本书研讨了影响全球石油和天然气资产并购价格的三类主要因素：国际油气市场价格、油气资产所在国家（地区）的政治经济风险、每件并购的具体交易条款和资产属性。作者以1999年4月至2012年10月间全球公布的1664件油气并购交易为样本，首先对数据进行多重分层和分组，采用非参数检验方法对各组交易的并购价格进行了定性对比分析，在此基础上，继而采用多元线性回归模型针对上述各种影响因素对油气并购价格的解释力（相关系数）进行了量化分析。

作者在书中创造性地采用了单位储量风险这一核心度量指标，严格遵循了风险/收益对价理论、油气市场现货/期货理论、并购理论等金融理论，是金融方法论在油气能源行业实证应用的一次全新实践。

1 Introduction
2 General Literature

3 General Data
3.1 Global Oil and Gas M&A Database
3.2 Oil and Gas Markets
3.3 The International Country Risk Guide
3.4 Data Structure of 1，664 Oil and Gas Deals
3.5 Preliminary Results

4 Methodology
4.1 Group Comparison
4.2 Theoretical Model of Reserve Takeover Discount

5 Oil and Gas Markets
5.1 Further Insights on Oil and Gas Markets
5.2 Backwardation Effect on Reserve Takeover Discount
5.3 Correlation Effect on Reserve Takeover Discount

6 Oil Dominated Deals vs. Gas Dominated Deals
6.1 The Idiosyncratic Behavior of Reserve Takeover Discount in Oil Dom- inated Deals vs. Gas Dominated Deals
6.2 Effect of Gas Reserve Percentage on Oil and Gas Deal Pricing

7 High-Risk Deals vs. Low-Risk Deals
7.1 Comparative Results in High-Risk Deals vs. Low-Risk Deals
7.2 Using A Specific Risk-to-Reserve Metric to Measure Deal Risk

8 Cash Dominated Deals vs. Noncash Dominated Deals
8.1 Comparative Results in Cash Dominated Deals vs. Noncash Domi-nated Deals
8.2 The Control Issue and Choice of Payment Method in Oil and Gas Reserve Acquisitions

9 Equity Purchase Deals vs. Asset Purchase Deals
9.1 Comparative Results in Equity Purchase Deals vs. Asset Purchase Deals
9.2 The Choice of Transaction Structure in Oil and Gas Reserve Acqui- sitions
9.3 Segmentation of Oil and Gas Deals in Cash-Noncash / Equity-Asset Groups

10 Overall Regression Results and Conclusion
10.1 Regression Results
10.2 Conclusion

List of Tables
List of Figures
Bibliography

王强宇，安徽定远人，工商管理博士，曾先后在西安交通大学管理学院、中山大学法学院、哈萨克斯坦KIMEP大学商学院学习工作。

作者秉承能源驱动未来、金融助力能源的理念，力图从理论和实证双重角度丰富和完善能源金融体系。本书是作者在哈萨克斯坦学习工作期间的研究成果，从实证角度论证了影响跨国油气资产并购价格的主要因素，这也是作者目前正在研究构建的全球油气资产并购（事前）评估和（事后）评价体系的理论基矗