We analyzed how varying WACC inputs shift equity NAV/share in Shell's upstream oil valuation models:
🔹 12% → $71.20/share
🔹 10% (Base Case) → $74.74/share
🔹 8% → $79.00/share
A move from 12% to 8% implies a 35%+ valuation jump.
This isn’t just finance—it’s a strategic framing of risk.
Full write-up and model at PetroSymposium.
https://www.petrosymposium.com/p/shells-true-worth-a-net-asset-value?r=59s3mr