North America Assembly
In 2020, the U.S. Upstream Industry has experienced an unprecedented shock having been hit by a combination of the global COVID-19 pandemic and the oil price war. The industry now faces a mass restructuring as companies fight to survive and seek to position themselves for competitive advantage as they emerge from this downturn.
The 12th Annual North America Assembly will be dedicated to addressing
“Survival of the Fittest: Establishing Competitive Advantage in a New World Energy Order”
Royalties & Minerals Representation
Hours of Networking
What to Expect in 2020
Minerals & Royalties: meet the CEOs of the most active M&R companies, their investors & partners, and learn how they are driving growth
Water Midstream: meet with the U.S.’ leading water management companies and their investors, and learn about what partnerships they are eyeing up for future growth
Upstream A&D: meet with 50+ investors and 50+ E&P companies and learn about the innovative financing mechanisms they are using to create deal-flow and fund future development
With over 400 C-Level executives and decision makers from organisations including ExxonMobil, EOG, KKR, NGP Partners, Noble Royalties & many more, the North America Assembly is THE place to meet with the who’s who of the U.S. Oil & Gas industry’s finance & investment communities.
Our Council Connect service will deliver over 100 quality One2One meetings on-site, allowing our partners to maximize time spent out of office and achieve targeted outcomes.
PRIVATE DINNERS & WORKSHOPS
Due to COVID-19, the Oil & Gas Council will not run the North America Awards Dinner in 2020. Instead, we will run a series of private dinners and breakaway workshops. These will be bespoke meetings of 20-30 executives (by invitation only) and will focus on thriving in a low carbon economy; gaining access to capital in a distressed market; successful case studies of implementing technologies and best practice to deliver immediate cost savings.
If you are interested in attending or hosting a private dinner or workshop, please contact us.
2020 Draft Agenda
NorthAm Royalties Assembly - Day 1, October 21
7:30 am REGISTRATION & COFFEE
8:30 am Welcome Remarks: Ben West, Portfolio Manager – Americas, Oil & Gas Council
8:40 am “THE GROUND GAME” – MINERALS & ROYALTIES AGGREGATORS
- Where are the value driven opportunities on the ground?
- The pros and cons of undeveloped vs. PDP – which is more attractive?
- Conventional vs. unconventional plays
9:30 am DEBATE: MINERALS & ROYALTIES PORTFOLIO STRATEGIES, NATURAL GAS VS CRUDE OIL
- What impact will COVID-19 and the oil price war have on associated gas production, and what knock-on effects will this have on gas pricing over the next 12-24 months?
- Does this change the attractiveness of natural gas assets vs. oil assets from a buyer’s perspective?
- Should minerals buyers be investing in natural gas assets to hedge their portfolios against oil price volatility?
- What impact will climate concerns and ESG pressure have on future oil vs. gas development? Does oil face strong headwinds?
10:20 am Networking Coffee Break & Council Connect One2One meetings
11:20 am LEVERAGING TECHNOLOGY IN THE MINERALS & ROYALTIES SPACE
11:50 am DEBATE: MINERALS & ROYALTIES PORTFOLIO STRATEGIES, DIVERSIFICATION VS SPECIALIZATION
- What is the risk-reward of buying PDP vs. undeveloped minerals assets?
- What qualities should in a basin when acquiring undeveloped minerals? And which basins are most attractive and risk-averse?
- To what extent does diversification across different basins protect minerals buyers against exposure to different commodity cycles?
12:40 pm Networking Lunch & Council Connect One2One meetings
12:20 pm Private Minerals & Royalties Investor Luncheon (Invitation Only)
2 pm BUYING OPPORTUNITIES IN THE MINERALS & ROYALTIES SPACE AMIDST COVID-19 AND THE OIL PRICE WAR
- What are the different types of buys-side players seeing in the market?
- Where are the larger scale opportunities?
- ORRI Carve-outs, Line-of-Sight JVs, and M&A
3:00 pm Networking Coffee Break & Council Connect One2One meetings
3:45 pm FINANCE & INVESTMENT IN THE MINERALS & ROYALTIES SPACE
- How are Private Equity Firms, Family Offices, Pension Funds, and other investors viewing the minerals & royalties’ space?
- What role does bank financing and other forms of debt play in the Minerals & Royalties space?
4:45 pm Networking Drinks Reception & Invitation Only Private Dinners
NorthAm Upstream M&A, Finance & Investment, Day 2 – October 22
8:00 am REGISTRATION & COFFEE
8:45 am Welcome Remarks
9 am OPENING KEYNOTE: AMERICA’S FUTURE ENERGY MIX – A NEW NORMAL?
- How long will it take to bring macro-dynamics back into parity from a supply and demand perspective?
- How will U.S. supply and demand differ on emergence from the COVID-19 pandemic?
- What lasting effects will the enforced lockdown have on fuel consumption? Road transport vs. air travel vs. public transport
- Will oil price volatility result in a re-balancing of the U.S. energy matrix once demand begins to grow again?
- Will the combination of global demand destruction and an oil price war accelerate or decelerate the Energy Transition?
9:15 am INNOVATIVE FINANCING MECHANISMS TO DRIVE FUTURE E&P DEVELOPMENT, CREATE DEAL FLOW AND SUPPORT CONTINUED GROWTH ACROSS THE WIDER HYDROCARBON VALUE CHAIN
- The growth and success of Royalties & Minerals and Water Midstream companies is dependent on continued investment in the E&P space. Where will this capital come from?
- How will the U.S. PE model evolve? Early stage capital growth vs. dividend income strategies
- What does the post-pandemic lending landscape look like? How many of the banks active in the O&G RBL market will remain afterwards?
- What role do non-conventional sources of capital such as creditors and trading houses have to play in supporting an industry recovery? When and how will they act?
- What type of behaviour are we likely to see from bullish and activist investors, and which investors are more likely to shy away?
10:05 am A&D OPPORTUNITIES IN THE WATER SPACE
- Will the majors and IOCs create their own water midstream arms to acquire water management companies or will they become net sellers of water midstream assets?
- Identifying attractive acquisitions opportunities that enable water midstream companies to scale up, expand their offering and position themselves as the partner of choice
- What kinds of partnerships should be explored to fuel growth in the water midstream space?
- Will the upstream industry’s mass restructuring open a window of opportunity for water midstream companies post-pandemic?
- How can water midstream and E&P companies narrow the bid-ask spread on deals and asset transfers?
10:55 am Networking Coffee Break & Council Connect One2One Meetings
11:30 am GROWING APPETITE FOR FINANCE & INVESTMENT IN THE WATER MIDSTREAM SPACE?
- What are investors’ primary concerns about the water midstream space?
- Are there any examples of successful investments into and exits from water midstream? What were the lessons learned and what are the factors that drove the most value for investors?
- What kinds of new investors are likely to enter the water midstream space? PE vs. Pension Funds vs. Sovereign Wealth Funds vs. Infrastructure Funds
- How does the ability of Water Management companies to access the capital markets compare with that of E&P companies? Are they co-dependent?
- How important is the ESG factor in the water midstream space and what measures do water companies need to take to tick this “ESG box”?
12:30 pm Networking Lunch & Council Connect One2One Meetings
1:45 RESTRUCTURING: SURVIVAL STRATEGIES AND CREATING A LEANER, MORE ECONOMIC & HIGHLY PROFITABLE U.S. O&G INDUSTRY
- Where is liquidity going to come from for companies needing to restructure?
- How do E&P companies meaningfully restructure so that the financiers avoid simply pumping money into an ill-disciplined industry?
- Winners vs. Losers: will independents and small private companies have access to capital going forward? If so, how do they unlock access to capital?
- Developing a value-creating business plan vs. a liquidating business plan: how to liquidate assets as quickly as possible and get them off the balance sheet
- When are the creditors going to act and how are they going to act? Will they be prepared to take on ownership/operatorship of assets? If not, who will?
2:40 pm Networking Coffee Break & Council Connect One2One Meetings
3:15 pm: UPSTREAM A&D/ M&A: MARKET CONSOLIDATION AND BUILDING A PORTFOLIO OF SCALE AND PROFITABILITY
- Will the majors lead the way with mass consolidation? If so, what opportunities will rise to the top of the pile?
- How do you bridge the valuation gap between the buyer and the seller’s expectations in a low price environment and narrow the bid-ask spread?
- In what oil price environment are companies going to be willing to transact?
- What next for no bid bankruptcy scenarios and illiquid companies going on blowdown?
- Will this provide an opportunity for traditional oil companies to integrate new arms into their portfolio and fill capability gaps to support upstream opportunities that might previously have been too ambitious?
4:10 pm DEBATE: INVESTORS ARE LEAVING OIL & GAS AND THEY’RE NOT COMING BACK
- Private Equity: is this a cyclical downturn or the beginning of a permanent move away from the once highly profitable US Shale industry? How competitive will U.S. oil production be vis-à-vis international projects in high prospect regions?
- How does the increasing competitiveness of renewables compare with the decreasing competitiveness of hydrocarbons from an investor perspective?
- How are financiers and investors de-risking their portfolios to protect themselves against future commodity price volatilities?
- How are investment and lending strategies evolving in the face of increasing ESG pressure?
- Are we moving towards a world where there are fewer energy specialist funds and in which the industry has to rely on more generalist funds?
- Will hydrocarbons or renewables be a bigger driver of economic recovery and future growth?
- Which industry is government most likely to favour Oil & Gas or Renewables going forward?
5 pm Closing Remarks & Networking Reception. End of Assembly
6:15 pm Low Carbon Economy Workshops: Scaling Up CCUS & Hydrogen Infrastructure & Technologies (Invitation Only)
2020 Lead Sponsor
2020 Premium Sponsor
2020 Associate Sponsors
2020 Minerals & Royalties Sponsors
2020 Women's Energy Council Sponsor
2019 Awards Dinner
Our Lifetime Achievement Award celebrates the triumphs and successes of those individuals who have made a true difference in their industry. These executives are responsible for pioneering new frontiers, pushing boundaries, for inspiring others and for achieving growth in challenging markets as well as giving back to the communities. They are those that we should be proud of and that we benchmark industry excellence to.
We’re pleased to announce the 2019 Award Recipient as
Howard Newman, Managing Partner & Co-Founder, Pine Brook Partners
Mr. Newman is a managing partner of Pine Brook, which he co-founded in 2006. He is also a member of the Firm’s Management Committee and Investment Committee. Mr. Newman represents Pine Brook on the board of Elevation Resources Holdings, LLC.
Over the course of his career, he has been a director or observer on the boards of more than 45 companies. Read full bio here.
In 2019, we welcomed 387 senior Oil & Gas executives to Houston for the 11th annual North America Assembly & Dinner. Over the course of two days attendees heard from experts on the latest news and developments in the Royalties & Minerals and Upstream sectors.
At the Awards Dinner, Howard Newman, Managing Partner & Co-Founder, Pine Brook Partners received the 2019 North America Lifetime Achievement Award for pioneering new frontiers, pushing boundaries, inspiring others, achieving growth in challenging markets as well as giving back to their communities.