A&D Strategies and Opportunities
September 3-4, 2014
Dallas, Texas
The Ritz Carlton Hotel
Register Featured Sponsors
Steptoe & JohnsonEnergy NetRBC Capital MarketsCredit AgricoleHolland ServicesEnCap InvestmentsTudor Pickering HoltNetherland, Sewell & Associates (NSAI)American Energy PartnersUS Energy Dev. Corp.Oil & Gas Asset Clearinghouse
Executive AirShareTempus Aircraft Sales and ServicesPandellSFC Energy PartnersLantana Energy AdvisorsMeagher Energy AdvisorsPorter HedgesEnergy SpectrumKayne Anderson Energy FundsCessnaCredit Suisse Securities LLCStonebridgeThe Carlyle GroupPetroleum StrategiesOpportune LLPRaymond James - albrecht
Hosted By
A&D Unconventional Oil & Gas CenterOil and Gas Investor

Past A&D Strategies Conferences

2011 A&D Strategies and Opportunities Show Report

2011 Workshop

August 29, 2011

Upstream A&D Today: An Overview of the Current Upstream Market, and What is Motivating Buyers and Sellers Today
Learn about current leading types of transactions, buyers, sellers and recent trends affecting both buyer and seller motivations. What types of transactions will they do and at what price?

  • Ken Olive, Chairman and CEO, The Oil & Gas Asset Clearinghouse

The Reserve Report: Unconventional Gas vs. Unconventional Oil
Shale plays are the hot ticket, but various factors influencing well recoveries and economics come into play when making forward-looking buying decisions. Can you make money drilling wells on the target assets? Here you will learn early reserve estimates for U.S. unconventional plays and how that impacts valuation.

  • Lance Binder, Executive Vice President, Netherland Sewell & Associates Inc.

Roundtable Discussion - Screening Packages: Evaluations and Valuations
As asset-marketing firms, corporate brokers, Internet services, and other vendors of upstream properties and companies promote packages to business-development professionals, how do you effectively filter which ones meet your criteria? With so many choices and finite time, which ones are worthy of the chase? And how do you determine value?

  • Daniel C. Herz, Senior Vice President, Corporate Development & Strategy, Atlas Energy LP

  • David Beathard, Vice President, Business Development, Linn Energy, LLC

  • Doug Krenek, President & CEO, Chalker Energy Partners

Effective Negotiating: Creating the Best Deal
The perfect acquisition is a combination of a great-fitting asset and reasonably attractive deal terms. Purchase price and other terms of the deal can make all the difference between a good buy and a bad one. Here, learn the nuances of negotiating terms that position you to win.

  • Scott Potter, Director, West Coast Region, Baker Communications Instructor, Negotiations Training Institute

Roundtable Discussion - Financing the Deal: Types of Funding Sources
You have the acquisition in mind. Which type of financing is best, considering the types of assets you are acquiring, tax implications and concerns with leverage? These are issues the financial team will take into consideration when working with you on a bid price and structure—and taking you to a successful close.

  • Jim McBride, Head of Investment Banking, Capital One Southcoast

  • R. Jason McMahon, Partner, EnCap Investments LP

  • Brock Hudson, Senior Vice President, Energy/Capital Markets, Amegy Bank NA

Due Diligence and Closing: The Final Challenge
The many steps of a BD team’s role in an acquisition are nearly done once the definitive agreement is signed and closing is approaching. But land and legal are fast at work at discovery and confirming the nature of the assets. Here is what you need to know to put your new assets in the bank.

Let’s Make A Deal Lab I: Analyzing and Negotiating the Deal
Participants form teams and negotiate on a competitive deal in a simulated data room based on real packages. You will compete as either a buyer or seller against other teams eager to buy and sell assets.

Let’s Make A Deal Lab II: Bid Discussion and Results
May the best offer—and successful seller—win! Deal results will be announced and teams will discuss how they reached their conclusions.

Roundtable Discussion - Tips, Tricks and Traps: Advice from the Pros
Veterans in the BD space share their wisdom on pitfalls in deal making and how to work through to a successful transaction. Here, learn from them in an informal roundtable Q&A discussion.

  • John D. Jacobi, Vice President of Business Development, EXCO Resources Inc.

  • Jerry Windlinger, Vice President U.S. Business Development, Anadarko Petroleum Corp.

  • Doug Krenek, President, Chalker Energy Partners

2011 Conference

August 30, 2011

Opening Keynote: Global Energy Capital and Oil & Gas Markets

  • Bobby Tudor, Chairman & CEO, Tudor, Pickering, Holt & Co. LLC

Panel & Roundtable: The Metrics & Drivers--What Assets Cost
Oil is hot and gas is not. How do the transaction metrics compare? Would you get more value from a joint venture or a sale? A drilling trust? Maybe even drilling-trust some of your JV acreage? While deal-making has been robust, are traditional asset packages sidelined? What is driving valuations on deals—acreage or production? Unconventional-resource plays—both new, liquids packages and old, dry-gas ones—are reshaping the marketplace.

Cost & Competition For High-PDP (80%) vs. Low-PDP (20%) Plays
MLPs, traditional E&PS and start-up E&Ps are competing in datarooms for high-PDP packages, including even unconventional that are coming onto the market, such as the Barnett and Fayetteville. What do these cost today and what types of E&Ps are able to place the highest offers?

JV Rewards: The Latest Deal Terms, Play By Play
The JV method of raising drilling capital to hold acreage while freeing cash flow and keeping debt in check continues to be an accessible path for U.S. acreage-holders. What are the latest deal terms and in what plays, and who are the potential partners? How is the infusion of majors and foreign buyers into the U.S. marketplace affecting cost of entry for independents?

  • Bill Marko, Managing Director, Jefferies & Co. Inc.

Conventional v. Unconventional: Cost Of Entry, Lease Renewal, Lease Expansion
Conventional assets are gaining great attention again, as most of these are HBP and may be prospective for new horizontal targets. Meanwhile, unconventional assets—both HBP, such as in the Barnett, Fayetteville, Haynesville, Woodford, Eagle Ford and Permian, as well as primarily acreage-only, such as in the Bakken, Marcellus and Niobrara—continue to captivate U.S. and global buyers. What’s it cost to enter these, to renew leases and expand?

  • Ward Polzin, Managing Director and Head, A&D, Tudor, Pickering, Holt & Co. Securities Inc.

Cash Or Stock: The Latest Dynamics In Financing The Deal
Most purchases today are being done with cash, as both major and independent oil companies have strong access to debt and equity markets. Meanwhile, some are for stock, such as in the Plains/McMoRan deal in the new-regulation-stricken Gulf of Mexico. What are the unique dynamics driving the “cash v. stock” question today? And, what is the impact of financial buyers, such as KKR's investment in Hilcorp South Texas?

Spotlight: The New, ‘Old’ U.S. Oil Plays—Where Are They?
The next emerging play might be a familiar name, such as Mississippi Lime. Horizontal technology and multi-stage fracing are making old vertical plays new again. Where are these conventional formations that are ripe for horizontal surfacing? What forgotten formation might lie beneath your HBP?

  • Michael D. Bodino, Head of Energy Research & Senior E&P Analyst, Global Hunter Securities, LLC - Presentation Not Available

Panel & Roundtable: The Money—What Deals Capital Sources Will Fund Today
Accessing acquisition funds can range from the simple bank loan to the complicated SPAC, depending on your business model and changing costs of capital. Find out what capital is most available and least expensive today and what it will take to tap it. Also, discover how competitors’ access to this capital affects the prices being offered for the assets you seek.

The U.S. Drilling Trust and the New Canadian Royalty Trust
U.S.-based E&Ps, such as Energy Corporation of America and SandRidge Energy Inc., are accessing the royalty-trust method of raising drilling capital. And, Canadian E&Ps are capitalizing on a distinct royalty-trust tax favoritism by buying and developing U.S. properties. What’s the cost of capital and upside for a U.S. trust model and what cost-structure advantages does a Canadian trust have in the U.S. property market?

  • Chip Van Os, Managing Director-Investment Banking, E&P, Raymond James & Associates - Presentation Not Available

Private Equity, Big and Small
Energy private-equity remains fully loaded to invest in E&P, both big and small. Some funding is for start-ups; some is for partnership in existing assets, such as KKR’s investment in Hilcorp’s South Texas portfolio. Which firms continue to seek to fund good stories?

The JVs: What's Next
International oil companies have swept onto the scene and flooded the shale plays with billions in capital for partial interests. Have we seen the last of the mega-JVs? Will horizontal conventional plays become targets? Will foreign companies engage in smaller deals with smaller operators?

  • Randy King, Managing Director, BofA Merrill Lynch

Energy Lenders’ Price Decks
Lenders were in disarray after September 2008. Which are still standing, which never stumbled and what are some new names ready to lead or join the syndicate? And, what are their price decks?

  • Jon Goddard, Senior Vice President, A&D, Global Oil & Gas Group, Macquarie Tristone, Macquarie Capital (USA) Inc.

A&D Achievement Award and Roundtable Discussion
A&D Watch and Oil and Gas Investor present this lifetime achievement award to a legendary A&D dealmaker.

  • Award winner: Jack Randall and Ken Dewey

Panel & Roundtable Discussion: The Gas Glut & The Liquids-Rich Rush
Natural gas is down, thus buying opportunity abounds, but few of these packages are coming onto the market. Oil is in, but owners are holding onto these too, especially now that acreage may be prospective for tackling other formations horizontally. Many producers are taking the organic path to enter new oil plays. Who wants gas, either conventional or unconventional today—and why? And, are liquids-rich property valuations getting too pricey?

Oil v. Gas: The Bid/Ask Spread
Where are buyer and seller expectations meeting in terms of price for oil-producing properties? For gas-producing properties? And where are seller expectations being exceeded? Here are the details, developed from an analysis of hundreds of transactions, and what to expect when bidding.

  • Ken Olive, Chairman and CEO, The Oil & Gas Asset Clearinghouse

Buy Gas Now
Contrarian buyers are seeking natural gas properties—both conventional and unconventional—in this depressed gas-price market. And, they’re able to bank their buys at today’s strip too. How?

  • Sylvia Barnes, Managing Directors, Head of Energy Banking, Madison Williams and Co.

Need a JV to HBP? Lease Expirations on the Horizon, Play by Play
Initial-term lease expirations are approaching in the Marcellus and Eagle Ford, while newer plays—such as the Niobrara and Utica—are under less pressure. Here, an analysis shows where operators may be open to a JV to secure their acreage before expiration, where operators may be under pressure to sell and where competitors in a play may be able to consolidate.

  • Ramona K. Hovey, Senior Vice President, Analysis and Consulting, DrillingInfo Inc.

Panel & Roundtable Discussion: Field Reports—How These Producers Are Turning Purchases Into Profit
Executives behind some of the top M&A headlines of the past year describe how their targets fit their strategy and how they’re generating a greater return on investment.

  • Jack Harper, Senior Vice President and Chief of Staff, Concho Resources Inc. - Presentation Not Available

  • Lisa Stewart, CEO, Sheridan Production Partners

  • Alan Smith, Chief Executive Officer, Quantum Resources

Spotlight: Defining the Exit Window

  • David Marcell, Managing Director, A&D Group, BNP Paribas

Roundtable Discussion: The Masters—Their Favorite Deals, The Ones That Got Away, And The Ones They’re Glad Got Away
These sage A&D dealmakers tell tales from both sides of major purchases and divestments, how they got it right, how they made them right, and how they knew which ones were wrong.

  • Charles C. Stephenson Jr., Co-founder and Chairman, Premier Natural Resources LLC - Presentation Not Available

  • Ted Collins, Chairman and CEO, Patriot Resources Partners LLC and Co-Founder, Collins & Ware Inc. - Presentation Not Available

  • Forrest Hoglund, Chairman & CEO, SeaOne Maritime Corp.; formerly, Chairman, EOG Resources Inc. - Presentation Not Available

The Deal Bunker: A&D Strategy and Opportunities Conference's 10th Anniversary Champagne Networking Reception
We’re celebrating 10 big years as the industry’s leading and longest-lasting conference bringing upstream A&D professionals together to talk trends, strategies and deal making. Plan to stay on and join us for champagne and cigars as we cut the cake on the beginning of another 10 years of bringing deal makers together.

2010 Workshop

September 1, 2010

Upstream A&D Today: An Overview of the Current Upstream Market, and What is Motivating Buyers and Sellers Today
Learn about the leading types of transactions; types of buyers; types of sellers; and recent trends affecting both buyer and seller motivations. What types of transactions will they do and at what price?

  • Ken Olive, President, Oil & Gas Asset Clearinghouse

Developing the Contacts: Effective Networking
Acquisition opportunities in a competitive marketplace are increasingly discovered by networking via one-on-one calls and through networking groups, conferences and social outings. Here, learn about when they meet, what to expect, what to say and what not to say.

The Reserve Report: Gaining Confidence in the Numbers
There can be a multitude of differences in third-party reports, the seller's report and an agent's report—and your own assessment of potential reserves. How does one gain confidence in the numbers?

  • Lance Binder, Executive Vice President, Netherland, Sewell & Associates

Screening Prospects: Evaluations and Valuations
Asset-marketing firms, corporate brokers, Internet services, and other vendors of upstream properties and companies actively promote their clients' packages to business-development professionals. Plus, there are those learned of on the street. Which ones are worthy of the chase? And how do you determine value?

  • Steve Herod, Executive Vice President, Corporate Development, Petrohawk Energy Corp. - Presentation not available.

Effective Negotiating: Creating the Best Deal
The perfect acquisition is a combination of a great-fitting asset and reasonably attractive deal terms. Purchase price and other terms of the deal can make all the difference between a good buy and a bad one.

  • Ron Barnes, Senior Vice President, Oil & Gas Asset Clearinghouse

Financing the Deal: Types of Funding Sources
You have the acquisition in mind. Which type of financing is best, considering the types of assets you are acquiring, tax implications and concerns with leverage? These are issues the financial team will take into consideration when working with you on a bid price and structure—and taking you to a successful close.

  • Paul Beck, Executive Director, Macquarie Energy Capital

Let’s Make A Deal Lab I: Analyzing and Negotiating the Deal
Participants form buyer’s teams and negotiate on a competitive deal in a simulated data room based on real packages. Your team will evaluate the property and formulate an offer to approximate as closely as possible the actual winning bid.

Let’s Make a Deal” Lab II: Negotiating the Deal, Plus Deal Results
May the best offer win! Negotiate final deal terms in a competitive environment, and don’t be surprised if a deal buster is thrown into the process. Bids will be revealed and critiqued to show how the winner was chosen.

Let’s Make A Deal Lab: Bid Discussion and Results

Tips, Tricks and Traps: Advice from the Pros
Veterans in the BD space share their wisdom on pitfalls in deal making and how to work through to a successful transaction. Here, learn from them in a roundtable Q&A discussion.

  • Steve Herod, Executive Vice President, Corporate Development, Petrohawk Energy Corp. - Presentation not available

  • Curtis Newstrom, VP New Ventures, Midstates Petroleum Company LLC - Presentation not available

  • Leah Smith, Director, Exploration New Ventures Acquisitions, Hess Corporation - Presentation not available

2010 Conference

September 2, 2010

Buyers and sellers of oil and gas interests have regained confidence following a year of economic uncertainty and malaise. A&D deal flow is becoming robust once again. However, the playing field changed during the financial rainout. Fervored competition for oil-weighted and liquids-rich assets now leads to premium prices. Gas-focused producers are high-grading their portfolios and staking positions in low-cost resource plays. Hear from the players, advisors and analysts on strategic dealmaking in this evolving marketplace.

Opening Keynote: Oil and Gas Price-Trend Forecasts

  • Tom Petrie, Vice Chairman, Bank of America, Merrill Lynch

Dealmaker Spotlight: Building Companies, Contrasting Styles
Two well-known acquirers are back in the game, growing companies from the ground up—but with differing strategies. One is piecing together small unconventional buys in the shales. The other is seeking conventional legacy assets and recently tripled the company’s reserves with a $900-million deal. Here they reveal their buying strategies.

  • Gary Evans, Chairman of the Board and CEO, Magnum Hunter Resources Corporation

  • Mark Castiglione, Vice President-Business Development, Quantum Resources Management LLC - Presentation not available

The A&D Marketplace: Buyer & Seller Opportunities
Competition for assets continues to grow, especially as gas-weighted producers push to bulk up on oil and liquids, and others seek high ground in unconventional gas plays. What are the current market dynamics affecting A&D opportunities today, and what are the hidden opportunities?

  • Metrics & Drivers: What Assets Cost Today and What is in DemandScott Richardson, Co-founding Principal, RBC Richardson Barr

Growing the Oil Weighting: Asset Availability and New Horizontal Plays

  • Sylvia Barnes, Managing Director-Head of Energy Investment Banking, Madison Williams & Co.

JV Mania: How Joint Ventures Are Changing the Face of M&A

Eagle Ford Explosion: Update on Acquisition Activity

  • Christopher Simon, Managing Director - Energy Investment Banking, Head of Asset Acquisitions & Divestitures, Raymond James & Associates, Inc.

Dealmaker Spotlight: Marcellus
Billion-dollar joint ventures and corporate acquisitions are on the marquee in this enormous play. Private-equity backed players, national oil companies and majors alike are bringing new attention to Pennsylvania and other states in the Appalachian region.

  • Brian Begley, Vice President - Investor Relations, Atlas Energy, Inc.

Presentation of Oil and Gas Investor's Excellence Award for M&A Deal of the Year

Deal Talk: A Chat With Bill Colton and Vaughn Vennerberg
Bill Colton and Vaughn Vennerberg share their unique insights on the Deal of the Year, and what the acquisition suggests about the long-term future of natural gas.

  • Bill Colton, Vice President - Corporate Strategic Planning, ExxonMobil Corporation

  • Vaughn Vennerberg, former president, XTO Energy Inc.

More Arrows in Your Quiver: A Financing Toolkit
Which financial tools make the most sense when buying into shale plays, and which make sense in conventional plays? Now that the window to capital markets is open again, buyers and sellers need to know their options for effective deal closings.

Private-Equity Availability: Where are They Investing and What is Their New Exit Strategy?

Public Capital Markets: Who’s In, Who’s Out, and at What Cost?

  • Mike Ames, Managing Director-Investment Banking Exploration & Production, Raymond James and Associates

Sell Without Selling: Crafting a JV to Meet Sellers & Buyers Needs

  • Ward Polzin, Managing Director-Investment Banking, Tudor Pickering

Dealmaker Spotlight: Seeking Oil
Oil is the commodity of choice today, so more asset buyers are seeking oily properties to boost their portfolio. From the Bakken to the Permian, deal flow is robust.

Boom or Bust? Dealmaking Challenges and Opportunities
Even as M&A rebounds from a year ago, certain obstacles remain in the operating environment that could either stifle deal making, or add to the deal flow for opportunistic acquirers.

Spilled Deals: What is the Future of Gulf of Mexico Dealmaking, and Will Offshore Explorers Move Onshore?

Your Time is Up: Will Pending Lease Expirations Expose Shale Acreage to the Market?

  • Ramona Hovey, Sr. Vice President-Products and Services, DrillingInfo

Dealmaker Spotlight: The Contrarians
While the market is consuming oil assets and shale plays and driving up valuations, some buyers see opportunity in stockpiling out-of-favor and largely forgotten assets—conventional gas.

  • Mark Houser, Chief Operating Officer, EnerVest Ltd. and President, EV Energy Partners LP

Closing Keynote: KKR Deals in North America Gas Plays

  • John Bookout, Managing Director and Member of KKR Energy Infrastructure Team, KKR