Energy Department Approves Freeport Natural-Gas Export Permit

WASHINGTON - The Obama administration on Friday cleared the way for broader natural gas exports by approving a $10 billion facility in Texas, a milestone in the U.S. transition into a major supplier of energy for world markets.

The decision shows how the boom in U.S. natural-gas production has caused a 180-degree shift in a key area of energy trade.

Five years ago, many companies built natural-gas import terminals, anticipating greater U.S. demand for imported fuel. Now a group of private investors that includes ConocoPhillips (COP) plans to turn one of those terminals--in Quintana Island, Texas--into an export facility to ship natural gas to Japan and other nations. The project, known as Freeport LNG, is expected to require more than $10 billion in investment, according to the owners.

In giving Freeport the green light, the Department of Energy signaled that it found the prospective benefits from exporting energy outweighed concerns about possible downsides for the U.S. economy.

Proponents of greater exports, including the oil and gas industry, say that exporting inexpensive natural gas from the U.S. will help the U.S. trade balance, help advance the adoption of clean-burning fuels around the world and shore up energy-poor U.S. allies.

Opponents counter that exports may cause domestic prices to rise, hurting consumers and some industries such as chemicals that have benefited from cheap natural gas.

Dow Chemical Co., which has vocally opposed unrestricted gas exports, said it supported the DOE's decision because it reflected a careful approach to export approvals rather than the blanket approvals some proponents have called for.

"Dow will adopt a wait-and-see approach regarding further approvals," the company said. It maintained that using natural gas for domestic manufacturing creates "far more" value "than exporting it as a fuel."

The American Petroleum Institute urged the Energy Department to approve the remaining applications without delay "so that the U.S can achieve its full energy and economic potential."

The Department of Energy said it had given preliminary authorization to the Freeport project to export up to 1.4 billion cubic feet per day of liquefied natural gas. The approval is needed for exports to countries with which the U.S. doesn't have a free-trade agreement, a category that includes major trading partners in Europe and Asia. The project still requires final approval from the Federal Energy Regulatory Commission.

The Freeport terminal is the second export facility approved by the Obama administration. Cheniere Energy Inc.'s (LNG) Sabine Pass facility in Louisiana won approval in May 2011 to export LNG to the countries without free-trade agreements.

The first approval got relatively little notice, but the issue gained prominence as export applications piled up and leading companies on both sides of the issue began to clash over the merits of exports. The Department of Energy spent much of 2012 waiting for a report it commissioned on the issue, which was released in December 2012 and concluded that exports would benefit the U.S. economy overall.

Friday's decision is an important harbinger for the remaining 19 applications to export gas to non-FTA countries. That's because according to law, gas exports are presumed to be in the public interest unless shown otherwise.

Freeport LNG has signed preliminary 20-year contracts to sell much of the export facility's capacity to Chubu Electric Power Co., Osaka Gas Co. and BP Energy Co., and the company says it expects to announce a deal for the rest of the capacity this summer. Chubu Electric and Osaka Gas, both major Japanese utilities, have a partial stake in the portion of the facility that is feeding the Japanese demand.

The combination of hydraulic fracturing and horizontal drilling has unleashed a natural-gas bonanza that made the U.S. the world's largest natural-gas producer.

The Freeport permit approval opens up the dam for other pending applications, but the pace of upcoming decisions is still unknown, said Randy Bhatia, an analyst at Capital One Southcoast.

"This is an encouraging step," Mr. Bhatia said. "But you need more than one to get a better idea of what pace we can expect them to process the remainder of that queue."

The Energy Department will next consider the application of a slightly larger export facility in Lake Charles, La. While there are nearly a score of outstanding applications, analysts expect that only a handful will be built, due to the high cost of gas liquefication facilities.

Moody's Investor Service has said that projects building from existing facilities, including Cove Point LNG in Maryland and Cameron LNG in Louisiana, are best placed to secure approval and financing from the private sector.

Further complicating the picture for U.S. exports are uncertainties over future global demand for LNG. Australia and Qatar, among other countries, have expanded their own gas exports in recent years and are well-placed to supply potential customers in Asia and Europe. Due to the cost of liquefying and transporting gas, U.S. exports may not be cost-competitive if domestic prices rise in coming years.

The DOE said it conducted an "extensive, careful review" which considered "the economic, energy security, and environmental impacts," and found that the project was "not inconsistent with the public interest."

The department said that in considering future export applications, it will consider market conditions, including projections about natural-gas prices, supply and demand. All remaining permit applications will be considered on a case-by-case basis, the department said, keeping in mind the cumulative amount of authorized gas exports.

Ben Lefebvre and Tennille Tracy contributed to this article.

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Moniz Unanimously Confirmed as Energy Secretary

WASHINGTON - The U.S. Senate on Thursday confirmed Ernest Moniz, a nuclear physicist who has lauded the U.S. natural gas boom, as the next U.S. Energy Secretary.

Mr. Moniz, who was confirmed unanimously, won broad support while some other nominees from President Barack Obama are running into Republican opposition. Gina McCarthy, Mr. Obama's choice to be the next leader of the Environmental Protection Agency, has already seen her nomination vote delayed by Republican opposition.

Ms. McCarthy did get committee approval Thursday by the Senate Environment Committee on a 10-8 party-line vote, but her nomination may need support from Republicans to win approval from the full Senate.

Mr. Moniz has a less contentious track record than Ms. McCarthy, who as the EPA's air-quality chief has presided over the adoption of strict environmental rules. As an academic, Mr. Moniz advocated both advancing renewable energy and moving toward increased use of natural gas as a near-term way to reduce the carbon dioxide emissions linked to climate change.

Senators approved him in a 97-0 vote Thursday. He will take over the Department of Energy as it weighs several applications to export U.S. natural gas.

Mr. Moniz spoke positively about the U.S. natural gas boom at a Senate Energy Committee hearing last month, but he didn't take a firm position on exports. In his previous job as head of the Massachusetts Institute of Technology's Energy Initiative, he led a study that said the U.S. shouldn't erect barriers to exports and that a global gas market would advance U.S. interests.

There are more than a dozen export applications waiting for the Obama administration's approval.

The Department of Energy has limited regulatory power, but Mr. Moniz will be among President Barack Obama's top energy advisers as the administration considers new policies to cut carbon emissions. Mr. Moniz told senators last month his department should focus on supporting "low-carbon options" of energy use, such as small-scale nuclear reactors, renewable energy and technology to capture the carbon emissions from burning coal.

Mr. Moniz previously served in the department under President Bill Clinton, helping to oversee research programs and the nation's nuclear weapons stockpile. One of his first tasks this time around will be wrangling with Congress over the department's budget. Despite cuts to many accounts, the president has proposed a huge boost in funding for renewable energy and energy efficiency research. It isn't clear lawmakers will follow along.

Mr. Moniz moved easily through the Senate except for one stumbling block: South Carolina's two Republican senators, Lindsey Graham and Tim Scott, objected to the nominee moving forward unless the Department of Energy vowed to push ahead with a plutonium-disposal project in that state. The Obama administration says the project may cost more than anticipated and wants to look at alternatives.

Mr. Moniz declined to take a position on the South Carolina matter prior to his confirmation.

Mr. Graham dropped plans to block a vote on Mr. Moniz after it became clear the nominee had wide support from senators in both parties. Mr. Graham and Mr. Scott have said they will be looking for other opportunities to raise the issue.

Mr. Moniz will be the second consecutive scientist to the lead the research-focused energy department. His predecessor, the physicist Steven Chu, left the department for a post at Stanford University after serving most of President Barack Obama's first term.

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Houston American Energy Updates Test Results from La. Well

Houston American Energy Corp. announced Friday that Pennington Oil & Gas, LLC, the operator of the Crown Paper #1 well in the Profit Island Field in East Baton Rouge Parish, Louisiana, has successfully carried out a recompletion of the Crown Paper #1 well. Houston American holds a 5.675 percent royalty interest in the well, which interest will be reduced to a 2.838 percent royalty interest after Houston American's receipt of royalties totaling approximately $225,000. Houston American also holds working interests and royalty interest in adjacent acreage to the Profit Island Field.

The Crown Paper #1 well came back on production following the recompletion April 25 and is currently producing in excess of 300 barrels of condensate and 900 mcf of gas per day.

John Terwilliger, Chief Executive Officer of Houston American Energy, stated, "While it is early in its production life for this new interval, I am very pleased with the initial production from the well. As a royalty owner, Houston American is not privy to all of the data on the well and can't speak as to the future cash flows that may be realized from the well. Nonetheless, I view the successful recompletion in the Tuscaloosa Sand as favorable to our Profit Island and North Profit Island Prospects. Houston American will continue to evaluate this area as well as pursue other domestic opportunities."

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Papua New Guinea Draws Energy Interest

SYDNEY - Foreign governments are boosting efforts to win influence in Papua New Guinea, with Australia deepening economic and defense ties with the impoverished South Pacific nation Friday as it prepares to become one of the world's newest significant energy producers.

The visit by Julia Gillard represented the first by an Australian prime minister to Papua New Guinea's capital, Port Moresby, in four years. It followed trips this year by Thailand's leader, Yingluck Shinawatra, and a U.K. government minister.

China, too, has made little secret of its desire to gain diplomatic weight in Papua New Guinea. Beijing offered almost $3 billion in loans for infrastructure projects in the country last year and has a long-term deal to buy its first natural-gas exports.

"We're seeing a lot more economic competition between Chinese and Australian and other businesses in Papua New Guinea," said Jenny Hayward-Jones of the Lowy Institute for International Policy, a Sydney-based think tank. "The Thai prime minister doesn't visit just for the hell of it."

Papua New Guinea, known for its jungles and tribal society, has large deposits of natural gas, copper and gold, and lucrative fishing rights that long have appealed to foreign investors.

Exxon Mobil Corp. has placed the biggest bet on the country's resources sector, leading development of a $19 billion liquefied-natural-gas project due to begin exporting to Asia, including China, next year.

Papua New Guinea has been a large recipient of foreign aid, including from Australia. Little infrastructure exists outside Port Moresby, while the country's hilly, densely forested terrain makes getting around difficult.

The country, with several thousand separate communities, has a history of tribal conflict. Lawlessness has been exacerbated by an influx of guns into urban areas. In 2011, Port Moresby was rated one of the worst cities in the world by the Economist Intelligence Unit, measured on criteria such as stability and infrastructure.

Papua New Guinea Prime Minister Peter O'Neill and Ms. Gillard penned a joint declaration Friday to boost trade and economic links. Later this year, they plan to sign a more formal economic-cooperation treaty. The nations also vowed to cooperate more on regional defense issues.

"Australia wants to work with Papua New Guinea as economic partners, as development partners, and as partners in the region," Ms. Gillard said in a speech.

Australian officials also have been advising Papua New Guinea on establishing a new sovereign-wealth fund to lock away proceeds from its anticipated energy riches.

Still, the trip got off to a rocky start, as Mr. O'Neill criticized Australia's visa policy as too onerous.

"Our people find existing visa arrangements very frustrating," he said. "Some regard them as insulting." Ms. Gillard said steps were being taken to address the issue.

Papua New Guinea, home to 6.4 million people and covering an area slightly larger than California, has been prone to political instability. A power struggle between Mr. O'Neill and predecessor Michael Somare, who led the country for many years following independence in 1975, lasted several months before it was settled in an August general election.

Since winning the election, Mr. O'Neill has signaled he wants more foreign investment in tuna processing, mining and gas.

Australia, separated from Papua New Guinea by about 94 miles of water at its northern tip, is the country's biggest investor, the Lowy Institute says. The U.S. and Malaysia invest a significant amount, while China is progressively increasing its role.

"There's no conflict whatsoever" between Papua New Guinea's strengthening of its relationship with China and ties with traditional allies like Australia, said William Duma, minister for petroleum and energy, in an interview. "Aren't we all looking to export to China?"

Beijing has offered loans totaling 6 billion kina ($2.9 billion) to Papua New Guinea for infrastructure, following similar moves by China in other Pacific Rim countries like Tonga. Mr. O'Neill said late last year the government planned to draw down as much as $200 million of those loans this year.

Unlike many resource-rich nations, Papua New Guinea is lightly explored, increasing its appeal to overseas investors. France's Total SA and Japan's Mitsubishi Corp. each bet on natural-gas projects there last year. U.K.-based consultancy Wood Mackenzie estimates Papua New Guinea has 26 trillion cubic feet of natural gas--about equal to U.S. annual consumption.

The country also has large minerals deposits that have lured companies like Glencore Xstrata PLC and Australia's Newcrest Mining Ltd.

Mining those deposits can be hard, however. Deals often need to be struck with tribal leaders and can unwind if there is popular opposition to mining companies' plans. The Panguna copper mine on the island of Bougainville shut in 1989 amid an armed insurrection that led to attacks on its workers.

"It ranks high on the list of difficult places to do business," said Ronald May, an Asia-Pacific specialist at Australian National University.

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Papua New Guinea Draws Energy Interest

SYDNEY - Foreign governments are boosting efforts to win influence in Papua New Guinea, with Australia deepening economic and defense ties with the impoverished South Pacific nation Friday as it prepares to become one of the world's newest significant energy producers.

The visit by Julia Gillard represented the first by an Australian prime minister to Papua New Guinea's capital, Port Moresby, in four years. It followed trips this year by Thailand's leader, Yingluck Shinawatra, and a U.K. government minister.

China, too, has made little secret of its desire to gain diplomatic weight in Papua New Guinea. Beijing offered almost $3 billion in loans for infrastructure projects in the country last year and has a long-term deal to buy its first natural-gas exports.

"We're seeing a lot more economic competition between Chinese and Australian and other businesses in Papua New Guinea," said Jenny Hayward-Jones of the Lowy Institute for International Policy, a Sydney-based think tank. "The Thai prime minister doesn't visit just for the hell of it."

Papua New Guinea, known for its jungles and tribal society, has large deposits of natural gas, copper and gold, and lucrative fishing rights that long have appealed to foreign investors.

Exxon Mobil Corp. has placed the biggest bet on the country's resources sector, leading development of a $19 billion liquefied-natural-gas project due to begin exporting to Asia, including China, next year.

Papua New Guinea has been a large recipient of foreign aid, including from Australia. Little infrastructure exists outside Port Moresby, while the country's hilly, densely forested terrain makes getting around difficult.

The country, with several thousand separate communities, has a history of tribal conflict. Lawlessness has been exacerbated by an influx of guns into urban areas. In 2011, Port Moresby was rated one of the worst cities in the world by the Economist Intelligence Unit, measured on criteria such as stability and infrastructure.

Papua New Guinea Prime Minister Peter O'Neill and Ms. Gillard penned a joint declaration Friday to boost trade and economic links. Later this year, they plan to sign a more formal economic-cooperation treaty. The nations also vowed to cooperate more on regional defense issues.

"Australia wants to work with Papua New Guinea as economic partners, as development partners, and as partners in the region," Ms. Gillard said in a speech.

Australian officials also have been advising Papua New Guinea on establishing a new sovereign-wealth fund to lock away proceeds from its anticipated energy riches.

Still, the trip got off to a rocky start, as Mr. O'Neill criticized Australia's visa policy as too onerous.

"Our people find existing visa arrangements very frustrating," he said. "Some regard them as insulting." Ms. Gillard said steps were being taken to address the issue.

Papua New Guinea, home to 6.4 million people and covering an area slightly larger than California, has been prone to political instability. A power struggle between Mr. O'Neill and predecessor Michael Somare, who led the country for many years following independence in 1975, lasted several months before it was settled in an August general election.

Since winning the election, Mr. O'Neill has signaled he wants more foreign investment in tuna processing, mining and gas.

Australia, separated from Papua New Guinea by about 94 miles of water at its northern tip, is the country's biggest investor, the Lowy Institute says. The U.S. and Malaysia invest a significant amount, while China is progressively increasing its role.

"There's no conflict whatsoever" between Papua New Guinea's strengthening of its relationship with China and ties with traditional allies like Australia, said William Duma, minister for petroleum and energy, in an interview. "Aren't we all looking to export to China?"

Beijing has offered loans totaling 6 billion kina ($2.9 billion) to Papua New Guinea for infrastructure, following similar moves by China in other Pacific Rim countries like Tonga. Mr. O'Neill said late last year the government planned to draw down as much as $200 million of those loans this year.

Unlike many resource-rich nations, Papua New Guinea is lightly explored, increasing its appeal to overseas investors. France's Total SA and Japan's Mitsubishi Corp. each bet on natural-gas projects there last year. U.K.-based consultancy Wood Mackenzie estimates Papua New Guinea has 26 trillion cubic feet of natural gas--about equal to U.S. annual consumption.

The country also has large minerals deposits that have lured companies like Glencore Xstrata PLC and Australia's Newcrest Mining Ltd.

Mining those deposits can be hard, however. Deals often need to be struck with tribal leaders and can unwind if there is popular opposition to mining companies' plans. The Panguna copper mine on the island of Bougainville shut in 1989 amid an armed insurrection that led to attacks on its workers.

"It ranks high on the list of difficult places to do business," said Ronald May, an Asia-Pacific specialist at Australian National University.

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Far East Energy Touts Spudding of 14th Well in 2013

Far East Energy Corporation announced that appraisal well SYS03 has reached total depth; preliminary gas content has been determined for the SYE06 appraisal well; and, the 108D, an additional production well has spud, bringing to 14 the number of wells spudded thus far in 2013.

The focus for the company remains the drilling and well-fracing program that management detailed in its conference call held April 18, and which was discussed further in its operations update press release of May 6.

As part of the company's continuing appraisal well program, the SYS03, which is located in the east to southeast portion of the Shouyang Block, completed drilling to a total depth of 1,471 meters (or 4,826 feet) and penetrated the #15 coal seam revealing a total coal seam thickness of 3.77 meters (or approximately 12.4 feet). The coal was cored in its entirety and seven samples have been collected for desorption testing, which will allow for an assessment of gas content. Wire-line logging and open-hole testing will shortly be completed with estimates of permeability to follow.

The SYS03 well is a good control point between the P18 and SYS05 wells, verifying good continuity and stability of the targeted #15 coal seam. This encouraging result from the SYS03 greatly enhances confidence in the potential of the east and southeast portions of the Shouyang Block.

Meanwhile, results from the testing of core samples from the SYE06 appraisal well indicate an initial gas content of 592 standard cubic feet per ton (scf/t) or 16.76 cubic meters per ton (m3/t) in the #15 coal seam and 383 scf/t or 10.84 m3/t in the #9 coal seam.  This well is approximately 5 kilometers due east of the P18 appraisal well, and continues to confirm high gas content across virtually all of the Shouyang Block.

CEO Michael McElwrath said, "I am very pleased with the progress we have made this year on the Shouyang Block. As previously announced, our drilling contractors are in the process of mobilizing up to twenty-five rigs dedicated to the Shouyang Block and we are in final preparations for the kickoff of the frac program, with 10 wells now awaiting fracking. The operations team in China is wholly focused on delivery of the Company's 2013 drilling program, and we are encouraged by the results of yet another appraisal well, the SYE06, that affirms high gas content in our targeted coal seams across an ever-expanding area."

Gas sales for Q1 2013 were 66.9 MMcf, an increase of 40% over the same period in 2012.  Average gas price for Q1 2013 was $6.47/Mcf, inclusive of the various state and provincial subsidies and VAT refunds. This compares to an average of $6.45/Mcf in Q1 2012.

Due to increased demand for power in the vicinity of our 1H Pilot Area, the electric grid in that area is being upgraded. This increased demand for electricity is indicative of the rapid growth of energy demand in the region, for manufacturing facilities, chemical plants, and for the gas-fired power generation facility and LNG facilities being built adjacent to our 1H Pilot Area. As a result of this ongoing upgrade, since March 2013, the company has been experiencing intermittent power supply interruptions to its compressors in the Shouyang Block, as the power grid is being upgraded. In order to lessen the impact of these interruptions, the company's field personnel are in the process of procuring and installing company-owned gas-fired generators to ensure power continuity at its sales point.

As announced on January 16, 2013, the company completed a $60 million private debt placement during the first quarter, which funds a full production and appraisal well program through 2013.

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Dejour Energy Reaches TD at Kokopelli Well

Dejour Energy Inc., an independent oil and natural gas exploration and production company operating in North America's Piceance Basin and Peace River Arch regions, announced it has now reached total depth of 8130 feet in the Federal 6-7-15-21, the fourth and final well in the current Kokopelli drill program targeting production from multiple horizons of the NGL-rich Williams Fork in this 2Q 2013 drilling operation. Again, ample gas shows, as expected, were observed. The hole has now been cased and cemented.

Following demobilization of the drilling rig and completion of the gas sales line tie in to our facilities, Haliburton will begin turnkey operations to stimulate and complete all four wells for production. Initial production (IP) is scheduled to commence prior to the end of 2Q 2013.

Dejour operates this Kokopelli project and enjoys a 72 percent WI in the initial well drilled in 4Q 2012 and a 100 percent WI in the three wells currently being drilled, all subject to a previously announced agreement with a Denver based drilling fund.

With the realization of firmer gas prices to date in 2013, Dejour is now modeling Kokopelli for the next wave of development targeted for 4Q 2013. The Company estimates the potential to drill at least 27 deeper Mancos/Niobrara wells and more than an additional 200 Williams Fork wells on its two leases that comprise a total of 2200 gross acres.

The Company will report its 1Q 2013 financial results after the market close on May 15, 2013.

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UK Energy Secretary Lauds Oil, Gas Sector

UK Secretary of State for Energy and Climate Change Ed Davey said Thursday that he expects oil and gas to remain a vital part of the country's energy mix for decades.

Speaking at an Oil & Gas UK event in London, Davey said:

"As we move to a low carbon economy, oil and gas will remain a vital part of the UK's energy mix for decades to come – providing energy security, jobs and investment.

"I want to pay tribute to the oil and gas industry. Operating in some of the toughest conditions anywhere in the world it spearheads revolutionary technology in offshore exploration and production.

"Alongside the many opportunities the North Sea offers, there are of course challenges too. I believe that the joint work by government and industry … will pay real dividends and ensure continuing investment and success."

Oil & Gas UK Chief Executive Malcolm Webb added:

"We are delighted that the country's senior energy policy maker has today shone the spotlight on the UK's valuable and high technology oil and gas industry. Delegates heard first hand about the government's commitment to promoting investment in the UK's oil and gas reserves, building on the Treasury's new approach on tax and the launch of the long-term industrial strategy for oil and gas."

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UK Energy Secretary Lauds Oil, Gas Sector

UK Secretary of State for Energy and Climate Change Ed Davey said Thursday that he expects oil and gas to remain a vital part of the country's energy mix for decades.

Speaking at an Oil & Gas UK event in London, Davey said:

"As we move to a low carbon economy, oil and gas will remain a vital part of the UK's energy mix for decades to come – providing energy security, jobs and investment.

"I want to pay tribute to the oil and gas industry. Operating in some of the toughest conditions anywhere in the world it spearheads revolutionary technology in offshore exploration and production.

"Alongside the many opportunities the North Sea offers, there are of course challenges too. I believe that the joint work by government and industry … will pay real dividends and ensure continuing investment and success."

Oil & Gas UK Chief Executive Malcolm Webb added:

"We are delighted that the country's senior energy policy maker has today shone the spotlight on the UK's valuable and high technology oil and gas industry. Delegates heard first hand about the government's commitment to promoting investment in the UK's oil and gas reserves, building on the Treasury's new approach on tax and the launch of the long-term industrial strategy for oil and gas."

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ConocoPhillips Donates to University of Houston's Energy Research Park

Continuing its commitment to education at the University of Houston, ConocoPhillips is donating $1 million to UH's growing Energy Research Park (ERP) and $125,000 to various engineering, science and business programs.

The $1 million gift will support the ConocoPhillips Petroleum Engineering Building, which serves an expanding number of undergraduate and graduate students. ConocoPhillips has now given a total of $3 million to this facility, with previous gifts of $1 million in 2012 and also in 2011.

UH Energy is a key strategic focus for faculty research and teaching, and the ERP is at the heart of these efforts. The vision for the ERP is to build a premier research and education facility for students and faculty, as well as establish a unique environment for the best minds to forge new business approaches to the way energy is created, delivered and used.

An important element of this vision is the ConocoPhillips Petroleum Engineering Building, which in 2011 became the new home for UH's popular petroleum engineering program. The building houses three teaching laboratories, three classrooms, a computer lab, faculty offices and a student lounge.

"ConocoPhillips is pleased to continue our support of the University of Houston's Energy Research Park and the petroleum engineering program," said Jeff Sheets, ConocoPhillips' Chief Financial Officer and the company's executive sponsor for the University of Houston. "The University of Houston plays a vital role in educating the next generation of top-quality and diverse engineering graduates for the energy industry."

In addition to its long-standing master's degree option, UH's petroleum engineering program launched a bachelor's degree option in fall 2009. The undergraduate program, which is designed to fill the gaps in the industry's aging workforce and equip graduates with the skills needed in the evolving energy world, has grown from about 20 students in the inaugural semester to more than 400 students this spring.

"We are grateful to ConocoPhillips for making this important investment in the university," said Dow Chair Professor Ramanan Krishnamoorti, special assistant to the president/chancellor for UH Energy. "This is a tremendous commitment to a number of great energy initiatives we have here at UH. We are truly fortunate to have ConocoPhillips' continued support in helping us achieve our goal of becoming 'the energy university.'"

ConocoPhillips also is giving $125,000 to UH to help fund a number of programs in the Cullen College of Engineering, the C.T. Bauer College of Business and the College of Natural Sciences and Mathematics (NSM).

"We appreciate the unwavering commitment that ConocoPhillips has for our programs, particularly our petroleum engineering program and the ever-expanding Energy Research Park," said Joseph W. Tedesco, dean of the UH Cullen College of Engineering. "The unique partnership we forged in 2011 continues to be a win-win. It's a win for the industry because we are helping to provide the workforce they need to compete in 21st century technologies. And it's a win for the university because it further validates our mission."

Cullen programs receiving money include the Program for Mastery in Engineering Studies, the Society of Women Engineers, the National Society of Black Engineers and the Society of Hispanic Professional Engineers. At Bauer, the Emerging Leaders Academic Success Program, Beta Alpha Psi and the Diversity Case Competition are among the groups receiving some of the funds. The NSM program beneficiaries are the Scholar Enrichment Program, the American Association of Petroleum Geologists (ABSA) and the Society of Exploration Geophysicists.

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Rialto Energy, Vantage Drilling Agree to $12.4M Settlement

Rialto Energy Ltd. and Vantage Drilling Company have settled an agreement regarding payment terms in regards to the early termination of the rig contract regarding Vantage's Sapphire Driller (375' ILC) jackup.

Rialto has agreed to pay Vantage an amount equivalent to 75 days of the operating rate, about $12.38 million. The original contract had specified a rate of $17.33 million for 105 days.

The company had contracted the rig until December 2013 to explore Block CI-202.

In April 2013, Rialto and Vitol E&P entered into a contract to jointly develop Rialto's interests in Cote d'Ivoire and Ghana. Vitol acquired, subject to regulatory and joint venture partner approval, a 20 percent stake in Rialto Energy (Ghana) Limited in exchange for funds to cover Rialto's $7.7 million obligation to drill the high-impact Starfish-1 exploration well in the Accra Block, Ghana – which is due to spud in June 2013.

Additionally, Vitol will acquire 65 percent of the shares in Rialto Energy (Cote d'Ivoire) Limited in exchange for providing $50 million of capital to be invested in a to-be-agreed Block CI-202 work program. The deal also called for the release of the Sapphire drilling rig, according to an April 23 press release.

"Whilst we are disappointed to have had to make the difficult decision to terminate the rig contract, it was made to ensure that Rialto and Vitol had sufficient time to finalize matters around our recently announced deal and to work together on a robust technical program in Block CI-202," Rialto's Managing Director Rob Shepherd said in a press release. "We are continuing to work with Vitol on finalizing the transaction and are doing everything possible to bring this to a swift conclusion."

With more than 10 years of journalism experience, Robin Dupre specializes in the offshore sector of the oil and gas industry. Email Robin at rdupre@rigzone.com.

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Rialto Energy, Vantage Drilling Agree to $12.4M Settlement

Rialto Energy Ltd. and Vantage Drilling Company have settled an agreement regarding payment terms in regards to the early termination of the rig contract regarding Vantage's Sapphire Driller (375' ILC) jackup.

Rialto has agreed to pay Vantage an amount equivalent to 75 days of the operating rate, about $12.38 million. The original contract had specified a rate of $17.33 million for 105 days.

The company had contracted the rig until December 2013 to explore Block CI-202.

In April 2013, Rialto and Vitol E&P entered into a contract to jointly develop Rialto's interests in Cote d'Ivoire and Ghana. Vitol acquired, subject to regulatory and joint venture partner approval, a 20 percent stake in Rialto Energy (Ghana) Limited in exchange for funds to cover Rialto's $7.7 million obligation to drill the high-impact Starfish-1 exploration well in the Accra Block, Ghana – which is due to spud in June 2013.

Additionally, Vitol will acquire 65 percent of the shares in Rialto Energy (Cote d'Ivoire) Limited in exchange for providing $50 million of capital to be invested in a to-be-agreed Block CI-202 work program. The deal also called for the release of the Sapphire drilling rig, according to an April 23 press release.

"Whilst we are disappointed to have had to make the difficult decision to terminate the rig contract, it was made to ensure that Rialto and Vitol had sufficient time to finalize matters around our recently announced deal and to work together on a robust technical program in Block CI-202," Rialto's Managing Director Rob Shepherd said in a press release. "We are continuing to work with Vitol on finalizing the transaction and are doing everything possible to bring this to a swift conclusion."

With more than 10 years of journalism experience, Robin Dupre specializes in the offshore sector of the oil and gas industry. Email Robin at rdupre@rigzone.com.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
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Clayton Williams Energy Closes on Andrews County Wolfberry Assets

Clayton Williams Energy, Inc. announced it has closed the previously reported transaction to monetize its Wolfberry oil and gas reserves, leasehold interests and facilities located in Andrews County, Texas.

At the closing, the company contributed 5 percent of the assets to a newly formed limited partnership in exchange for a 5 percent general partner interest, and a financial investor contributed cash of $215.2 million to the limited partnership in exchange for a 95 percent limited partnership interest.

The limited partnership then purchased 95 percent of the assets from the company for $215.2 million, subject to customary closing adjustments, with $26.5 million being placed in escrow pending resolution of certain title requirements and $188.7 million being paid to the company.

If the title requirements are not satisfied, waived or extended within 180 days, the affected properties will be conveyed back to the company and the escrowed funds will be returned to the limited partner. Management of the company believes that the defects will be cured timely.

Effective with the closing, the borrowing base under the company’s revolving bank credit facility was reduced from $585 million to $470 million to account for the release of collateral, providing the company with approximately $100 million of additional availability under the facility.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

SPE Celebrates the Differences of Women in Energy

The SPE London Section announces the 7th Annual Women in Energy event, to be held this year at the London South Bank University, May 9.

Entitled "Celebrate the differences – the unique qualities women bring to the workplace", this seminar presents an opportunity for networking amongst female workers across all energy related sectors, allowing them to benefit from sharing experiences and insights on gender-related career themes. The seminar is complemented by interactive skill workshops.  Keynote speakers this year are

Iman Hill, General Manager, Technical and Operational Services Directorate, Sasol;Oonagh Werngren, Operations Director, Oil & Gas UK; and Sarah Cook, Project Director, Fluor Ltd. 

Panelists for a discussion on the unique management qualities of women will be Hamish Wilson, Technical Director, SLR Consulting; Jill Lewis - CEO and MD, Troika International; Jim Ayton, Technical Services Director, OPC Ltd; and Deirdre O'Donnell, MD/Owner, Working Smart Ltd.

The Women in Energy Seminar is particularly noted for its range of interactive workshops, which this year are on the following topics:  

WILD Women in Leadership Development - why purr when you can ROAR? Presented by Tiffany Macedo-Dine of The WILD ConsultancyGoal Mapping - work out what really matters to you and how to get there Presented by Stephanie Saphin of Wight BlueSky ArtsCareer Planning and Development Presented by Anita Edmunds of PennaCommunication and Assertiveness - How to be Heard Presented by Helen Toogood of Hot Chilli ConsultingOn the Move – working and living in a Globalized World Presented by Claire Snowdon of Expat knowhow

The seminar begins at 8:30 a.m. with registration and coffee, and ends at 5:30 p.m. with networking drinks.

Tickets cost £40 for Members and £50 for non-members. There is a 10 percent discount for parties of 6 or more. Book online at www.katemcmillan.co.uk, or contact Kate direct for more details: katespe@aol.com or 07736 070066.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

Noble Energy 1Q Net Down 0.8% on Higher Costs

Noble Energy Inc.'s first-quarter earnings fell 0.8% as the oil-and-gas explorer's higher expenses counterbalanced stronger revenue from oil and condensates, as well as natural gas.

The company has been selling its noncore assets to focus its spending on higher-return areas, including horizontal drilling operations in the U.S. and offshore projects in the Gulf of Mexico, the Mediterranean, and West Africa.

Noble late last year said it would bump up capital spending by 11% in 2013 to $3.9 billion, and said its oil and gas output would grow at a compounded annual growth rate of 17%. About 60% of the capital expenditures were allocated for U.S. onshore projects, while 10% of the capital budget was targeted for its operations in the Eastern Mediterranean region.

Noble Energy reported a profit of $261 million, or $1.45 a share, down from $263 million, or $1.47 a share, a year earlier. Excluding hedging impacts and other items, earnings were down at $1.48 from $1.65.

Revenue rose 5.1% to $1.14 billion amid higher oil and natural-gas revenue.

Analysts polled by Thomson Reuters most recently projected earnings of $1.24 on revenue of $1.08 billion.

Average sales volumes from continuing operations rose to 245,000 barrels of oil equivalent a day, from 236,000 Boe/d. Average crude and condensate realized prices were down 8.2% and natural-gas realized prices rose 20%.

Copyright (c) 2013 Dow Jones & Company, Inc.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

WBENC Advocates Women-Owned Businesses in the Energy Industry

Women's Business Enterprise National Council (WEBNC) recently held a conference that recognized America's Top Corporations for Women's Business Enterprises (WBEs) with six energy companies making the list.

Founded in 1997, Women's Business Enterprise National Council (WBENC) is the nation's leading third-party certifier of businesses owned and operated by women, with nearly 11,000 WBENC-Certified Women's Business Enterprises (WBE). WBENC certification is accepted by more than 1,000 corporations representing America's most prestigious brands, in addition to many states, cities and other entities.

Six energy companies – BP America Inc., Chevron Corp., Energy Future Holdings Corp., Exxon Mobil Corp., Pacific Gas and Electric Company, and Royal Dutch Shell plc – made the 14th annual listing of America's Top Corporations for Women's Business Enterprises, the only national award honoring corporations for world class programs that level the playing field for women's business enterprises to compete for corporate business. WBENC recognized these corporations for developing and driving best practices across their organizations that result in productive business partnerships with women entrepreneurs and valuable products and services for their customers. 

Rigzone recently conducted an interview with WBENC to find out more information on how this influential organization grooms, cultivates and recognizes women-owned businesses through development and collaborative success among corporate and government members of WBEs.

Rigzone: WBENC recognized several oil and gas companies for programs that level the playing field for women's business enterprises. Can you elaborate?

WBENC: The organization has seen consistent focus in developing opportunities and access for women's business enterprises among the energy companies that are top corporations for Women's Business Enterprises. 

These companies set high goals for themselves to increase their sourcing with WBEs; and they advance innovative programs to identify, develop and sustain WBE growth as suppliers over the long term.   

One key strategy is to ensure that procurement officers across their organizations are knowledgeable about and connected to quality WBEs that can deliver the products and services they need for their clients or employees.  These officers can provide the WBEs with exposure to decision makers in upstream, midstream and downstream segments of the company. Companies also encourage prime suppliers to source and utilize WBEs as second and third tier suppliers.

Another is to offer strategic mentoring and development, so that the WBEs can build their capacity to take on more business with the corporation.

Rigzone: Considering the oil and gas industry is male-dominated, what does this recognition mean for women and the industry?

WBENC: WBENC as an organization is extraordinarily proud of all of the 32 Top Corporations. The fact that there are six energy companies on the list – including Energy Future Holdings which has been on the list in each of the 14 years that the award has been bestowed – demonstrates that this sector is committed to women's business success. These companies passionately believe in the value of women's business to their ability to serve their clients and their employees with superior goods and services that these WBEs deliver.

Rigzone: How does WBENC groom women or help them along the way of their chosen career path?

WBENC: First of all, WBENC delivers world-class certification of WBEs as 51 percent-owned and operated by women. WBENC currently certifies more than 11,000 WBENC-WBEs.  Our corporate and government members rely on our WBEs' quality and they can access these WBEs through WBENCLink (a proprietary database) as well as the hundreds of events throughout the year presented by WBENC.

In fact, WBENC offers continuous development resources to WBEs throughout the year. This includes WBENC's major events, the Summit & Salute to WBEs where the Top Corporations were announced; and the upcoming 2013 WBENC National Conference & Business Fair, held June 25-27th in Minneapolis, which will attract some 3,500 corporations and women's businesses.

These WBEs have access to three days of nationally-acclaimed speakers, interactive workshops and business networking opportunities including the business fair with some 350 exhibitors. Workshops focus on what WBEs need to know to enhance their positions as suppliers: how to hone skills that are sought-after by their clients, leverage existing expertise for greater growth and build their capacity.

On an ongoing basis, WBENC offers a dynamic website with opportunities for WBEs to acquire important information on best practices for how to do business with major corporations, and the business trends affecting the marketplace.

Rigzone: With very few women CEOs in the energy industry, how can one pursue becoming a supplier to this industry without a mentor? How can they find one, if needed?

WBENC: We are speaking here of mentoring women business owners to become suppliers to major corporations, and once hired, to grow their business with them. WBENC's top corporations are exemplary in providing WBE development and access to direction and support in various forms. WBEs can and should also take the initiative to develop connections and present clear and compelling value propositions. To make connections with corporate decision makers, they should start by registering at the companies' supplier diversity websites, attend and network at the National Conference & Business Fair, and become involved in their RPOs.

Rigzone: With the energy industry seeking to diversify the companies they hire, what can they pull from WBENC?

WBENC: WBENC-certified WBEs are committed, established business owners. While they have families and outside interests, they come to WBENC events with a strategic business focus and a dedication to delivering quality products and services to their clients.  

What we have found is that the entire WBENC community – with our marketplace access, inspirational speakers and recognition of women's business owners who have demonstrated success – empowers women to succeed.  

Fifteen years ago, WBENC's goal was to level the playing field for women's businesses to compete and win corporate business. Today we have evolved to a point where we join forces and succeed together. We foster collaboration among corporations and WBEs to innovate, create improved products and services, and fuel economic growth. This lifts the conversation from "Can a woman-owned business succeed?" to "How do we work together to succeed." Our energy companies are at the heart of that positive conversation.

Rigzone: There are certain skills/personality traits one must possess to succeed in the business world. What are they and how can women pinpoint or instill this in young girls?

WBENC: Young women and girls interested in energy careers are strongly encouraged to pursue the Science-Technology-Engineering-Math (STEM) areas of expertise. Energy is a highly technical business, and many of the leaders of these companies have technical degrees. Technical training is also a very strong background for any young woman interested in starting her own business. Another key to success for a woman business owner is to take advantage of opportunities to surround her with peers and mentors who will help her grow her capabilities and business.

As an example of what energy companies are doing in this realm, Shell sponsored the 2012 Student Entrepreneur Program at last year's WBENC National Conference & Business Fair. This helped to prepare 15 promising young female entrepreneurs from historically black colleges and universities to fill the pipeline of future WBEs. This included cultivating mentors among leading WBEs and corporations, and attending the business fair and WBE workshops. Shell executives also worked with the students on the importance of building relationships, honing their technology expertise and building business skills.

With more than 10 years of journalism experience, Robin Dupre specializes in the offshore sector of the oil and gas industry. Email Robin at rdupre@rigzone.com.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

WBENC Advocates Women-Owned Businesses in the Energy Industry

Women's Business Enterprise National Council (WEBNC) recently held a conference that recognized America's Top Corporations for Women's Business Enterprises (WBEs) with six energy companies making the list.

Founded in 1997, Women's Business Enterprise National Council (WBENC) is the nation's leading third-party certifier of businesses owned and operated by women, with nearly 11,000 WBENC-Certified Women's Business Enterprises (WBE). WBENC certification is accepted by more than 1,000 corporations representing America's most prestigious brands, in addition to many states, cities and other entities.

Six energy companies – BP America Inc., Chevron Corp., Energy Future Holdings Corp., Exxon Mobil Corp., Pacific Gas and Electric Company, and Royal Dutch Shell plc – made the 14th annual listing of America's Top Corporations for Women's Business Enterprises, the only national award honoring corporations for world class programs that level the playing field for women's business enterprises to compete for corporate business. WBENC recognized these corporations for developing and driving best practices across their organizations that result in productive business partnerships with women entrepreneurs and valuable products and services for their customers. 

Rigzone recently conducted an interview with WBENC to find out more information on how this influential organization grooms, cultivates and recognizes women-owned businesses through development and collaborative success among corporate and government members of WBEs.

Rigzone: WBENC recognized several oil and gas companies for programs that level the playing field for women's business enterprises. Can you elaborate?

WBENC: The organization has seen consistent focus in developing opportunities and access for women's business enterprises among the energy companies that are top corporations for Women's Business Enterprises. 

These companies set high goals for themselves to increase their sourcing with WBEs; and they advance innovative programs to identify, develop and sustain WBE growth as suppliers over the long term.   

One key strategy is to ensure that procurement officers across their organizations are knowledgeable about and connected to quality WBEs that can deliver the products and services they need for their clients or employees.  These officers can provide the WBEs with exposure to decision makers in upstream, midstream and downstream segments of the company. Companies also encourage prime suppliers to source and utilize WBEs as second and third tier suppliers.

Another is to offer strategic mentoring and development, so that the WBEs can build their capacity to take on more business with the corporation.

Rigzone: Considering the oil and gas industry is male-dominated, what does this recognition mean for women and the industry?

WBENC: WBENC as an organization is extraordinarily proud of all of the 32 Top Corporations. The fact that there are six energy companies on the list – including Energy Future Holdings which has been on the list in each of the 14 years that the award has been bestowed – demonstrates that this sector is committed to women's business success. These companies passionately believe in the value of women's business to their ability to serve their clients and their employees with superior goods and services that these WBEs deliver.

Rigzone: How does WBENC groom women or help them along the way of their chosen career path?

WBENC: First of all, WBENC delivers world-class certification of WBEs as 51 percent-owned and operated by women. WBENC currently certifies more than 11,000 WBENC-WBEs.  Our corporate and government members rely on our WBEs' quality and they can access these WBEs through WBENCLink (a proprietary database) as well as the hundreds of events throughout the year presented by WBENC.

In fact, WBENC offers continuous development resources to WBEs throughout the year. This includes WBENC's major events, the Summit & Salute to WBEs where the Top Corporations were announced; and the upcoming 2013 WBENC National Conference & Business Fair, held June 25-27th in Minneapolis, which will attract some 3,500 corporations and women's businesses.

These WBEs have access to three days of nationally-acclaimed speakers, interactive workshops and business networking opportunities including the business fair with some 350 exhibitors. Workshops focus on what WBEs need to know to enhance their positions as suppliers: how to hone skills that are sought-after by their clients, leverage existing expertise for greater growth and build their capacity.

On an ongoing basis, WBENC offers a dynamic website with opportunities for WBEs to acquire important information on best practices for how to do business with major corporations, and the business trends affecting the marketplace.

Rigzone: With very few women CEOs in the energy industry, how can one pursue becoming a supplier to this industry without a mentor? How can they find one, if needed?

WBENC: We are speaking here of mentoring women business owners to become suppliers to major corporations, and once hired, to grow their business with them. WBENC's top corporations are exemplary in providing WBE development and access to direction and support in various forms. WBEs can and should also take the initiative to develop connections and present clear and compelling value propositions. To make connections with corporate decision makers, they should start by registering at the companies' supplier diversity websites, attend and network at the National Conference & Business Fair, and become involved in their RPOs.

Rigzone: With the energy industry seeking to diversify the companies they hire, what can they pull from WBENC?

WBENC: WBENC-certified WBEs are committed, established business owners. While they have families and outside interests, they come to WBENC events with a strategic business focus and a dedication to delivering quality products and services to their clients.  

What we have found is that the entire WBENC community – with our marketplace access, inspirational speakers and recognition of women's business owners who have demonstrated success – empowers women to succeed.  

Fifteen years ago, WBENC's goal was to level the playing field for women's businesses to compete and win corporate business. Today we have evolved to a point where we join forces and succeed together. We foster collaboration among corporations and WBEs to innovate, create improved products and services, and fuel economic growth. This lifts the conversation from "Can a woman-owned business succeed?" to "How do we work together to succeed." Our energy companies are at the heart of that positive conversation.

Rigzone: There are certain skills/personality traits one must possess to succeed in the business world. What are they and how can women pinpoint or instill this in young girls?

WBENC: Young women and girls interested in energy careers are strongly encouraged to pursue the Science-Technology-Engineering-Math (STEM) areas of expertise. Energy is a highly technical business, and many of the leaders of these companies have technical degrees. Technical training is also a very strong background for any young woman interested in starting her own business. Another key to success for a woman business owner is to take advantage of opportunities to surround her with peers and mentors who will help her grow her capabilities and business.

As an example of what energy companies are doing in this realm, Shell sponsored the 2012 Student Entrepreneur Program at last year's WBENC National Conference & Business Fair. This helped to prepare 15 promising young female entrepreneurs from historically black colleges and universities to fill the pipeline of future WBEs. This included cultivating mentors among leading WBEs and corporations, and attending the business fair and WBE workshops. Shell executives also worked with the students on the importance of building relationships, honing their technology expertise and building business skills.

With more than 10 years of journalism experience, Robin Dupre specializes in the offshore sector of the oil and gas industry. Email Robin at rdupre@rigzone.com.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

WBENC Advocates Women-Owned Businesses in the Energy Industry

Women's Business Enterprise National Council (WEBNC) recently held a conference that recognized America's Top Corporations for Women's Business Enterprises (WBEs) with six energy companies making the list.

Founded in 1997, Women's Business Enterprise National Council (WBENC) is the nation's leading third-party certifier of businesses owned and operated by women, with nearly 11,000 WBENC-Certified Women's Business Enterprises (WBE). WBENC certification is accepted by more than 1,000 corporations representing America's most prestigious brands, in addition to many states, cities and other entities.

Six energy companies – BP America Inc., Chevron Corp., Energy Future Holdings Corp., Exxon Mobil Corp., Pacific Gas and Electric Company, and Royal Dutch Shell plc – made the 14th annual listing of America's Top Corporations for Women's Business Enterprises, the only national award honoring corporations for world class programs that level the playing field for women's business enterprises to compete for corporate business. WBENC recognized these corporations for developing and driving best practices across their organizations that result in productive business partnerships with women entrepreneurs and valuable products and services for their customers. 

Rigzone recently conducted an interview with WBENC to find out more information on how this influential organization grooms, cultivates and recognizes women-owned businesses through development and collaborative success among corporate and government members of WBEs.

Rigzone: WBENC recognized several oil and gas companies for programs that level the playing field for women's business enterprises. Can you elaborate?

WBENC: The organization has seen consistent focus in developing opportunities and access for women's business enterprises among the energy companies that are top corporations for Women's Business Enterprises. 

These companies set high goals for themselves to increase their sourcing with WBEs; and they advance innovative programs to identify, develop and sustain WBE growth as suppliers over the long term.   

One key strategy is to ensure that procurement officers across their organizations are knowledgeable about and connected to quality WBEs that can deliver the products and services they need for their clients or employees.  These officers can provide the WBEs with exposure to decision makers in upstream, midstream and downstream segments of the company. Companies also encourage prime suppliers to source and utilize WBEs as second and third tier suppliers.

Another is to offer strategic mentoring and development, so that the WBEs can build their capacity to take on more business with the corporation.

Rigzone: Considering the oil and gas industry is male-dominated, what does this recognition mean for women and the industry?

WBENC: WBENC as an organization is extraordinarily proud of all of the 32 Top Corporations. The fact that there are six energy companies on the list – including Energy Future Holdings which has been on the list in each of the 14 years that the award has been bestowed – demonstrates that this sector is committed to women's business success. These companies passionately believe in the value of women's business to their ability to serve their clients and their employees with superior goods and services that these WBEs deliver.

Rigzone: How does WBENC groom women or help them along the way of their chosen career path?

WBENC: First of all, WBENC delivers world-class certification of WBEs as 51 percent-owned and operated by women. WBENC currently certifies more than 11,000 WBENC-WBEs.  Our corporate and government members rely on our WBEs' quality and they can access these WBEs through WBENCLink (a proprietary database) as well as the hundreds of events throughout the year presented by WBENC.

In fact, WBENC offers continuous development resources to WBEs throughout the year. This includes WBENC's major events, the Summit & Salute to WBEs where the Top Corporations were announced; and the upcoming 2013 WBENC National Conference & Business Fair, held June 25-27th in Minneapolis, which will attract some 3,500 corporations and women's businesses.

These WBEs have access to three days of nationally-acclaimed speakers, interactive workshops and business networking opportunities including the business fair with some 350 exhibitors. Workshops focus on what WBEs need to know to enhance their positions as suppliers: how to hone skills that are sought-after by their clients, leverage existing expertise for greater growth and build their capacity.

On an ongoing basis, WBENC offers a dynamic website with opportunities for WBEs to acquire important information on best practices for how to do business with major corporations, and the business trends affecting the marketplace.

Rigzone: With very few women CEOs in the energy industry, how can one pursue becoming a supplier to this industry without a mentor? How can they find one, if needed?

WBENC: We are speaking here of mentoring women business owners to become suppliers to major corporations, and once hired, to grow their business with them. WBENC's top corporations are exemplary in providing WBE development and access to direction and support in various forms. WBEs can and should also take the initiative to develop connections and present clear and compelling value propositions. To make connections with corporate decision makers, they should start by registering at the companies' supplier diversity websites, attend and network at the National Conference & Business Fair, and become involved in their RPOs.

Rigzone: With the energy industry seeking to diversify the companies they hire, what can they pull from WBENC?

WBENC: WBENC-certified WBEs are committed, established business owners. While they have families and outside interests, they come to WBENC events with a strategic business focus and a dedication to delivering quality products and services to their clients.  

What we have found is that the entire WBENC community – with our marketplace access, inspirational speakers and recognition of women's business owners who have demonstrated success – empowers women to succeed.  

Fifteen years ago, WBENC's goal was to level the playing field for women's businesses to compete and win corporate business. Today we have evolved to a point where we join forces and succeed together. We foster collaboration among corporations and WBEs to innovate, create improved products and services, and fuel economic growth. This lifts the conversation from "Can a woman-owned business succeed?" to "How do we work together to succeed." Our energy companies are at the heart of that positive conversation.

Rigzone: There are certain skills/personality traits one must possess to succeed in the business world. What are they and how can women pinpoint or instill this in young girls?

WBENC: Young women and girls interested in energy careers are strongly encouraged to pursue the Science-Technology-Engineering-Math (STEM) areas of expertise. Energy is a highly technical business, and many of the leaders of these companies have technical degrees. Technical training is also a very strong background for any young woman interested in starting her own business. Another key to success for a woman business owner is to take advantage of opportunities to surround her with peers and mentors who will help her grow her capabilities and business.

As an example of what energy companies are doing in this realm, Shell sponsored the 2012 Student Entrepreneur Program at last year's WBENC National Conference & Business Fair. This helped to prepare 15 promising young female entrepreneurs from historically black colleges and universities to fill the pipeline of future WBEs. This included cultivating mentors among leading WBEs and corporations, and attending the business fair and WBE workshops. Shell executives also worked with the students on the importance of building relationships, honing their technology expertise and building business skills.

With more than 10 years of journalism experience, Robin Dupre specializes in the offshore sector of the oil and gas industry. Email Robin at rdupre@rigzone.com.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

Senate Energy Committee Approves Obama Energy Secretary Pick

WASHINGTON - President Barack Obama's pick for Energy Department secretary won a near-unanimous endorsement from the Senate Energy Committee Thursday, paving the way for his expected confirmation by the full Senate.

The committee voted in favor of Ernest Moniz, a nuclear physicist from the Massachusetts Institute of Technology, who sailed through a confirmation hearing earlier this month.

The only senator voting against the nomination was Tim Scott, Republican of South Carolina, who had pressed Mr. Moniz during that earlier hearing about the department's decision to re-evaluate a nuclear fuel processing program in South Carolina.

Copyright (c) 2013 Dow Jones & Company, Inc.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

MEOS 2013: Re-thinking Energy

The 18th edition of the Middle East Oil and Gas Show (MEOS) – organized in Bahrain's capital city, Manama in March – saw major national oil companies (NOC), international oil companies (IOC) and service providers from 30 countries share their experiences and visions on current issues facing the industry.

Held under the theme of "Transforming the Energy Future", MEOS 2013 provided delegates access to over 140 presentations during 36 technical sessions as well as 50 poster presentations.

Organized by the Society of Petroleum Engineers (SPE), the conference's opening sessions featured high-ranking speakers representing major NOCs and IOCs, who delivered their perspectives of this year's theme.

Delivering the key note speech, H.E. Shaikh Ahmed bin Mohammed Al Khalifa, Minister of Finance and Minister in Charge of Oil & Gas Affairs, Bahrain said that the theme of this year's conference is well chosen.

"Transforming the energy future, is well chosen as we live in an era where change is the norm and agility and pro-activity means the success between success and failure."

The biggest challenge facing the industry today is not the management of the process of change, but the adaptation to the accelerated rate of change that will shift the oil and gas industry in the next new decade, said Shaikh Al Khalifa.

"To adapt, we need to introduce new methods of thinking and new work processes, to be able to meet the challenges faced by the society in general and energy sector in particular."

The game changers that can have potentially the greatest impact the way the oil and gas industry operates will be the unconventional fuel, renewable energy and energy efficiency measures, Shaikh Al Khalifa said.

"But, one of the challenges facing the industry is the availability of skilled human resources. It is important that the industry ensure the continuous investment in human resources to supply the industry with adequate number of skilled engineers."

Keynote speakers included Amin Nasser, senior vice president of, Upstream at Saudi Aramco; Martin Craighead, president and CEO of Baker Hughes; Paal Kibsgaard, CEO of Schlumberger; Sami F. Al-Rushaid, chairman and managing director at Kuwait Oil Company (KOC) and Sara Ortwein, president of ExxonMobil Upstream Research.

Saudi Aramco said that the best way to predict the future is to invent it, Nasser said.

"Just few years ago, peak oil theories were abundant and processing increasing unsustainable demand, however, the industry ingenuity through technology and exploration advancement notably with tight and shale gas in the U.S., has made abundant and natural gas as well."

Addressing the energy challenges for the future, not only for Saudi Aramco but also for international community, Nasser said that this is an integrated solution that not only look for supply side, but also for demand side, for a better and efficient use of the energy.

"This is a solution that must look at the both sides of the coin, and must be fundamentally sustained by new investments, talents and technology," Nasser added.

Speaking about Saudi Aramco's future strategy, Nasser said that his company is focusing on deep water exploration as well as unconventional resources.

"We have very recently expanded our exploration activities in the red sea, and we have completed series of seismic surface surveys. Currently we are drilling our first deep water well," Nasser said. "While our recent push to exploration for natural gas has been very successful and allowed the gas production to more than triple in few years. We are also aggressively targeting unconventional gas."

Meeting the growing energy demand required innovation and cutting edge technology, in order to be able to unlock new resources while gaining energy efficiency, ExxonMobil's Ortwein said.

"This will allow new supply to benefit more lives with less impact on the environment."

"As we look to the future, I have no doubts that the continued development of our people, and successful application of innovative technologies will help us supplying the energy the world's need," Ortwein added.

Meanwhile, Al Rushaid highlighted the future strategy of KOC, and said Kuwait has enough reserves to grow and maintain production capacity at 4 million barrels per day as per its 2030 strategy.

"Our investment plans are strong and schedule to deliver this capacity, and most of the growth is coming from primary and secondary recovery schemes in easy to medium complexity reservoirs," said Al Rushaid. "However, it is our strategy to not over exploits our easy oil, we plan to create a more manage transition to the more difficult oil structure," he added.

Kuwait plans to produce 3 trillion cubic feet of gas per year by 2030, Al Rushaid revealed.

In addition, Baker Hughes' Craighead stressed the importance of understanding the earth's subsurface to the future of energy. Reframing geoscience, Craighead explained, will play a major role in ensuring that the oil and gas industry delivers affordable energy safely, responsibly, and in a manner that is both economically and environmentally sustainable.

"Our industry is no longer solely about the extraction and distribution of hydrocarbons," Craighead said. "Rather, any discussion about energy is essentially a discussion about the much larger picture of survival, opportunity, and community."

The oil and gas industry is no stranger to challenges and uncertainties, Schlumberger's Kibsgaard said.

The industry is putting a lot of effort into advancing the engineered fluid systems. "If you look at the consumption of water in U.S. based fracking, a lot of it has to do with the fact that these are what we call "slick water" fracs.

"This is water and it's sand, so in order to make sure that the sand stays in suspension we need a high rate and a high velocity and we also need a high pressure to be able to frac," he said.

Other highlights during the course of the conference included a special breakfast session entitled "Financing the Change" delivered by H.E. Abdullatif A. Al-Othman, governor and chairman of the board of directors at Saudi Arabian General Investment Authority (SAGIA). The session addressed how the oil and gas industry can manage and finance itself in light of forecasts that approximate 15 trillion dollars will be spent in the next 10 years to meet expected future oil and gas demand.

Technology has played an important role in the development of hydrocarbon resources, and has made the unconventional resources an economically viable source of energy. Recent examples of technologies include horizontal and multi lateral wells, 4D seismic and advanced fracturing techniques.

Panelists at the technology required to unlock unconventional resources agreed that a game-changing area is hydrocarbon resource development that optimizes the application of technology in unconventional gas including shale gas.

More than 300 companies from 30 countries attended the MEO 2013 exhibition, which covered all areas of the upstream oil and gas industry, including production, reservoir management, drilling, completions, measurement systems, geology, geophysics, automation, transportation, health and safety, and information technology.

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