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U.S. crude oil, NGL and gas markets have entered a new era. Exports now dominate the supply/demand equilibrium. These markets simply would not clear at today’s production levels, much less at low rates coming over the next few years, if not for access to global markets. It is more important than ever to understand how the markets for natural gas, NGLs and crude oil are tied together, and how the interdependencies between the commodities will impact the future of energy supply, demand, exports and ultimately prices. Making sense out of these energy market fundamentals is what RBN’s School of Energy is about.
Now we have extended our traditional U.S. coursework with new international content and models. You will learn not only what is driving U.S. exports, but where those exports are going, and why.
And there’s more! This year, School of Energy has been restructured so that Day 1 is all about Fundamentals, with everything you’ll need to understand the inner workings of energy markets. Day 2 is focused primarily on North American oil, gas and NGLs with breakout sessions that concentrate on models and market drivers. Day 3 is about export markets, and how exports will change markets in North America.
RBN’s Latest U.S. Curriculum
PLUS New International Content and Models
October 15-17, 2019The Houstonian 111 North Post Oak Lane Houston, Texas 77024
Tuesday, October 15 8AM – 5PM (Cocktail reception)
Wednesday, October 16 8AM – 5PM (Cocktail reception)
Thursday, October 17 8AM – noon
2© Copyright 2019 RBN Energy, LLC Revised: 10-7-19
Making Connections Across Energy MarketsIn RBN’s highly respected blog, industry conferences and consulting practice, we explain the how and why of the most important developments in the markets for crude oil, natural gas and NGLs.
At the School of Energy, we bring this perspective to an intense two-and-one-half-day curriculum of energy market fundamentals. Your instructors will apply down-to-earth, understandable concepts, real world examples and usable economic models toward the goal of understanding energy markets.
School of Energy Fall 2019 is all new and expanded into three segments:
Day 1 Energy Market Fundamentals (EMF) covers the basics of fundamentals analysis, including terminology, market evolution, the nuts-and-bolts of oil and gas production, the pipeline transportation grids, natural gas processing, demand sectors and the essentials of spot markets and trading. EMF is optional. You can register for EMF only, you can skip EMF all together, or register for EMF together with the remainder of the conference. Five models are included with the EMF sessions
Day 3 (Half Day) International and Exports. With a strong foundation in U.S. markets on Day 2, we move to international markets and exports on Day 3, considering export dock capacity, export economic relationships, and destination markets. Day 3 will also provide the opportunity for you to catch up with modeling sessions that you were not able to attend on Day 2.
Day 2 U.S. Crude Oil, Natural Gas and NGL Markets. The curriculum for Day 2 drills down into all of the current developments in U.S. energy markets. In the morning plenary session, we will review RBN’s forecasts for crude, gas and NGL markets, examining supply/ demand balances, infrastructure constraints, and pricing differentials. The afternoon will split into three tracks, with one focusing on the most important market issues in each of the commodity groups, while the other two tracks focus on specific models – how to use them and interpret their results.
DiscounteD LoDging:
RBN Energy has reserved a limited number of rooms at The Houstonian
for a discounted rate of $229 per night, not including taxes.
This rate will be honored through september 23, 2019 depending
on availability.
Hotel reservations must be made directly through The Houstonian.
Book using this link to receive our group rate, or mention
group code: 1583914 when booking.
RegisteR Now! www.rbnenergy.com/school-of-energy
Early Bird Full
Day 1 $995 $1,150
Day 2–3 $2,125 $2,495
Day 1–2–3 $2,695 $3,195
REGISTRaTION FEES
Early Bird rate ends on September 26, 2019
Phone: 888-612-9488Email: [email protected]
3© Copyright 2019 RBN Energy, LLC Revised: 10-7-19
Rusty Braziel, CEO, RBN EnergyPreviously with Bentek Energy, Texaco (Chevron), Williams, Altra
Jason Ferguson, Manager, Energy Fundamental Analysis, RBN EnergyPreviously with Koch Energy Services, Shell and ExxonMobil
Martin King, Senior Natural Gas AdvisorPreviously with Bank of Canada, National Energy Board in Calgary and FirstEnergy Capital Corporation
Sheetal Nasta, Fundamental Energy AnalystPreviously with Bentek Energy and Platts
John Hall, Senior NGL and Natural Gas AdvisorPreviously with Tenaska Capital Management and Northern Natural Gas
John Zanner, Manager, Energy Fundamental Analysis, RBN EnergyPreviously with Rocky Mountain Crude Oil and Twin Eagle
Lindsay Schneider, Senior AnalystPreviously with Wood Mackenzie and Exelon
Simon Hill, Chief Operating Officer of Energy Trading Analytics, Inc. (ETAI)Previously with Petredec, Texaco (Chevron), BNOC
TJ Braziel, Director of Client ServicesPreviously with Bentek Energy, Genscape, and RigData
David Braziel, EVP, COO, RBN EnergyPreviously with Direct Energy and Apache Corporation
Rick Smead, Managing Director, Advisory Service, RBN Energy Previously with Navigant, El Paso Pipeline Group, Colorado Interstate Gas Company
Kelly Van Hull, Managing Director, Energy Analytics, RBN EnergyPreviously she held roles at Bentek Energy and Saddle Butte Pipeline
We are honored that astronaut Terry Virts will join us as our luncheon keynote speaker on Day 1. Colonel Virts (retired) is a U.S. Air Force test / fighter pilot and NASA veteran of two spaceflights – a two-week mission onboard the Space Shuttle Endeavour in 2010 and a 200-day flight to the Space Station in 2014-2015. He is a celebrated thought leader, speaker and author who is currently working on multiple projects, including a new book and television series. He also is an avid reader of the RBN blog!! Terry will speak about his missions and how principles from space travel and the U.S. space program are applicable to today’s energy markets. Following his remarks, Terry will be joined on stage by Rusty Braziel to discuss the intersections between space travel and energy.
Energy Market Fundamentals:
It is Rocket Science!
School of Energy International Faculty
4© Copyright 2019 RBN Energy, LLC Revised: 10-7-19
What if Energy Data could Organize Itself?Information overload!!!
We are all faced with a torrent of energy information, some incredibly important, much of it superfluous. What if you could receive only the data you need, updated in real time, available on your phone or other
mobile device, and organized so that the data most important to you is front and center?
That is what ClusterX is all about. It is a new way to receive, consume and understand energy data, news and other content. If this sounds interesting, plan to join us for breakout sessions where you
will get hands-on experience with our new energy information delivery system.
5© Copyright 2019 RBN Energy, LLC Revised: 10-7-19
Day 1: Fundamentals
MODULE 1.1: Analysis of Energy MarketsThe Shale Revolution and Drill Bit Hydrocarbons Fundamentals of FundamentalsUnderstanding Energy Fundamentals Models
MODULE 1.2: ProductionProduction Economics – The Basics Price Scenarios, Type Curves, and Investment Returns Well Cost, Production Rates, Decline Curves and Other VariablesProduction Economics and Forecasting
LaBModel 1.2.1 – Production EconomicsModel 1.2.2 – Production Forecasting
LUNChEON KEyNOTE: Col. Terry Virts
MODULE 1.3: Crude Oil Markets North America Crude Oil Market Overview
Oil Markets: Transportation Network, Hubs, Quality and Fundamentals of Refining
LaBModel 1.3.1 – Crack Spread
MODULE 1.4: Natural Gas Markets North America Natural Gas Market Overview
Gas Markets: Hubs, Transportation Network, Price Differentials
Rates and Regulation
Flow/Capacity/Basis Analysis
LaBModel 1.4.1 – Coal versus Gas EconomicsModel 1.4.2 – Gas Pipeline Rate Model
MODULE 1.5: NGL Markets North America NGL Market Overview
NGL Markets: Products, Processing, Fractionation
Transportation Network , Regional Price Differentials
LaBModel 1.5.1 – Frac Spread
All Modules Subject to Change
Curriculum
6© Copyright 2019 RBN Energy, LLC Revised: 10-7-19
Day 2 Morning: U.S. Crude Oil, Natural Gas and NGL Markets
MODULE 2.1: The Big PictureExports: The Revolution in U.S. Energy MarketsImplications for Flows, Capacity, Constraints, and Pricing
MODULE 2.2: RBN Crude Oil and Natural Gas Production ForecastsPrice Scenarios, U.S. Production TrajectoriesThe Drivers of Production: Associated vs. Non-Associated Gas, Wet vs. Dry Gas, Crude Oil Quality Differentials Implication of Price Change on Production Growth
MODULE 2.3: North America Crude Oil MarketsProduction, Crude Quality, Refinery CapacityPipeline Capacity and UtilizationExports: Dock Capacity, Projects, Outlook
MODULE 2.4: North America Natural Gas Markets Production, Demand, Pipeline Capacity and UtilizationExports: Liquefication Capacity, Projects, Outlook
MODULE 2.5: North America Natural Gas Liquids Markets Production, Demand, Processing Capacity,
Pipeline Capacity and Utilization
Exports: Liquefication Capacity, Projects, Outlook
afternoon Breakout SessionsTrack 1 (Presentation) Track 2 (Models) Track 3 (Models)
1:00 PM
2.6.1 Crude Quality and IMO2.6.2 Permian Crude Oil Market
2.7.1 Multi-Commodity Production 2.7.2 Econ. Model Refinery
Yield Model
2.8.1 Ethane Rejection Model2.8.2 Processing Plant Balance Model
2:30 PM
2.6.3 Permian Natural Gas Market2.6.4 Northeast Gas Supply/
Demand/Capacity
2.7.3 Crude Oil Selection/Blending Model
2.7.4 Crude Oil Pipeline Rate Model
2.8.3 Natural Gas Processing Economics
2.8.4 Cracker Petrochemical Feedstock Model
3:45 PM
2.6. 5 NGL Production by Basin2.6. 6 Permian NGL Processing and
Take Away Capacity
2.7.5 Natural Gas Flow Analysis (Northeast)
2.7.6 Natural Gas Netback Model
2.8.5 LPG Voyage Economics/Netbacks
2.8.6 ClusterX Data Access Technology
All Modules Subject to Change
Curriculum
7© Copyright 2019 RBN Energy, LLC Revised: 10-7-19
Day 3 (half day): International and Exports
MODULE 3.1: Drivers of U.S. Oil, Gas and NGL Exports
MODULE 3.2: Crude Exports and DestinationsExport Volumes and CapacityNew Export Capacity Projects – Winners and LosersDestination Markets and Economics
MODULE 3.3: LPG Exports and DestinationsPropane and Butane ExportsDock Infrastructure Projects and Market ImpactDestination Markets and Economics
MODULE 3.4: Canadian Crude and GasCanadian Crude Oil Egress Outlook, Pipeline ProjectsCanadian Natural Gas Egress Outlook, Pipeline ProjectsImplications for Exports to U.S.
MODULE 3.5: LNG Exports and DestinationsGas Supplies that Must Be Exported to Balance U.S. MarketLNG Export Capacity and ProjectsImplications for Exports from U.S.
MODULE 3.6: What It All Means
Makeup Model Breakout Sessions (Concurrent with International Presentations)
Track 1 (Models)
8:00 AM
2.7.6 LPG Voyage Economics/Netback Model2.8.4 Cracker Petrochemical Feedstock Model2.7.5 ClusterX Data Access Technology
10:15AM
2.7.2 Refinery Yield Model
All Modules Subject to Change
Curriculum