Energy & Natural Resources

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The energy transition is rewriting what a reserve, a plant or a pipeline is worth.

The energy transition is rewriting what a reserve, a plant or a pipeline is worth. A price deck drawn in one decade can be obsolete in the next.

The decision that matters is what these assets are worth across the whole cycle — not at one point in it.

Our expertise

The firm has valued resource interests and energy infrastructure since 2008; its work today applies IFRS 6, IAS 16 and IAS 36 with IFRS 13 fair value, and aligns disclosure to IFRS S1 / S2 and TCFD. Every engagement is led by a qualified director and reviewed for independence.

Meet the team behind this work

How we work

We value resource interests and infrastructure with price-deck and discount-rate sensitivity, and test the climate-transition assumptions that now move these numbers. The client supplies the reserve reports, the PPAs and the production profile; we set the method and own the review. It fits an impairment test, a transaction, a financing or a climate disclosure.

How we value energy & natural resourcesThe number has to hold across the cycle, not at one point in it.
View the data
  1. Scope the interests & purpose
  2. Build the price deck
  3. Model cash flows & discount rates
  4. Independent review
  5. Report: basis, method, assumptions

What you receive

  • A valuation report stating the basis, method and assumptions — what the board and auditor will test
  • Documented price-deck and discount-rate sensitivity — so the number can be reconstructed
  • Resource and infrastructure valuation under IFRS 6 / IAS 16 / IAS 36 and IVS 2025 — for impairment and reporting
  • Climate and transition disclosure support (IFRS S1 / S2; TCFD) — for the annual report

The number has to hold across the whole cycle, not at one point in it — so we test it against the price deck and the discount rate at once.

Industry valuation snapshot

Data as of 2026-10-07 · EODHD via apdb data plane · fair-value MCP

HK median P/E10x
US median P/E18.6x
HK discount vs US46%
US aggregate capUS$9.5tn

Decision-support only — not investment advice. Figures are unaudited and point-in-time; they move with price and reported earnings. Verify before publication.

Talk to us about Energy & Natural Resources valuations