Mergers and acquisitions are a defining feature of the oil and gas sector. Price volatility, the energy transition and capital discipline are driving majors to divest mature or non-core assets, while independents, national oil companies and new investors look to buy production, reserves and infrastructure. Each transaction carries distinctive technical, fiscal and regulatory risks that general corporate finance training does not address.

The Mergers and Acquisitions in Oil and Gas Training Course covers the complete deal lifecycle in two stages. The first five days establish the foundations: industry structure and deal rationale, reserves and resource classification, economic evaluation under different fiscal regimes, valuation approaches and the main transaction structures. The second five days deepen practice: detailed due diligence, risk allocation in sale and purchase agreements, joint operating agreement issues, tax planning, financing, government approvals and pre-emption rights, negotiation, closing mechanics, integration and divestment of assets with decommissioning obligations.

Instruction is built around worked valuation models and a progressively developed deal file. Participants build and stress-test a cash flow model, review a mock data room, redline key clauses and negotiate in teams. The closing days bring these elements together in a full transaction simulation, with feedback from the facilitator.

By the end of the course, participants will be able to:

• Explain the strategic drivers and structures of oil and gas transactions.
• Interpret reserves and resource classifications and their effect on value.
• Build discounted cash flow models for upstream assets under different fiscal regimes.
• Apply asset-based, income-based and market-based approaches to valuation.
• Select and compare deal structures such as asset sales, share sales, farm-ins and swaps.
• Plan and run technical, financial, legal, tax and environmental due diligence.
• Negotiate and allocate risk in sale and purchase agreements and related contracts.
• Evaluate financing, regulatory approval and decommissioning issues in a transaction.

This advanced programme is intended for professionals who originate, evaluate or execute energy transactions, including:

• Corporate development and business development managers
• Commercial, finance and strategy managers in oil and gas companies
• Reservoir, asset and portfolio managers supporting deals
• In-house counsel and external lawyers advising on energy transactions
• Investment bankers, private equity and fund managers
• National oil company and ministry officials reviewing transactions
• Regulators and licensing authority staff
• Auditors, tax advisers and valuation specialists

Participants leave the course with:

• A flexible asset valuation model that can be adapted to different fiscal terms.
• A due diligence checklist and request list covering technical, legal, tax and environmental areas.
• A matrix of key sale and purchase agreement clauses with typical risk allocations.
• A deal structuring decision guide for choosing between asset and share transactions.
• Practice in negotiating price adjustments, warranties and indemnities.
• An integration and separation plan outline with early priorities.
• A scenario framework for testing deals against price and transition risks.

The ten days build skills through repeated practice on a single evolving deal. Methods include:

• Expert presentations that link valuation, legal and technical issues
• Spreadsheet laboratories for cash flow models and sensitivity analysis
• A mock data room and checklist exercises for due diligence
• Clause-by-clause workshops on sale and purchase agreements
• Negotiation role plays and a full closing simulation with feedback

Participants who attend all ten days and take part in the exercises and simulation receive a CPD-accredited Certificate of Completion from Vision Reach Global Consultancy.