M&A, and Divestitures in the Oil and Gas Industry

STARTS 6:00 PM Central Time (US and Canada)

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https://us06web.zoom.us/j/85795024523

Meeting ID: 857 9502 4523

The state of mergers, acquisitions, and divestitures in the oil and gas industry reflects a dynamic landscape influenced by various factors both globally and within the United States. 

In the upstream segment, oil and gas majors have been actively pursuing acquisitions, with notable players like Exxon Mobil, Chevron, and Occidental Petroleum leading the charge. These acquisitions, which accounted for a significant portion of total deal value in the energy, natural resources, and chemicals sectors, have primarily focused on securing assets in strategic locations such as West Texas, North Dakota, and Guyana's coast.

The midstream and downstream segments are witnessing a mix of consolidation and strategic divestments, particularly in response to evolving market dynamics and regulatory shifts. Mergers and acquisition deals, however, face hurdles due to valuation gaps and uncertainties surrounding capital returns from existing investments.

Globally, the oil market outlook is characterized by cautious optimism amid ongoing OPEC+ production cuts, leading to reduced forecasts for global oil production growth in 2024. This reduction in growth, coupled with falling inventories, is expected to drive up Brent crude oil spot prices. In the United States, retail gasoline prices are projected to rise, largely driven by higher crude oil prices, while natural gas prices are expected to remain relatively low.

On Monday, April 15 2024, we will bring together insights from the Federal Reserve Bank and leading experts in energy and finance to discuss the unfolding dynamics and the transaction opportunities they present. | Godswill Nwankwo 

PROGRAM

LOCATION | Polsinelli Law Firm | 1000 Louisiana St #6400, Houston, TX 77002- Wells Fargo Building

Fashion Show & Networking 5pm -6pm | complimentary heavy hordeurves from Hijoles Frijoles  with Tequila sponsored by Blue People  | Benefiting www.careergearhouston.org 

PROGRAM WITH SPEAKERS 6pm-8pm | Vodka Lounge | Sponsored by G3O Vodka. 

AFTER THE MEETING:

Deal Source Happy Hr 8pm-11pm |  Reserve 101 | 1201 Caroline St STE 100, Houston, TX 77002 

Program 

6.00 Rey Trevino | Director of Operations Pecos County Oil & Gas - Introductions 

6.05 - 6.15 Keynote | Jesse Thompson | Senior Business Economist | The Federal Reserve Bank 

6.15 - 6.30 Speaker | Chris Hosek | Managing Principal | Texas Star Alliance  Energy Solutions 

6.30 - 6.40 Speaker | Christopher Cottrell | Shareholder | Polsinelli

6.40 - 6.50 Speaker | Dr Nnaemeka Onyeka Obiaraeri FICA, MIRA 

6.50 - 7.00 Speaker | Michael Morgan | Senior Principal | Houston Valuation & Advisory 

Speaker | Robert Gay | Managing Partner  | Otos.io

7.00 - 7.10 Speaker | Adriana Sauceda | Manager Valuation | Moss Adams 

7.10 - 7.20 Speaker | Amy Henry JD CPA  | CEO | Eunike Ventures

7.20 - 7.30 Speaker | Godswill Nwankwo | Managing Partner | Betaford

7.30-8.00pm Fireside style panel with  discussion audience participation welcome & encouraged 

MC | Mark Hamzat O. Erogbogbo | Chairman Energy & Natural Resources Special Interest Group | Associate Texas Star Alliance

Deal Source Happy Hr 8pm-11pm |  Reserve 101 | 1201 Caroline St STE 100, Houston, TX 77002 | Heavy Hordeurves. 

Moderator | Rey Trevino | Director of Operations Pecos County Oil & Gas 

Rey Trevino III is the Director of Operations at Pecos Country Operating and is second generation oil and gas. Their family office is in Fort Worth, TX and with over 60 years combined experience Rey and his family have drilled and completed hundreds of wells across southwest America.”

Keynote | Jesse Thompson | Senior Business Economist | The Federal Reserve Bank 

Jesse Thompson serves as senior business economist at the Houston Branch of the Federal Reserve Bank of Dallas.

Thompson, who joined the Bank in 2010, performs research and analysis on issues affecting the Houston and Gulf Coast economy. In particular, he studies issues surrounding area hydrocarbon industries. He also collects information for the Dallas Fed’s Beige Book summary of current economic conditions. He is author of the monthly Energy Indicator and Houston Economic Indicators. He also contributes to the publication Southwest Economy.

Thompson earned an MA in economics, with emphasis on empirical microeconomics, and BA in philosophy and economics from the University of Houston.

Speaker | Chris Hosek | Managing Principal | Texas Star Alliance  Energy Solutions 

Chris Hosek is a principal of Texas Star Alliance, specializing in direct lobbying and state agency relations. Chris has experience with a broad range of legislative issues and policy initiatives including a specific expertise in the energy sector. Chris served as the chief of staff for 5 years to the Chair of the Railroad Commission of Texas. The Railroad Commission is the regulatory body that oversees Texas’ energy industries including all levels of the oil and gas industry, pipeline safety, gas utility rates and the permitting and reclamation of coal and uranium mines.

Prior to his work at the Railroad Commission, Chris served as the legislative director in the Texas House of Representatives for the 78th and 77th sessions. Chris served as the committee aide to the Appropriations Committee, responsible for drafting the state’s two-year budget. He also served as a committee aide for a member on the House Energy Resources Committee, where he received his background in the energy field. Chris served in various roles for elected officials where he managed and developed legislative issues. Other committees experience includes the Urban Affairs Committee and State Recreational Resource Committee.

In addition to serving the legislative needs of his clients, Chris’ involvement with the community is robust. Chris was appointed to serve on the Interstate Oil and Gas Compact Commission, a multi-state government entity that is viewed as the authority on domestic oil and gas issues. Chris has also served as an Urban Transportation Commissioner for the City of Austin.

In addition, he sits on the board of Ballet Austin and is a Board Member for the Lone Star Success Academy, which improves the lives of troubled, at-risk, and vulnerable Texas youth by offering an alternative education.  He serves as a Trustee for the American Council for Young Political Leaders, a Washington D.C.-based organization that implements unique international exchange activities for political leaders worldwide. He is active in the Texas State Alumni Association and the Phi Delta Theta Alumni Association. Chris and his wife, Chandra, live in Austin, Texas.

Speaker | Christopher Cottrell | Shareholder | Polsinelli

Christopher Cottrell is a shareholder with an impressive track record in strategic transactions within the energy and infrastructure sectors. Chris continually demonstrates his ability to deliver superior legal solutions.

His expertise has not gone unnoticed. Chris has received recognition from leading publications, including a listing in Best Lawyers in America: Ones to Watch in Corporate Law and Oil and Gas Law (2023), Texas Monthly: Rising Star (2022), and The Legal 500 US: Energy Transactions (2021). These accolades highlight his standing as a rising force in the industry.

Before joining the firm, Chris honed his commercial skills at Hilcorp Energy Company and amassed considerable legal experience at a major global law firm. Here, he successfully led numerous significant transactions on behalf of public, private, and private equity-backed clients across an array of industries. These spanned from energy and infrastructure, oil and gas exploration and production (E&P), royalties, minerals, midstream, oilfield services and equipment, to the hospitality and technology sectors.

This rich tapestry of experience enables Chris to understand the nuanced needs of the most sophisticated clients. As a result, he excels at finding innovative and practical legal solutions that meet their specific business objectives. His unique blend of legal acumen, industry knowledge, and dedication to client service make Chris an invaluable asset to any team and a trusted advisor to the firm’s clients

Speaker | Godswill Nwankwo | Managing Partner | Betaford 

Godswill currently works with his team and affiliates to build and deploy sustainable operational and financial strategies that are geared towards growing value in the short and long term at Betaford. He has a multi-cultural work background in oil and gas and has previously worked for Schlumberger, Halliburton, Baker Hughes INTEQ, and several national and multi-national companies, both overseas and domestic.

Godswill has a Bachelor’s degree in Mechanical Engineering with specialization in Computational Fluid Dynamics (CFD) from Rivers State University in Nigeria. He also has a Master of Science (MSc) degree in Computer Science with specialization in Cognitive Artificial Intelligence from Texas Southern University in Houston, Texas. Godswill also acquired a Master’s degree in Business Administration (MBA) in Finance with specialization in Private Equity and Investments from the University of Houston CT Bauer College of Business in Houston, Texas.

Speaker | Michael Morgan | Senior Principal | Houston Valuation & Advisory 

Michael Morgan is principal consultant at Houston Valuation & Advisory LLC, based in Houston, Texas, where he specializes in valuing economic interests in private closely-held businesses in a broad range of industries.  He also provides investment advisory and M&A services to non-public companies and has provided economic damage calculations and valuation report critique services in support of the resolution of legal disputes.  

Mr. Morgan also has over 25 years of experience in advising energy company executives on achieving high decision quality by maximizing the value of oil and gas investments throughout the value chain – from exploration and exploitation to refining and retail marketing.   He has participated in the development of asset development plans and internal investment approvals for large-scale major capital projects in Latin America and West Africa as well as large-scale unconventional developments in the United States.  He has also conducted training sessions on lease bid negotiations and major capital investment decision making with executives and middle management of multiple NOC representatives.

Mr. Morgan is accredited in business valuation and intangible asset valuations by the American Institute of CPA’s.  He has also received the designation of accredited senior appraiser by the American Society of Appraisers (ASA) and is designated by the ASA as an expert in reviewing the appraisal reports of other business appraisers.  In addition, he is a certified public accountant, licensed to practice in the state of Texas.

He has a bachelor of science degree in business management and a master of business administration.

Speaker | Amy Henry | CEO | Eunike Ventures 

Amy is the CEO/Co-Founder of Eunike Ventures and Lambda Catalyzer, angel investor, TiE Houston board member, principal of TiE ATX LLC (Angels of Texas), and co-founder of Texas Innovation & Entrepreneurship Foundation.

Amy was named by the Houston Chronicle in 2019, “Women Who Take the Lead in Building Houston’s Tech Ecosystem” (related to the launch of Eunike Ventures).  Eunike was listed in 2022 as the ‘Top 6 Accelerators/Incubators Investing in Houston’ and the ‘Top 11 Best and Most Active Accelerator in Houston’.  
 

Eunike Ventures, Inc., headquartered in Houston, Texas USA is a first of its kind global energy venture builder /hybrid energy technology accelerator that works with innovative, technology companies through commercialization, across the entire Energy value chain.  Eunike serves a unique gap in the global innovation system by bringing together energy companies, expert talent, and best of breed startups. This new open innovation model of ‘Realizing the Entrepreneurial Spirit’ focuses on entrepreneurs, energy companies, paid pilots, and smart capital.

Amy has worked globally in the energy industry with/for organizations such as Petronas, Royal Dutch Shell (Gas & Power; Shell Upstream International, Shell E&P Technology & Research, Shell Technology Ventures), Ernst & Young LLP and Arthur Andersen.  

Amy is a frequent speaker on energy issues as it relates to technology & innovation, investment and the changing landscape, technology adoption/acceleration, and realizing the entrepreneurial spirit.  She was awarded TiE Global’s “Best TiE University Mentor” in 2021/2022.
 

EDUCATION & CREDENTIALS

Texas CPA: Licensed 1995  

PGDip, Financial Strategy, Oxford University UK, 2008  

J.D., Corporate/Tax Law, Albany Law School New York, 2000

B.B.A., Accounting, University of Houston, 1993

Speaker | Robert Gay | Managing Partner  | Otos.io

Robert W. Gay founded Otos in 2017, following more than three decades experience in quantitative equity analysis. Otos is an independent provider of fundamental corporate performance metrics assembled from historical financial statements using a patented data-mining procedure and a managed taxonomy map.

The taxonomy map facilitates the creation of measures of corporate performance that are free of distortions related to changing corporate structure, changing accounting policies and variations in line-item definition through time. Accurate performance metrics allow the creation of company specific decision criteria by identifying those metrics that have a high degree of correlation with the share price over the record of the company. 

From 1987 to 1996, Mr. Gay was Vice President and Director of Quantitative Research at Donaldson, Lufkin and Jenrette, in New York, where he developed the database and software for the RISK decision process and marketed it as a custom quantitative service to investment institutions. Mr. Gay was selected to Institutional Investor Magazine’s All-American Research team each year from 1990 through 1995. 

Earlier, during his 1981-1987 career as quantitative analyst at Dominion Securities Ltd. in Toronto, Mr. Gay developed the Price of Growth process for Canadian equities. Price of Growth is an innovative time-series oriented equity investment decision-making tool based on equity yield and growth spreads.  It was the top-ranked Canadian quantitative research product in the Financial Post’s Brenden Wood analyst’s poll from 1984 to 1987.

Born in Lynn Lake, Manitoba, Mr. Gay graduated with high honors in economics from the University of Saskatchewan.  He also holds a Master of Arts degree in economics from the University of Western Ontario and is a Chartered Financial Analyst (CFA). 

Speaker | DR NNAEMEKA ONYEKA OBIARAERI, FICA, MIRA                      

Dr Nnaemeka Onyeka Obiaraeri, FICA, MIRA is a Certified Financial Engineer/Investment Banking Executive with broad experience/skills in all aspects of Equities & Debts Origination, Structuring, Execution, Syndication and Distribution; Project Finance; Correspondent Banking; Structured Finance; Securities Trading &Treasury Management; Financial Advisory; Portfolio Management; Micro, Small and Medium Enterprise Financing and Private Equity Funds Management (Managed funds/portfolios in excess of USD65million).

Diverse and direct experience/involvement in Capital Raising exercises in excess of  US$3billion for Corporate Organizations and Governments in the local and international capital markets. Nnaemeka has special interests in early-stage start-ups (Greenfields) as well as companies “on the bubble.”

He is an alumnus of Abia State University, Nigeria, from where he graduated at the top of his Class and Faculty [Faculty Scholar and VC Awards Winner ] with a BSc. Honours Degree in Banking & Finance. 

He also holds advance degrees and certifications from Leeds Metropolitan University, United Kingdom and Harvard Kennedy School of Government, Harvard University, Cambridge MA, USA.

Nnaemeka is has participated in Key Financial and Power Sector Funding  trainings of the Euro Money Training, UK and Siemens Germany.  

He was a member of the four man Federal Government of Nigeria delegation to South America in 2006 on a study tour of MSME financing in South America and also the Founder/Facilitator of the International Institute of Micro-Finance and Small Business (Africa/Middle East). 

Nnaemeka is the Founding Executive Secretary of the Africa Education Funding and Development Support (AFREFUND).

He is also founding Executive Secretary of the International Institute of Microfinance and Small Businesses ( Africa/Middle )

He is also the Founding Group Chairman of the South East Farms and Agricultural Processing Company Limited (SEFAPCOL). www.sefapcol.com. An Integrated and all streams Agro processing company which has established  chains of agro processing  factories and runs the biggest Agropark,  in Ohafia, Abia State,  the South East of Nigeria 

Speaker | Adriana Sauceda | Manager Valuation | Moss Adams 

Adriana has provided financial advisory services since 2016. She has experience providing valuation and consulting services, as well as restructuring and litigation support.

Adriana’s valuation experience includes ASC 820 business valuation, ASC 805 intangible asset valuation and purchase price allocation, ASC 350 goodwill impairment analyses, and ASC 718 complex securities valuation. 

Prior to joining Moss Adams, Adriana was a valuation control manager for a commodity trader, where she specialized in energy markets including crude oil and refined products, power, and carbon emissions offsets. In addition, Adriana worked as a business analyst for an oilfield services company. 

Mark Hamzat O. Erogbogbo | Chairman Energy & Natural Resources | The FENG | Associate | Texas Star Alliance  

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Sponsor | Texas Star Alliance