the whole of Waco – Texas.
Our mission is to establish a diesel distribution and supply business that will distribute a wide range of quality fuel at affordable prices to retailers, households, industries, hotels and restaurants et al in Waco and other cities in Texas where we intend marketing our services and products.

Our Business Structure

Our intention of starting a diesel distribution and supply business is to build a standard diesel distribution and supply business in Waco – Texas. We will ensure that we put the right structures in place that will support the kind of growth that we have in mind.

We will make sure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business. As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more.

In view of that, we have decided to hire qualified and competent hands to occupy the following positions that will be made available at Julius Padres® Diesel Distribution Company, Inc.;

Chief Executive Officer (Owner)
Depot Manager
Human Resources and Admin Manager

Sales and Marketing Manager

Information Technologist

Accountants/Cashiers
Customer Services Executive
Drivers / Distributors

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, appraising job results and developing incentives
Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
Responsible for fixing prices and signing business deals
Responsible for providing direction for the business
Responsible for signing checks and documents on behalf of the company
Evaluates the success of the organization
Reports to the board

Admin and HR Manager

Responsible for overseeing the smooth running of HR and administrative tasks for the organization
Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
Defines job positions for recruitment and managing interviewing process
Carries out induction for new team members
Accountable for training, evaluation and assessment of employees
Responsible for arranging travel, meetings and appointments
Oversees the smooth running of the daily office activities.

Depot Manager:

Responsible for organizing the safe and efficient receipt, storage and dispatch of diesel and other fuel products
Responsible for liaising with customers, suppliers and transport companies
In charge of planning, coordinating and monitoring the receipt, order assembly and dispatch of diesel and other fuel products
Responsible for using space and mechanical handling equipment efficiently and making sure quality, budgetary targets and environmental objectives are met
In charge of coordinating the use of automated and computerized systems where necessary
Accountable for keeping stock control systems up to date and making sure inventories are accurate;
Accountable for producing regular reports and statistics on a daily, weekly and monthly basis
In charge of overseeing the maintenance of vehicles, machinery and equipment.
Ensures that proper records of diesel and other fuel products are kept and warehouse does not run out of products
Ensures that the warehouse facility is in tip top shape and diesel and other fuel products are properly arranged and easy to locate
Interfaces with third – party suppliers (vendors)
Controls diesel distribution and supply and supply inventory
Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
Identifies development opportunities; follows up on development leads and contact
Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
Documents all customer contact and information
Represents the company in strategic meetings
Helps to increase sales and growth for the company
Manages the organization website
Handles ecommerce aspect of the business
Responsible for installing and maintenance of computer software and hardware for the organization
Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
Manages the organization’s CCTV
Handles any other technological and IT related duties.

Accountant/Cashier:

Responsible for preparing financial reports, budgets, and financial statements for the organization
Provides managements with financial analyses, development budgets, and accounting reports
Responsible for financial forecasting and risks analysis.
Performs cash management, general ledger accounting, and financial reporting
Responsible for developing and managing financial systems and policies
Responsible for administering payrolls
Ensures compliance with taxation legislation
Handles all financial transactions for the organization
Serves as internal auditor for the organization

Client Service Executive

Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries

Distribution Truck Drivers

Assists in loading and unloading diesel and other fuel products
Maintains a logbook of their driving activities to ensure compliance with federal regulations governing the rest and work periods for operators.
Keeps a record of vehicle inspections and make sure the truck is equipped with safety equipment
Assists the transport and logistics manager in planning their route according to a distribution schedule.
Inspects vehicles for mechanical items and safety issues and perform preventative maintenance
Complies with truck driving rules and regulations (size, weight, route designations, parking, break periods etc.) as well as with company policies and procedures
Reports defects, accidents or violations

6. SWOT Analysis

Our intention of starting out in Waco and distribute our diesel and other fuel products only within Waco – Texas is to test run the business for a period of 3 to 5 years to know if we will invest more money, expand the business and then start our diesel distribution and supply all around the state of Texas.

We are quite aware that there are several diesel distribution and supply companies and contractors all over Waco and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be equipped to confront our threats.

Julius Padres® Diesel Distribution Company, Inc. employed the services of an expert HR and Business Analyst with bias in retailing and distribution to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives.

This is the summary of the SWOT analysis that was conducted for Julius Padres® Diesel Distribution Company, Inc.;

Our location, the business model we will be operating on (robust distribution network), reliable distribution tankers, varieties of payment options, wide range of diesel and other fuel products and our excellent customer service culture will definitely count as a strong strength for us.

So, also our management team are people who have what it takes to grow a business from startup to profitability within record time.

A major weakness that may count against us is the fact that we are a new diesel distribution and supply business and we don’t have the financial capacity to compete with leaders in the industry especially as it relates to economy of scales.

Opportunities:

The fact that we are going to be operating our diesel distribution and supply business in Waco – Texas provides us with unlimited opportunities to distribute our products to a large number of factories, retailers, households and businesses.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they patronize our products and services; we are well positioned to take on the opportunities that will come our way.

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a similar business in same location.

7. MARKET ANALYSIS

Market Trends

Distribution of goods has been in existence for as long as human started trading goods, but one thing is certain, the distribution industry is still evolving. The introduction of technology has indeed helped in reshaping the industry.

The trend in the fuel dealer industry shows that as oil and natural gas prices decrease, industry revenue is expected to decline, industry operators have tried to cut prices to discourage customers from switching to natural gas and customers will likely transition from propane to natural gas due to price differentials.

Please note that external factors such as world price of crude oil and world price of natural gas will always impact industry performance.

Lastly, it is now a common phenomenon for diesel distribution and supply companies to leverage on technology to effectively predict consumer demand patterns and to strategically position their business to meet their needs; in essence, the use of technology helps diesel distribution and supply businesses to maximize supply chain efficiencies.

8. Our Target Market

The diesel distribution and supply industry has a wide range of customers; a good number of households, hotels, and manufacturing companies make use of diesel and other fuel products and it is difficult to find people around who don’t.

In view of that, we have positioned our company to service businesses in Waco – Texas and every other location we will cover. We have conducted our market research and we have ideas of what our target market would be expecting from us. We are in business to retail (distribute) diesel and other fuel products to the following businesses;

Manufacturing companies
Power plants that run on diesel
Facility managers that make use of diesel

Our competitive advantage

Julius Padres® Diesel Distribution Company, Inc. is launching a standard diesel distribution and supply business that will indeed become the preferred choice in Waco – Texas. Our competitive advantage revolves around our ability to attract local support and patronage, easy compliance with government regulations and having a loyal customer base.

One thing is certain; we will ensure that we have diesel and other fuel products available in our warehouse at all times. One of our business goals is to make Julius Padres® Diesel Distribution Company, Inc. a one stop diesel distribution and supply company.

Our excellent customer service culture, timely and reliable delivery services, online presence, and various payment options will serve as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

9. SALES AND MARKETING STRATEGY

Sources of Income

Julius Padres® Diesel Distribution Company, Inc. will generate income by offering the following services and products.

10. Sales Forecast

One thing is certain when it comes to diesel distribution and supply business, if your business is centrally positioned coupled with effective and reliable distribution network, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in Waco – Texas and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow the business and our clientele base.

We have been able to examine the diesel distribution and supply industry, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for Julius Padres® Diesel Distribution Company, Inc., it is based on the location of our business, and other factors as it relates to diesel and other fuel products startups in the United States;

First Fiscal Year: $440,000
Second Fiscal Year: $750,000
Third Fiscal Year: $1.5 million

N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same products and distribution services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

Marketing Strategy and Sales Strategy

Before choosing a location to launch Julius Padres® Diesel Distribution Company, Inc., we conducted a thorough market survey and feasibility studies in order for us to be able to penetrate the available market and become the preferred choice in Waco – Texas.

We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time.

We hired experts who have good understanding of the retailing and distribution industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Waco – Texas.

In summary, Julius Padres® Diesel Distribution Company, Inc. will adopt the following sales and marketing approach to win customers over;

Introduce our business by sending introductory letters alongside our brochure to diesel and other fuel products retailers, factories, facility managers, hotels, households and key stake holders in and around Waco – Texas
Ensure that we have a diesel and other fuel products in our warehouse at all times.
Make use of attractive handbills to create awareness business
Position our signage / flexi banners at strategic places around Waco – Texas
Create a loyalty plan that will enable us reward our regular customers

11. Publicity and Advertising Strategy

Even though our diesel distribution and supply business is well structured and well located, we will still go ahead to intensify publicity for the business.

Julius Padres® Diesel Distribution Company, Inc. has a long-term plan of opening distribution channels all around the state of Texas which is why we will deliberately build our brand to be well accepted in Waco before venturing out. Here are the platforms we intend leveraging on to promote and advertise Julius Padres® Diesel Distribution Company, Inc.;

Place adverts on community based newspapers, radio and TV stations.
Encourage the use of word of mouth publicity from our loyal customers
Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Google+ and other platforms to promote our business.
Ensure that our we position our banners and billboards in strategic positions all around Waco – Texas
Distribute our fliers and handbills in target areas in and around our neighborhood
Advertise our diesel distribution and supply business in our official website and employ strategies that will help us pull traffic to the site
Brand all our official cars and distribution vans / trucks and ensure that all our staff members wear our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

Pricing is one of the key factors that gives leverage to distribution companies and retailers, it is normal for retailers to purchase products from distribution companies that offer cheaper prices. We will work towards ensuring that all our diesel and other fuel products are distributed at highly competitive prices compared to what is obtainable in the United States of America.

We also have plans in place to discount our diesel and other fuel products once in a while and also to reward our loyal customers from time to time.

Payment Options

The payment policy adopted by Julius Padres® Diesel Distribution Company, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Julius Padres® Diesel Distribution Company, Inc. will make available to her clients;

Payment via bank transfer
Payment via credit cards/Point of Sale Machines (POS Machines)
Payment via POS machines
Payment via online bank transfer
Payment via check
Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for diesel and other fuel products purchase without any stress on their part.

13. Startup Expenditure (Budget)

Having done our due diligence , this is what it would cost us to set up Julius Padres® Diesel Distribution Company, Inc. in the United of America;

The total fee for registering the business in the United States of America – $750.
Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
Marketing promotion expenses for the grand opening of Julius Padres® Diesel Distribution Company, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
The cost for hiring business consultant – $2,500.
The cost for insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
The cost for payment of rent for 12 months at $1.76 per square feet tank farm facility cum mini depot in the total amount of $75,500.
The total cost for depot facility remodeling (construction of mini depot / tank far) – $70,000.
Other start-up expenses including stationery ( $500 ) and phone and utility deposits ( $2,500 ).
Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $150,000
The cost for Start-up inventory (stocking with diesel and other fuel products and cylinders et al) – $200,000
Storage hardware (bins, rack, shelves) – $3,720
The cost for store equipment (cash register, security, ventilation, signage) – $13,750
The cost of purchase and installation of CCTVs – $5,000
The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
The cost for the purchase of distribution tankers / trucks – $75,000
The cost of launching a website – $600
Miscellaneous – $10,000

We would need an estimate of $1.5 million to successfully set up our diesel distribution and supply business in Waco – Texas.

Generating Startup Capital for Julius Padres® Diesel Distribution Company, Inc.

Julius Padres® Diesel Distribution Company, Inc. is a private business that is solely owned and financed by Julius Padres. He has decided to restrict the sourcing of the start up capital to 3 major sources.

Generate part of the startup capital from personal savings
Source for soft loans from family members and friends
Apply for loan from my bank

N.B: We have been able to generate about $500,000 ( Personal savings $450,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $1 million from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.

One of our major goals of starting Julius Padres® Diesel Distribution Company, Inc. is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to supply/distribute our diesel and other fuel products a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.

Julius Padres® Diesel Distribution Company, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

Business Name Availability Check : Completed
Business Registration: Completed
Opening of Corporate Bank Accounts: Completed
Securing Point of Sales (POS) Machines: Completed
Opening Mobile Money Accounts: Completed
Opening Online Payment Platforms: Completed
Application and Obtaining Tax Payer’s ID: In Progress
Application for business license and permit: Completed
Purchase of Insurance for the Business: Completed
Leasing of mini depot facility and construction of tank farm: In Progress
Conducting Feasibility Studies: Completed
Generating capital from family members: Completed
Applications for Loan from the bank: In Progress
Writing of Business Plan: Completed
Drafting of Employee’s Handbook: Completed
Drafting of Contract Documents and other relevant Legal Documents: In Progress
Design of The Company’s Logo: Completed
Printing of Promotional Materials: In Progress
Recruitment of employees: In Progress
Purchase of furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
Purchase of distribution tankers/trucks: Completed
Creating Official Website for the Company: In Progress
Creating Awareness for the business both online and around the community: In Progress
Health and Safety and Fire Safety Arrangement (License): Secured
Establishing business relationship with diesel and other fuel products well owners and production companies within and outside of the United States of America: In Progress

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BUSINESS CONTINUITY PLANS FOR OIL AND GAS COMPANIES: 6 COMMON BCP CHALLENGES

Jun 24, 2014

A well-developed Business Continuity Plan (BCP) can minimize escalating business disruptions, while safeguarding key business interests, relationships, and assets. Unfortunately, many companies do not acknowledge the value of a BCP and fail to prioritize sustainability. This many be especially true of highly regulated industries, such the oil and gas industry, that prioritize mandated compliance measures.

Below are common challenges in business continuity planning and possible countermeasures to offset these BCP hurdles.

Lack of Management Support

It is challenging to perform a cost-benefit analysis that measures the benefits of business continuity. There is a high degree of uncertainty associated with implementing BCP measures. Benefits resulting from BCP and mitigation efforts are dynamic in nature, and are not limited to a single structure, department, or operation.

The financial benefits from a BCP implementation must be viewed from the long-term perspective. A BCP can dramatically lessen the financial impact of future crises and promote operational sustainability and corporate viability. However, managers and corporate executives typically do not act based on “what if” scenarios unless regulations require implementation making it challenging to convince them to develop a BCP. Managerial actions are generally based on concrete financials that benefit departments, stockholders, and the bottom line.

Countermeasure: 2014 Global Risks Report by The World Economic Forum, makes a compelling case that may provoke and inspires leaders to implement continuity efforts.

Budget Restraints

Because companies are in the business of making a profit, business continuity planning budgets are often compromised for other priorities.

Countermeasure: It may be helpful to estimate the cost of implementation for each critical process in relation to the cost of a critical process breakdown. This exercise may highlight the need for a designated business continuity budget.

It may also be necessary to prioritize BCP implementation by each critical process with a step-by-step timeline for completion. Companies can identify and rank the most critical business processes, and implement BCP and mitigation measures based on those priorities. While most processes are intertwined, taking small steps to ensure process continuity is a step toward overall business continuity. Managers may be more likely to implement a BCP if it can be initiated over time.

Maintaining a Culture of Preparedness

Unless a company has experienced an eye-opening business continuity issue, the presence of a realistic, tangible threat may be the only protagonist to champion a culture of preparedness.

Countermeasure: Managers who emphasize, embrace, and enact safety and continuity measures, as part of standard operating procedures will create a work environment that reflects the guiding principles of preparedness. As preparedness measures and best practices are ingrained in operational processes, personnel will be more apt to embrace the culture.

Lack of Business Continuity Awareness + Training

When identifying company, operational, and process vulnerabilities, managers and employees frequently recognize the limits of their business continuity expertise. Oil and gas management and employees may have expertise in hazardous response planning measures and tactics, however their business continuity experience may be limited. The process of identifying business continuity mitigation opportunities, developing recovery processes, and training personnel in continuity roles and responsibilities often requires experience. Companies often disregard business continuity training and awareness as a result of ineptitude.

Countermeasure: If implementing continuity efforts are beyond the scope of managers, companies should consider hiring consultants who specialize in business continuity planning. External resources can address site-specific business continuity needs, detailed standard operating procedures for BCP activation, and personnel training. Training should convey procedural flexibility based on continuing assessment of disaster demands and provide options for each scenario. Companies can also assign a designated manager to become proficiently trained in business continuity in order to pass down preparedness guidelines and best practices.

Identifying Critical Processes

Many mid to large-sized companies often operate with separate, independent business units (or departments). Each critical business process within each unit must be identified and quantified in order to determine its role in the business continuity planning process. Most business unit processes are often intertwined with other critical functions, contributing to the overall profitability of a company. When critical business processes are not functional, a company’s ability to operate and reputation may be in jeopardy.

Countermeasures: Overall resilience capabilities should be prioritized to mitigate any interruption. Understanding response procedures, the interconnected structure of processes between units, and the intricacies of a “Plan B” can make the difference between corporate survival or failure. Crisis and disaster situations usually result in the loss or temporary disruption of one or more of the following necessary key business resources:

Infrastructure
IT Applications/Systems
Supply Chain

Un identified Threats + Vulnerabilities

Threats and vulnerabilities must be identified in order for potential impacts to be analyzed and countermeasures to be implemented. The continually evolving nature of potential threats and vulnerabilities poses a challenge in business continuity planning. Threats and vulnerabilities can stem from both external and internal actions. New technologies, best practices, and risk mitigation efforts can often minimize threats. However, as operations evolve and new concepts are introduced, additional threats and vulnerabilities can emerge.

Countermeasures: An annual risk and hazard analysis can identify potential undiscovered threats and vulnerabilities relating to business continuity. This analysis indicates the likeliness that specific threats that could occur, considering existing site-specific factors, capabilities, mitigation measures, and history. Companies should analyze potential continuity threats from typical weather patterns, geographical influences, security efforts, inherent operational hazards, as well as facility design and potential maintenance issues.

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Oil and Gas Financial Model Excel Template

Retail , Financial Excel Model , Financial Excel Template , Browse by Categories , Browse by Industry , Startup Financial Model , Retail Industry Financial Model , financial modeling , financial forecasting modeling , Financial model excel template , Mining , Oil and Gas , financial model

The Oil and Gas Financial Model Excel Template is easy for those who have just entered the market. The Oil and GasFinancial Model Excel template includes all revenue inputs like changes in oil and gas rates, fluctuation in the market, and adjusted Production Table, and contract-based revenue is included for the easiness. An excellent tool for forecasting and financial planning. Moreover, the oil and gas financial modeling template will enable you to check whether the company is profitable and under what circumstances the business might face losses.

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Introduction Hey there! Whether you’re a financial analyst in the gas industry or an entrepreneur entering this sector, understanding the Oil and Gas Excel Financial Model Projection Template can be a game-changer. It’s a financial planning tool designed specifically for energy companies, and it helps simplify financial statement analysis. Let’s delve into the details.

Understanding the Oil and Gas Excel Financial Model Projection Template This template is a financial planning model tailored for fossil fuel companies. It offers insights into financial projections based on current data, and it’s an indispensable tool for gas companies. The beauty of this template lies in its versatility, as it not only offers financial analysis but also a deep dive into forecasting future cash flow, ensuring a company’s financial feasibility in the forecast period.

The Oil and Gas Financial Model Excel template presents the business case of a business with an upfront investment in different sections of the company. The model contains the three financial statements, including the cash flows, and calculates the relevant metrics ( Sensitivity Analysis , Break-even Analysis, Diagnostic Tools, Project evaluation, and Charts). The financing options for the project include a standard long-term loan, an investment made by the investors, and, of course, a marketing sheet (including automated inbound and outbound marketing costs sheet), which also contains how many customers will achieve as a result.

On the Input tab of the Oil and Gas Financial Model Excel template , you can feed the financial information for the model. Such as sales price, cost, expenses, etc. The peach fill column shows the inputs in the model and call-up (direct links from other cells) filled in grey with black letters, while calculations depict white fill and black characters.

Key Inputs of Oil and Gas Financial Model Excel Template

The growth rate, Price, and Expense.
Various Bouquets with prices and segmentation of revenue.
Marketing Budget Sheet (which measures how many customers we get from marketing).
Revenue Assumptions
Average Payable and Receivable days your business is following.
Cost of Goods.
Fixed Asset and Capital Expenditure.
Investment table

Key Components

Input sheet .

Oil and Gas Financial Model Template-input

This financial model template of the Oil & Gas Financial Excel Model contains inputs that, when changed, impact the calculations. The changes are applied to all relevant sheets. As a result, this financial model always has built-in flexibility to display different outcomes or final estimates based on this sheet’s changes.

Start-up Summary

Oil and Gas Financial Model Template-startup

A start-up summary tab includes the total cost incurred at the start of business and capital expenditure, how much cash has been injected by the company so far, and based on the number of months, the amount of investment required is calculated.

A Start-up Summary helps you take a realistic view of your idea and double-check whether the business has enough funds to support operations.

Monthly & Yearly Income Statement

Oil and Gas Financial Model Template-income statement

The Oil and Gas Financial Model Excel Template provides the monthly and yearly income statement structure and a framework for creating a full corporate forecasting model tailored to your business.

A vital feature of the Oil and Gas Financial Model Excel Template is its “integration,” which means that the Income Statement is modeled accurately to capture the connection and interlinkages of the various line business items. An integrated financial model is powerful since it enables the user to change any assumption to see how it impacts all other parts of the statements accurately and consistently.

The monthly Income Statement sheet is perfect for those who require regular reporting and details. Additionally, Income Statement contains all revenue streamlines with gross and net earnings linked with a revenue analysis sheet to ensure accurate reporting. Oak Business Consultants understands every Oil and Gas business’s goal . Therefore, we have developed a mechanism that helps business owners determine whether they are making profits.

Furthermore, the Yearly Income Statement gives you complete insights into revenue and general & administrative expenses. The Yearly Income Statement also contains several graphs, assumptions, ratios, cost of services, and profit after tax.

I nventory Module

Oil and Gas Financial Model Template-inventory table

The inventory module helps companies identify which and how much stock to order at what time. It tracks inventory from purchase to the sale of goods. The practice identifies and responds to trends to ensure enough supply to fulfill customer orders.

Balance Sheet of Oil and Gas Financial Model Template

Oil and Gas Financial Model Template-balance sheet

This Oil and Gas Financial Model Excel Template balance sheet enables you to analyze your position of current assets, fixed assets, liabilities , and equity. This also allows you to monitor your accounts receivable, accounts payable, accrued expenses, etc. Therefore, this specific financial model gives you the perfect space to analyze your critical financial balance accounts.

Oil and Gas Financial Model Template-cashflow

The Cash Flow Statement is the vital part of the three statements that report the cash spent and generated during a specific period. The Cash Flow Statements act as a bridge between the income statement and the balance sheet by how money has moved in and out.

Three main sections of the Cash flow Statement:

Operating Activities : We have included all cash in and out related to the operations of the business
Investing Activities : Any cash from the disposal and acquisition of an asset has included in this section. This calculation is linked from the fixed asset and input tab.
Financing Activities : We have separately made a loan-related tab where you can enter all loan-related information. The account is linked to the Financing Activities of Cashflow Statement .

The Cashflow Statement in our Model contains a dedicated sheet to monitor and analyze your company cash-ins and out. This cash flow statement is based on several key inputs. Such as Payable and Receivable Days, yearly income, working capital, long-term debt, net cash, etc. Moreover, this calculation computes your net cash flow and beginning and end cash balances. This is a perfect template for your company’s cash flow management.

Break-Even Analysis of Oil and Gas Financial Model Template

Oil and Gas Financial Model Template-breakeven

A break-even analysis of the Oil and Gas Financial Model Excel template can help you measure how different scenarios might play out financially. For example, if you increase the marketing budget or add another employee to the payroll, how many extra sales will be needed to recover that additional expense?

We have included a Break-even analysis in our Oil and Gas Financial Model Excel Template, which will help the user to determine sales. The break-even analysis will help you know, at a glance, the profits generated at the various sales levels. In addition, the Break-Even Analysis is where your total sales contribution refers to fixed cost at zero profit and loss. This Technique is primarily based on marginal costing, which behaves differently at various levels of output activity.

Project Evaluation of Oil and Gas Financial Model Excel Template

Oil and Gas Financial Model Template-project evaluation

Since the table calculates Return on Investment, Investor’s Future Equity Share, and Cash Burn Rate Analysis, analyzing the company’s performance becomes easy to capture potential investors.

Oil and Gas Financial Model Template-dashboard

Although, Users and readers respond and process visual graphs better than data. Because this dashboard provides you with a graphical management tool that enables you to track all your relevant financial KPIs , improve cash flow management, and track expenses, sales, and net revenue in detail to meet and outperform the financial objectives of your business.

Frequently Asked Questions

1. what is the primary purpose of the oil and gas excel financial model projection template.

The primary purpose of the Oil and Gas Excel Financial Model Projection Template is to aid gas companies in financial planning, offering a detailed overview of their financial statements. This financial model template streamlines financial projections for the forecast period, assessing the future cash flow while considering average prices, variable costs, and capital expenditures inherent in the gas industry.

2. How often should I update or adjust the data in this financial model?

For optimal financial statement analysis and accurate Financial Analysis, it’s recommended that gas companies update or adjust data in this financial model at least quarterly. However, in rapidly fluctuating market conditions or significant changes in average prices, more frequent updates can help ensure precise cash flows projections.

3. Are the templates adaptable to different regions and their specific market conditions?

Yes, the templates are designed with flexibility for the gas industry worldwide. They accommodate different regions’ market conditions, allowing energy companies to adjust for regional average prices, regulatory environments, and other regional specifics in their financial planning models.

4. Can I incorporate historical financial data into the model, and how does this enhance the projections?

Absolutely. Incorporating historical financial data enhances financial projections by providing a foundation for trend analysis. This allows for more accurate forecasting of cash flows and provides a deeper layer of financial statement analysis, ensuring a clearer picture of financial feasibility for energy companies.

5. How do the templates account for unpredictable events or drastic market changes in the gas industry?

The templates incorporate sensitivity analysis, a pivotal feature in Financial Modeling, which analyzes how various factors can impact financial projections. For the gas industry, this could involve drastic changes in oil prices or unforeseen market events, ensuring gas companies are prepared for various scenarios.

6. What measures are in place within the template to ensure accuracy in financial projections?

The template uses a robust combination of financial planning tools, such as Break-even analysis, sensitivity analysis, and meticulous financial statement analysis. By focusing on accurate data inputs, particularly for balance sheet items and cash flows, the model ensures precision in future cash flow projections.

7. How does the model handle fluctuating oil and gas prices in its revenue analysis?

Fluctuating oil and gas prices are addressed using sensitivity analysis within the model. By examining different average prices scenarios and their implications on revenue, the model provides energy companies with a range of financial outcomes, aiding in informed decision-making.

8. Is the startup summary suitable for both new enterprises and existing gas companies looking to venture into new projects?

Certainly! The startup summary is designed to capture initial capital expenditures and other financial planning aspects, making it ideal for new enterprises. However, it’s also tailored to assist existing gas companies venturing into new projects, ensuring clarity in their financial planning.

9. How does the Break Even Analysis factor in the variable costs unique to the oil and gas sector?

The Break-even analysis in the model meticulously factors in variable costs associated with the gas industry. This includes costs related to drilling, transportation, and other sector-specific expenses, providing a clear picture of the financial feasibility of operations at different production and price levels.

10. Can the template be integrated with other financial planning tools or software commonly used in the gas industry?

Yes, the financial model template is designed with adaptability in mind. It can seamlessly integrate with various financial planning tools and software frequently used by fossil fuel companies, enhancing its functionality and applicability.

11. How does sensitivity analysis in the model cater to regulatory changes that might affect the gas industry?

The model’s sensitivity analysis delves into various scenarios, including potential regulatory changes. This feature aids gas companies in understanding how such changes might influence their cash flows, balance sheet, and overall financial projections.

12. Are there specific balance sheet items that this model emphasizes due to the nature of the gas industry?

Indeed, the model lays special emphasis on balance sheet items vital to the gas industry, like assets associated with drilling operations, capital expenditures for infrastructure, and liabilities connected to environmental responsibilities, ensuring a comprehensive financial statement analysis.

13. How does the Oil and Gas Excel Financial Model accommodate for long-term capital expenditures?

The model intricately maps out long-term capital expenditures, accounting for investments in exploration, drilling, infrastructure, and more. By considering the payback period and potential returns, it aids gas companies in long-term financial planning.

14. Is there a section within the model to factor in environmental considerations and potential costs for energy companies?

Yes, the model has provisions for environmental considerations, reflecting potential costs and liabilities that energy companies might face. This ensures a holistic financial planning approach, accounting for both fiscal and environmental responsibilities.

15. How user-friendly is the dashboard for individuals who may not have extensive experience in financial modeling?

The dashboard is intuitively designed, ensuring ease of use even for those new to financial modeling. With clear sections, visual representations, and guided workflows, it aims to simplify the financial analysis process for all users in the gas industry.

More About Financial Modelling

Contact our expert if you are confused about buying our template. The experts can provide you with a 15 min DEMO of the financial model, including the following.

How to use the model
What are the Key Inputs
Will this work with your business model

Need Changes

You can pay a few extra dollars to include your desired changes in the financial model template. Book a meeting with our consultant today.

Consultation

If you are unsure about the numbers, you can hire us as your consultants. Furthermore, we have a pool of Financial Experts who could advise numbers like growth rate, first-year operational expenses, employee headcount, etc.

This Product Includes: 1 Excel File

We also provide a Gas Station Business Plan that will provide you with a complete business overview.

Walk-through Video Oil and Gas Financial Model Excel Template

The following video will give you an overview of the financial model’s different components and help you understand how it works.

3 reviews for Oil and Gas Financial Model Excel Template

Scully – April 8, 2022

The Oil and Gas Financial Model Excel template is a fantastic tool for financial modeling. Its Input and Projection Valuation tabs are easy to use and the Sensitivity Analysis and Dashboard tabs provide valuable insights into various business scenarios. I highly recommend this template to anyone in the oil and gas industry looking for a comprehensive financial modeling tool.

Emily Dugray – December 6, 2022

Using this model, we were able to get our finances in order, forecast each quarter, and make feasible business decisions. Highly satisfied.

Kate Brown – March 28, 2023

I recently used the Oil and Gas Financial Model Excel template for my business and I must say, I am thoroughly impressed with its capabilities. The model is very comprehensive and contains all the necessary financial statements and metrics needed for an oil and gas business case.

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This case study focuses on the financial trend and highlights the impact of the global crisis and how oil and gas companies managed to deal with it. Furthermore, it also focuses on the product portfolio and the efficiency of oil and gas companies operations by evaluating Asset management and other relevant financial ratios. For more information, click Oil and Gas Financial Analysis Report – A Case Study here.

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Evolving energy demand and pricing outlooks are transforming the oil and gas industry. But few companies are fully harnessing the power of digitalization. The sector requires new business models, rationalized portfolios, accelerated investment in digital technologies and greater capital flexibility.

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Nessel plans to sue oil and gas companies over Michigan's changing climate

Lansing — Michigan Attorney General Dana Nessel announced Thursday her intention to sue the fossil fuel industry for its role in changing Michigan's climate and threatening the state's environment, infrastructure, health and economy.

The oil and gas industry profited while knowingly selling products that cause climate change, Nessel’s office said in a document disclosing the coming lawsuits. The industry also deceived the public about climate change, Nessel alleged, leaving the state with the expenses of adapting to and recovering from the effects of warming.

"I don't know that there's a bigger issue facing the state of Michigan than climate change," Nessel said in an interview with The Detroit News. "We are talking about billions and billions of dollars in damages and we're already starting to see that on a day to day basis. We know this is only going to get worse."

With the suit, Michigan will join states such as Minnesota, New Jersey, Connecticut, Vermont, Rhode Island that have filed climate fraud lawsuits against oil and gas companies, alleging petroleum products played a central role in contributing to the climate crisis.

Those states largely have targeted the big players in oil and gas, such as BP, ExxonMobil and Shell, though Nessel said Michigan's suit likely will target the same players, but said her office wouldn't rule out including utilities or other related industries that emit climate-changing pollution.

Phil Goldberg, special counsel for the Manufacturers' Accountability Project at the National Association of Manufacturers, contended Nessel's plan has no legal merit. The trade organization, which represents fossil fuel giants Shell, ConocoPhillips and ExxonMobil, has fought back against other states' climate lawsuits, contending climate issues should be addressed by lawmakers instead of courts.

NAM's members include General Motors Co., American Axle & Manufacturing, Livonia-based construction supplies maker Masco Corp. and Midland-based chemical giant Dow Inc., among other manufacturers with operations in Michigan.

"We share AG Nessel's desire to address the challenge of climate change, but this litigation is not the type of action that is going to lead to meaningful solutions," Goldberg said.

Instead, Goldberg said climate change should be handled through developing sustainable energy technologies and public policies that support them.

A representative from the Michigan Oil and Gas Association could not immediately be reached for comment.

Nessel's office is working with other state departments to assess the costs associated with climate change, such as the cost of expanding storm water systems to handle flooding caused by stronger storms, responding to natural disasters or supporting northern Michigan tourism economies dealing with dwindling ice and snow.

"This is going to be a massive discovery effort to find out exactly what our Michigan damages are now already and what can we expect to see in the future as a result of climate change," she said.

Nessel likened the climate change suits to similar legal pursuits against PFAS manufacturers, tobacco companies and opioid manufacturers.

"Big oil caused these problems and they ought to pay the expenses related to these damages," Nessel told The News.

The Attorney General's office is seeking outside help from attorneys at private law firms with experience and interest in pursuing similar claims against the fossil fuel industry. The deadline for applications is June 5.

Nessel took a similar tact in suing drugmakers for the opioid crisis, farming out much of the work to outside law firms in Michigan, Texas and Florida .

Under Nessel's plan to sue the fossil fuel industry, the private lawyers would serve as special assistant attorneys general.

In her request for a special assistant attorney general, Nessel's office laid out some of the ways climate change impacts Michigan, such as fueling harmful algal blooms, welcoming invasive and disease-bearing pests, warmer temperatures, volatile weather, drought and more. Those issues cost Michigan money as the state responds to severe weather events, damages to state-owned properties and infrastructure and increased public health costs.

“The fossil fuel industry was aware of the negative impacts of extraction and use of fossil fuels, but continued to knowingly engage in business practices and conduct that harmed the public’s health, safety, and welfare and the environment,” the Attorney General’s office wrote in its request for a special assistant attorney general. “The fossil fuel industry also hid information and deceived the public and consumers, both in and outside of Michigan, about the role of their products in causing the global climate crisis.”

More: Tepid winter brought record-low seasonal ice coverage to Great Lakes

Average temperatures in the Great Lakes region have increased by 2.3 degrees since 1951, and are expected to increase another 3-6 degrees by 2050 and 6-11 degrees by 2100, according to GLISA, a collaboration between the University of Michigan, Michigan State University and National Oceanic and Atmospheric Administration. Winter warming is more pronounced.

Warmer temperatures cause stronger storms, put pressure on plants and animals that are suited for cooler environments, fuel harmful algal blooms and otherwise impact the Great Lakes.

The Center for Climate Integrity, a nonprofit that supports communities that launch legal claims against fossil fuel companies, has tracked dozens of similar lawsuits against the industry by states, tribal governments, communities and foundations. Some lawsuits, like the one filed last year by Multnomah County, Oregon, are pursuing damages based on events such as deadly heat waves, rising sea levels and increasing storms.

"Big Oil knew decades ago that their products would cause catastrophic climate change, but instead of doing the right thing they lied about it," said Richard Wiles, Center for Climate Integrity president. "The people of Michigan deserve their day in court to make these companies pay for the massive harm they knowingly caused."

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And when done right, like with cutting-edge refining units, it is possible to slash methane emissions that are a leading cause of global warming.

Where to Start

There is no shortage of opportunities to coax more oil and gas out of a well. Across the U.S, there are an estimated 2-3 million abandoned oil and gas wells. Over 117,000 of these, scattered across 27 states, are "orphaned," meaning they're uncapped, unproductive, and have no identifiable owner to manage leakage or pollution risks.

According to Global Oil & Gas Recovery Corp. , some wells are, amazingly, left with as much as 80% of the resource left in the ground. Usually, a well is abandoned when it is determined that the cost of extraction exceeds the price of the sale. So, when oil prices drop, so do operating well counts.

In 2019, the U.S. became a net exporter of energy for the first time in half a century. However, the U.S. remains one of the largest importers of crude oil in the world, which has proponents of energy independence arguing for more domestic production to meet global demand. The problem is that oil production is declining in the U.S., not increasing.

As shown by the EIA , the number of producing wells in the U.S. reached a high of 1,031,256 wells in 2014, then dropped to 919,246 wells in 2021 and then 912,962 in 2022. There are another 100,000 opportunities.

Making Money, Fixing Problems

On April 22, a quiet and mostly overlooked company, Metawells Oil & Gas Inc. (OTCPK: KOSK) , a holding company in search of collaborations, released an important piece of news. The company said it inked a letter of intent to merge with Global Oil & Gas Recovery Corp. (GLOBAL), a takeover that will make GLOBAL a public entity.

The principals and the management team has been involved in the Capital Markets, Petroleum and Natural Gas extraction industry for over 25 years.

GLOBAL will capture and enhance the oil and gas reserves that were previously discovered but not fully extracted, alleviating production declines, through the deployment of enhanced secondary oil and methane gas recovery (EOMR) methods in the U.S. and Canada.

Further – and this is huge hidden value add – GLOBAL employs new technology that limits the environmental impact from methane release like the Mobile Refining Unit (MRU) developed and patented by PEnG.

Secondary Recovery is Primary Money Maker

Founded in 2023, GLOBAL is focused on deploying its EOMR technology in abandon oil and gas wells located in the oil-rich regions of Kansas, Colorado, Oklahoma, Missouri, New Mexico, Texas, Arkansas, and Louisiana. Its technology can enhance and increase production at a fraction of the cost of fully developed fields providing excellent return on investment.

There are three distinct phases of recovery standard to oil and gas production in North America. Primary extraction uses the natural pressure of the reservoir to bring resources to surface. Tertiary is where gas (usually carbon dioxide) or heat (steam or hot water) is used to stimulate oil and gas flow. Secondary implements other mechanisms, including gas re-injection and water flooding to further produce the remaining oil and gas after primary and tertiary techniques are no longer economically viable.

The is where GLOBAL has expertise.

Helping Climate Change; Cha-PEnG!

PEnG has developed the Mobile Refining Unit (MRU), a new green technology that captures leaking methane gas and converts it into usable fuel. This technology addresses the leaking abandon wells, sometimes called "zombie wells," that are a major problem around the world. This technology is currently in development and could be ready for production in 2024.

PEnG has consulted dozens of start-ups and multinational corporations, including Total, Arkema, ExxonMobil (NYSE: XOM) , Johnson-Matthey (OTC: JMPLY) (LSE: JMAT), Velan (TSX: VLN) , Lavergne Group, Haldor-Topsoe, and more. PEnG's founder has worked for DuPont (NYSE: DD) in the United States, Spain, and Switzerland. In the U.S., he managed a laboratory to qualify 200,000 kilograms of catalyst for the commercial plant design, operations and technology marketing development. In short, he is highly experienced and successful in the gas-to-liquids process and has all the elements undergirding catalysis manufacturing, reactor design, operations, and scalability.

In 2023, PEnG and GLOBAL teamed up to address the flaring and abandoned oil and gas wells available in the U.S. and Canada.

Our Methane Problem

Methane is a powerful greenhouse gas responsible for around 30% of the rise in global temperatures since the Industrial Revolution; it is the second largest contributor to global warming after CO2. More than half of global emissions stem from human activities in three sectors: agriculture, waste and fossil fuels.

In the oil and gas industry, flaring occurs when excess methane gas is burned off at well sites rather than captured and used. Oil and gas companies flare more than $10.6 billion in natural resources every year. This practice, though sometimes necessary for safety reasons, wastes a valuable resource and contributes to climate change, arguably even more so than CO2 because it breaks down in the atmosphere faster.

GLOBAL and PEnG have an award-winning solution to help curb the pollution of methane that tends to leak into the atmosphere undetected from drill sites, gas pipelines and other oil and gas equipment. Last year, the group relocated the MRU pilot plant out of the lab and on to a trailer for oil field upgrades.

It is believed that the MRU can overcome all obstacles oil and gas companies face with CAPEX and OPEX that has held back this type of much-needed technology from becoming mainstream. Amongst other things, the MRU technology applies a catalytic partial oxidation step in a milli-second reactor that costs a fraction of steam methane reforming technology today.

The Revenue Estimates

Management estimates that it can produce the MRU for approximately $300,000 and sell it for $500,000 - $1 million, which should, conservatively, earn the oil and gas company customer a ROI of just 12-18 months and profits going beyond that (not to mention greener operations). The company estimates selling 60 units per year initially while expanding a constructing a factory capable of producing one unit per day.

The strategy also includes renting and partnering to get the MRUs integrated into operations. According to GLOBAL , "Rather than selling units, some junior oil companies have offered to share the production" if they can show production capabilities for shut-in wells.

If the unit can bring a marginal well back online and produce just 5 barrels per day of oil and 100 MCF (thousand cubic feet per day) of natural gas, the total revenues would be close to $500,000 per year. The orphan inventory Alberta stood at 8,000 wells several years ago. Assuming that 1,000 have this minimal capacity, total revenues would be $50 million annually to be split.

As far as renting, there is a compelling scenario in Canada where oil rigs are allowed to flare gas for 72 hours during well completion to evaluate the oil/gas in-place. Sometimes this is not enough time. Since the MRU is mobile, GLOBAL can bring the unit to the well head and convert the natural gas to diesel, which give reservoir engineers more data to estimate the productivity. There are about 750 oil rigs operating in Alberta alone. Assuming 200 rigs rent the MRU for 100 days per year, revenues work out to $3,000 a day, or $30 million per year.

Sometimes a short press release seems very unassuming, but in the case of Metawells and GLOBAL a closer look reveals a whole lot more.

About AllPennyStocks.com:

AllPennyStocks.com Media, Inc., founded in 1999, is one of North America's largest and most comprehensive small-cap / penny stock financial portals. With Canadian and U.S. focused penny stock features and content, the site offers information for novice investors to expert traders. Outside of the countless free content available to visitors, AllPennyStocks.com Pro (premium service) caters to traders looking for that trading edge by offering monthly stock picks, daily penny stock to watch trade ideas, market commentary and more.

As a result of its commitment to journalistic excellence and abundance of information in a particular area of equity investing (micro-cap investing) where there aren't many credible sources of information, AllPennyStocks.com continues to have one of the largest audiences of micro cap investors on the internet.

AllPennyStocks.com has been compensated fifty-seven thousand dollars by a third-party for its efforts in presenting the KOSK profile on its web site and distributing it to its database of subscribers as well as other services

View the original article on AllPennyStocks.com

Norway adds more acreage for Arctic oil, gas exploration

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How Norway’s oil and gas tax fuelled an EV boom

Despite being a major oil and gas producer, Norway is known as one of the cleanest nations thanks to a huge appetite for electric vehicles (EVs). How has the country used fossil fuel money to drive an EV revolution?

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If you wander around the Norwegian capital of Oslo, you will find an abundance of electric vehicles (EVs) on its roads. In recent years, Norway has become the EV capital of the globe, with reports suggesting that the number of EVs on the road could overtake the number of petrol cars in Norway as soon as the end of this year.

The reason for the popularity of EVs in Norway isn’t hard to understand; the country offers subsidies and incentives for EV owners. EVs are exempt from paying registration fees, EV owners can get deductions on their income tax, many places offer free parking for EVs, drivers are exempt from city tolls, and there is an abundance of free chargers across every town and city in Norway – 2,000 of them in Oslo alone.

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Arguably the biggest factor comes in the form of sales tax exemptions. EV manufacturers don’t have to pay sales tax, making it far cheaper to buy a new EV in Norway. These incentives clearly work: of the 126,953 new cars sold in the country in 2023, 82% were EVs, compared with 7.6% in the US.

Funding the green transition through fossil fuel taxes

Norway’s approach to funding these green incentives is interesting: much of the funding comes from Norway’s Sovereign Wealth Fund, an almost $1trn (Nkr10.83trn) pot comprised almost entirely of oil and gas money.

While Norway is the largest hydrocarbon producer in Europe, producing 1.98 million barrels per day (mbbl/d) of crude oil in 2023, it very much takes an attitude of “don’t get high on your own supply”, with 99% of the country’s electricity use powered by hydroelectricity. The country imposes heavy taxes on fossil fuel production in its waters, and much of this has been used to fund the EV incentives.

Here, we take a look at this interesting paradox: that fossil fuel money could be the solution to boosting EV adoption around the world.

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The heavy taxes Norway applies to oil and gas producers are a major income stream. According to Norsk Petroleum , total estimated tax payments from petroleum activities hit a whopping Nkr597bn in 2023. Production of petroleum resources is subject to a combined marginal tax rate of 78%, and the taxes paid have skyrocketed in recent years.

Could this be applied elsewhere?

There have been many calls to apply similarly heavy taxes to oil and gas producers in other countries, especially as Russia’s invasion of Ukraine has driven prices up over the past two years.

Other nations have considered the idea of applying windfall taxes to oil and gas producers, including the UK, which has offshore oil and gas assets in its own North Sea claim. A 2022 report by environmental think tank Green Alliance suggested that by bringing windfall taxes on oil and gas companies up to match Norway’s rate of tax, an additional £6.6bn ($8.2bn) could be brought into the UK.

Speaking to The Guardian in 2022, Heather Plumpton, policy analyst at Green Alliance, said: “Why should oil and gas companies pay less to drill in British waters than they do across the North Sea in Norway? This is a question of whether the government considers the profit margins of fossil fuel companies more important than balancing the books.

“When there is a black hole in the public finances and people are struggling with the cost of living, it is not right that the fossil fuel industry isn’t paying a fair rate of tax.”

The UK Government uses a theoretical £6bn cash injection in much the same way Norway has, and funds incentives and infrastructure for EV drivers. It is on the priority list: in March 2024, the UK Department for Transport announced that an additional 44 local councils would be aided by a £381m scheme to roll out more widespread EV charging points. Clearly, the government could do a huge amount with billions more in funds.

Increasing charging point availability is arguably the most impactful thing governments and policymakers could do to boost the uptake of EVs.

Edmund King, president of the AA, a UK-based insurance company, noted that : “AA surveys show that one of the main reasons why many drivers are hesitant towards switching to EVs is the perception that there are not enough charging points.” He added: “To give confidence to drivers now and for the future, we need to overcome these barriers, which will help unlock cleaner, greener motoring for all.”

Norway’s approach to incentivizing EV adoption through subsidies funded by oil and gas taxes offers a compelling blueprint for other nations hoping to speed up the transition away from fossil-powered cars. By using taxes from the fossil fuel industry to promote EV usage, Norway demonstrates that, sometimes, positive environmental charge can come from traditionally ‘dirty’ industries – and that the road to decarbonisation is often more nuanced than it may initially seem.

As the world grapples with the urgent need to reduce carbon emissions, Norway stands as an example of how innovative policies can drive positive environmental outcomes while boosting the economy.

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$2.2bn Africa cooking stove plan includes funds from oil and gas groups

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The International Energy Agency has marshalled $2.2bn from governments and companies, including oil and gas groups, to fund better cooking methods across Africa in the “largest ever pledge” to tackle health issues from the use of the dirtiest fuels.

Public sector funds including from Norway, the Netherlands and the US committed about 30 per cent of concessional funding, as 55 countries gathered at a summit on clean cooking organised by the IEA on Tuesday in Paris.

Big oil and gas companies including TotalEnergies and Shell, the UK listed company, as well as a fund backed by the Shell Foundation, will also participate. Total had committed to provide infrastructure, such as building liquid petroleum gas storage, the IEA said, as had Oryx Energies, backed by the Swiss-based private investment group AOG.

At least 15 per cent or more of the funding is linked to carbon credits , which have proved controversial for the inability to account adequately for CO₂ savings. Italy’s Eni and the Swiss-based trading house Vitol are taking part using carbon credits.

An estimated 950mn people in Africa, who could not afford gas or electricity, burnt charcoal or firewood often in enclosed spaces for cooking, subjecting them to the effects of smoke inhalation, according to the UN. The lack of clean cooking facilities contributed to 3.7mn premature deaths globally each year, mostly of women and children, according to the IEA.

The IEA estimates a $4bn annual investment is needed for households in Africa to have access to clean cooking methods by 2030, or a fraction of the $2.8tn invested in energy globally in 2023.

Fatih Birol, executive director of the IEA, said the agency’s work on clean cooking was “one of the most important projects” it was involved in. “It’s not only an energy issue: it’s a gender issue, a health issue and a climate issue.

“Unlike some other challenges we have in the energy and climate domains, this doesn’t require any new technology. This doesn’t require a huge amount of budget. This requires a bit of attention and a bit of international support [to] create plans and strategies in the African countries,” he said.

But some African climate campaigners were critical of the project, noting that methane gas was neither clean nor necessarily affordable, and would lock it into a fossil fuel system rather than delivering renewable energy.

The use of carbon credits as part of the funding for cooking stoves is also overshadowed by academic findings that many credits certified by leading carbon registries do not avoid nearly as many emissions as they claim , because of over-optimism about how often cleaner cooking stoves are used and the emissions saved by each one.

Carbon credits linked to cooking stoves make up about a fifth of issuances and have been bought by companies including airlines and energy companies to cancel out their own greenhouse gas emissions.

“If the idea is to attract private sector finance by allowing these credits to be used as offsets [to cancel out corporate emissions] it could lead to more false claims and greenwashing,” said Gilles Dufrasne, a policy lead at the non-profit Carbon Market Watch.

Birol said many of the questions about the “quality and integrity” of cooking stove carbon credit schemes were “well justified”. But he argued the IEA had “identified several main gaps in the markets” and would build a task force to examine the issues.

He also defended the inclusion of oil and gas companies as backers of the initiative, just months after a global agreement to transition away from fossil fuels at the UN COP28 climate summit.

Birol argued that if each of the four in five families in Africa using primitive cooking stoves switched to gas, the emissions would still be less than those from the cutting down of trees.

James Mwangi, a non-executive director at Koko Networks, a distributor of ethanol in African cities as an alternative to wood-based cooking fuel and involved in the IEA project, said deforestation was the biggest source of Africa’s carbon emissions. Not all clean cooking-stove projects worked well, Mwangi conceded, with many stoves distributed but hardly used because people were used to cooking with firewood or could not afford alternative fuels.

Last week, the FT accompanied four women in Narok county, Kenya, as they walked a round trip of four miles into the forest to collect firewood and charcoal in a journey that involved steep climbs and crossing two rivers across precarious makeshift bridges.

“We come every day,” said Veronica Ngusilo, a woman from the Ogiek community, as she made the trip with a bag of charcoal on her back and three branches in her arms. She said collecting firewood was easier and cheaper than buying alternatives in town.

Despite the pledges, Birol said that having financial resources available did not mean the “problem will be solved”. The IEA and two dozen Africa countries were working on a road map to ensure they “make use of this money in the right way”.

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Money blog: How to sell your home without an estate agent - and save thousands

How easy is it to sell your home without an estate agent - and how much could it save you? We spoke to industry experts to find out. Read this and our other Weekend Money content below, and let us know your thoughts. We'll be back with live updates on Monday.

Saturday 18 May 2024 09:05, UK

Weekend Money

How to sell your home without an estate agent
Tourist taxes to watch out for in popular holiday destinations
Childcare vouchers, hard work and new skyscrapers: What readers have said this week
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By Ollie Cooper , Money team

Estate agent fees are one of the big expenses in selling a house - but rule changes and the rise of private sale websites have made it more common for people to go it alone.

But how easy is it - and what do you need to know? We spoke to industry experts to find out.

Firstly, what do estate agents do for their money?

An estate agent will typically charge in the range of 1%-3.5% of the sale price.

That means for the average house price (£284,691 from December) you could pay anywhere from £2,846 to £9,964 in commission fees.

"When you use an estate agent, their fee includes taking professional photographs, advertising your home, conducting property viewings, and negotiating a price on your behalf," says Jack Smithson from the home ownership site Better.co.uk .

In addition, an estate agent will compile comprehensive details of your house, including room sizes and descriptions of fixtures and fittings.

"They will also provide a concise write-up about the local area, highlighting amenities, schools, and transportation links," Jack adds.

And they'll conduct checks on buyers for you (more on this later).

It sounds like a lot, but...

"Selling your home yourself can be a manageable process with a few key steps," Jack says.

Preparation

You should begin by thoroughly researching house prices in your area, using websites like Rightmove and Zoopla - but seek free valuations from local estate agents to ensure you have a realistic asking price in mind.

Next, you want to take high-quality photos of your house.

Jack advises using tutorials on YouTube to learn new shooting and editing techniques that can take you to the next level.

You then want to write down what makes your home unique.

"While browsing other listings for inspiration, take it a step further by emphasising what you love about living in your home and the surrounding area," Jack suggests.

"Whether it's the refreshing scent of the coastline or the tranquil sounds of village life, incorporating these details can help potential buyers visualise living there," he advises.

Like using YouTube for photography tips, you can use free tools such as ChatGPT and Grammarly if you need help with your writing, Jack says.

Advertising

This is probably the biggest perk of going through an established estate agent - your home is much more likely to be viewed because they will have an established audience and a market. But it's very possible to do it alone.

"When it comes to advertising your home, explore a variety of avenues including local newspapers and social media," Jack says.

"Consider using websites like Strike, which allow individuals to list their properties for free on platforms like Rightmove," he suggests.

Viewings

Once you've secured some viewings, you've got the opportunity to make it a bit more personal than estate agents ever could - a real advantage.

"Explain the reasons behind your decision to purchase the property, highlight its unique features, and share the aspects of your neighbourhood that make it a desirable place to live," Jack says.

The small things matter when showing people round - so try to take an objective look around before you bring anyone in.

Do the things you'd do normally - make sure it smells nice and it's clean and tidy.

"Lastly, it's worth knowing that you must legally provide potential buyers with a free Energy Performance Certificate (EPC)."

The sale itself

Perhaps the most daunting aspect is the physical exchange of contracts and money.

An estate agent would typically oversee the process of the initial offer acceptance to the transfer of keys to the new owner.

However, if you go it alone, you'll need to become the central point of contact - bridging the gap between your solicitor or conveyancer and the buyer and their legal representative.

"Once you've accepted an offer on your property, your first task is to draft what's called a memorandum of sale," Jack says.

This document is a written confirmation of your acceptance of the offer and details the agreed price along with any specific conditions you've both agreed to.

"It's then recommended to engage the services of a solicitor or conveyancer to ensure all legal obligations are met," Jack says (of course, you'll need to do this even if you have an estate agent).

The cost of hiring one typically ranges from a few hundred to over £1,000, depending on factors such as fixed fees, hourly rates, the complexity of the sale and additional costs like property searches or land registry fees.

"In the absence of an estate agent, you'll be responsible for keeping your buyer informed about the progress of the sale. This involves regular updates on the status of legal procedures and any relevant developments," Jack says, before adding that this can actually be a good thing.

"By taking on these responsibilities independently, you'll have greater control over the sale process. However, it will require you to be exceptionally organised, and you'll need to be very good at communicating too."

Any risks to be aware of?

Rita Patel, legal director at law firm Browne Jacobson , tells us the biggest risk for people selling their properties without an estate agent is the lack of a vetting and verification process of the potential buyer.

Estate agents will verify the buyer's identity and check the buyer's proof and source of funds - without this, there's no way to assess the buyer is legitimate and can afford to buy.

"Whilst this process is something lawyers can help with, this is often at an additional cost, and you'll need to start from square one if there is an issue with a potential buyer's identification and/or financial eligibility," Rita says.

More generally, selling without an agent can extend the time it takes to sell.

"Zoopla suggests this timeframe is normally around 17-34 weeks, but with no one on hand to consistently promote and drive the property sale at all stages, going solo drags this process out," Rita says.

"Agents can also help mediate any potential breakdowns in communication between the buyer and seller - reducing the likelihood of having to go back to market and start again."

The advantages

Laura Owen-Brown, a PR manager from Gloucestershire, tells us she is set to sell her house without an estate agent in the near future.

"My disappointment with estate agents stems from their lack of familiarity with the properties they attempted to sell me when I was buying my current house," she says.

"They couldn't tell me about the details that truly matter, like the optimal times for sunlight in the garden, how much council tax I'd pay, what the roof was made of, the places I could walk my dog off lead or the impact of post-football match traffic on Sundays.

"These types of details can shape the experience of living in a house for years and are just as important as the square footage, EPC rating or how many bedrooms a property has," she adds.

She says the current "transactional" approach to selling houses feels "impersonal and outdated" to her.

"Yes, I'll have to handle more admin, but the savings in both money and time will make it worthwhile. Liaising with buyers and solicitors directly without a third party slowing everything down will mean I can be in control and have transparency throughout the process, especially during negotiations," she says.

All in all...

As Laura says, it's very much a case of whether you can stomach the admin and are happy to take the risks on background financial checks.

If you are aware of all the above and willing to take on the organisational burden, you could save yourself a serious chunk of cash.

As we've been reporting in the Money blog over the last few months, an increasing number of cities are either imposing or increasing the cost of tourist taxes on visitors.

Many say they are preventing damages from overtourism, as well as funding local infrastructure and businesses.

Here are the latest tourist fees for the most popular spots in Europe...

Tourists visiting Venice for the day will have to pay a €5 entry fee to enter the city between the hours of 8.30am and 4pm.

Meanwhile, those staying overnight in Venice are charged a fee between €1 to €5 within the accommodation price for the first five consecutive nights.

People visiting the Spanish city now have to pay €3.25 if they're staying in official accommodation, up from €2.75.

Manchester

Visitors must pay £1 per room, per night across 73 hotels.

The scheme, which has raised more than £2m within a year, is for improvements to attract more tourists.

Tourists must pay €2 per person for every night they stay, although this is only applied for a maximum of seven nights.

The Greek government has introduced a Climate Crisis Resilience Fee to charge tourists anywhere from €0.50 to €10 per room, per night.

The amount depends on the hotel category and the time of year.

Visitors to the Croatian city must pay €2.65 per person, per night throughout April to September.

However, the fee has been temporarily reduced to €1.86 for the rest of this year.

Different amounts are charged depending on the type of accommodation.

The most expensive charge is €14.95 for a stay in palaces, and €0.65 at one or two-star campsites, per person, per night.

Those staying in a typical four-star hotel are charged around €8.

Those staying in the Hungarian capital are charged an additional 4% each night, which is calculated based on the price of the room.

Tourists in Berlin must pay 5% of the room price, excluding VAT and service fees.

The tourist tax here has increased from €0.82 to €1.97 per day.

Prices researched by travel insurance site Quotezone.co.uk

The main topics from the Money blog that got you commenting this week were...

Government-funded childcare

Michel Roux Jr's comments about the future of the restaurant industry

Nearly 600 new skyscrapers for London

From last Sunday, eligible working parents of children from nine-months-old in England have been able to register for access to up to 15 free hours of government-funded childcare per week.

Those hours can be claimed from September.

Some readers pointed out the T&Cs...

This 15 hrs a week is for term time ONLY. So full-time working parents will have to either tell their employer they can't work in school holidays or pro-rata it across the year which is 10 hours a week. Yvonne grandma

Others said it spoke to issues in the wider childcare sector...

Is the government going to give pay rises to nursery staff? They are very low paid staff, and can't get enough staff as it is!! Nurseries may have to close if they don't get staff, so parents won't be able to take up the offer!! What is the government going to do about it? Carol

Chefs or delivery drivers?

Celebrity chef Michel Roux Jr has suggested that restaurants may only open three days per week because young people prefer other jobs - like delivering parcels.

"Just because I worked 80 hours a week or more doesn't mean the next generation should," he said.

"Quite the contrary. That is something that we have to address in our industry."

Readers said...

That's because one [job] is on the verge of slave labour and one definitely is slave labour. And the latter I'm referring to is working in a kitchen for a chef. Realist2024

Spent 35 years working as a chef. Young people nowadays are not willing to do the extra hours (usually unpaid) and work every weekend. Godsends like my generation of chefs did and do. Bucks

There's been considerable backlash in our comments section after a thinktank said a total of 583 skyscrapers are "queuing up in the pipeline" to be built across central London.

That is more than double the 270 built in the past decade...

"600 new skyscrapers on way for London" while the majority are struggling. When will something serious be done about growing wealth inequality in the UK? A growing economy is useless while the gap between the ultra rich and everyone else increases. Qwerty1

How many unnecessary skyscrapers for London? It's fine, as long as they are not made using steel, glass, concrete or bricks - don't people know there's a climate emergency? Shanghaiwan

Who's paying for it? What about the North? treelectrical

The energy price cap is set to fall by about 7% in July, a respected energy markets researcher has said.

Ahead of next Friday's announcement by Ofgem for the July-September period, Cornwall Insights said: "For a typical dual fuel household, we predict the July price cap to be £1,574 per annum" - a drop from £1,690.

Looking further ahead, it forecasted the cap will rise again slightly in October, before falling in January next year.

"A predicted 7% drop in energy prices in July is clearly good news, with the price cap looking likely to hit its lowest level in over two years," a spokesperson for Uswitch said.

Around 100 more prosecutions of sub-postmasters unrelated to the Horizon scandal could be "tainted" , a Sky News investigation has found, as officials worked with now discredited Post Office investigators to secure convictions.

The prosecutions of Post Office staff were led by the Department for Work and Pensions (DWP) between 2001 and 2006.

It is understood these usually involved the cashing in of stolen order books.

The Post Office itself wrongly prosecuted hundreds of sub-postmasters between 1999 and 2015 - based on evidence from the faulty Horizon accounting system.

Read more from our business correspondent Adele Robinson by clicking here ...

The UK's mega rich are dwindling in a sign Britain's "billionaire boom has come to an end" , according to the latest Sunday Times Rich List.

The list reveals the largest fall in billionaires in the guide's history - from a peak of 177 in 2022 to 165 this year.

While the combined wealth of the list's 350 wealthiest individuals amounts to more than £795bn - larger than the GDP of Poland - the guide's compiler says time will tell what impact a drop in billionaires could have.

"This year's Sunday Times Rich List suggests Britain's billionaire boom has come to an end," Robert Watts said.

Read on here ...

The Money blog is your place for consumer news, economic analysis and everything you need to know about the cost of living - bookmark news.sky.com/money.

It runs with live updates every weekday - while on Saturdays we scale back and offer you a selection of weekend reads.

Check them out this morning and we'll be back on Monday with rolling news and features.

The Money team is Emily Mee, Bhvishya Patel, Jess Sharp, Katie Williams, Brad Young and Ollie Cooper, with sub-editing by Isobel Souster. The blog is edited by Jimmy Rice.

The Body Shop’s administrators are to launch an auction of the chain after concluding that an alternative restructuring of one of Britain’s best-known high street retailers was not viable.

Sky News has learnt that FRP Advisory, which has been overseeing the collapsed business since January, is to begin formally sounding out potential buyers in the coming weeks.

The move raises the prospect of new owners taking control of The Body Shop, which was founded nearly half a century ago.

COMMENTS

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Oil & Gas Business Plan Template

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Executive Summary

Management Team

Business Strategy

Financial Projections

Company Overview

Business Concept

Industry Analysis

Key Industry Drivers and Trends:

Customer Analysis

Competitive Analysis

Marketing Plan

Pricing Strategy

Sales & Distribution Channels

Strategic Partnerships

Marketing Programs

Operations Plan

Drilling & Completion Activities

Production, Facilities & Maintenance

Environmental & Regulatory

Organization & Management Team

Financial Plan

Use of Funds

Projected Profit & Loss Statement

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Sample Oil and Gas Business Plan

OIL AND GAS BUSINESS PLAN SAMPLE

i. Executive Summary

Business Name & Location

Services & Products

Mission & Vision Statements

Specific Purpose

ii. Company Description

iii. Products & Services

iv. Market Analysis

v. Strategy & Implementation

vi. Organization & Management Team

vii. Financial Plan & Projections

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Oil and Gas Business Plan with Wise Business Plans

Post-Pandemic Recovery

Key Components of Petroleum Business:

How To Get Into The Oil Business

1. Decide Where to Invest

2. Make an Oil and Gas Business Plan

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3. Identify Your Investors

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5. Form a Legal Entity

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Open a Business Bank and Get Credit Cards

6. Set up a Business Bank Account.

7. Open Net 30 Account

8. Get a Business Credit Card

9. Build a Great Team

10. Use Top-Notch Equipment

11. Choose an Exploration Site

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