2014 Houston, TX 29 31 October The Houstonian This is nothing like other natural gas, crude oil or NGL conferences! The course work is hands-on. In each module we’ll drill down on an 111 North Post Oak Lane Houston, Texas 77024 RBN discounted room rate of $219, based on availability Reservations (800) 231-2759 important aspect of the market, explain how it works, download a spreadsheet model and learn how to use it. You walk out the door with the how-to PowerPoints and the Excel models. No talking heads, no mind numbing speeches. Just practical, usable energy market fundamentals. 2015 Calgary, AB Canada March 30 01 Through April Calgary Telus Convention Centre 120 9 Ave SE, Calgary, AB T2G 0P3, Canada Hyatt Regency Calgary n n n New course content! Improved models! More locations! RBN discounted room rate of $259, based on availability Reservations (403) 717-1234 Houston Session: Wed, Oct. 29 – 8am-5pm (plus cocktail reception) Thu, Oct. 30 – 8am-5pm Fri, Oct. 31 – 8am-1pm Note: Since Friday is Halloween and some attendees may have to leave early we will video the Friday morning session and make it available to all attendees. Calgary Session: Mon, Mar. 30, 2015 – 8am-5pm (plus cocktail reception) Tue, Mar. 31, 2015 – 8am-5pm Wed, Apr. 1, 2015 – 8am-1pm RBN’s School of Energy has been reworked, restructured and reorganized to make the conference even better. There is more course content, updated for what is happening in the market right now. We have added new models, replaced some old models and enhanced them all. But even more important, we have increased the number of model labs from one to FOUR!! Each lab will step you through the model logic, how to input the data and how to interpret the results. You will work through cases that will test your knowledge on 1 how the models work. And we are branching out. Two School of Energy Remix sessions with the revised content and models have been scheduled – one in Houston, October 29-31, and the other in Calgary March 30-April 1. Both conferences will cover the same intense curriculum and will include a couple of guest speakers who bring special knowledge of the regional markets we’ll be covering. You will need to bring a laptop computer with a USB port, internet access and Microsoft Office 2007 or higher. Yes that means you will be downloading several RBN energy economic models and working with them in class. That’s what handson means. This is not a conference about networking. The breaks are short, and the work is demanding. You can hang out at the water cooler on your own time. You will have access to both the presentation slides and spreadsheet models used in the coursework in real-time. At the end of the course, you will walk away with all of these materials annotated with your own notes taken during the course. There will be math. But nothing beyond your basic spreadsheet formulas and functions. Same Great School of Energy Remixed: Two Locations to Choose from Houston Session Wednesday, Thursday and Friday October 29 – 31, 2014 The Houstonian Registration Fees (in US dollars): Early Bird before September 26th – $2,930 After September 26th $3,380 Calgary Session Monday, Tuesday and Wednesday March 30 – April 1, 2015 Calgary Telus Convention Centre Registration Fees (in US dollars): Early Bird before February 27th – $2,930 After February 27th $3,380 (Plus Canadian Tax) 2 Faculty 1 E. Russell “Rusty” Braziel – President, RBN Energy Previously with Bentek, Texaco (Chevron), Williams, Altra 3 2 Callie Mitchell – RBN Manager, Energy Research Previously with Mapco, Texaco, Williams 3 Sandy Fielden – RBN Managing Director, Energy Analytics Previously with Morningstar/ LIM, Fina (Total Fina Elf), and Allegro 4 Scott Potter – RBN Managing Director, Business Development Former energy trading manager Previously with Aquila, Texaco, Altra 5 Kelly Van Hull – RBN Manager, Energy Analytics Most recently with Bentek Energy Previously with a midstream company developing greenfield projects in the Williston Basin 6 Rick Smead– RBN Managing Director, Advisory Services Previously with Navigant, El Paso Pipeline Group, Colorado Interstate Gas Company 7 David Braziel – Director of Financial and Fundamental Analysis Previously with Direct Energy and Apache Corporation 4 5 6 7 Curriculum Welcome MODULE #1: Fundamentals The Shale Revolution and Drill Bit Hydrocarbons Marriage of Technologies - The Magic Dust of the Shale Revolution Market Overview – Natural Gas, NGLs, Crude Oil Transportation Capacity and Flows Price Differentials and Value Understanding Energy Fundamentals Models MODULE #4: Crude Oil Markets North America Crude Oil Market Overview Current Market – Supply and Demand Forecast Transporting Crude Oil – Pipe, Rail, Water Fundamentals of Refining Commercial Arrangements and Transactions Crude Oil Hubs and Basis Crude Oil Transportation, Rates and Regulation Netbacks Market Trends: Light, Medium & Heavy Demand MODULE #2: Production Condensate and Crude Exports Production Economics – The Basics LAB Model 4.1 – Netback Analysis Unconventional and Conventional Production Model 4.2 – Crack Spread The Link to Investment Returns and Price Model 4.3 – R efinery Crude Selection and Light Crude Impact on Capacity Well Cost, Production Rates, Decline Curves and Other Variables Production Economics and Forecasting All Shales are Not Created Equally The Market Impact of Shale Economics LAB Model 2.1 – Production Economics and Breakevens Model 2.2 – Production Forecasting – Ladder Method MODULE #5: Natural Gas Liquids Markets North America NGL Market Overview Current Market - Supply and Demand Forecast Transporting NGLs Gas Processing and Fractionation Commercial Arrangements and Transactions NGL Hubs and Basis MODULE #3: Natural Gas Markets NGL Transportation, Rates and Regulation Netbacks North America Natural Gas Market Overview Regional Product Imbalances; Price Impact Current Market – Supply and Demand Forecast NGL Exports Transporting Gas – Natural Gas Pipeline Projects LAB Model 5.1 – Frac Spread Natural Gas Hubs and Basis Natural Gas Transportation, Rates and Regulation Market Trends: Power, Industrial, Res/Comm. Natural Gas / LNG Exports Commercial Arrangements and Transactions Model 5.2 – Processing Economics Model 5.3 – E thane Rejection, the Regional Rejection Stack and Residue Gas Model 5.4 – P etrochemical Feedstock Selection – Calculations and Price Impact Netbacks LAB Model 3.1 – Netbacks, Net Forwards, Net Spreads MODULE #6: What It All Means Model 3.2 – Coal versus Natural Gas – Displacement Economics The Implications of Exports Model 3.3 – Estimating the Cost and Rates for Natural Gas Pipelines A New Energy Future Handicapping Forecasts