Page 1 DUG Bakken and Niobrara 2013 Show Report Conference Summary Denver — As in any revolution, change can be counted on to be swift, and the shale revolution underway in the U.S. is seeing its share of radical transformation. Since the Bakken and Niobrara plays have taken the lead on many fronts, it’s no surprise that much of the discussion at DUG Bakken and Niobrara 2013 in Denver addressed not only the enthusiasm and optimism of continued success but also the challenges emerging from its shadows. Speakers doing business in the two regions foresee extraordinary growth – 20% growth in the next five years, by one estimation, and 10,000 drilling locations in the near future by another. Effusive descriptions – from “exciting” to “fantastic” to “amazing” -- about the ultimate potential of the Bakken and Niobrara plays abounded. Chuck Davidson, the chairman and chief executive of Noble Energy, compared today’s drilling activity to that in 1972, when drill count peaked. “After that, we thought we had entered into an era of irreversible decline. But by next year in the Niobrara, we may well be above 8 million barrels per day.” Meanwhile, Whiting Petroleum CEO Jim Volker said of his company’s high expectations in the Bakken. “We’re on the starting line of a race track, and we’re about to pop the clutch.” Operators are pursuing pad drilling, longer laterals and down spacing in each play. Only 11 wells have been drilled from North Dakota’s lower Three Forks formations so far, said Jack Stark, executive vice president of Continental Resources. Of the 11, eight are Three Forks 2 producers with an average initial production (IP) of 1,695 barrels of oil equivalent per day (BOE/day). None have yet been drilled in the TF4 bench. Estimated incremental production could be billions of barrels of oil, he and other speakers said. The growing pains accompanying such expansion, however, were also part of the dialogue: from the widespread bottleneck of oil leading to price differentials too large to ignore, to the debate over the best means with which to solve the pipeline vs. rail transportation issue, to pro-active alternatives to flaring. As is often the case with such expansive, opinionated and interesting conversations, pinning down conclusions or resolutions wasn’t always possible. At the very least, it’s an excellent reason to welcome everyone back to DUG Bakken and Niobrara 2014 to pick up what’s bound to be another engaging conversation next year. See you then! Leslie Haines Editor-in-Chief Oil and Gas Investor Hart Energy
19
Embed
DUG Bakken and Niobrara 2013 Show Report Conference Summary · Page 1 DUG Bakken and Niobrara 2013 Show Report Conference Summary Denver — As in any revolution, change can be counted
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
Page 1
DUG Bakken and Niobrara 2013 Show Report
Conference Summary
Denver — As in any revolution, change can be counted on to be swift, and the shale revolution underway in the U.S. is seeing its share of radical transformation. Since the Bakken and Niobrara plays have taken the lead on many fronts, it’s no surprise that much of the discussion at DUG Bakken and Niobrara 2013 in Denver addressed not only the enthusiasm and optimism of continued success but also the challenges emerging from its shadows.
Speakers doing business in the two regions foresee extraordinary growth – 20% growth in the next five years, by one estimation, and 10,000 drilling locations in the near future by another. Effusive descriptions – from “exciting” to “fantastic” to “amazing” -- about the ultimate potential of the Bakken and Niobrara plays abounded.
Chuck Davidson, the chairman and chief executive of Noble Energy, compared today’s drilling activity to that in 1972, when drill count peaked. “After that, we thought we had entered into an era of irreversible decline. But by next year in the Niobrara, we may well be above 8 million barrels per day.” Meanwhile, Whiting Petroleum CEO Jim Volker said of his company’s high expectations in the Bakken. “We’re on the starting line of a race track, and we’re about to pop the clutch.”
Operators are pursuing pad drilling, longer laterals and down spacing in each play. Only 11 wells have been drilled from North Dakota’s lower Three Forks formations so far, said Jack Stark, executive vice president of Continental Resources. Of the 11, eight are Three Forks 2 producers with an average initial production (IP) of 1,695 barrels of oil equivalent per day (BOE/day). None have yet been drilled in the TF4 bench. Estimated incremental production could be billions of barrels of oil, he and other speakers said.
The growing pains accompanying such expansion, however, were also part of the dialogue: from the widespread bottleneck of oil leading to price differentials too large to ignore, to the debate over the best means with which to solve the pipeline vs. rail transportation issue, to pro-active alternatives to flaring.
As is often the case with such expansive, opinionated and interesting conversations, pinning down conclusions or resolutions wasn’t always possible. At the very least, it’s an excellent reason to welcome everyone back to DUG Bakken and Niobrara 2014 to pick up what’s bound to be another engaging conversation next year.
See you then!
Leslie Haines Editor-in-Chief Oil and Gas Investor Hart Energy
Page 2
Did you meet these industry leaders while at DUG Bakken and Niobrara?
President Addax Minerals
COO Advantage Resources
President American Western Group
CEO/Chairman Anschutz Exploration Corp.
President Aterra Exploration LLC
President Audubon Field Solutions
Executive VP & Founder AXIA Energy
President B.C. Holdings
President Bakken Communications
CEO Bayswater E&P
COO Bayswater E&P
President - U.S. Baytex Energy USA Ltd.
CEO Big Sky Energy Advisors, LLC
Executive VP Big Sky Energy Advisors LLC
CEO/CTO BioSyn Resources LLC
COO Blackriver Corp.
President Borah-Borah Petroleum Inc.
President Brigham Minerals
Chairman and COO BWAB-Sovereign Energy Group
President Capital Strategies
President Cawley, Gillespie & Associates
President Charger Resources LLC
CFO Comet Ridge Resources
President Condor Petroleum, Inc.
President Crown Energy Partners LLC
President Dejour Energy Inc.
President DemandPoint Energy
President Desert Rain Consulting LLC
President Dexxon, Inc.
President Diamond Operating Inc.
President Diamondback Industries
President & CEO Diceros Asset Management LLC
President Digital Formation
CEO Diverse Energy
President/CEO Dorado E&P Partners LLC
President DTM Oil Investments LP
CEO Eckard Global LLC
President Emerald Oil Inc.
Executive VP Endeavour International
President Energy Investments Inc.
Executive VP & COO Energy IV, LLC
COO Family Real Estate Enterprises
Executive VP & CFO Fortis Warranty
President Gaedeke Energy, LLC
CEO GEODynamics Inc.
President Gerrity Bakken LLC
CFO Great Western Oil & Gas Co.
COO Great Western Oil & Gas Co.
President & CEO Great Western Oil & Gas Co.
Executive VP - Exploration Halcon Resources
President Hissop Energy, LLC
COO Jagged Peak Energy
President & CEO Jagged Peak Energy
President Jmac Resources LLC
President Julander Energy Co.
Chairman & CEO K.P. Kauffman Co.
COO K.P. Kauffman Co.
Executive VP Kaiser-Francis Oil Co.
COO/ Executive VP Kodiak Oil & Gas Corp.
Executive VP - Exploration Kodiak Oil & Gas Corp.
Page 3
Did you meet these industry leaders while at DUG Bakken and Niobrara?
Executive VP - Exploration Kraken Oil & Gas LLC
President Lario Oil and Gas
President & CEO Liberty Midstream Services
CEO Liberty Resources LLC
President & CEO LNG Energy Ltd.
President Madison Capital
President Magnolia Petroleum Inc.
Pipeline Major Pipeline LLC
President Marks Oil Inc.
President Meagher Energy Advisors
CEO Melange International LLC
CEO Merchant Energy Holdings LLC
President Meritage Midstream Services II
CEO MHA Petroleum Consultants
President Nance Resources Inc.
President New Prospect Co.
President/COO North Plains Energy LLC
President North Shore Energy LLC
President Northern Energy Corp.
President Odum Oil & Gas Co.
Executive VP Oracle Resources Ltd.
President Oracle Resources Ltd.
President Overland Oil & Gas
President OVS Group
CEO PAIS LLC
Chairman and CEO Paltar Petroleum Ltd.
Executive VP Paltar Petroleum Ltd.
CEO Peakview Energy Co., LLC
President Percheron Survey
President Petrogulf Corp.
President Petroshale (US) Inc.
CEO Petroshale Inc.
President PetroShare Corp.
President Pioneer Energy
President Platte River Properties Inc.
CEO Ranger 40 Petroleum
President Resolute Energy Corp.
CEO Samson Oil and Gas Ltd.
President Saxet Petroleum Inc.
President Schmidt Engineering Inc.
President Sethi Financial Group
CEO Source Energy Partners
CEO Tamaska Oil and Gas Ltd.
President The Petroleum Synergy Group
President Thors Oil Products
CFO Tracker Resource Development
CEO TransMontaigne
President & CEO Triangle Petroleum
President Trice & Associates
President & CEO Tulsa Engineering Alliance Inc.
President U.S. Energy Corp.
President WCP Energy Inc.
President Western Oil and Gas
President Wildcat Resources Inc.
President - Onshore Wood Group Mustang
Chairman & CEO XCEL Partners
President Zalman Resources
Page 4
Did you hear these informative speakers?
Vance Scott Partner
A.T. Kearney Inc.
Tom Dyk CEO
AXIA Energy
Teresa Perkins General Director -
Petroleum BNSF Railway
Patrick Graham EVP -
Corporate Development Bonanza Creek Energy Inc.
Steve Boljen Senior Staff Geologist
Breitburn Energy
David Scobel COO
Caliber Midstream
Erik Johnson VP and General Manager Canopy Prospecting Inc.
Stephen Lipari COO
Central Montana Resources
John Curtis Director,
Potential Gas Agency Colorado School of Mines
Jack Stark SVP of Exploration
Continental Resources Inc.
David Hill VP Natural Gas
Economy Operations Encana Natural Gas Inc.
Trisha Curtis Senior Research Analyst Energy Policy Research
Jeffrey May Geologic Consultant,
Chief Geologist Retired EOG Resources
John Curtis Rocky Mountain Manager
GeoMark Research Ltd.
Robert Turnham President
Goodrich Petroleum Corp.
Jon Wright VP Operations
Halcon Resources Corp.
Clay Terry Technical
Marketing Manager Halliburton
Greg Hill EVP and President,
Worldwide E&P Hess Corp.
Brian Freed Vice President
Inergy
Gibson Scott Director Energy Research ITG Investment Research
Welles Fitzpatrick Analyst
Johnson, Rice & Co.
Danny Weingeist Managing Partner Kayne Anderson
Chuck Yates Partner and
Managing Director Kayne Anderson
James Hoff VP Reservoir Engineering
Merchant Energy Holdings LLC
Steven Huckaby CEO
Meritage Midstream Services II, LLC
Chuck Davidson Chairman and CEO Noble Energy Inc.
Justin Kringstad Director
North Dakota Pipeline Authority
Taylor Reid COO
Oasis Petroleum Inc.
Bart Brookman SVP Exploration
& Production PDC Energy
Tom Petrie Chairman
Petrie Partners
Harrison Williams EVP & Co-Head of
Acquisitions and Divestitures Raymond James
Nathan Salvage Senior VP
Savage Cos.
John Cleveland Managing Director
and Partner SFC Energy Partners
Lance Langford VP - Bakken
Statoil
Paul Hopfauf VP
WBI Energy
Robert Fulks Director Shale
Resource Projects Weatherford
Rick Ross VP Operations - Denver
Whiting Petroleum Corp.
Jim Volker Chairman and CEO
Whiting Petroleum Corp.
Odette Eng VP Global
Refining Select WorleyParsons
Alan Harrison VP Drilling Operations
WPX Energy
Page 5
DUG Bakken and Niobrara 2013 Statistics
Total Attendance 2,292
Total Sponsors 38
Total Exhibitors 199
Countries Represented (9)
● Australia ● Germany ● Norway ● Canada ● Italy ● United Kingdom ● China ● Namibia ● United States
US States Represented – 46 plus D.C.
Alabama Alaska Arkansas Arizona
California Colorado Connecticut District of Columbia
Florida Georgia Idaho Illinois
Indiana Iowa Kansas Kentucky
Louisiana Maine Maryland Massachusetts
Michigan Minnesota Mississippi Missouri
Montana Nebraska Nevada New Jersey
New Mexico New York North Carolina North Dakota
Ohio Oklahoma Oregon Pennsylvania
South Carolina South Dakota Tennessee Texas
Utah Vermont Virginia Washington
West Virginia Wisconsin Wyoming
Save the Date: DUG Bakken and Niobrara –
April 2 – 4, 2014
DUG Bakken and Niobrara Conference and Exhibition focuses on the world-class Bakken, the emerging Niobrara and oil- and liquids-rich resource plays throughout the Rocky Mountain region. The latest geological thinking, high-potential targets in the Denver-Julesburg, Uinta, Piceance, Powder River and Green River basins, best practices for drilling and completions, and midstream challenges are examined. DUG Bakken and Niobrara conference has become the premier, must-attend event for unconventional oil producers today. Exhibitors at DUG have opportunities to present drilling technology to leading corporate executives as well as senior-level planning and operations personnel. With more than 7,500 attendees in just the past three years, the conference continues to grow in significance and importance. On behalf of Hart Energy, we thank all those who have participated over the past four years and we invite you back next year. Mark your calendars for the 5th Annual DUG Bakken and Niobrara Conference and Exhibition. The
dates are April 2 – 4, 2014, at the Colorado Conference Center in Denver, Colorado.
Page 6
Conference Attendees by Job Title:
Conference Attendees by Company Type:
Admin/Comm/ IT/Comm.
1%
Consult/Legal 4%
Purchasing/ Procurement/
Other 5%
Eng.Mgmt/Tech/ Field/R&D
19%
General / Corp. Mgmt.
33%
Sales/ Marketing
38%
G&G/Land/ Dril.Cont.
5%
Engineering 5%
Midstream: Pipe/Proc/TS
6%
Manufacturing 9%
Consulting 8%
Banking/Finance 9%
Oil and Gas Operator - Priv/Pub.
24%
Service and Supply 34%
Page 7
927 Companies Represented 3 Bear Energy LLC 3M A&W Water Service
A.T. Kearney Inc. AAPL Abutec LLC
Accelerated Production Services Inc. Addax Minerals Advanced Energy LLC
Advantage Resources Advent AED Group, LLC
Agar Corp. Agatsu Holdings Aggreko LLC
AGR Airliquide Aka Energy Group LLC
Alchemy Ionics Allete Clean Energy Allied Wireline Services LLC
Aly Energy Services Inc. AMEC Amegy Bank of Texas
American Jereh American LNG Transportation American Western Group