Growth patterns studied in large oil companies

Fifteen large oil companies were studied from 1991 to 2001 to assess growth rates in reserves and production. Five companies from the original group were acquired by others within the group during this period.In the study, historical growth patterns were examined among large oil companies, using only the upstream segment of the business.The key drivers for upstream growth are increases in production rates and reserves. Revenue and profit growth typically follow directly from increased production, although price fluctuations can strongly influence profitability.The data for this study came from the annual reports and investor information released by Amerada Hess Corp., Amoco Oil Co., ARCO,...

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