A&D Strategies and Opportunities
September 9-10, 2015
Dallas, Texas
The Ritz-Carlton Hotel
Register Featured Sponsors
Tudor Pickering HoltCredit AgricoleEnergy NetOil & Gas Asset ClearinghouseKayne Anderson Energy FundsNetherland, Sewell & Associates (NSAI)US Energy Dev. Corp.Meagher Energy AdvisorsJefferiesEnCap Investments
Textron AviationSteptoe & JohnsonThe Carlyle GroupRiley ExplorationEnergy SpectrumLantana Energy AdvisorsRaymond JamesTGSPetroleum StrategiesPorter Hedges
Hosted By
A&D Unconventional Oil & Gas CenterOil and Gas Investor

Conference Agenda

Thursday, September 10

7:30 am

Registration, Breakfast and Networking

8:30 am

Welcome & Opening Remarks

8:35 am

Opening Keynote: What Is Thy Bidding?

E&Ps cut fast and deep in 2015, shaving $20 off the per barrel price to be cash flow neutral at $72. But it wasn't enough. Companies will either cut back more, or sell. The bid-ask spread remains wide but what are the signs that mid- and small-cap producers have reached their pain tolerance?

9:00 am

Panel: Cash, Check Or Shares?

Sponsored by:

Every M&A cycle is different. In this one, stock purchases are being used, but they carry this sting of dilution. Vanguard Natural Resources, for instance, plans to buy out fellow MLP LRR Energy LP in a $540 million deal that swapped MLP units. Royal Dutch Shell's acquisition of BG Group Plc for $70 billon was a stock deal worth nearly one-fifth of the company. Which way should public buyers and private sellers go as they approach deals and what are the alternatives?

9:40 am

The Dropdown

Sanchez Energy Corp. may have hit on the repeatable deal. In May, the company sold Eagle Ford Shale assets to an affiliate, enabling it to raise capital without borrowing or selling equity. [This may have a gas component at some point.]

  • G. Gleeson Van Riet, Sr. VP and CFO, Sanchez Energy

10:00 am

Networking Break

10:45 am

Panel: The Guns Of Equity

In a matter of weeks, E&Ps have raised $8 billion, giving many companies a lifeline that has staved off divestitures. But equity is also pumping up big MLPs such as LinnCo, which has $1 billion in firepower from private equity firm Quantum Energy Partners. What's a company to do with so much cheap money?

11:35 am

Spotlight: Play By Play – Acquisition Metrics Across The U.S.

A noted executive dissects the health of the nation's resource plays. Which are growing, which are reaching maturity and where are the opportunities?

12:00 pm

Networking Luncheon

1:00 pm

Deal Spotlight

Larry E. Lee is a founder of Ram Energy Resources, the company that later became Halcon Resources Corp. In April, Lee structured a deal that could eventually give him control of MLP New Source Energy Partners. Lee recently acquired more than $100 million of conventional, low-decline assets primarily in the Permian and Ark-La-Tex regions.

1:25 pm

Panel: Cash Equivalents

For companies in need of a shot of liquidity (or to make a transaction), is a dilutive transaction always the best solution? For small firms looking to expand (or merely survive), how is reserve-based lending changed from 2014? Many companies have also taken to refining debt through loans – what are fair terms and where are they heading?

2:10 pm

Panel: Good Deal Hunting

A recent study by a leading financial firm suggests a huge inventory of assets could go on the market – with 340 potential deals worth over $300 billion. While oil has been in a rut for months, if commodity prices begin a creep back toward the $70s, when should buyers shoot for deals instead steals?

2:45 pm

Networking Break

3:15 pm

Roundtable Discussion: Big Deal Or Big Money?

Sponsored by:

Every would-be buyer with cash – EOG, Oxy, Anadarko, Apache, Hess – is ready for a deal if the opportunity presents itself. What has the Shell-BG deal wrought and will patient buyers wait for small, noncore or distressed assets or take the plunge on something larger?

4:00 pm

Caution, A&D Ahead!

To paraphrase Walt Whitman, every CEO seems to be a noiseless, patient buyer. An industry leader talks about what a CEO keeps in the deal-making playbook in a downcycle and how deals from 2014 are still resonating in the market today.

4:30 pm

Conference Adjourns

Agenda content and timeline subject to change