Table of Contents
Corporate Impacts of Peak Oil ......................................................... 3
ConocoPhillips – Upgrade Focus and Oil Growth ........................ 11
ExxonMobil – Oil growth ................................................................ 14
Chevron – Oil growth ...................................................................... 16
Occidental – Oil growth .................................................................. 18
Marathon – Oil growth.................................................................... 20
Hess – Oil growth ............................................................................ 22
Murphy – Oil growth ....................................................................... 24
CNQ – Oil growth ............................................................................ 26
Suncor – Oil growth ........................................................................ 28
Revised EPS estimates.................................................................... 30
Valuation and risks.......................................................................... 33
The Deck........................................................................................... 36
The valuations.................................................................................. 37
ExxonMobil – NAV, P&L, Cashflow................................................ 38
Chevron – NAV, P&L, Cashflow...................................................... 40
ConocoPhillips – NAV, P&L, Cashflow........................................... 42
Occidental – NAV, P&L, Cashflow.................................................. 44
Marathon – NAV, P&L, Cashflow ................................................... 46
Hess – NAV, P&L, Cashflow............................................................ 48
Murphy – NAV, P&L, Cashflow....................................................... 50
CNQ – NAV, P&L, Cashflow ............................................................ 52
Suncor – NAV, P&L, Cashflow........................................................ 54
Valero – NAV, P&L, Cashflow......................................................... 56