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Developments with unconventionals


Understanding the unconventionals opportunity in Europe
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Neil McMahon & Ben Dell
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» Kimmeridge Energy
Per Magnus Nysveen
» Senior Partner and Head of Analysis
» Rystad Energy

Full Agenda

Wednesday, October 10, 2012
London
The Geological Society

Our industry has developed the technical capacity to move away from conventional reservoirs – whether sandstone or carbonate – with good porosity/permeability characteristics, and extract petroleum wherever it is ‘reservoired’ – whether still in the source rock, in ‘tight’ sands, in fractured basement and so on. The North American industry is leading this charge.

So if ‘conventional resources’ are defined as light oil or ‘clean’ gas in good poroperm sandstone or carbonate reservoirs, what do we refer to as ‘unconventional resources’ at the moment?

We can think about ‘unconventional hydrocarbons’: examples would include ‘heavy’ oil, ‘sour’ gas, ‘waxy’ crude, or about ‘unconventional reservoirs’: examples would include fractured ‘basement’, ‘tight’ sandstones, shales, coal beds, hydrates – in fact anything other than good poroperm sandstones or carbonates.

The only one of these resources for which the development technology is not yet proven is gas hydrates. The rest – whether shale gas, shale oil, ‘heavy’ oil, ‘waxy’ crude, coal bed methane, ‘tight’ gas – are all amenable to known, proven technologies, available in a competitive market.

What varies at the moment are the economics of exploitation. Thus, and for example, much shale gas in the USA is non-commercial at current prices; indeed, one could take the view that the best cash flow from shale gas has in fact come to oil field service companies that supply Fracturing/Stimulation, Horizontal Drilling or 3D/4D Seismic and to the US ‘resource play’ companies that have sold or farmed-down their shale gas assets.

Thus many ‘resource players’ are switching to shale oil, or are looking internationally for gas opportunities.

Putting North America to one side, the critical question is: where are the best international opportunities for investments in ‘unconventionals’?

Agenda

 
9:00 Arrivals and Registration. Tea & Coffeee
9:30 David Bamford -
New Eyes Exploration

Welcome & Introduction - Below ground, "we have the technology!"


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David Bamford is well known around the oil & gas industry both as an explorer and a geophysicist. He holds a Physics degree from the University of Bristol and a Ph.D in Geological Sciences from the University of Birmingham.

Since 2004, he has been a non-executive director at Tullow Oil plc, being recruited for this position especially for his exploration knowledge. He serves on the Nominations and Remuneration Committees, and was chairman of the latter, and Senior Independent Director, for 3 years prior to his retire from the board at the end of April 2014.

He was on the board of Premier Oil from May 2014 to May 2016.

He retired from BP plc in 2003, his last four positions being Chief Geophysicist (1990-1995), Business Unit Leader (General Manager) for first West Africa and then Norway (1995-1999), and finally Head of Exploration until 2003.

He has served on the boards of Paras Ltd, a small exploration and IS/IT consulting company in which he held 22% equity, until its sale to RPS Energy in 2008 and Welltec a/s, a Danish well engineering company, as the nominee of the private equity investor Riverside.
From 2012 to 201 he was on the board of ASX-quoted Australia Oriental Energy as a non-executive director.

He was a founder of Richmond Energy Partners, a small oil & gas research house, and several media companies that focus on the oil & gas sector, and has served as an advisor to Alliance Bernstein, Opus Executive, the Parkmead Group plc, and Kimmeridge Energy LLP. Since retiring from BP, he has undertaken asset and company valuation projects for investment banks, hedge funds and small oil companies.

New Eyes Exploration
New Eyes Exploration, founded by David Bamford, explores new ways to discover Oil and Gas.
More...
9:50 Robert West - Research Associate
Sanford C. Bernstein

The significance of Unconventionals in the global picture


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Helping you build and preserve your wealth through the decades with investment research, financial p
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10:25 Neil McMahon & Ben Dell -
Kimmeridge Energy

Defining the core of shale plays


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Founded in 2012, Kimmeridge Energy invests directly in unconventional oil and gas projects and asset
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11:00 Tea & Coffee
11:30 Manas Koley - Senior Geologist
Schlumberger

Exploitation of shale gas/oil - a journey from the US to Europe


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Schlumberger is the leading oilfield services provider, trusted to deliver superior results and impr
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12:05 Per Magnus Nysveen - Senior Partner and Head of Analysis
Rystad Energy

A long term global forecast for the extraction of oil and gas from shale formations


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Per Magnus joined Rystad Energy in 2004 and is leading the analysis team. He has particular expertise as an upstream portfolio and transaction advisor as well as wide experience with financial and fiscal regimes globally. He is also responsible for evaluation analysis of unconventional activities and is in charge of the North American Shale Quarterly Report. Per Magnus has developed comprehensive models for production profile estimations and financial modeling for oil and gas fields. He has 20 years of experience within risk management and financial analysis, primarily from DNV. In addition, he was responsible for risk assessment of the European Space Program, residing eight years in France and three years in South America. At DNV, Per Magnus had a pivotal role in various projects assessing offshore project risks and petroleum portfolios. He holds an M.Sc. degree from the Norwegian University of Science and Technology and an MBA from INSEAD in France.

Rystad Energy
Rystad Energy's Vision
"Transparency in the oil and gas business"

Who we are
Rystad
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12:40 David Bamford -
New Eyes Exploration

Above ground, there are "no hands on DECC"!


Watch Video     View PDF   
David Bamford is well known around the oil & gas industry both as an explorer and a geophysicist. He holds a Physics degree from the University of Bristol and a Ph.D in Geological Sciences from the University of Birmingham.

Since 2004, he has been a non-executive director at Tullow Oil plc, being recruited for this position especially for his exploration knowledge. He serves on the Nominations and Remuneration Committees, and was chairman of the latter, and Senior Independent Director, for 3 years prior to his retire from the board at the end of April 2014.

He was on the board of Premier Oil from May 2014 to May 2016.

He retired from BP plc in 2003, his last four positions being Chief Geophysicist (1990-1995), Business Unit Leader (General Manager) for first West Africa and then Norway (1995-1999), and finally Head of Exploration until 2003.

He has served on the boards of Paras Ltd, a small exploration and IS/IT consulting company in which he held 22% equity, until its sale to RPS Energy in 2008 and Welltec a/s, a Danish well engineering company, as the nominee of the private equity investor Riverside.
From 2012 to 201 he was on the board of ASX-quoted Australia Oriental Energy as a non-executive director.

He was a founder of Richmond Energy Partners, a small oil & gas research house, and several media companies that focus on the oil & gas sector, and has served as an advisor to Alliance Bernstein, Opus Executive, the Parkmead Group plc, and Kimmeridge Energy LLP. Since retiring from BP, he has undertaken asset and company valuation projects for investment banks, hedge funds and small oil companies.

New Eyes Exploration
New Eyes Exploration, founded by David Bamford, explores new ways to discover Oil and Gas.
More...
13:00 Raffle prize draw, followed by lunch & refreshments

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