| Wednesday, May 21, 2014 | |||
 7:45 am - 8:15 am | Registration | ||
| 8:15 am - 9:00 am | Breakfast Briefing Sponsored by Booz Allen Hamilton: Thriving in the Complex Unconventional Market As demand grows for unconventional resources, oil & gas companies are challenged to access these complex resources safely and economically. Whether you are managing a portfolio of prospects, discovers or productions, new challenges and risk exist across the lifecycle. With more capital investments going into the unconventional portfolio, a new field of risks needs to be mitigated to ensure success. Given the fast moving nature of the shale play, being able to identify, quantify and mitigate capital risks is more important than ever before. The security and integrity of the supply chain is fluid in this new arena. There are cyber risks as well as many environmental regulations that can bring production to a halt – reducing the return on investment. There is hope through the latest tools, analytics and techniques to keep investments productive. Moderated by: Herman Franssen, Executive Director, Energy Intelligence | ||
| 9:00 am - 9:10 am | Opening Remarks by FT and Energy Intelligence Ed Crooks, US Energy and Industry Editor, Financial Times Herman Franssen, Executive Director, Energy Intelligence | ||
| 9:10 am - 9:30 am | Keynote Address: The Future of Shale Energy in the Americas The Honorable Adam Sieminski, Administrator, US Energy Information Administration Moderated by: Ed Crooks, US Energy and Industry Editor, Financial Times | ||
| 9:30 am - 10:20 am | US Energy Independence: Vision and Reality Ever since the 1973 oil embargo, successive US governments have vowed to return the country to energy independence but neither market forces nor energy policies have significantly reduced US dependence on foreign oil -- until recently. Higher oil prices and the wide-scale application of new drilling technologies in recent years have rapidly increased US non-conventional oil and gas production, and the prospect of of net gas exports and a major reduction in oil imports has become a reality. There are, though, a number of constraints -- price, infrastructure, regulatory climate, environment, finance, and skilled labor among others -- that could prevent the goal of energy independence being achieved in the foreseeable future, and while the short-to-medium term supply of shale gas seems assured, there are doubts about the ability of the industry to sustain growth of tight oil production for the longer term.
Moderated by: Herman Franssen, Executive Director, Energy Intelligence
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| 10:20 am - 10:50 am | Keynote Interview: Moving Towards Self-Sufficiency: The US Oil and Natural Gas Outlook Timothy L. Dove, President and Chief Operating Officer, Pioneer Natural Resources Moderated by: Thomas Wallin, Editor-in-Chief, Energy Intelligence
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| 10:50 am - 11:20 am | Networking Break Sponsored by Trafigura | ||
| 11:10 am - 12:10 pm | Canadian and Mexican Oil and Natural Gas Development Prospects Canada has the potential to expand its oil sands production by one-third or more early into the next decade. Mexico’s Congress, meanwhile, has passed a bill to reduce the state’s monopoly rule in the petroleum sector, paving the way for foreign investment and a reversal of recent production declines. Both could add significantly to new supply and bolster the case for North American self-sufficiency. The Canadian oil sands reserves and resource base is huge but, there are many impediments to production expansion largely related to logistical, regulatory, environmental and political issues. How sensitive is oil sands production expansion to global oil price changes? Can Canadian oil sands producers overcome opposition from environmental rights groups? Does Canada have export options other than the US in the medium term? How long will it take for Mexico to first stabilize and then increase production and exports of crude oil? Will Canadian shale gas be able to compete with US gas? Derek Mathieson, Vice President, Strategy and Corporate Development, Baker Hughes Moderated by: Ed Crooks, US Energy and Industry Editor, Financial Times
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| 12:00 pm - 1:10 pm | Midstream and Downstream Challenges North American energy independence is creating major challenges in the
infrastructure to move oil to refiners and port facilities by way of pipelines,
railroad and trucks. Tight oil and oil sands have been significantly discounted
at the wellhead due to the inability to solve infrastructure bottlenecks. Over
and above changes in the oil product demand structure in North America
caused by price changes and energy policies, volumetric and quality changes
in the upstream have changed refinery economics in the country. Coping with
midstream and downstream challenges will be essential for the efficient and
profitable running of US and Canadian refineries. As for shale gas, the lack of
infrastructure has sharply increased gas flaring in parts of the US. How can
these challenges be addressed? Will the construction of pipelines and rail cars
to carry oil and gas from the wellhead to refiners and consumers be able to
keep up with upstream developments? How can the industry cope with the
mismatch of crude oil quality and ability of refiners to turn the oil into products?
Will midstream and downstream constraints lead to a review of US policy on
crude oil exports?
Moderated by: Barbara Shook, Senior Reporter and Analyst, Energy Intelligence
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| 1:10 pm - 2:20 pm | Lunch | ||
| 2:20 pm - 3:20 pm | Financing Oil and Gas along the Supply Chain Massive investments are required for the development of upstream, midstream and downstream projects in the years ahead to finance the expansion of North America’s oil and gas industry. Financing is readily available today, but what are the potential risks to the supply of capital? Will rising interest rates threaten the industry's growth? The independent oil and gas producers that have led the shale revolution still have capital expenditures running well ahead of their free cash flows. How will they be able to make the investments they need? How can the use of derivatives help reduce costs and risk? How great a role can MLPs play in attracting investors? And mergers and acquisition activity slowed sharply last year. How likely is it that we will see a pick-up in deal-making, and how important is it to the health of the industry?
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| 3:20 pm - 4:10 pm | Environmental Challenges to Rapid Oil and Gas Production Growth in North America Unprecedented expansion of non-conventional oil and gas in North America
will be accompanied by challenges to local environments. Tight oil and shale
gas require the use of large volumes of water and chemicals in the extraction
process, and air, water and noise pollution can be the unpalatable result of
large-scale development. Since much of that development is taking place on
private lands, the influence of Federal authorities is limited. In contrast,
the role of local and State authorities is significant in regulating drilling
and land use. How will industry and local/State governments work together to
mitigate the intrusive nature of large scale development of non-conventional
oil and gas resources? Will the projected vast expansion of drilling activity
and infrastructure development for shale gas and tight oil result in more
regulations at all levels? Will environmentalists in the US and Canada be able
to accept a doubling of oil sands production and exports to the United States? Moderated by: David Pike, Editor, EI New Energy, Energy Intelligence
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| 4:10 pm - 4:30 pm | Networking Break | ||
| 4:30 pm - 5:30 pm | Geopolitical and Market Impact of American Oil and Gas Declining US light oil imports from North and West Africa are already having an adverse impact on volumes and the price of light oil exports from those regions to the United States. Additional tight oil production, increased deep water oil production from the Gulf of Mexico, and major imports of Canadian oil sands if a key pipeline project is approved will further impact US demand for OPEC as well as non-OPEC oil. As for natural gas, growing self-sufficiency in the US has freed up LNG from Qatar and West Africa for Asia and Europe, enabling Qatar to meet rising demand for LNG in post-Fukushima Japan and adding to the competitiveness of European gas markets. On the geopolitical front, moreover, there is a growing sentiment among the American public that US presence in the Middle East should be reduced if the US is no longer dependent on oil import .
Moderated by: Ed Crooks, US Energy and Industry Editor, Financial Times
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| 5:30 pm - 5:35 pm | Closing Remarks | ||
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