Gas Operating Opportunities in the North Sea Workshop October 29, 2008 – Houston, Texas, The Petroleum Club (800 Bell Street) 8:30 a.m. – 2:30 p.m. Partner Organisation: Texas Alliance of Energy Producers Tentative Agenda 8.30 a.m. Registration / Continental breakfast 8:45 a.m. Welcome Remarks & Overview: North Sea Gas Confirmed Speaker: Pat French, President, Texas Alliance of Energy Producers Azeemeh Zaheer, Vice Consul, UK Trade and Investment 9:00 a.m. The Gas Basin versus the Rest of the North Sea: Recent Past, Current Performance and Future Opportunity Confirmed Speaker: Jim Hannon, Managing Director, Hannon Westwood A review and commentary on UKCS E&A drilling stats for the past three years by area, play and company sectors, including the Gas Basin and new entrants, with comments on their E&A performance relative to more established players. The talk will also include a look ahead at the level of activity expected in E&A wells in the next two to three years for all areas, including the Gas Basin. It will also comment on the current progression of prospects into developments and their funding requirements and our organisation’s perceived opportunities for investment in the potential resources coming out of this recent and significant increase in E&A drilling activity. 9:25 a.m. Drilling Challenges Facing Independents Confirmed Speaker: Edward J Davies, CEO, Bridge Resources Smaller operators face many drilling challenges – including getting the attention of drilling contractors. Edward will discuss such issues and share his best practices. 9:45 a.m. Operator Perspective: Identify best practices in operating existing fields and facilities Suggested Speaker: Marathon 10:05 a.m. Coffee Break 10:20 a.m. Contractor Perspective Confirmed Speaker: Chuck Hauf, President, Challenger Minerals Inc. (a Subsidiary of Transocean) Drilling North Sea wells differently so those smaller prospects can be developed economically 10:40 a.m. Service Company Perspective Confirmed Speaker: James Donovan, Baker Petrolite Production Optimisation/ chemicals – optimisation in gas wells. 11:00 a.m. Service Company Perspective Confirmed Speaker: Schlumberger Use of Flexible/temporary stimulation vessels and their impact on improving/enabling the economic development of UK North Sea gas fields. 11.30 a.m. Keynote Speaker Lunch Confirmed Speaker: William Transier, Chairman & CEO, Endeavour Given that Endeavour has been successful in the North Sea and plans to spend close to $90 million of capital this year to fund oil and gas exploration, development and producing activities in the North Sea - story would be a great example for other companies to look to for advice within the region 1:00 p.m. Improved Gas Derivability Through Hydraulic Fracturing in the Southern North Sea Confirmed Speaker: Anthony Martin, Business Development Manager for International Stimulation, BJ Services and SPE Distinguished Lecturer Hydraulic fracturing has been described as one of the three most significant technologies to be developed in the upstream oil and gas industry in the last 50 years (the other two being 3D seismic and horizontal wells). However, the traditional approach to hydraulic fracturing has been that it is a technology best applied to new wells, drilled into low permeability formations. It is true that fracturing has been highly successful in this environment - but it is also true that fracturing can be both technically and economically successful in a very wide range of reservoirs, including depleted, oil and gas assets. Various strategies such as skin bypass fracturing, batch fracturing, screenless frac-packs, coiled tubing fracturing and neutral density proppant fracturing can be combined with complimentary techniques for zonal isolation, relative permeability modification and scale inhibition, to produce low-cost, high-value solutions for mature assets. 1:30 p.m. Review of regulations and tax regimes in the North Sea Gas Fields / Capital investment requirements for future well commitments Discuss the future operating environment and the impact on Southern North Sea gas production from a regulatory perspective. Are regulations and tax regimes in place that are needed to extend the life of Southern North Sea gas fields and to explore and hook up near field opportunities? [Companies producing oil and gas from new fields on the U.K. Continental Shelf pay a tax rate of 50%, compared to a standard corporation tax of 28%.] / The difference with respect to economics is clearly related to the remaining reserves, i.e. the low value of the remaining reserves that precludes high drilling expenditures. Cost reductions in the order of 30 to 40% are required to further economically develop the remaining smaller pockets of gas 2.00 New Gas Investment: Unlocking Reserves Confirmed Speaker: BG BG discuss the fact that the early demise of the UKCS has been overplayed. In fact, this basin has been good for BG and we would discuss that and then go on to highlight how constructive the Treasury is being in trying to find a means of unlocking reserves that risk not being produced; this is being done through their recent consultation. We would then discuss BG's special interest in HPHT prospects, an area of high risk but potentially very high reward. We have two very big recent HPHT finds - Jasmine and Jackdaw - we could refer to plus a string of HPHT prospects we hope to drill. This presentation would be more about the investment climate and potential, rather than a technical presentation.
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