A petroleum company's asset portfolio and capital allocation practices are leading indicators of future performance. Understanding the company's opportunity portfolio's maturity in conjunction with embedded core competencies, gives management a quantitative tool to allocate capital between exploration, development, sales and acquisition. This article uses fifteen companies’ publicly reported, historical performance data to test the predictive ability of a multidimensional model of investment portfolio management (SPE82006). The suite of companies includes acquirers and acquirees, as well as those who grew organically over the last two decades. The article reports on a refined model framework and demonstrates its predictive abilities.

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