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“Surviving Volatile Times”Volatile equity markets. Volatile credit and financial markets. Volatile commodity markets. The Louisiana Energy Conference will gather energy professionals from regional exploration and production and energy service companies together with leading energy analysts as companies provide their outlooks on their respective companies and their industry.
What is the Louisiana Energy Conference?
The goal of the Louisiana Energy Conference is to bring together energy professionals from regional exploration and production and service companies together with leading energy analysts as companies provide their respective outlooks on their companies and their views on our industry. The extreme volatility observed in our markets has created tremendous challenges for companies to manage, with many new challenges appearing on the horizon. The Louisiana Energy Conference will showcase our regions energy companies as they provide their plans for approaching such challenges.
In addition, the Louisiana Energy Conference is excited to announce its inaugural Friday Workshop Series, a joint-venture with the Tulane Energy Institute, entitled “Tools for Surviving Volatile Times”, which is a unique opportunity for a hands-on workshop for tuning and developing skills while having an opportunity for a more in-depth discussion on selected topics. The workshop is also being sponsored by Trading Technologies, Inc. and Thomson Reuters.
Click HERE for a link to the Tulane campus map.
What is the Tulane Energy Institute?
The Tulane Energy Institute was founded in 2003 to provide educational opportunities and to pursue research programs that are aimed at improving the understanding of the integration of energy markets, policy, technology, and the environment.
The energy industry operates on a global scale and faces numerous challenges, including adapting to changing regulatory frameworks and contributing to the solution of major environmental challenges facing the Nation and the World. Tulane University is situated in the Gulf Coast area of the United States, where much of the country¹s energy infrastructure and production are located.
Recognizing its critical importance, Tulane made a strategic decision to focus on the energy industry and related sectors to both prepare students for careers in the energy industry as well as to serve the public by pursuing primary research in business, economics, engineering, and the sciences.
Louisiana Energy Conference Lunch Speaker Topics May 13, 2009 – Lunch Speaker“Survival in the Equity Markets” - Peter Ricchiuti
May 14, 2009 – Lunch SpeakerTulane Energy Institute – “Survival in the Energy Markets” Geoff Parker “Tools for Surviving Volatile Times”The Friday Workshop requires registration and will include the following sessions:
“Tools for Surviving Volatile Times”
Date and Time: Friday May 15, 2009, 8:45 – 9:05 AM Prof. Eric Smith, Associate Director, Tulane Energy Institute
Understanding the root causes of volatility in the energy markets is the key to arming your organization with the proper tools for managing and surviving the effects of such volatility. While volatility is considered “bad” by most operators, particularly those interested in making long term arrangements for the sale of production; traders find volatility in a market to be “good”, the single most important driver for making a particular market attractive, whether that market involves oil, gas or pork bellies. Without the transaction volume and liquidity provided by traders, most risk management strategies simply won’t work. At the operational level, the ideal long term solution to managing volatility is to always have excess production capacity, not just as a company but as an industry. That excess capacity can be the result of increases in productive capacity or as has recently been the case, can be major decreases in market demand. While we have had historical periods when the excess supply condition has been met, the prospects are not bright for a repeat performance in the energy sector.
Tools for Understanding & Managing Volatility in the Supply Chain Date and Time: Friday May 15, 2009, 9:05 – 9:30 AM Prof. Geoff Parker, Director, Tulane Energy Institute
Volatility is a fact of life for supply chains across most sectors. We examine underlying drivers of supply chain volatility and discuss methods to reduce it. A major focus is on contractual relationships along the supply chain and the flows of information. Strategies differ for consumables, durables, and capital equipment. We conclude with practices designed to improve integration among supply chain partners. The New Tools of Energy Trading Date and Time: Friday May 15, 2009, 9:45 – 10:15 AM Leo Murphy, Trading Technologies, Inc.
Managing Commodity Price Volatility Date and Time: Friday May 15, 2009, 10:15 – 11:15 AM Trading System Training and Simulation Prof. Joe LeBlanc, Associate Director, Tulane Energy Institute
This workshop session will be conducted in Tulane University’s state-of-the-art $3 million energy trading room and will involve hands-on training and a simulated trading exercises to provide participants with direct experience with the skills that today’s students are entering the marketplace with. It will also provide participants with the requisite knowledge of the challenges, opportunities, and risks associated with managing such a new, but required, commodity trading operation.
Algorithmic Trading – Can you compete with it? Date and Time: Friday May 15, 2009, 11:15 – 11:45 AM Leo Murphy, Trading Technologies
Volatility – Managing Market Information Date and Time: Friday May 15, 2009, 11:15 – 11:45 AM Nick DiCosola, Thomson Reuters
The Next Decade for Energy – How do we survive the volatility? Date and Time: Friday May 15, 2009, Noon – 1pm Lunch Discussion Location: Tulane campus, Building GWII, Room 1111
Panel Discussion Profs. Geoff Parker & Eric Smith, Moderators: Tulane Energy Institute
Change creates uncertainty in the expected returns and requirements that affect the energy market, which is dominated by large, long-term investments in a heavily regulated and environmentally sensitive industry. Change has recently developed in the financial markets which alter the sources of capital, the ability to fund operations, mergers, divestitures, and basic ordinary financing requirements of our industry. Given that energy is one of the top three initiatives of the new administration, the markets and classical valuation and survival methods will be challenged as we seek the appropriate balance of risk, reward, and survival.
This panel will explore through discussion the ideas and alternatives under review and consideration by the industry leaders.
The Tulane Energy Club
During 2008, the amount of interest by students in learning more about the energy industry sparked the creation of a student-led organization called the “Tulane Energy Club”. The primary role is to enhance the professional opportunities for students interested in the energy field. Strategically, the club provides members with practical experiences and networking contacts that help them in their job search upon leaving school.
Shell’s Robert Training facility Exxon’s Chalmette Refinery Oceaneering’s Morgan City ROV facility
The club is also organizing for the fall of 2009, the first college Tulane sponsored Energy trading competition which will invite numerous universities to participate in this high-exposure event.
Speaker Bios
Geoffrey Parker is the Director of the Tulane Energy Institute and an Associate Professor at the A. B. Freeman School of Business at Tulane University. Dr. Parker received a B.S. in Electrical Engineering and Computer Science from Princeton University, an M.S. in Electrical Engineering in the Technology and Policy Program at the Massachusetts Institute of Technology (MIT), and a Ph.D. in Management Science from the MIT Sloan School of Management. Dr. Parker's graduate research included a systems analysis and planning effort to understand and guide expansion options for the New England electricity sector. Parker’s recent research includes a cross-industry study of outsourced engineering projects, a study of the design of platform markets with network externalities, an analysis of the performance of markets for electric power financial transmission rights, and a study of the effect of carbon policy on electric power systems capital investments. Along with his duties at Tulane, Dr. Parker serves as an associate editor of the journal Management Science and a senior editor of the journal Production and Operations Management. Parker also serves on a number of corporate boards in an advisory capacity. Prior to his teaching at Tulane, Dr. Parker worked at the General Electric Company in finance and engineering. Eric Smith currently serves as Associate Director of the Tulane Energy Institute and as a Clinical Professor at the A. B. Freeman School of Business at Tulane University. During 2003 he served as V.P. Strategic Planning for Global Industries, Ltd. During 2000 and 2001, he was Executive Vice President of Torch Offshore. Between 1998 and 2000, he was Chairman of Saipem Inc., the US subsidiary of the Italian offshore construction and drilling contractor. He has also been on the Boards of Dyn-McDermott, the operator of the Strategic Petroleum Reserve, CRP, an English manufacturer of deepwater hardware, and of NOIA, the main trade association of the offshore industry. He has assisted two firms in accessing the financial markets, raising $500mm for SAIPEM and $80mm for Torch Offshore. He also set up Saipem’s US subsidiary in 1999 to perform the Diana Hoover DDCV installation for Exxon in 5,000 feet of water, 186 miles south of Galveston, Texas. He is a Chemical Engineer and a Tulane MBA, class of 1967, with 36 years of direct experience in both the onshore petrochemical and offshore oil and gas arenas. Joseph H. LeBlanc currently serves as Associate Director of the Tulane Energy Institute, Director of the Trading Center and as a Clinical Professor at the A. B. Freeman School of Business at Tulane University. Mr. LeBlanc joined Tulane as an adjunct professor in the spring of 2007 and then as a full-time Professor in July 2008. He joins Tulane with over 25 years of experience in the oil and gas and industry with most recently serving as Treasurer and interim principle financial officer of Energy Partners, Ltd where he was responsible for treasury, commodity marketing, hedging, and corporate planning activities. Mr. LeBlanc was also a Derivatives and Risk Trader for Shell Oil Company, Manager of Finance and Business Development for McMoRan Exploration Company, and held a variety of roles including Manager of Commodity Risk, Planning Coordinator, and Audit Coordinator for the Louisiana Land and Exploration Company. Mr. LeBlanc received his B.S. in Accounting and Computer Science from Loyola University in 1982 and is a Certified Public Accountant (CPA), a Certified Information Systems Auditor (CISA), and a Certified Data Processor (CDP). Speaker Bios Peter F. Ricchiuti is a clinical professor, an assistant dean, and founder and director of Burkenroad Reports at Tulane University's A. B. Freeman School of Business. His insight and humor have twice made him the Freeman School's top professor. He teaches courses focused on the activities of sell side analysts as they review the performance of a large group of publically traded, regional companies. After a successful career with the investment firm of Kidder Peabody, Peter served for five years as the assistant treasurer and chief investment officer for the State of Louisiana. There he skillfully managed the State's three billion-dollar investment portfolio. He received his bachelor’s degree in Finance at Babson College in Massachusetts and an MBA from the University of New Orleans. In 1993 Peter founded the BURKENROAD REPORTS investment research program, where he leads a team of more than 200 business students in search of the investment "skinny" on undervalued stocks in six southern states. He and his program have been featured in The Wall Street Journal, The New York Times, The Washington Post and CNN. Nick DiCosola - Vice President – Professional Services Group, Thomson Reuters Regional US Nick DiCosola has over 15 years of real-time market data experience. He rejoined Thomson-Reuters in 2003 and currently manages and directs all technical account management and engineering in the central US for Thomson-Reuters. Prior to that, he spent 3 years managing and designing the market data infrastructure at Wolverine Trading LLC in Chicago. Nick DiCosola joined Reuters America LLC. in 1993 and has spent his entire career at Reuters designing and integrating market data solutions at many of their largest clients. Nick DiCosola began his career in 1985 with DAI Technologies Inc. in the Chicago area as a staff engineer designing real-time electronic control system software. He holds 2 joint patents for real time controls algorithms. Nick DiCosola in an IEEE member and holds a Bachelors Degree in Computer Science from Elmhurst College. Leo Murphy - Leo manages Trading Technologies’ University Program. The University Program’s goal is to equip schools with TT’s X_TRADER® software through corporate software donations. Universities in turn apply the software to their curriculum as they see fit. The experience has been that by donating the software universities benefit from its use while TT benefits from the university’s feedback and application.
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