2015Marriott West Loop Hotel, Houston, Texas, USA

Breaking down the complexities to secure yourown finances

Project Financing in Oil and Gas North America

9th & 10th

MARCH

EXPERT SPEAKER PANEL INCLUDES: Duncan Caird, Head of Project and ExportFinance, Americas, HSBC

Kerri L. Fox, Managing Director and Head, ProjectFinance North America, BBVA

Marc Rowland, Senior Managing Director, IOGCapital

Rick Hoover, Chief Financial Officer, Breitiling Oiland Gas

Terry Newendorp, Chairman & CEO, Taylor-DeJongh

Christopher Hasty, Managing Director, Head of Oil& Gas and North America Head of NaturalResources, Lloyds Banking Group

Dewey Gonsoulin, Partner, Bracewell & Giuliani

Noam Ayali, Partner, Project Finance, Chadbourne&Parke LLP

BENEFITS OF ATTENDING:• Hear from representatives across North America

talking about recent PF projects • Understand the differences between offshore and

onshore projects • Recognise what the lenders need to see in order to

secure your loan • What can you learn from others who have successfully

undertaken PF projects in North America?

www.projectfinanceoilgasusa.com Register online or fax your registration to +44 (0) 870 9090 712 or call +44 (0) 870 9090 711

PLUS AN INTERACTIVE FULL-DAY POST-CONFERENCE WORKSHOP • 11TH MARCH 2015 • 8.30AM - 3.00PM

Reserves and Resources – A guide to PRMS

Hosted by:

BOOK BY 28TH NOVEMBER AND SAVE $300 • BOOK BY 30TH JANUARY AND SAVE $100

SMi present its 2nd in the series of conferences on…

#PFOilGasUSA@SMiGroupEnergy

Project Financing in Oil and Gas North AmericaDay One | Monday 9th March 2015 www.projectfinanceoilgasusa.com

Register online at www.projectfinanceoilgasusa.com • Alternatively

8.30 Registration & Coffee

COMMERCIAL STRUCTURE AND RISK ANALYSIS

9.00 Chairman's Opening Remarks

Terry Newendorp, Chairman & CEO, Taylor-DeJongh

OPENING ADDRESS

9.10 Evolution of Project Finance in Upstream/Midstream:

Where we have been and where the industry is trending

• Evolution in project finance in US upstream

• Marc’s personal experience as CFO of Chesapeake

Energy Corporation

• The future of project finance

Marc Rowland, Senior Managing Director, IOG Capital

9.50 Trends and Opportunities in Americas Energy Finance

• Debt Capital Markets: Project Bonds and Term Loan

• Hedging Strategies

• Commodity Assessment

• Tolling vs. Merchant

Duncan Caird, Head of Project and Export Finance,

Americas, HSBC

10.30 Morning Coffee

11.00 Changing Landscape for Project Finance

• Bank and institutional funding

• Ratings

• Regulatory impacts

• Risk allocation and management

Christopher Hasty, Managing Director, Head of Oil & Gas and

North America Head of Natural Resources, Lloyds Banking Group

US SHALE GAS

11.40 Overcoming the perception barriers for PF in US Shale Gas

• Barrier to shale gas financing

- Regulatory and legal risks

- Environmental risks

- Market risk

- Capital availability risk

• Strategies to overcome these barriers

Ron Huff, Managing Director, RCA Capital Partners LLC

12.20 Networking Lunch

1.40 Turning a Resource into a Reserve

• What evidence do you need to show

• Can you demonstrate the potential?

• What is the process of getting to the financing?

Andy Kirchin, Executive Vice President, Consulting, RPS group

2.20 Financing with Institutional vs. retail investors

• Debt is financed with Institutional investors. The advantage

is you get to keep the whole pie. The disadvantage is you

get to keep the whole pie

• Preferred Stock, or Convertible Preferred Stock. Security for

the investor, with some upside. Retail investors enjoy the

interest spread and some upside potential. Institutional

investors will be looking to get a bigger piece of the pie

and the Company has to be aware of the short stock play

driving the common stock to 0

• Common Stock. Registered offerings are expensive and

can take a long time. PPMs can have lower costs, but

higher risk. Retail investors will be looking for historical

trends to continue. Institutional investors will look for the

curve to change, but they may also want a BOD seat

Rick Hoover, Chief Financial Officer, Breitling Energy

3.00 Afternoon Tea

3.30 Reserve Based Lending: A Legal Perspective

• Basic Structures and Documentation

• Current Trends

• Workout Considerations

Dewey Gonsoulin, Partner, Bracewell & Giuliani

4.10 What lending products are available

to producers?

• Market Conditions and Funding Sources

• What Criteria are lenders looking for?

• Why are banks being more cautious

4.50 Chairman's Closing Remarks and Close of Day One

Want to know how youcan get involved?

Interested in promotingyour services to this

market?Contact Julia Rotar,

SMi Marketing on+44 (0)20 7827 6088 or

email:jrotar@smi-online.co.uk

Supporting association Supported by

PANEL DEBATE

fax your registration to +44 (0)870 9090 712 or call +44 (0)870 9090 711

8.30 Registration & Coffee

9.00 Chairman's Opening Remarks

Greg W. Hopper, Vice President and Lead, Oil & Gas Advisory

& Solutions, ICF International

OPENING ADDRESS

9.10 Global Oil Supply Outlook

• Regional Crude Oil Supply since 2005

• Oil Discovery Trends

• Shale Plays – New Insights

• EOR is the New oil Frontier

Rafael Sandrea, President, IPC Petroleum Consultants

MIDSTREAM

9.50 Mezzanine Financing in Lower Middle Market Oil & Gas

Companies

• Brief introduction to Plexus

• Mezzanine debt, SBICs, benefits to owners/operators

• Case studies on several oil and gas portfolio

companies/exits

Mike Becker, Founding Partner, Plexus Capital

10.30 Morning Coffee

11.00 Project Financing For Oil & Gas Pipelines

• Market Conditions and Funding Sources

• Where Are the Opportunities? Gathering, Transmission or

Storage

• Basic Pipeline Project Tenants and Structures

• Case Studies – Traditional and Alternative Financing

Arrangements

Brian Thomas, Managing Director, Prudential Capital Group

LNG

11.40 Financing North American LNG Projects

• Project Finance Debt Funding Sources

• Key Issues

• Common Project Finance Features

• Recently Executed Financings and Upcoming Pipeline of

Projects

Kerri L. Fox, Managing Director and Head, Project Finance

North America, BBVA

12.20 Networking Lunch

1.30 Bank Project Financing vs. MLPs in Mid-stream and LNG • Similar as both structures rely on regular, predictable

revenue over long-term to finance storage and processingassets

• Differences in capital providers results in divergent financialstructures and commercial objectives.

• MLPs must distribute most of their cash to holders, providingincentive to grow their portfolio and rely on further accessto capital markets

• Bank project financing requires extensive coordination butcan access private debt along with debt capital markets.Without needing to grow, bank lenders’ interpretation ofrisks and cost of capital may be different

Terry Newendorp, Chairman & CEO, Taylor-DeJongh

2.10 North American LNG Export Project: FinancingConsiderations

• North American LNG Export Projects: FinancingConsiderations

• Setting the stage: LNG project finance basics • LNG projects: integrated versus tolling • Alternative project structures and financing implications • Funding sources and financing implications • LNG SPA/LSTA issues/risk allocation • Highlights from recent transactions Noam Ayali, Partner, Project Finance, Chadbourne & Parke LLP

2.50 Afternoon Tea

3.20 LNG Project Financing considerations • Overview of Traditional LNG Project Financing Structures • Allocation of Project Risks Among Stakeholders • Emergence of Alternative Financing Structures • The Role of Private Equity Jeffrey Pendergraft, Senior Managing Director, Galway Group

4.00 Financing the North American LNG Export Value Chain • Overview of current market conditions and project

financing considerations • Financing structures being applied to US and Canadian

export projects • Outlook for FERC regulatory approvals to site, construct

and operate LNG export facilities in the US • Methods to reduce regulatory risk in small-mid scale LNG

Infrastructure • Update on the US DOE’s position and processes for export

permits Lisa M. Tonery, Partner, Norton Rose Fulbright

4.40 Large Offshore Infrastructure Financing Project in West Africa • Site location process • Establishing source and use of funds • Understanding the capex and opex • Funding process we use Paul Allen, OIM, PMP, Group Chairman / Project Director,

Project Executive Group & Affiliates

5.20 Chairman’s Closing Remarks and Close of Day Two

Project Financing in Oil and Gas North AmericaDay Two | Tuesday 10th March 2015

Supported by

Overview: The workshop investigates the classification andcategorization of resources within the SPE-PRMS system. Bythe use of particular case studies, the workshop will highlightthe boundaries between class and category when assessingresources for management and financial disclosure. Themethodology for assessing hydrocarbons-in-place andresources is explained and the significance of uncertainty isdescribed. Both deterministic and probabilistic approachesto volumetric assessment are outlined. The engineeringtoolkit, using static, decline curve, material balance andreservoir simulation, is described. The link between economicvaluation and net Reserves and Resources is explained alongwith issues relating to aggregation and reporting of thesevolumes.

Who should attend:The workshop is targeted at mid to senior level engineers,geoscientists and commercial staff needing to understandbetter the principles and practice of reserves and resourcereporting.

Programme:8.30 Registration and Coffee9.00 Opening Remarks9.10 Primary Resource Estimation Method9.50 SPE-PRMS scheme10.30 Morning Coffee10.50 Estimation Tools and Assessment of Recovery Factor11.30 Risk and Uncertainty in Resources Estimation12.10 Lunch1.30 Reserves and Value2.10 Reporting Reserves and Resources3.00 End of Workshop

About the workshop leaders:Andy Kirchin is the Executive Vice President incharge of RPS’ Houston upstream consultingservices. RPS has brought Andy over to Houston tohelp grow the U.S. consulting business and helpfacilitate an effective exchange of skill-sets

between RPS’ various international offices. Before moving tothe U.S. Andy was the operational director in charge of RPS’City of London office which provides integrated geoscience,engineering and commercial analysis of oil and gasproperties internationally. He has more than 25 years ofindustry experience and, as one of the Principal consultantsat RPS Energy, Andy has conducted numerous Expert rolesboth in Unitisation / Redetermination disputes and in theValuations / Certification area providing technical adviceand Competent Person Reporting to the City of London,both on AIM and full LSE. Andy has worked on projects inmost of the world’s hydrocarbon provinces on bothconventional and unconventional plays. He is a geophysicistby background but has a broad experience in dealing withthe techno-commercial aspects of upstream sector.

Mark Hayes has 28 year’s broad-based petroleumengineering experience working in integratedproject teams and reservoir development. StrongNorth Sea background with a broaderinternational experience in the last 10 years. Good

exposure to projects and production management, and hasexcellent experience of Operated Appraisal & DevelopmentProjects, including:-• Appraisal & development strategy • HPHT Appraisal & development • Deep-water developments, including LNG, • Complex ”designer” wells, horizontal and extended reach

drilling.• Formally Head of Petroleum Engineering for BG Group, • Currently Head of Reservoir Engineering at RPS Energy

About RPS Group:RPS is a global consultancy providing independent technical,commercial, project management and training support. Clientsspan the upstream, midstream and downstream oil and gasindustry. By combining technical and commercial expertise ingeoscience and engineering with an extensive knowledge ofenvironmental and safety issues, we provide support across thecomplete asset life-cycle. www.rpsgroup.com

FULL DAY POST-CONFERENCE WORKSHOPWednesday 11th March 2015

Marriott West Loop Hotel, Houston, Texas, USA8.30am – 3.00pm

Reserves and Resources – A guide to PRMS

In asscociation with

SPONSORSHIP OPPORTUNITIES

SMi offer sponsorship, exhibition,

advertising and branding packages,

uniquely tailored to complement your

company's marketing strategy. Should

you wish to join the increasing number of

companies benefiting from promoting

their business at our conferences please

call: Alia Malick, Director,

on +44 (0) 207 827 6168 or

email amalick@smi-online.co.uk

Don't Miss Out -Gas to Liquids North America

PROJECT FINANCING IN OIL AND GAS NORTH AMERICAConference: 9th-10th March 2015 | Marriott West Loop Hotel, Houston, Texas, USA Workshop: 11th March 2015, London

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