Oil & Finance 2015
Oil & Finance 2015: “Darkness or opportunities?”
During the second half of 2014 the oil price fell dramatically due to over-supply and a weaker demand than expected. OPEC has clearly stated that they will not reduce their production quotas and the price mechanism alone will have to balance the market, thereby increasing price uncertainty.
Furthermore, the cost level has been on a record high level and will necessarily have to adapt to the new market situation. Companies are becoming more reluctant to invest and consequently projects are being put on hold. What can we expect in terms of investment activity on the NCS over the coming years and what would the implications be for the M&A market?
Financing sources that were available in 2014 may not be easily accessible any longer. Is there still appetite among equity and debt investors to invest in the E&P sector and what is the banking community’s view on the current market?
The 2015 Oil & Finance Conference will explore these topics in detail and hopefully provide the participants with useful insights in these uncertain times.
Day 1 of the conference will open with an update on the Norwegian Equity market before focusing on global macro perspectives and its consequences for the NCS.
In the first session Eirik Wærness from Statoil will address the global economy and the global oil and gas markets. Seth Kleinman from Citigroup will follow on with a complementary view on the global oil markets. Finally in this session, Jeremy Low, Managing Director, RBC Capital Markets will share with us his view on global M&A Trends and possible consequences for the NCS.
In the second session Bente Nyland from the NPD will address the challenges ahead for the NCS in terms of costs and activity. Lene Landøy from Statoil will share with us the Statoil view on business development and portfolio optimization on the NCS, and Anders Witteman, an independent consultant to the E&P industry, will give a presentation on asset valuations in volatile markets. Finally Ole Helgesen from Upstream will share with us his view on some development projects on the NCS.
Day 2 starts with an update on the bond market. Thereafter, Nordic Trustee will address issues around default and financial restructuring while Morten Astrup, Founding Partner at Storm Capital Management, will talk about high yield debt as a value creator in E&P restructuring.
Rune Omdahl, Partner at Arntzen de Besche Advokatfirma, will address issues related to various forms of financial security and the final presentation will be Xavier Venereau, Global Head of Upstream E&P, from BNP Paribas, giving us an update on the banking market and recent developments in upstream financing.
The Oil & Finance Conference is a unique opportunity to learn from acknowledged experts in the oil and finance field on current industry trends and challenges. It is also a great networking opportunity, which has gathered over 100 professionals each year. In the evening there will be ample opportunity to talk with colleagues from the oil and finance industry during a wine or beer tasting at Lysebu and subsequent dinner.
Welcome!
On behalf of the program committee
Morten E. Lindbæck (chair)
Program
Wednesday 11. March
Registration
Lunch
Opening remarks
Chair:
What has happened since the last O&F
Energy Perspectives – global economy and oil & gas markets
Oil and Trouble Ahead in 2015
Global M&A Trends – Consequenses for the NCS
Coffee break
NCS INDUSTRY ISSUES
What happens? Investments and players on NCS
Portfolio management: Seizing the opportunity
Asset valuation in Volatile Markets
Project execution: Yme, Goliat, Skarv
Summary of the day
Beer tasting
Dinner with Dinner speak
Thursday 12. March
Coffee/Networking
Chair
E&P companies from a Credit Research Perspective
Oil price hedging strategies
Norwegian Bond High Yield Market
HY as a value creator in E&P restructuring
Coffee break
"The emperors new clothes" ‒ parent company guarantee and other security for financial obligations
Recent developments in Upstream Financing
Conference summary
Lunch
Practical information
Venue:
Lysebuveien 12, Oslo
Telephone: 0047-21 51 10 00
Fax: 0047-22 51 10 01
www.lysebu.no
Organizer:
Norwegian Petroleum Society (NPF), Lilleakerveien 2A, 0283 Oslo
www.npf.no
Final date of pre-registration:
04th March 2015
Conference fee:
NPF personal members NOK 10.900,- plus 25% vat
Non-npf-members NOK 11.900,- plus 25% vat
Payment can be done upon registration by credit card (Master Card/Visa) on our website. If you do not pay by creditcard you will receive an invoice from Norwegian Petroleum Society (NPF).
The fee includes:
– Conference papers
– Coffee/tea
– Lunches
– Conference Dinner
Cancellations:
Cancellations must be received in writing by 04th March 2015 and will be subject to a cancellation fee NOK 1000,- (plus 25% vat) unless a substitute delegate is offered. After this date, the full registration fee will apply, however, substitutions will still be accepted. Substitutions for registered delegates may be made at any time, but we would appreciate prior notification.
Conference paper:
Presentations from the conference will be available on Internet after end of conference. Delegates will be informed when available by e-mail.
Programme changes:
It is sometimes necessary to change timing of the programme. The conference organiser will not be liable for any such unavoidable changes.
Accommodation:
NPF has reserved a number of rooms at Lysebu. Please make your reservation by clicking on the following e-mail link: Oil&Finance2015
For more information please contact:
Project Manager: Kristin Øinæs