March 28, 2012


Description

Join the Business Development Study Group at the Four Seasons Hotel for our second meeting of the year. KeyBanc’s Sylvia Barnes will share her insight on natural gas prices – the components powering the storm and a forecast of what lies ahead.  She will be joined by Talos Energy’s Tim Duncan and HighMount’s Allen May, who will address how E&P operators plan to weather the storm.  The popular format of a Business & Social Networking hour, with complimentary Hors’ D’ Oeuvres and a cash bar, followed by an hour-long program, will begin at 5:00 pm in the Mezzanine.
 
Natural gas prices peaked at $13 in 2008 only to quickly collapse, briefly reaching a low of $3 in September 2009, before generally leveling out between $4 and $5/mmbtu. With futures consistently indicating a quick return to levels of $6, or higher, companies have invested enormous amounts of capital to acquire and develop newly discovered unconventional assets. Since July, that bubble has burst with NYMEX Spot reaching the low $2.20’s – IN JANUARY!  What are the drivers of this sudden downturn in prices? What is the supply side  interplay of storage levels, rig counts, lease expiries, capital commitments, expanding pipeline capacities and continuing technological advancements? When will demand arrive like the cavalry to soak up this excess supply? Through what mechanisms? Will exports play a significant role? Ms. Barnes will shed some light on the fundamentals behind this movement and provide us with her thoughts on the future.
 
With this stormy forecast, how are established and new growth E&P’s to chart a course through this challenging economic environment? Do their plans differ with scale, location, and age? Do they join the stampede to high liquid yield unconventional plays? Or batten down the hatches to sail through the cyclone while remaining dry gas focused. Are their contrarians who view this as an opportunity to acquire gas reserves “on the cheap”?
 
We welcome you to join us for this informative discussion, as well as the fellowship and networking of the popular Social Hour at 5:00 pm.

Featured Speakers

Speaker: Sylvia K. Barnes – Managing Director & Group Head– Oil & Gas Corporate & Investment Banking, KeyBanc
Speaker Sylvia K. Barnes – Managing Director & Group Head– Oil & Gas Corporate & Investment Banking, KeyBanc

 

Sylvia K. Barnes

Ms. Barnes joined KeyBanc Capital Markets as Head of Oil & Gas Investment and Corporate Banking in October 2011 with over 20 years of financial experience and a background in engineering.

Previously, Ms. Barnes was Head of Energy Investment Banking at …


 

Sylvia K. Barnes


Ms. Barnes joined KeyBanc Capital Markets as Head of Oil & Gas Investment and Corporate Banking in October 2011 with over 20 years of financial experience and a background in engineering.


Previously, Ms. Barnes was Head of Energy Investment Banking at Madison Williams. Prior to joining Madison Williams, Ms. Barnes served as Managing Director at Merrill Lynch &Co.'s energy investment banking practice. She joined Merrill Lynch as part of the firm's 2006 acquisition of Petrie Parkman & Co. During the six years Ms. Barnes was at Petrie Parkman and Merrill Lynch, she successfully executed a variety of merger, acquisition, and divestiture transactions for energy clients, advised on public and private equity offerings and structured and placed private debt and equity. Prior to joining Petrie Parkman, Ms. Barnes was with Enron Energy Services as Vice President, responsible for executing energy management contracts with large industrial clients, including refineries and chemical companies. From 1994 through 2000, Ms. Barnes worked as Managing Director and Senior Vice President for Nesbitt Burns Securities in New York and Houston, serving as head of the firm's U.S. energy investment banking group. From 1984 through 1993, Ms. Barnes worked for Bank of Montreal in New York and Calgary, specializing in structured finance and corporate banking for energy clients.


 Ms. Barnes began her career as a reservoir engineer for a subsidiary of Exxon, and was a licensed petroleum engineer. She received a Bachelor of Science in Mechanical Engineering (Dean's List) from University of Manitoba, and a Master's of Business Administration from York University.  Ms. Barnes is active in oil and gas industry activities and the Houston community.  She currently is a board member of the Houston Energy Finance Group and Chairperson of the Santa Maria Hostel Foundation, and recently served as a board member for the Harris County Houston Sports Authority and the Houston Producers Forum.


 




 



Timothy S. Duncan


Tim Duncan is currently the President & Chief Executive Officer of Talos Energy LLC, a new Gulf Coast and Gulf of Mexico focused company with equity commitments from Apollo Capital and Riverstone Holdings.  He co-founded and was Sr. Vice President of Business Development for Phoenix Exploration Company (funded by Riverstone, Pine Brook, Soros), which sold to Apache Corporation in August of 2011.  Prior to Phoenix, he was with Gryphon Exploration Company (funded by Warburg Pincus) where he was the principal lead in all of their technical and commercial evaluation efforts and their eventual sale to Woodside Energy in September of 2005.  Tim also worked in various reservoir engineering and portfolio evaluation functions for Amerada Hess Corporation, Zilkha Energy Company and Pennzoil E&P Company.  Tim has a BS in Petroleum Engineering from Mississippi State University and an MBA from the Bauer Executive Program at the University of Houston.  He is an active member of the Society of Petroleum Engineers, IPAA and Houston Producers Forum.  Tim also serves on various local Advisory Boards including the Petroleum Engineering program at the University of Houston.


 




 



Allen May


As the VP of Business Development for HighMount, Allen is responsible for leading growth through acquisitions of oil and gas exploration and producing properties. In his role, he spearheads a multi-disciplined business development team that evaluates and closes large acquisitions and mergers.


Prior to HighMount, Allen was the VP of Business Development for Denali Oil & Gas, a private equity backed E&P company focused on South Texas gas and Eagle Ford Oil. Before Denali, he was a co-founder of Elang Energy, an exploration and development company focused on oil and gas investments in Indonesia.  As a VP with Samson Investments in the 2000’s, he led the International and Gulf of Mexico business units. Allen also led Amoco’s London based North Sea exploration business in the mid-1990’s, then worked as a senior executive in business development for BP in London and Houston.


Allen began his career as a geophysicist with Amoco in New Orleans, after obtaining a B. S. degree in Geophysical Engineering from the Colorado School of Mines in 1977. Today, he serves as an industry advisor to the Colorado School of Mines.


 






Full Description



Organizer

Tony Webb


Date and Time

Wed, March 28, 2012

5 p.m. - 7 p.m.
(GMT-0500) US/Central

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Location

Four Seasons Hotel

1300 Lamar, Between Caroline & Austin
Houston, Texas 77010
USA