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  • Midland Group 5

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    Pranav Aggarwal
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    This document provides financial information for several oil and gas exploration, production, and refining companies, including their equity market value, net debt, and debt-to-equity ratio. It also includes equity betas and calculates an unlevered beta, weights earnings by company to determine an industry beta, applies leverage to determine an equity beta for the industry, estimates a cost of debt and equity, and calculates a weighted average cost of capital (WACC).

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    midland case

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    This document provides financial information for several oil and gas exploration, production, and refining companies, including their equity market value, net debt, and debt-to-equity ratio. It also includes equity betas and calculates an unlevered beta, weights earnings by company to determine an industry beta, applies leverage to determine an equity beta for the industry, estimates a cost of debt and equity, and calculates a weighted average cost of capital (WACC).

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    65 views4 pages

    Midland Group 5

    Uploaded by

    Pranav Aggarwal
    This document provides financial information for several oil and gas exploration, production, and refining companies, including their equity market value, net debt, and debt-to-equity ratio. It also includes equity betas and calculates an unlevered beta, weights earnings by company to determine an industry beta, applies leverage to determine an equity beta for the industry, estimates a cost of debt and equity, and calculates a weighted average cost of capital (WACC).

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 4

    Exploration & Production:

    Jackson Energy, Inc.


    Wide Palin Petroleum
    Corsicana Energy Corp.
    Worthington Petroleum
    Average
    Refining & Marketing:
    Bexar Energy, Inc.
    Kirk Corp.
    White Point Energy
    Petrarch Fuel Services
    Arkana Petroleum Corp.
    Beaumont Energy, Inc.
    Dameron Fuel Services
    Average
    Midland Energy Resources

    Equity Market Value


    Net Debt
    D/E
    57931
    6480
    46089
    39375
    42263
    6442
    27591
    13098

    60356
    15567
    9204
    2460
    18363
    32662
    48796

    6200
    3017
    1925
    -296
    5931
    6743
    24525

    11.2%
    85.4%
    15.2%
    47.5%
    39.8%

    10.3%
    19.4%
    20.9%
    -12.0%
    32.3%
    20.6%
    50.3%
    20.3%

    134113.958792964 79508.350819 0.5928417261

    Equity Beta
    beta unleveraged
    0.89
    0.8340230527
    1.21
    0.7999479124
    1.11
    1.0169834036
    1.39
    1.0818538785
    1.15
    0.9332020618

    1.7
    0.94
    1.78
    0.24
    1.25
    1.04
    1.42
    1.20

    1.6013002191
    0.8420787212
    1.5815338028
    0.2586520725
    1.0470925653
    0.92536967
    1.0910040189
    1.0495758671

    1.25

    0.9231131596

    Column1
    ENP
    RNM
    PETRO
    Midland

    Column2
    Column3
    Column4
    Earnings after tax
    Weights
    Beta UL
    12556
    0.6714
    0.9332
    4047
    0.2164
    1.0496
    2097
    0.1121
    18700
    1
    0.9231

    petroleum unlevered

    0.6186

    EQUITY BETA PETRO

    0.8661

    COST OF DEBT

    6.6

    COST OF EQUITY

    11.61747109

    WACC

    9.500098291

    Midland
    Debt/value
    Equity/Value

    42.2%
    57.8%

    BETA LEVERED 1.327494

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