Avaliação de uma empresa pré-operacional do setor de óleo e gás pelo fluxo de caixa descontado e avaliação por múltiplos: estudo de caso: OGX

Abstract

This project has the objective of evaluating the opportunity to invest in the OGX stock. This valuation will be based on discounted cash flow. It is essential to consider economic, financial, and operational risks in the cycle of startup. The analysis begins from an oils discovery to the perpetuity and residual value of the firm. After that, it will measure the OGX target price. The Top-Down method will be based on complexity of the oil industry and its importance for the Global GDP, changes and environmental challenges in the world. Therefore, it is essential to evaluate geopolitical events, logistics, anthropology and sociologic backgrounds. We are in a new age, where the environment has been gaining much strength, even though it has been dependent on political and economical decisions. It will measure the financial index and the peers of the company at this operational stage, and through these measures will project the oil reserves, daily production, and the last mergers and acquisitions of the oil and gas sector. Valuation results are based on discounts of company´s guidance, and the relative valuation will enable big ranges between the targets stock price.