Energy, utilities and mining industry publications

Winning in a different world: 2009 energy board symposium viewpoints
On May 20, 2009, PwC held the second day-long energy board symposium for energy board directors. This compilation recaps the day's discussions: geopolitical risk, T. Boone Pickens' insights on where the future of the energy industry, regulatory and financial risk management, sustainability and carbon emissions, SEC reserves reporting changes, corporate governance, and regulatory and legislative policy.

Driving sustainable cost reduction: Contracting effectiveness and compliance
Today’s market volatility has energy companies scrambling to keep spending in check. Ensuring that existing procurement contracts are delivering on their promised value is a good start.

Easing the transition: New exemptions under IFRS 1 for full cost companies
In July 2009, the IASB issued Additional Exemptions for First-time Adopters—Amendments to IFRS 1 (the “Amendments”), which provides specific guidance to companies transitioning to IFRS for the first time. For oil and gas companies that currently apply the full cost method of accounting the new guidance helps to ease the potential transition to IFRS.

Beyond short-term savings: Sustainable cost reduction delivers long-term value
Today’s market presents a prime opportunity to move beyond traditional cost cutting measures that have a short period of impact. Why not turn cost elimination initiatives into efforts focused on creating a longer-term competitive advantage? By focusing on improving how work is accomplished throughout the organization and aligning the culture of spending with strategic objectives, companies can realize meaningful, long term value to the bottom line.

On May 20, 2009, PwC held the second day-long energy board symposium for energy board directors. This compilation recaps the day's discussions: geopolitical risk, T. Boone Pickens' insights on where the future of the energy industry, regulatory and financial risk management, sustainability and carbon emissions, SEC reserves reporting changes, corporate governance, and regulatory and legislative policy.

Energy board network viewpoints: Year in review
This compilation of articles recaps the conversations from the 2008-2009 energy board network event topics specific to the energy industry: Succession planning and talent management, FCPA, US energy policy, the global credit crisis, IFRS, geopolitical risk, fair value accounting, enterprise risk management, sustainability and master limited partnerships.

Leading the change: SEC's new rules for reserves reporting
For more than 25 years, the SEC’s rules for measuring and reporting oil and natural gas reserves remained relatively unchanged, despite increased geological complexity, significant advances in technology and increased price volatility in global markets. Today, however, a new set of reporting principles—adopted in late 2008—will impact the way oil and gas companies communicate reserves information to stakeholders. The SEC’s new rules give energy executives and directors the opportunity to more closely align reserves reporting with their overall business strategy and their competitive position in the marketplace.

Energy transaction trends: April 2009
Can we remove some of the copy in the publication landing page abstract copy? Please just use the first sentence: This bi-annual publication focuses on merger and acquisition trends in the Energy industry and other topics of current interest to energy companies.

Deal making: Mergers and acquisitions in a distressed economy
A distressed market means there is opportunity available for energy companies that understand the nuances of deal making in a down cycle. The key to success is rethinking the acquisition approach. Current market conditions are creating opportunities for buyers with access to capital who are not content to sit on the sidelines watching and waiting.

Market conditions create anxiety for energy firms
The commodity price environment continues to be highly volatile and the credit crunch is real and impactful. The combination of these issues has potential to create a high level of risk for energy companies that rely heavily on derivatives to protect themselves from price exposure. Volatile energy prices and lack of credit availability threaten companies with derivative exposure.

Fueling future growth: Building a sound and sustainable energy policy
The US is in the midst of its third major energy crisis in the last 30 years. Companies, as well as consumers, are understandably concerned about the rising energy prices and unpredictable availability. The time is right for US policy makers to move beyond the sound bytes and rhetoric and develop a solid and sustainable energy policy that supports economic growth in an interdependent world.

US energy insights: Getting in step with IFRS
PwC US energy sector whitepaper outlining considerations for the transition from US GAAP to IFRS (International Financial Reporting Standards) that takes into account the ways energy companies must account for critical items such as exploration and production costs; depletion, depreciation and amortization; inventory; joint ventures; and reserves.