April 6, 2009
“Why This Gas Price? The Outlook For Return On Investment”
What’s driving current natural gas market prices and factors that may influence future prices, including a projection for LNG dumping into onshore U.S. pipes, are described here.
Dave Pursell, Managing Director, Head of Macro Research, Tudor, Pickering, Holt & Co. LLC
“The New Washington: Law And Policy That May Affect The Value Of Unconventional Resources”
There’s a new administration in the White House and a new Congress on Capitol Hill. While arguments over energy policy have cooled since the $4-plus transportation-fuel prices of the summer of 2008, the alarming economic indications of US$147 oil remain apparent. What’s on the agenda in Washington, and how will this affect U.S. unconventional-gas development?
“Current Unconventional-Resource A&D Price Metrics”
While unconventional-resource plays remain stalwarts of potential across the onshore U.S., sticker prices are falling—as is the case for any oil and gas asset today—but may be affected more due to the lease-expiration nature of the nascent plays and the financially distressed situation of some players. What’s it cost now to enter or expand in each play?
Ward Polzin, Managing Director - A&D, Tudor, Pickering, Holt & Co. LLC
“Funding Unconventional-Resource Acquisitions Today”
Land deals are often funded from cash flow or existing credit facilities—two capital resources that are constrained today. Built-up cash powder and stock-for-stock merger are mostly the means of acquiring entry or expansion in an unconventional-resource play now. Here’s why.
M. Lynn Bass, GasRock Capital LLC
“Unconventional Bust: The Great Land-Expiration Rush”
Billions of dollars were dropped into acquiring acreage in unconventional plays in 2008, and then commodity prices—thus cash flow for drilling to hold leases by production—collapsed while access to debt and equity markets retreated. Some lease terms are for only three or five years, while some are secured by longer terms, existing shallow rights or outright ownership. The nature of lease terms, by play, is described here.
Randy King, Partner, Porter & Hedges LLP
“New SEC Rules, New Valuations Of Unconventional-Resource Reserves?”
The rules have changed and go in effect with year-end 2009 financial reporting. How do the new parameters affect valuation of unconventional-resource reserves, in particular? And, will the effects begin to seen before year-end?
Scott Rees, Chairman and CEO, Netherland, Sewell & Associates, Inc.
“Got Pipe? Forward-Looking Basis Differentials, And Getting Production To Market”
Some unconventional resources are ready to produce yet are awaiting gathering and big pipe. What are the current take-away capacities by play? And, what are the forecasted basis differentials? Is stranded unconventional gas possible? Will it shut in conventional resources?
Tom Sherman, Senior Energy Analyst, Bentek Energy LLC
“Tips, Tricks and Traps: Advice From The Unconventional Gas A&D Pros”
Community relations. Technical competency. Staying ahead of lease expirations. Sell or bring in a drilling partner? Unconventional plays can come with challenges that may be outside a potential buyer’s existing toolbox. For example, many plays require horizontal drilling, and more challenging and expensive completions. And, many plays involve urban or activist surface-rights owners. Here, in a roundtable discussion, veterans in unconventional gas M&A and operations share their wisdom on successful deal-making and asset development.
- Chad Stephens, SVP-Corporate Development, Range Resources Corp.
- Timothy L. Petrus, Executive Vice President - Acquisitions, XTO Energy Inc.
- Blaine Stribling, Asset/Corporate Development Manager, Comstock Resources
Developing Unconventional Gas Conference PRESENTATIONS
The following speakers do not have their presentations readily available. We apologize for the inconvenience and have noted when each presentation will be available. If you would like to contact a speaker directly you may contact the Conference Team for additional details.
Screamers in East Texas: What Deep Bossier, Travis Peak, Cotton Valley Can Do
Russell Porter, Chairman, President & CEO, Gastar Exploration Ltd. - Not Available
Marcellus Here, Marcellus There: The Appalachian Shale's Geology State-to-State
Katherine Lee Avary, West Virginia Geological Survey - Not Available
From the Rig Floor: How Operators See This Unfolding
Mike Walen, SVP and COO, Cabot Oil & Gas Corp. - Not Available
Well Indications from South Texas Shale
Robert Clarke, Lead Analyst US Lower 48, Wood Mackenzie - Not Available
BPs View of North American Gas Markets
Andy Hopwood, Vice President, BP America - Not Available
Tuesday, April 7, 2009
"BPs View of North American Gas Markets"
Andy Hopwood, Vice President, BP America
BP is one of the top 2 producers of natural gas in North America. It spends about $6 billion annually in the U.S. alone, and natural gas takes a large percentage of that. In 2008, it paid $1.75 billion to enter Oklahoma's Woodford and $1.9 billion to form a JV in the Fayetteville. Learn more about the company's perspective on gas supply, demand and price trends.
Cost Vs. Reward: Organic and Inorganic Unconventional-Gas Economics
This panel looks at the cost hurdles play by play, the price of acquisitions vs. drilling, and answers to takeaway gridlock.
Moderator: Nissa Darbonne, Executive Editor, Oil and Gas Investor
- U.S. Natural Gas Glut-Causes and Cures
Thomas L. Gardner, Director, Simmons & Co. Int'l - At What Price Unconventional Gas? The Cost Hurdles, Play-by-Play
Subash Chandra, Managing Director, Jefferies & Company - M&A Aspects of Shale and Tight Gas
William A. Marko, Managing Director, Jefferies Randall & Dewey - But, It Doesn't Go There From Here: Answers to Take-Away Gridlock
Porter Bennett, President and CEO, Bentek Energy LLC
CBM, Tight Gas and More: Developing Non-Shale Unconventional Gas Resources
There is more to gas resources than shale. This panel focuses on a comparison of North American CBM plays, the booming gas plays of East Texas, the Rockies, and the Granite Wash.
Moderator: Peggy Williams, Sr. Exploration Editor, Oil and Gas Investor
- Cherokee, Forest City, Arkoma: Latest on Midcontinent CBM Resource Development
Chris Ryan, Manager of Business Development, Admiral Bay Resources Inc. - Operator Results in the Rockies
Michael Decker, Executive Vice President and COO, Gasco Energy, Inc. - Letting the Tight-Gas Out of the Granite Wash: Operators' Results
Kamil Tazi, VP of Engineering & Planning, Cordillera Energy Partners III LLC - Screamers in East Texas: What Deep Bossier, Travis Peak, Cotton Valley Can Do
Russell Porter, Chairman, President & CEO, Gastar Exploration Ltd.
Afternoon Keynote - Introduction by Nissa Darbonne, Executive Editor, Oil and Gas Investor
"Natural Gas for Motor Vehicles"
Andrew J. Littlefair, President and CEO, Clean Energy Fuels Corporation
Clean Energy Fuels Corp. is the leading provider of natural gas for transportation in North America. It has a broad customer base in the refuse, transit, ports, shuttle, taxi, trucking, airport and municipal fleet markets, fueling more than 14,000 vehicles daily at over 170 strategic locations across the U.S. and Canada.
Technology: Driving Costs Down & Total Recoverable Resources Up
This panel addresses the unique challenges that companies will have to overcome as these unconventional plays.
Moderator: Bill Pike, Ph.D., Editor-in-Chief, E&P Magazine
- How Technology Is Opening Up Production
Bill Coates, President-Oilfield Services North America, Schlumberger - Unconventional Solutions for Unconventional Assets
Marc Edwards, Global Vice President of Production Enhancement, Halliburton - Realistic Economics When Stimulating Emerging Shale Plays
David Gallagher, Vice President, CARBO Ceramics Inc. - Research Partnership to Secure Energy for America
Mike Ming, Research Partnership to Secure Energy for America (RPSEA)
Advancements in Proven Shale Plays
Our speakers address consolidation in the Barnett and other mature shales, bringing the Fayetteville into sales; and the public's view of shale activity.
Moderator: Leslie Haines, Editor-in-Chief, Oil and Gas Investor
- Bringing the Fayetteville Into Sales: Takeaway Improvements
Steven L. Mueller, President and COO, Southwestern Energy Company - Barnett: Urban Drilling for Shale
Chip Johnson, President and CEO, Carrizo Oil & Gas, Inc. - Public Perception of Shale Plays
Dr. Gene Theodori, Department of Sociology, Sam Houston State University
Wednesday, April 8, 2009 - Conference Continued
International Unconventional Gas Opportunities Presentation and Continental Breakfast
Pete Stark, Vice President of Industry Relations, IHS
This presentation will identify both existing and potential unconventional-gas plays abroad. Further discussion will focus on resource sizes and technologies required to develop the varying types of international unconventional-gas plays efficiently.
Welcome and Opening Remarks - Leslie Haines, Editor-in-Chief, Oil and Gas Investor
John H. Pinkerton, Chairman and CEO, Range Resources Corporation
Range Resources expects to nearly triple its gas production in the Marcellus shale in 2009, now that the infrastructure has been enhanced. Here, the CEO shares lessons learned from the company's Barnett shale success, and thoughts about shale opportunities in the Appalachian Basin.
The Marcellus Shale: Enormous and Complicated
Operators and geologists share their takes on this immense play. What is the resource potential and where are the prime areas for development? How does the Marcellus vary across its broad extent from New York through Pennsylvania and into West Virginia?
Moderator: Nissa Darbonne, Executive Editor, Oil and Gas Investor
- Where Has All the Gas Come From: Thermogenic Gas Generation
Jackie Reed, GeoMark Research Ltd. and Jackie Reed Geochemical Consulting - Marcellus Here, Marcellus There: The Appalachian Shale's Geology State-to-State
Katherine Lee Avary, West Virginia Geological Survey - From the Rig Floor: How Operators See This Unfolding
Mike Walen, SVP and COO, Cabot Oil & Gas Corp.
The Haynesville Shale: The Best Is Yet to Come
This shale grabs all the headlines because it may end up surpassing the Barnett's production, but first, what do operators and investors need to know to maximize its huge potential? Why are JVs needed here? How does the industry handle high-pressure horizontal hurdles? Will there be enough pipeline capacity?
Moderator: Peggy Williams, Sr. Exploration Editor, Oil and Gas Investor
- The Haynesville: Where It Is and What It Is
Kevin A. Ferworn, Vice President, GeoMarkResearch Ltd. - Equipment and Service and Supply Issues In a New Play
David A. Pursell, Managing Director, Head of Macro Research, Tudor, Pickering Holt & Co. LLC - The Race to HBP: Drilling Through A Low Gas Price
Robert C. Turnham Jr., President and COO, Goodrich Petroleum Corp. - Why the Haynesville Will Be the Last Field Standing
Ken L. Kenworthy Jr., President, CEO & Chairman, GMX Resources, Inc.
Luncheon and Afternoon Keynote
Richard Stoneburner, EVP and Chief Operating Officer, Petrohawk Energy Corporation
With strong positions in the Haynesville and Fayetteville shales and a market-leading position in the emerging Eagle Ford shale, a solid hedge position and strong liquidity, Petrohawk Energy is poised for growth in 2009. Here, COO Stoneburner shares Petrohawk's outlook for the coming year.
Opportunities and Challenges In Emerging North American Shales
Take a tour of the new shales that will attract attention this year and next: from South Texas' Pearsall/Eagle Ford to Western Canadian Shale, the unconventional opportunities are terrific.
Moderator: Leslie Haines, Editor-in-Chief, Oil and Gas Investor
- Early Results from the Chattanooga Shale
Randall M. Albert, SVP-Emerging Business Units, CNX Gas Corporation - Initial Expectations from New York & Quebec's Utica Shale
Dan Billman, Billman Geologic Consultants, Inc. in coordination with NY State Energy Research and Development Authority - B.C.'s Horn River Basin Muskwa: Western Canadian Shale
Mike Dawson, President, Canadian Society for Unconventional Gas
Out-takes: Hart's Expert Editors Discuss their Findings During DUG 2009
Oil and Gas Investor and E&P editors Leslie Haines, Bill Pike, Nissa Darbonne, Peggy Williams and Steve Toon discuss information they learned while at the presenter's table and from the halls of the conference, as well as their own observations on the economic and technical hurdles for developing unconventional gas.
