Business-Oriented Reserves and Resource Management - Experiences from a Merger

2021 ◽  
Author(s):  
Thies Dose ◽  
Gunar Kachel

Abstract In May 2019, the merger between Wintershall GmbH and DEA Deutsche Erdoel AG was closed, which was the start of Wintershall Dea.This paper provides detailed insight into managing reserves and resource information during this merger. After merger, three resource management activities required attention: (i) combining existing resources reporting, (ii) defining a lean but effective resources management and control system, and (iii) ensuring readiness for Initial Public Offering (IPO) by establishing an external independent evaluation of resources ("external resource audit"). This paper describes objectives, challenges and solutions on reserves and resources reporting of the new company. The merged reserves and resources database of the previous year's reports had to consider audits from two different reporting systems in parallel to four different external auditors.With priorities defined by status of external auditing, operatorship and asset share a common database was derived and could immediately be used for financial transactions such as the issuance of an inaugural bond. The new system for internal reporting of petroleum resources provides a fit-for-purpose approach, such as a consistent interpretation of commerciality criteria or definition of resources sub-classes.Particular attention was paid to synergies with respect to business planning, strategic portfolio analysis, and a link to technology & innovation. By defining specific attributes and sub-processes, the portfolio can be analyzed systematically. This provides additional insights and ensures synergies with business planning, strategic planning as well as internal technology initiatives. A systematic resource control system is defined focusing on internal review, external and internal audits as well as synergetic use of project reviews. Moreover, a feedback loop for continuous improvement of reservoir management allows attending to important audit observations. The external resource audit to ensure IPO readiness was structured to assign tasks for head office, business units and auditing company.The sequence of events from introduction to assets to reconciliation of differences between auditor and company was set-up, executed and monitored.Focus was on the definition of a structured but agile approach for external independent evaluation of all reserves and contingent resources.

2011 ◽  
pp. 967-975
Author(s):  
José Antonio Fernández-Sánchez ◽  
Susana de Juana-Espinosa ◽  
Jorge Valdés-Conca

An information system (IS) is “a set of people, procedures, and resources that collects, transforms, and disseminates information in an organization. A system that accepts data resources as input and processes them into information products as output” (O’Brien & Marakas, 2005). Likewise, the definition of human resource information Systems (henceforth HRIS) can be expressed as an IS that deals only with information related directly to the human resource management (HRM) area (Tannenbaum, 1990). Initially, computerized HRIS were only useful for administrative purposes. However, in the course of the last decade, that tendency has changed markedly and a strategic re-orientation of these applications is nowadays considered desirable and necessary for companies competing in today’s uncertain, complex and ever-developing environment. This phenomenon has turned HRIS into a major strategic means, capable of providing information about the actual capacity of the firm, its potential, and the potential of its competitors. This research paper aims to provide an in-depth analysis of HRIS usage as a tool for assisting in recruitment decisions. This was carried out in accordance with the empirical findings of a quantitative research on selection and recruitment processes in Spanish firms. This paper reports and evaluates the major results of this current study and discusses its theoretical and practical implications with a view to increasing the effectiveness of HRIS usage for its recruitment processes.


Author(s):  
Susan Chaplinsky ◽  
Kensei Morita ◽  
Xing Zeng

This case provides comprehensive coverage of a firm's decision to undertake an IPO and the process of going public. The case follows the sequence of events from the company's incorporation in 1999 through the completion of an IPO in September 2005. In addition to raising capital, the TRX IPO case also includes consideration of another motivation for going public. At the time of its incorporation in November 1999, TRX attempted to go public but in the ensuing dot-com collapse, the IPO was never completed. In response to the failed IPO, TRX president and CEO, Trip Davis, turned to strategic investors to raise $20 million in a note convertible into equity at $11 per share. Although Davis had hoped the strategic investors would provide guidance and business opportunities for TRX, they never materialized. By 2004, he had come to believe that the largest strategic investor, Sabre, Inc., was not working in TRX's best interest. Thus, the IPO is motivated by a twofold purpose: to raise money and to provide for a strategic reorganization of the firm's ownership structure.


Author(s):  
José Antonio Fernández-Sánchez ◽  
Susana de Juana-Espinosa ◽  
Jorge Valdés-Conca

An information system (IS) is “a set of people, procedures, and resources that collects, transforms, and disseminates information in an organization. A system that accepts data resources as input and processes them into information products as output” (O’Brien & Marakas, 2005). Likewise, the definition of human resource information Systems (henceforth HRIS) can be expressed as an IS that deals only with information related directly to the human resource management (HRM) area (Tannenbaum, 1990). Initially, computerized HRIS were only useful for administrative purposes. However, in the course of the last decade, that tendency has changed markedly and a strategic re-orientation of these applications is nowadays considered desirable and necessary for companies competing in today’s uncertain, complex and ever-developing environment. This phenomenon has turned HRIS into a major strategic means, capable of providing information about the actual capacity of the firm, its potential, and the potential of its competitors. This research paper aims to provide an in-depth analysis of HRIS usage as a tool for assisting in recruitment decisions. This was carried out in accordance with the empirical findings of a quantitative research on selection and recruitment processes in Spanish firms. This paper reports and evaluates the major results of this current study and discusses its theoretical and practical implications with a view to increasing the effectiveness of HRIS usage for its recruitment processes.


2016 ◽  
Vol 8 (1) ◽  
pp. 53-74
Author(s):  
Maria Jeanne ◽  
Chermian Eforis

The objective of this research is to obtain empirical evidence about the effect of underwriter reputation, company age, and the percentage of share’s offering to public toward underpricing. Underpricing is a phenomenon in which the current stock price initial public offering (IPO) was lower than the closing price of shares in the secondary market during the first day. Sample in this research was selected by using purposive sampling method and the secondary data used in this research was analyzed by using multiple regression method. The samples in this research were 72 companies conducting initial public offering (IPO) at the Indonesian Stock Exchange in the period January 2010 - December 2014; perform initial offering of shares; suffered underpricing; has a complete data set forth in the company's prospectus, IDX monthly statistics, financial statement and stock price site (e-bursa); and use Rupiah currency. Results of this research were (1) underwriter reputation significantly effect on underpricing; (2) company age do not effect on underpricing; and (3) the percentage of share’s offering to public do not effect on undepricing. Keywords: company age, the percentage of share’s offering to public, underpricing, underwriter reputation.


Author(s):  
Saefudin Saefudin ◽  
Tri Gunarsih

Underpricing is a phenomenon that still occurs in the Indonesian capital market, where the offering price of shares in the primary market is lower than the opening price or closing price on the first day on the secondary market. This study aims to examine the effect of Return On Assets (ROA), Debt to Equity Ratio (DER), company size, underwriter reputation, age, and interest rates on the underpricing of shares in companies’s Initial Public Offering (IPO) listing on the Indonesia Stock Exchange (BEI) in 2009 to 2017. The population in this study are companies that conduct IPOs on the BEI period 2009 to 2017. The sample selection in this study uses a purposive sampling method, based on certain criteria. The sample in this study were 183 underpricing companies from 205 companies conducting IPO in the period 2009 to 2017. The data used in this study used secondary data. The multiple regression analysis was implemented in this study. The results showed that DER, company size, and underwriter reputation did not significantly influence underpricing. While ROA, age and interest rates have a significant negative effect on underpricing. In this study, investors consider ROA, age, interest rates compared to DER, company size, and the reputation of the underwriter to invest in companies that make an IPO.Keywords: Underpricing, Initial Public Offering, and Indonesian Stock Exchange.


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