Kevin L. Boyle, Consulting

Kevin L. Boyle

Mr. Boyle covers the petrochemical, oil/gas and NGL markets through to derivative products.  He has more than thirty years experience in oil/gas, petrochemicals, polymers and plastics.  Mr. Boyle provides clients with advice and support in the areas of pricing, forecasting, market research, acquisitions, due diligence, asset valuation and optimization, and risk management, hedging and trading strategies.

Mr. Boyle has provided consulting services to major International Oil Companies, producers, banks and international financial institutions, and foreign governmental entities.  He was one of the original management team guiding the creation and start-up of ChemMatch, an internet commodity chemical exchange, and separately developed the market analysis group for Koch Industries chemical trading group.  Prior to these experiences, he spent fifteen years at Occidental Chemical Corporation (OxyChem).  At OxyChem, he was responsible for market research for all polymers and petrochemicals.  Earlier he filled various business development roles, and started his career in manufacturing engineering and product development.  Mr. Boyle earned an MBA in Financial Planning and Control from SUNY at Buffalo, and a BS in Chemistry from the University of Wisconsin.  He is a PhD candidate in Finance.  Professor Boyle is an adjunct professor of business, teaching quantitative subjects, strategy, and global management courses at both the graduate and undergraduate levels.

Strategic consulting

Mr. Boyle acted as an advisor to a Middle Eastern government, counseling Ministers and staff on the petrochemical elements of a multi-billion dollar natural gas initiative.  Over the course of nearly two years, Mr. Boyle created a development strategy for more than ten million tons of proposed ethylene capacity and derivatives.  This strategy included product and technology selection, target marketing strategies, fundamental financial analysis, and negotiating strategies.  In support of the Ministers, Mr. Boyle developed proposal requirements and evaluation guidelines for project submittals by independent oil companies, and performed the definitive reviews of their proposals.

Representing a large group of lending banks, Mr. Boyle advised during bankruptcy proceedings.  This project required a forecast of selected product markets, and evaluation of the debtor’s position and ability to compete.  This evaluation was determined by means of technical due diligence of the plant sites, multiple valuations of the assets, and analysis of the debtor’s contracts, capital projects and market obligations.  His service also included the periodic review of the debtor’s financial operating statements and outlooks, and the evaluation of asset sale offers.

In response to Board of Director level challenges to executives of a major U.S. petrochemical company, Mr. Boyle made a highly detailed analysis of a mature polymer’s position across its various market applications.  This analysis required not only a detailed statement of the competitive position of the polymer and a forecast of its future strength, but a forecast of the growth and development of technologies that would influence its markets.  This information was used by senior management and the board of directors to determine research and development funding, and future support for this mature product.

In order to assist an industry group in price negotiations with government agencies, Mr. Boyle developed a comprehensive valuation methodology for the complete value chain of petrochemical feedstocks and products.  Additional values, including trade issues, employment, and macroeconomic influences were quantified for the industry group.

Mr. Boyle developed a rigorous analysis technique in drilling and completions to evaluate cost savings and resource based revenue opportunities.  He helped a client identify 20% cost savings on established, factory drilling and completions operations; and 15% increase in NPV of incremental revenues from more efficient use of assets.

Expert Witness

Supporting plaintiffs in a class action suit related to propane trading fraud, Mr. Boyle defined the affected geographic market and assessed damages.  This unique analysis drew compliments for the US Department of Justice.  Mr. Boyle also uncovered complex trading and financial maneuvers in the case.

Due Diligence

Mr. Boyle conducted technical due diligence over the course of several months, on numerous plant and R&D sites throughout Europe and in the U.S. on a multi-billion dollar acquisition of petrochemical assets.  This project required an examination, review, and evaluation numerous plant sites and more than twenty different chemical products and technologies.  The evaluation included a review of the technology, an assessment of each unit’s operating results and their ability to compete.  Besides the units themselves, the evaluation included off-sites, services, staffing levels, and technology implementation.

Having responsibility for commercial development, Mr. Boyle managed business due diligence on a $1.5 billion product line acquisition.  This responsibility required the collection and interpretation of financial and operating data necessary to establish the final purchase price.

Financing Support

Working with a group of indigenous West Africans, Mr. Boyle developed full pro forma financials for an off-shore drilling project using conventional and option pricing techniques.  He continued support of the group writing the initial business plan and preparing pitch decks for fund raising.

Mr. Boyle conducted a financial and operating forecast review of a Southeast Asian petrochemical producer as a representative of a bank group financing an expansion of the operation.  The project required market validation of the forecast value of specific product grades, local markets, and the company’s ability to sell.  Included in the project was a review of regional feedstock and monomer pricing.  The development of a regional cost curve was critical to establishing a feedstock negotiating strategy and establishing the ultimate competitive position of the company.

Representing an international financing agency, Mr. Boyle was charged with performing an independent competitive evaluation of a Southeast Asian polymer producer.  This project required the development of multi-market variable simulation models of the target facility and several competitive operations.  Since this was a financing requirement, a twenty-year forecast of operating results was required.

Mr. Boyle represented the interests of a private, Southeast Asian utility company in the purchase of on-site power and water utilities at a regional petrochemical producer.  This project required the development of a competitive analysis of the site done by applying market and price forecasts to the company’s operating forecast.  Ultimately, a detailed cash flow analysis was required to satisfy the company’s ability to pay.

Trading Related Work

Mr. Boyle has developed proprietary support, leading market analysis groups, supporting natural gas, NGL and aromatics trading.  Work has included proprietary studies for new futures contacts globally.  Significant projects have been executed in OTC derivatives and ISDA trading.

Mr. Boyle developed NGL and petrochemical cost and price curves by meticulously establishing data requirements and vetting commercially available data.  From the established curves, over-the-counter swap transactions were evaluated and priced.

Working with proprietary and market data, Mr. Boyle developed price models and unique hedging strategies for financial derivatives in pulp and paper segments.

Other General Skills

Mr. Boyle has developed many price forecasts for clients on basic petrochemicals, specialty chemicals, and within specific geographic markets.  He has developed countless financial operating models for plants, integrated sites, and markets.  He has provided experience in the review and development of price formulas, especially transfer pricing among partners in join operations.

Independent Consultant

Kevin has been an independent consultant since 2003. Kevin has a range of affiliates covering engineering, litigation, and other areas globally.

Projects can be executed nearly anywhere in the world.

Product competencies:

Ethylene, propylene, butadiene, benzene, styrene, polyethylene, polypropylene, polystyrene, PVC, PET, chlorine, caustic soda, plastics, polymers, olefins, polyolefins, ethane, propane, butane.

Skills

Stress testing and scenario testing, market analysis, price forecasting, commodities, trading, financial anlaysis, valuation, supply/demand, advisory serives.