US O&G Majors' Presentations - 2011

ExxonMobil:
2011 Business Model & Fundamental Strategies
Goldman Sachs Global Energy Conference

BP:
China's Energy Future
2011 Statistical 60 Years Review

ConocoPhillips:
Investor Presentation - June 2011
UBS Energy Conference

2011 Annual Meeting of Stockholders
2011 Investor Update

Chevron:
2011 Tengiz Field Trip

Eurasia Business Unit Overview

2011 Tengiz Field Trip - Europe, Eurasia and Middle East

Anadarko:
2011 RBC Capital Markets Energy & Power Conference
2011 Howard Weil Energy Conference

Devon Energy:
Annual Meeting - June 2011

Shell:

CREDIT SUISSE EUROPEAN OIL & GAS CONFERENCE
Goldman Sachs London Presentation 2011

Chesapeake:
June 2011 Investor Presentation
May 2011 Investor Presentation
April 2011 Investor Presentation

Falkland Oil and Gas Limited Plans to Acquire Extensive License Areas to the South and East of the Falkland Islands

Falkland Oil and Gas Limited (FOGL) is an oil and gas exploration company operating in the South and East Falkland Basins, potentially a new petroleum province in the South Atlantic. Recently, the company secured operatorship and the remaining 51% interest in the Northern license area from BHP Billiton. Currently, FOGL is planning a two well program commencing from Q1 2012, first well on Loligo, identity of 2nd well dependent on results.

FOGL recently confirmed drilling operations on the south of the Falkland Islands will begin in the first quarter of 2012 and revealed it is in early talks with firms interested in taking part in its exploration program. The company however anticipated it did not expect to conclude any farm-out agreement until later this year.

Separately, FOGL said it was planning to acquire some additional focused 2D seismic for its deeper Scotia and Hero prospects so that it can fine-tune the location of an exploration well on either of these two prospects.

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In May 2011, the company revealed it had secured a rig contract for two slots and hopes to begin drilling on its prospects in the first quarter of 2012. The announcement came after it already confirmed it is to test the Loligo prospect - with estimated reserves of 4.7 billion barrels.
The firm added then that it had sufficient funds for a second appraisal well on either Loligo, or on one of the other high ranked prospects such as Nimrod, Vinson or Inflexible and was considering targeting Scotia or Hero but this would involve additional cost due to their greater depth.

“Since becoming operator and 100 percent owner of our licenses on 31 March, we have secured a suitable rig, put in place funding for a 2 well program and have established an experienced drilling management team.”, Tim Bushell, Chief Executive, FOGL.

”We have also accelerated all the other required work streams in preparation for our drilling program which is expected to commence in the first quarter of 2012.”

FOGL is required to make a mandatory relinquishment of 20% of the Northern License area at the end of 2011 as required under the existing license terms. The second phase of the Northern license area does not expire until 15 December 2015 and carries the obligation to drill a single exploration well.

FOGL has already entered Phase 2 of the Southern License area and no further relinquishment is required. FOGL is focused on extensive license areas to the South and East of the Falkland Islands.

Source Documents:

FOGLAGM PPT

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Senegal - Overview of Oil and Gas Exploration and Main Players

Senegal is the westernmost country in West Africa. In the last 48 years, more than 145 hydrocarbon exploration wells have been drilled in Senegalese territory. At least 49 of these were drilled offshore, with 23 of these being located in the Casamance Offshore. The other area of interest that has been drilled is onshore in the vicinity of the Cape Vert Peninsula. The rest of the Senegal Basin outside these areas remains under-explored. An overview of exploration activity in Senegal is provided below.

 For a list of West African oil discoveries in 2010 - 2011 click here. For information on Angola (South West Africa), click here. For a list of recent discoveries and exploration plans in neighbouring Ghana, click here, and for a list of all discoveries in Ghana click here. All information has been sourced from Derrick Petroleum's extensive exploration and deals databases.For a list of discoveries and exploration plans in Cote D'Ivoire in 2011 click here. 

Petroleum prospecting in Senegal started in the 1950s and in the 60’s and 70’s a number of small fields were discovered, but were uneconomical and not exploited. In the late 1970s, offshore exploration started again and a field of heavy crude oil of 1 billion barrels was discovered. So far only one gas field (Diam Niadio 14) has been discovered. The only hydrocarbon production in Senegal at the moment is from the Gadiaga Field, about 60km north-east of Dakar. Fortesa holds 70% in the Gadiaga Development Area, with the remaining 30% held by Petrosen, the national oil company of Senegal. 

First Australian Resources Ltd (FAR) has 3 Blocks covering 2,086 sq km in Senegal. The Rufisque, Sangomar and Sangomar Deep offshore Production Sharing Contracts (PSC) cover an area of ~ 7,490 km² over the shelf, slope, and basin floor of the Senegalese portion of the productive Mauritania-Senegal-Guinea-Bissau Basin. 3D seismic has been acquired and multiple prospects ranging from 200 million bbl to greater than 1 billion bbl potential have been mapped and identified. FAR is looking for a partner in Senegal (up to 50% available). FAR currently operates the blocks with a 100% interest but Ophir can earn the right to acquire a 25% interest in Senegal licence areas within 60 days of drilling the Kora prospect and in this case will also be appointed as operator.

Three  Exploration and Production Sharing Contracts were signed between Oranto Petroleum Ltd, a Nigerian based company and the State of Senegal, on 3rd December 2009 for the following blocks: Cayar Offshore, Saloum and Senegal Onshore South.

 Map of Blocks in Senegal. Modified from Petrosen.

The Saint Louis Block covers the northern-most inshore section of the Senegalese offshore area and covers an area of 2,807 sq km. Energy Africa acquired the St. Louis exploration licence with Petrosen in late 2003. Tullow operates the licence with a 60 percent interest. Dana acquired a 30 percent interest from Tullow in the fourth quarter of 2004. Petrosen holds the remaining 10 percent. The operator Tullow is looking to replicate the success of its West African Cretaceous play in this block in Senegal. Although no plans have been put forward by the partners, exploration activity with drilling of a well on this block is a high possibility for 2012.

The Sebikhotane block has had many wells drilled and several seismic lines acquired including 3D covering 120 square kilometers around the Diam Niadio area since 1986. A Petroleum Sharing Agreement covering this block was signed with the Consortium Maurel & Prom – Orchard in July 2002. Maurel & Prom had planned to drill the KN-1 and BAOBAB-1 exploration wells in 2010, but it seems the drilling of these wells is on hold pending further information from the company.

The Thies block was first granted to Petrosen in 1993. With the Cooperation of PCIAC, the interpretation of different studies and surveys resulted in the identification of four prospects named respectively Gadiaga, Diender, Sebissou and Mont-Rolland. A drilling program of four exploration wells kicked off with the first well Gadiaga-2 (Gd-2) which was drilled between November 96 and January 97 at a total depth of 2180 m in Lower Senonian interval. Several interesting levels were encountered and six of them tested in the Senonian section with two levels in the Campanian giving commercial gas. A Production sharing agreement was signed in February 2001 with Fortesa Corporation, a Houston based company, for the production of the Gadiaga gas field and to continue the exploration of the Thies block. 

Eagle Ford acreage metrics skyrocketing.. Marathon acquires Eagle Ford acreage at ~$20,850/acre while most of the analysts report at $25,000/acre.. Read this to know how..

Marathon Oil reached a definitive agreement with Hilcorp Resources Holdings LP to purchase its assets in the core of the Eagle Ford shale formation for $3.5 billion. Hilcorp Resources Holdings is a partnership between affiliates of Hilcorp Energy Company and Kohlberg Kravis Roberts & Co. LP.
Hilcorp acreage acquisition highlights:

• ~141,000 net acres (217,000 gross acres) primarily in Atascosa, Karnes, Gonzales and DeWitt counties in Texas
• Resource potential of 473 mmboe
• Potential to book up to 100 mmboe of proved reserves by the end of 2011
• Potential additional 14,000 acres from tag-along and other leasing
• Approximately 90% operated with a 65% average working interest
• Current net production 7,000 boepd, 2011 exit ~ 12,000 boepd (80% liquids)
• ~ 80,000 net boepd by 2016.

$/acre is ~$20,850. Know how...

Value of Production and Undeveloped Acreage/Resources

• The current production of 7,000 boepd is valued at $560 million based on $80,000/boepd- an average metric of the oil focused deals according to Derrick Database.
• The remaining value of $2,940 million is assigned to undeveloped acreage of 141,000 or the resource potential of 473 mmboe. This $2,500 million puts the $/acre at $20,851 and leaves the resources at $6.22/boe.

Eagle Ford acreage metric is skyrocketing

This is the biggest deal in Eagle Ford Shale, in terms of deal value. Recently, KNOC clinched $1.55 billion Eagle Ford JV with Anadarko early this year. The acreage metric of Marathon deal is at a 49% premium compared to the KNOC-Anadarko deal which was at a 27% premium compared to the 2010 acreage metrics in Eagle Ford.

Source Documents

Marathon's $3.5 b acquisition of eagle ford shale

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Linc Energy acquires oil assets in Texas and Louisiana for $236 million

Linc Energy has acquired 14 oil fields consisting of 156 leases covering approximately 13,400 acres in the Gulf Coast Region of Texas and Louisiana, from ERG Resources LLC, at a purchase price of US$236 million.

Highlights of the acquisition:

-- Current oil production is approximately 3,300 barrels per day (over 1.1 million barrels per annum).

-- The immediate plan over the next 12 months is to increase oil production on the acquired fields with additional drilling and well optimisation so as to exceed 6,300 barrels per day (over 2.2 million barrel per annum) by the 4th Quarter of 2012.

-- The potential also exists for a significant increase in production from Enhanced Oil Recovery (CO2 flooding) which Linc Energy will be investigating over the coming 12 months.

-- Acquired fields contain Net Proven Reserves (1P) of 20.5 MMBO, and Net Proven and Probable Reserves (2P) of 22.3 MMBO.

-- These assets are cash flow positive on day one of the acquisition.

-- The Royal Bank of Scotland has commenced arranging minimal recourse debt financing to support the acquisition and the first year of capital expenditure for both the ERG assets and the previously acquired Rancher Energy Corp oil field assets in Wyoming.

Break-up of value paid for probable and proved reserves

• 1.8 MMBO of probable reserves are valued at $9 million based on $5/BOE (Data Sourced from Derrick Petroleum Services E&P Transactions Database)
• The remaining value of $227 million is allocated for proved reserves leaving the metrics at $11.07/BOE or $68,787/boepd, which is in line with the recent oil metrics.

A look at the Quarterly Metrics of the US oil deals

Source: Derrick Petroleum E&P Transactions Database

UK O&G Majors' Presentations - 2011

BP:
China’s energy future
2011 Statistical 60 Years Review


Shell:
March 2011 Investor Presentation
Goldman Sachs London 2011
Credit Suisse Energy Summit 2011

ExxonMobil:
2011 Analyst Meeting
2011 Business Model & Fundamental Strategies

ConocoPhillips:
Investor Presentation - June 2011
Investor Update - May 2011
2011 Annual Meeting of Stockholders
UBS Energy Conference 2011


TOTAL:
2010 Results and Outlook

Centrica Plc:
Annual General Meeting 2011

BG:
2011 Strategy Presentation

Nexen:
UBS Oil & Gas Conference
Investor Roadshow - May 2011
2011 Annual General Meeting

Chevron:
Tengiz Field Trip 2011
Eurasia Business Unit Overview
2011 Tengiz Field Trip - Europe, Eurasia and Middle East

ENI:
2011-2014 Strategy Presentation

Producing assets worth $11.3 billion up for sale. Nearly 51% of the assets are from the US and Canada.

The Deals-in-Play report from Derrick Petroleum Services is a must-have for business development professionals working on oil and gas deals. The report provides information on approximately 250+ Assets for sale, Corporate M&A opportunities, JV opportunities and Exploration farm-ins. The deals have been categorized according to the value range: $1,000-$10,000 million, $500-$1,000 million, $100-$500 million, $25-$100 million, $5-$25 million and less than $5 million.

Here is the sample of the report pertaining to only producing assets worth around $11.335 billion. The data for this report has been sourced from the Derrick E&P Transactions Database.

Highlights

1. Total value of the assets- $11.335 billion

2. Value by Region:

• United Kingdom- $3.93 billion (~$3 billion worth of assets available from ConocoPhillips’ $5-10 billion divestiture program)
• United States - $3.06 billion
• Canada- $2.77 billion
• Vietnam- $1.5 billion
• Colombia- $77 million

3. Value by Hydrocarbon:

• Oil- $3.3358 billion
• Gas- $3.046 billion
• Oil+Gas- $4.931 billion

The assets from the US and Canada account for nearly 51% of the total deal value. Inspite of the high oil prices and low gas prices, the breakage between oil and gas deals is 50:50.

Top Billion Dollar Deals-in-Play

Top Deals-in-Play in the US

Top Deals-in-Play in Canada

For more information on the report, do write at anitha.bharathi@derrickpetroleum.com