Building a material portfolio for growth in a mature basin North Sea Oil & Gas Summit 2013 15th April 2013
Challenges for a new UKCS entrant Funding Data Resourcing Partnering Asset Acquisitions Accessing infrastructure 2
Challenges for a new UKCS entrant Funding Private Public Debt Markets Seed AIM Reserves Capital TSX Based Private Ventures Lending Equity Key things investors are looking for: Management team & track record Sound business…
Challenges for a new UKCS entrant Funding Private Public Debt Markets Seed AIM Reserves Capital TSX Based Private Ventures Lending Equity Institutional Investors looking for: Experienced and well-balanced management team…
Challenges for a new UKCS entrant Funding Private Public Debt Markets Seed AIM Reserves Capital TSX Based Private Ventures Lending Equity Advance sales Lending banks are looking for: Significant contribution from equity…
Challenges for a new UKCS entrant Data & Resourcing Data: Building a decent database takes time and effort Generally good access at low cost across North Sea Germany remains an anathema inside Europe as no data release requirements…
Challenges for a new UKCS entrant Partnerships Partnering: Importance of operatorship Operatorship offers control but can stretch resources Operating capability widens opportunity set Hansa chooses to operate where necessary to…
Challenges for a new UKCS entrant Asset Acquisitions & Infrastructure Access Asset Acquisitions: Much low hanging fruit is to be found within production licences UK Brownfield Incentive should stimulate more activity Acquiring…
Hansa Hydrocarbons An Introduction Hansa started out with 100 million from US Private Equity in 2008 Aim to become the leading private E&P pure gas play across the Southern North Sea and Northern Europe Have established a…
Hansa Hydrocarbons Location Map A congruent portfolio across two core areas 10
A portfolio built for long term growth Project Block(s) Country Equity Operator Status Juliet 47/14b UK 19% GDF Suez Under Development Thoresby 48/17d UK 100% Hansa Appraisal 47/13b, 14b,c, d, Greater Juliet Area UK 19% GDF Suez…
UK Core Area Juliet Field GdF Suez (op) 51.56% First Oil 29.44% Thoresby Field (part) Hansa 19.00% Hansa (Op) 100% Greater Juliet Area GdF Suez (op) 51.56% First Oil 29.44% Hansa 19.00% Low relief play with development & E&A…
UK Core Area Juliet Field Development Pickerill A Platform Export to Theddlethorpe Tie-in via new 12 Riser & onshore compression Control Umbilical tie-in via J-tube Via 63km 24 Pipeline Eductor to mitigate back-out 22km 12 22km…
German & Dutch Core Area H&L Blocks Wintershall (op) 40% GdF Suez 40% Hansa 20% 4 Quads Hansa (op) 60% EBN 40% Forward work program is 3D seismic acquisition over both areas 14
Southern Permian Basin A mature basin with multiple play types Southern Permian Basin has yielded 260 tcf or reserves with 79 tcf remaining 15
Southern Permian Basin Creaming Curve With Groningen Still growing Without Groningen Source: Southern Permian Basin Atlas For a mature basin still observe steady growth in discoveries 16
Applying leading-edge technology over well-trodden ground New entrants with focused management teams willing to apply new methods to the basin: Tight gas reservoirs Applying multi-stage hydraulic fracturing Complex Overburdens…
Overlooked Areas & Play Extensions Two main categories of opportunity: Missed pay: Revised regional understanding can bring new ideas to bear and many old wells may have clues to new potential Commercial discontinuities:…
4Quads A play extension in an overlooked area H&L Blocks L1-Alpha discovery (1975) H&L Blocks L2-D discovery (1969) G18-1 & H16-1 drilled by NAM in 1983 Gas in thin Havel sands Location of pre-installed T- piece in NGT…
4Quads New data combined with lateral thinking Top Havel FS depth map, 50m contours Large regional high drilled in the 1980s finding gas in thin Havel & Carboniferous sands in a crestal location Hansas proprietary knowledge from…
Concluding Remarks Different business plans call for different sources of capital Market environment is such that successful projects deliver attractive returns In a mature basin, nothing is easy Due to lack of capital in secondary…
Loading...
