The Press Club of Dallas and SMU Journalism hosted a mobile video workshop on Saturday, April 16, 2011. Here are the presentation slides delivered by SMU professors Jake Batsell and Michele Houston.
The Press Club of Dallas and SMU Journalism hosted a mobile video workshop on Saturday, April 16, 2011. Here are the presentation slides delivered by SMU professors Jake Batsell and Michele Houston.
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Presentation by Louisiana Oil & Gas Association Marketing Director Ben Broussard to the AESC in Lafayette, LA on March 24th, 2015. Contact Ben for more info:
ben@loga.la
www.loga.la
Twitter @LaOilGasAssoc
Facebook.com/LouisianaOilGasAssociation
June 27, 2012
A special session will be held in the morning on Legacy Lawsuits “The Limited Admission Legislation” – assuming the legacy legislation makes it through the legislative process. This 3-hour session will give those involved in Legacy Lawsuits a detailed analysis of the legislation that was passed and instructions on how defendants should move forward and navigate the waters. We will have speakers available for a Q & A panel following the presentation. You do not want to miss this event.
LOGA VP Gifford Briggs speaks to the Louisiana Association of Chamber of Commerce Executives about the Haynesville Shale and the fuel of the future, Natural Gas
NOIA (National Oceanic Industries Association) President Randall Luthi's presentation to the LOGA Annual Meeting on Tuesday April 5th, 2011 at L'auberge Du Lac in Lake Charles, LA.
www.loga.la
www.twitter/LaOilGasAssoc
www.facebook.com/LouisianaOilGasAssociation
EXCO Resources VP & COO Hal Hickey's presentation to the LOGA Annual Meeting on Tuesday April 5th, 2011 at L'auberge Du Lac in Lake Charles, LA.
www.loga.la
www.twitter/LaOilGasAssoc
www.facebook.com/LouisianaOilGasAssociation
IPAA Chairman and Swift Energy President Bruce Vincent's presentation to the LOGA Annual Meeting on Tuesday April 5th, 2011 at L'auberge Du Lac in Lake Charles, LA.
www.loga.la
www.twitter/LaOilGasAssoc
www.facebook.com/LouisianaOilGasAssociation
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
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https://seribangash.com/article-of-association-is-legal-doc-of-company/
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https://seribangash.com/difference-public-and-private-company-law/
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While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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1. State of the Industry:
Louisiana
Wednesday May 1st, 2013
Ben Broussard
Director of Marketing & membership Development
Louisiana Oil & Gas Association (LOGA)
6. Average North LA Rig ActivityAverage North LA Rig Activity
2000 - 20122000 - 2012
7. Haynesville
Shale
#1 Producing Natural Gas Field in US
$14 Billion Est. Economic Impact in 2012$14 Billion Est. Economic Impact in 2012
60,000 Plus Jobs Supported by Shale in 201260,000 Plus Jobs Supported by Shale in 2012
1,700 Plus Producing Wells1,700 Plus Producing Wells
2,207 Units as of 12/15/112,207 Units as of 12/15/11
8. Since October 2008, almost 2,200 wells haveSince October 2008, almost 2,200 wells have
been completed in the Haynesvillebeen completed in the Haynesville
9. The big winnersThe big winners
•Petrochemical
Industry
•Industrial
•Consumers
•Power Generation
10.
11.
12. Revolutionary Impact
on LA Manufacturing
•Statewide Impacts:
•More than $26.7 billion in economic output over a nine-
year period (2011-2019)
•A cumulative increase of some 193,069 job-years
•$9.4 billion increase in wages over a nine-year
construction period.
•Regional Impacts:
•Over $20 Billion in output
•143,000 in job-years
•$6.5 billion in wages
13. Brown
Dense
Companies in The Dense
-Devon
-Southwestern Energy
Predominately North East Play
Very early stages of development
depths rage from 8,000’ to 11,000’
33. Hydraulic Fracturing
First commercial “frac” job was
conducted in 1947
States regulate hydraulic
fracturing
More than 1 million wells had
been completed using this
method by 1988
Estimated that nearly 85% of
wills drilled today are completed
using hydraulic fracturing
Multiple federally funded studies
have shown that there is no risk
associated with hydraulic
fracturing
39. Revenue Neutral
The Devil is in the
details
Corporate Income Tax
Personal Income Tax Sales Tax
Exemptions
$2.92 Billion Eliminate/Change
468 Exemption
Oil/Gas 23
Increase Sales TaxRepeal
Introduction: Ben Broussard, Louisiana Oil & Gas Association LOGA is a 20 yr old organization that represents the independents & service companies, working to create an environment in Louisiana where companies are encouraged & incentivized to work & drill here. Our membership consists of over 1,650 member individuals from all ends of the spectrum - all have a vested interest in the success of Louisiana ’ s industry. We will cover: Louisiana ’ s resources & state of activity / rig counts economic impacts of emerging plays new technologies State & federal Issues Making sense of it all
Many parts: -Haynesville: NW portion of state into TX -Tuscaloosa Marine Shale (Louisiana EagleFord): Central LA -Brown Dense -Conventional land -State & Federal Waters
As a nation we are currently sitting at 1754 active rigs. -Down 191 from last year We ’ ve come a long way from the early 1980 ’ s: -Height of 3974 *S. LA had presence of all of the majors *115 rigs running in S. LA alone... Depths: 1999 - The year I graduated high school. Great year for Reg UNL to be .99/gal. Yikes.
Lets take a look around the state & try to understand why things are the way that they are: -new Haynesville activity in Bossier Parish - Drillers BHP Billiton reported new drilling in Bossier ’ s Elm Grove Field. -Anadarko began completion of their well in the Caddo Pine Island field, taking one rig offline for now. -Desoto Parish stands alone in Louisiana with 15 active drilling projects -Red River parish 9 projects *Encana, BHP Billiton, Shell & BMR Oil & Gas.
(Incorrect numbers for Red River & DeSoto) Lincoln: Wildhorse Resources in several fields - all 3 rigs Union: Southwestern in Brown Dense Webster: XTO
As of April 17th, 39 rigs in N. LA , down from a height of 143 in July 2010. Avg now sitting at 57. Not many of us were interested back in 1992 when there were (yes) 5 rigs running in N. LA. Fluctuations dictated by market prices... Market is king. When the market is good, its good - evidenced by 2008-2012 activity (Haynesville)
Thanks to the Haynesville & other natural gas shale plays - America is sitting on a 100-yr reserve of Natural gas. (Bring in other chart) -Haynesville leads the production charge - #1 producing natural gas field in the nation in 2012 - 10 yr supply GAS for US . -Economic boon w/ impact, jobs & development -Total $40B in direct & indirect economic growth (5 parishes alone)
Since 2008, more than 2,435 wells have been drilled & 2,195 have been completed and are producing wells. Do the math on that: 2,435 wells drilled and 2,195 completed & producing. Thats a success rate of 90.1%. Ask any investor, thats great odds. Not done yet : CHK, BHP, Encana & newcomer Anadarko (among others) are still committed. Some have commitments to deliver natural gas, others are in search of NGL ’ s in the gas rich region.
We ’ ve got ALOT of Natural Gas: Natural Gas is to the Petrochemical Industry as FLOUR IS TO THE BAKER
sponsored by American Natural Gas Alliance and LOGA Study says it all
sponsored by American Natural Gas Alliance and LOGA Study says it all
Quick touch on the Brown Dense (or Lower Smackover formation), Considered an unconventional oil reservoir underlying Claiborne, Union & Morehouse parishes / portions of S. Arkansas. -Est Depths btwn 8,000ft - 11,000ft Upper smackover has produced oil & gas for 90 years. Suggested that the “ Brown dense ” formation is the source rock for the upper smackover reserves and could be a viable play w/ all the modern drilling technologies utilized in other shale plays. Bottom line: Extremely early stages of development.. Not much is known about this. Southwestern: 460,000 acres
New one on the block. (Not new, we ’ ve always known about it.) Tuscaloosa Marine Shale / Austin Chalk - Suggested that TMS has same characterisitcs & geologic age as the eagleford shale in TX, thus the “ LA Eagleford ” moniker. Comprised of 2.7 million acres 3 rd attempt at this play: 1 st was the late wildcatter/& geophysical engineer Alfred C. Moore pioneered and led the first focused campaign to produce the formation in 1970 Initial test well results are very positive & encouraging, things look to be economical to produce. Still a bit early - not sure where the sweet spot is... Depths: -15,000ft - 19,000ft w/ TMS which can present some integrity issues w/ equipment @ such high temperatures. -In HS, first 2 years, companies got used to the deeper drilling - learned from barnett & applied to HS. Same scenario -Initial costs per well in the HS has gotten down to 8-12m/well, will be a bit more expensive because of the depths.
Area: As opposed to the 5-6 parish HS, we ’ ve got a swath here. Again, while both the TMS & Austin Chalk are considered in their early development stages, results are positive.
after a good bit of test drilling in 2012, Things have been really slow in there... Billy ’ s email*Vernon Parish. It was bound to happen: EOG Resources - Avoyelles Parish in Vick Field (NW). Good news - Rig up. Bad news - no waiting permits.
Another email - Damon: “ Why are things so historically low in S. LA? ” Happy to report - South Louisiana ended up gaining for the third week in a row and kept it - *Kash Oil & Gas rigged up in the Harmony Church field in Allen Parish this week *Smith Production who started up in Cameron Parish ’ s Little Cheniere field *Badger Energy who spud in Lafourche ’ s Golden Meadow field and drilled to 3,400ft *Clayton Williams spud in the South Chauvin field in Terrebonne Parish.
South LA Land has seen a steady decline from its heyday in the later 20th century (Early 80 ’ s: 100+ rigs in S. LA) Offshore uncertainty in 2010-2012 had a positive effect on S. LA land. Companies who couldnt afford to play offshore (smaller independents) chose to move onshore. S. LA is an OIL RICH area - which, with the prices we have ($108/bbl LLS), we should be seeing companies coming back to S. LA Land... However, we aren ’ t. 3 reasons S. LA land is struggling: -Competition with emerging shale plays -Investment climate - wall street moving away from conventional projects - Legal climate makes it expensive - Legacy Lawsuits
(Lead in to ULTRA DEEP) Fascinating - Ultra Deep well in Cameron Parish (Land Based) Chevron remains at 29,000ft and worked at making a detailed record of the ultra deep geologic formations - better known as logging. Highly expensive - $100m wells Davy Jones - 10ft water
Low hanging fruit - Shallow water Lots of natural gas. Enough to pay. Quick Note on Ultra Deep: SW LA is home to “ Davy Jones ” -Onshore & offshore play -potentially one of the largest nat res discoveries in decades -While being an on & off shore play, most wells will be drilled to depths greater than 22,000ft (5+ miles!) - up to 6.0 Tcf of natural gas -Until this, shallow water gulf seemed to have all the low hanging fruit picked... -Further exploration will depend on nat gas prices - could be a major boon to drilling contractors & service companies in S LA.
Inland water - One of the brightest spots in Louisiana ’ s industry. -Gulfport Energy -Apache -Swift -Energy XXI -Hilcorp -Manti -EPL -Helis
Inland water is seeing a positive trend as well. Up to 23. -one of the strongest segments of LA ’ s oil & gas industry Down to 9 in 2009 - Height of shale boom, much of the industry turned to Natural Gas. Good news: Healthy bit of the permits being issued each week are for S. LA.
Finally, OCS federal waters were steady as well, holding out at 44 active deepwater projects - 52 if you count the workover activity. Deepwater: Anything deeper than 500ft water. Deepest active project, you may ask? Its the Petrobras Chinook rig at Walkers Ridge Block 425 in water depths of 8,843ft.
Interesting to see where we came from when averaging 148 rigs in the GOM. Business is creeping back up. With gas prices so volatile and hinging on our dependence on foreign countries who, quite frankly, could care less about us or our “ western ways ” , we expect the eastern GOM to eventually be opened. Good news there is that South LA will stand to provide the service, expertise & infrastructure to properly explore.
We could sell the GOM all day long...
Access remains the #1 issue:
Another issue, hitting more closely to home is the Rigs to Reefs issue.
Why all of the changes over the past 5 - 10 years? With finite equipment & resources – we as an industry are competing with each other. -Not the same Gulf Coast / GOM industry of the 1950 ’ s. Coupled with the conventional plays of yesteryear, we now have the unconventional plays: Economics are different in each Haynesville: 10,000 - 12,000 ft deep TMS: 15,000 - 19,000 ft deep Different technical & mechanical issues for each depending on the depth & geology Some are gas, some are oil. Economy driven exploration at its finest.(END)
Not only do we have this seemingly brand new landscape of exploration potential, we have new technology with it. Hydraulic Fracturing has brought these changes on. -Nationally speaking, its a huge issue - fairly controversial (DO NOT EXPLAIN HF YET...)
Hotly contested. Lots of misinformation. Lovers & haters on both sides of the story.
Reason for all of this activity & the drastic changes you ’ ve seen in the domestic industry is HYDRAULIC FRACTURING -HF is a highly technological innovative process where a mixture of sand, water & a small amount of chemicals are pumped downhole at very high pressures to effectively fracture or break the shale rock open and allow produced gas & oil to flow to the surface. Estimated that nearly 85% of wells drilled today are completed using hydraulic fracturing
Currently states regulate HF. We ’ d like to keep it that way.
Issues : Liberal push for regulation to be moved to EPA rather than various state agencies. -Current EPA study underway -We expect it staying in hands of state -LA has new HF disclosure regulation -every well w/ HF, companies are required to disclose chemical component of HF Fluid on publicly accessible database. -Enacted Oct 20th, 2011 - Viewed at FracFocus or through SONRIS -Less a response to public outcry & more following suit w/ other states, companies being proactive We have nothing to hide. 99% of Frac fluid is water. Marcellus: Bans, outcry. Ohio: earthquake fears... Preliminary study by EPA is full of holes. -Range Resources fines by EPA - after final analysis, EPA found Range was not liable. EPA tends to be overreactive. Here in LA: Beaureguard/Vernon parish police jurys.
Hwy 175 in DeSoto Parish... First time I noticed the piping strewn into peoples front yards. Takes a lot of water to frac a well. LA Drought over summer/fall 2011 created integrity issue w/ groundwater wells (Carizzo/Wilcox - drinking water) Significant drop in availability of carrizzo wilcox, some wells went dry in S. Caddo parish. Sparked a lot of concern: Is industry depelting water supply? (END)
LA Atty Gen recently opined on the issue. Not law , simply stated that “ running waters of the state belong to the state & there is a constitutional provision against gratuitous donations of state resources. -Agriculture & aquaculture do not pay for water SO... If industry wants to use water, they ’ d need to enter into a cooperative endeavor agreement with the state & agree to 1. pay fair market value for water or 2. explain economic development (Severance taxes - local taxes - etc) that state is receiving as benefit Bottom line is: We (Industry) need the water, this is what the state will get (large tax revenues) **** The benefits far outweigh what the state gives, thus it is NOT a gratiutous donation. Hopefully those in charge can see with objective eyes. Some have suggested that this is more of an attempt to plug budget holes - though state wouldn ’ t make any money with it at current fair market value. Some think this is that this would set the stage for a larger groundwater management resources program within the state that will eventually be a money maker. Economic Development & Incentives (Movie Industry - same w/ O&G) Enough about that... --END--
Be one of the larges industry in the US and the state, brings with it many challenges
Finally the question remains: What to do with all of this gas? -Drive with it. *CNG Movement -Heat homes with it. *Thats all we got? Gas is below 3/mcf... -Make power with it *coal plants currently follow grandfathered federal EPA Standards, would be subject to newer more stringent ones if plants were retooled. Money is there... -Feedstock to PetroChemical industry *Big part of it... -Export it. *Cheniere is moving forward with plans to expand Cameron operations & a new LNG export plant in San Patricio County, TX, near Corpus. *LA project 1st phase will cost $5B, Texas roughly $7.5B. How about that? Natural gas as an american export. For all the things we buy from other countries... (Just walk around Wal-Mart) Locally (Lafayette)... We ’ re pumped..
Lafayette is already on board... -12 buses since January 2012 -Until a few months back, driving to Baton Rouge to fill up...
LOGA is on board... We can ’ t just talk the talk, we gotta walk it too. 2011 Ford Expedition Conversion package - roughly $10k -State of LA 50% tax rebate on conversion Efficiency: 16mpg, same as regular gasoline Two 4.6 gal tanks on this one...
So I get 16mpg, same as gasoline? And its cleaner burning, less emissions, abundant, and best of all AMERICAN? (Click mouse) This is the best part... WHY IS IT SO CHEAP?
This. The game changer. Hydraulic Fracturing, allowing us to move closer to energy security & independence.
Quick plug: If you don ’ t receive it already, check out LOGA ’ s drilling report, produced weekly. Keeps you up to date on a lot of the info I covered here today. -Rig Counts -State & Federal permits
In closing: Louisiana is still & always will be the energy state. LOGA will fight for the industry as long as we are breathing. Its an industry that will always have a target on our backs - but look at us? The largest economic driver in Louisiana - better jobs, higher pay, vital to transportation & national security. Rain or shine, We ’ re not going anywhere. I ’ m Lafayette born & raised (and hopefully never leaving), but admittedly very blessed to not have to move out of state to get a good job to support my wife & two boys. I ’ m hoping that our industry will not just survive but thrive & keep more jobs here for the high school & college grads to come. Questions?