This article demonstrates how ownership analysis works for Repsol.
For an explanation of ownership concepts including Company Level, Company Is Top Level, and Field Interest Is Direct, see the Understanding ownership in Lens Upstream article.
Common Analysis Scenarios
Scenario 1: What does Repsol own as a whole?
Filters
Company = Repsol
Company Level = Ultimate
Expected Results
Column | Value |
Company Is Top Level | Y |
Field Interest Is Direct | Y or N |
Interpretation
This view includes:
Directly owned assets
Indirectly owned assets
Subsidiary-owned assets
Ownership rolled up through the corporate hierarchy
Screenshot
Scenario 2: What assets does Repsol directly hold?
Filters
Company = Repsol
Company Level = Direct
Expected Results
No results are returned.
Interpretation
When the Company Level is set to Direct, Lens only returns assets where the selected company is the legal holder of the field interest.
In this example, no results are returned on the Company_field_summary view because field ownership is held through one or more subsidiary companies rather than directly by Repsol.
Screenshot
Scenario 3: What assets roll up to Repsol through subsidiaries or corporate ownership structures?
Filters
Company = Repsol
Company Level = Ultimate
Field Interest Is Direct = N
Expected Results
Column | Value |
Company Is Top Level | Y |
Field Interest Is Direct | N |
Interpretation
These assets belong to entities lower in the ownership chain but are economically attributable to Repsol.
Screenshot
Company Example
Asset Name: Pikka
Pikka is a major development located on Alaska's North Slope in the United States.
Repsol has exposure to the asset through its corporate ownership structure, making Pikka a useful example for understanding the difference between Ultimate and Direct company-level analysis.
In this example, the results have been filtered to Pikka, with no company filter applied.
Ultimate Company Level
When the Company Level is set to Ultimate, the asset appears under Repsol because ownership is rolled up to the highest company in the corporate hierarchy.
In this view:
Company Is Top Level = Y
Field Interest Is Direct = N
The Company to Field Chain column shows how ownership is attributed from the operating entity back to Repsol.
Although Repsol appears in the results, it is not the direct holder of the field interest. The asset is being attributed to Repsol through its corporate structure.
Direct Company Level
When the Company Level is switched to Direct, Repsol no longer appears in the results.
Instead, the results show Repsol Upstream since they directly hold interest in Pikka. Because Repsol itself is not the legal holder of the field interest, it is excluded from the Direct ownership view.
In this view:
Field Interest Is Direct = Y
Company Name= Repsol Upstream
Company Is Top Level = N
