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FALL 2015 – SPRING 2016

Energy Certificate Programs

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1 www.mccombs.utexas.edu/ExecEd

Energy Certificate

KEY BENEFITS OF THE SERIES

• Offers you an in-depth look at the economics, strategy, business valuation and finance specific to the energy industry.

• Offers industry managers and executives a unique opportunity to improve their business acumen in an environment focused on the complexities of their field.

• Program features faculty from the McCombs School of Business, the Cockrell School of Engineering and the Center for Energy Economics.

REQUIREMENTS

To earn an Energy Certificate, you will complete:

• Six courses in any order

LocationThe Houstonian Hotel111 North Post Oak LaneHouston, Texas 77024

Cost of our Energy programs:• $7350 for the Certificate, or• $1395 for each single course• Includes materials, light breakfast and lunch

PROGRAM SCHEDULE 2015 2016

Economics & Technology of the Crude Oil, Natural Gas & LNG Value Chains

Sept 18

Energy Finance Oct 23

Global Oil & Gas Accounting and Contracting Procedures Nov 6

Energy, Technology and Policy Dec 4

Managing External Stakeholder Relationships Feb 5

Economics & Technology of the Electric Power Value Chain

Feb 26

Business Valuation Apr 15

Decision and Risk Analysis in Hydrocarbon Exploration and Production

May 27

www.mccombs.utexas.edu/ExecEd 2

September 18, 2015

Economics & Technology of the Crude Oil, Natural Gas & LNG Value Chains

OBJECTIVE

This program is designed to provide an overview as well as advanced topics on global oil, natural gas and LNG value chains. Participants will discover the economics, technology, policy/regulatory issues and business strategies and trends that affect these value chains. Global market conditions, U.S. and international case studies, oil and natural gas market outlooks, and example project investments are used to illustrate and provide hands-on experience.

BENEFITS

• Review key value chain economics, business and technology features impacting investment projects

• Gain a perspective on strategic planning for governments and investors• Understand the relationship between global energy balances, prices and

investment cycles• Learn the role technology and technological innovation play in the value chain

FACULTY

Gürcan Gülen, Ph.D. Senior Energy Economist, Bureau of Economic Geology’s Center for Energy Economics

“Completing the Energy Certificate program was very impactful. Not only did it deepen and broaden my knowledge in various areas within the Energy Value Chain, but it also allowed me to network with professionals working across different facets of the industry.” Sheri L. Sheppard Director - Energy FinancePricewaterhouseCoopers, LLP


October 23, 2015

Energy Finance

OBJECTIVE

This program is designed to provide you with an in-depth understanding of energy finance by addressing three areas: pricing, asset valuation and risk management.The program will begin by placing energy markets in the context of global financial markets. You will develop an understanding of how to model and forecast energy and forward/futures prices. You will then focus on energy-related derivatives and different derivative products and learn how to apply them.

You will leave with an understanding of energy markets and how to measure and manage the financial risks created by volatile energy prices.

This program will be invaluable for those involved in financial and quantitative analysis, valuation and structuring and trading positions within major energy companies as well as investment banks, consulting and financial services firms.

BENEFITS

• Understand international financial markets• Measure the uncertainty of equity, credit and commodity markets• Use financial models to analyze and forecast energy prices and volatility• Understand the risk of and return from futures and options contracts on

energy commodities• Apply option and valuation techniques to the energy markets• Understand and use derivative products to mitigate energy price risk• Utilize real options theory to value energy assets• Use information from futures/options prices to determine optimal production

decisions and timing for extraction• Apply Value-at-Risk to energy industry

FACULTY

Ehud Ronn, Ph.D. Professor of Finance,Director of Center for Energy Finance Education and Research

“Great content – very applicable to my work.” Mark LeMaireCapital Risk and Fleet ManagerU.S. Development Group

“Strong instructor and presentation.” Lonnie SmithPresidentTurnco LLC


November 6, 2015

Global Oil & Gas Accountingand Contracting Procedures

OBJECTIVE

This program will present an examination of the current accounting and financial environment and how World Reserves, Consumption, Doing Business Internationally, Accounting Rules, Disclosures and Creditability all come into play. You will investigate the accounting and financial aspects of international oil and gas operations and gain a working knowledge of key oil and gas issues, techniques, practices and terminology. The program consists of the following parts: (i) Accounting for International Petroleum Operations, (ii) Accounting for International Contracts, and (iii) Financial Management, Planning and Analysis.

BENEFITS

• Discover how to make better accounting and financial decisions• Learn how we disclose the reserves and use the data for financial purposes• Discuss the Major Contracts used on a world-wide basis and how they work• Understand the Joint Venture Contracts and how they work• Realize accounting issues, problems and solutions with regard to GAAP/SEC

vs. Contract Accounting vs. Government Accounting and so on

FACULTY

W. Wayne Scott Lecturer of Accounting

“Presenter – outstanding, experienced.”

Sarvesh BhavaraProject Engineering SupervisorBechtel


December 4, 2015

Energy, Technology and Policy

OBJECTIVE

Participants in this course will be provided with an overview of “The Big Picture: Energy & Society.” This fast-paced, information-packed session will cover a range of topics beginning with “Basics and Fundamentals” and then delving into the part that energy plays in our environment, including “Energy and Water” and “Energy and Food.” You will explore how energy and energy policy affects culture and humanity and wrap up with a discussion on critical technologies of the future.

Other topics this course will touch upon include: Fossil Fuels: Conventional and Unconventional, Nuclear and Renewable Power, Electricity, Transportation, Energy Policy Basic, Energy and the Economy and Energy and Water.

BENEFITS

• Understand the central role energy plays in society• Discover how energy is interconnected with other sectors• Leave with a whole new view about energy

FACULTY

Michael Webber, Ph.D. Co-Director of the Clean Energy Incubator and Associate Director of the Center for International Energy and Environmental Policy

“Dr. Webber’s knowledge and presentation style is great!” Joseph FronzaglioDirector, Internal AuditHollyFrontier Corporation


February 5, 2016

Managing External StakeholderRelationships

OBJECTIVE

This program will examine the management of ethical, legal, political and cultural risks (and opportunities) associated with developing energy projects in emerging markets, including upstream and downstream oil and gas investments. We will focus on companies’ social responsibility efforts, the management of relationships with external stakeholders, and how politics, culture and law structure companies’ relationships with governments and other stakeholders in emerging markets.

BENEFITS

• Learn how to manage your firm’s relationship with external stakeholders, both governmental and nongovernmental

• Explore important social responsibility issues in the oil & gas industry, including environment, human rights and governance

• Examine how law, politics and culture structure relationships with stakeholders

• Explore the law and politics of the siting process, including environmental permitting

FACULTY

Christopher H. Meakin, JD Senior Lecturer of Business, Government and Society

“Interactive and knowledgeable instructor. Good discussions.” Andrew SheilsOfficer, Sr. Operations Analyst - DerivativesMerrill Lynch Commodities


Economics & Technology of the Electric Power Value Chain

OBJECTIVE

Participants in this program will gain a working understanding of electric power. The program explores global electric power value chain economics, technology, policy/regulatory issues, business strategies and trends. Global market conditions, US and international case studies, oil market outlooks and sample project investments will be utilized for better understanding and hands-on experience.

BENEFITS

• Understand and discuss technical issues in the electric utility industry• Gain an understanding of the issues through analogies between electric power

and familiar experiences• Review key value chain economics, business and technology features

impacting electric power investment projects• Gain a perspective on strategic planning for governments and investors• Identify sources of political and business risk related to country risk

assessment and risk management considerations• Discover relationships between electric power value chains and economic

development including drivers for global electricity supply-demand balances and prices

• Learn the role technology and technological innovation play in the electric power value chain

FACULTY

Ross Baldick, Ph.D. Professor of Engineering

“Great content. Very good instructor. Best I’ve taken in the energy certificate so far.”

Andres PerezCaterpillar Oil & Gas

February 26, 2016


April 15, 2016

Business Valuation

OBJECTIVE

This course walks participants through the valuation tools and techniques used to estimate enterprise values as well as large-scale investments in power plants, refineries, and oil & gas development projects. The majority of the class will feature hands-on exercises using Excel and other add-in packages. The goal is to gain enough model building and interpretation skills to become an intelligent consumer of models encountered when valuing projects and companies.

BENEFITS

• Learn how to construct discounted cash flow forecasts used to value the business enterprise

• Estimate the appropriate cost of capital for valuing projects that have different risks

• Carry out sensitivity analysis of valuation projects including break-even sensitivity and simulation

FACULTY

Joe Hahn, Ph.D. Professor of Finance

“The course work was fast paced and thorough. The instructors did not rely on academic experience alone, but exhibited a depth of industry experience that participants could easily comprehend. I was pleased with the presentation of material, the pace of the program and the content delivered.”

Randy Cornell, GISPGIS ManagerBRP LLC

“Very knowledgeable - good speaker. Real world examples. Easy to understand and follow.”

Todd EckhardtProduction EngineerEnervest, Ltd.


May 27, 2016

Decision and Risk Analysis in Hydrocarbon Exploration and Production

OBJECTIVE

This program will present approaches for modeling decisions and uncertainties that arise in the context of oil and gas project management. The risks include those associated with estimates of hydrocarbon reserves and recovery rates, as well as those associated with the economic risks related to investment cost and oil prices.

This course will begin with a review of the ideas associated with risk analysis as it relates to the production of hydrocarbons over the life of an oil field. Next, we will review economic modeling, and illustrate how these risks should factor into decision making in oil and gas investments. We will emphasize the use of information and of options to enhance economic value and to manage project risks.

BENEFITS

• Review economic modeling and understand how risks should be incorporated into decision-making in oil and gas investments

• Understand how to frame the decision opportunity (decision hierarchies and strategy tables)

• Model complex projects with influence diagrams• Learn how to do deterministic sensitivity analysis (Tornado Diagrams)• Develop skills on using decision trees as a means of structuring risky problems• Learn how to use information and options to enhance economic value and to

manage project risks• Use hands-on software tools that support the analysis of risky decision problems

FACULTY

Jim Dyer, Ph.D. Professor of Information, Risk and Operations Management

“This class provided useful examples and Dr. Dyer did a really good job of walking us through the scenario and software. This topic is useful to me as I am involved in the M&A process at my company. I really like the @Risk scenarios.”

Erica MickensAssistant Corporate ControllerBristow Group Inc.


NEW! Energy Strategy & Finance Certificate

Texas Executive Education and the University of Alberta Executive Education have partnered to serve leaders seeking a competitive edge in the evolving global context of the energy industry. The Energy Strategy and Finance Certificate encourages participants to challenge modern business perspectives as well as gain relevant, practical knowledge from world-leading academics and industry experts.

This North American collaboration is unique to the industry, and unified in its goal to shape influential, relevant, and confident leaders well-prepared to face the sophisticated energy challenges of the future.

Contact us or visit our website for more details and to register.

About Texas Executive Education

Since 1955, our innovative executive programs have offered business professionals the insights that enable them to lead, think strategically and manage change.

The reputation of the McCombs faculty is world-renowned. With nearly 200 members, the faculty includes scholars representing virtually all of the major management disciplines and functions. All are dedicated educators who conduct research in their respective disciplines, as well as serve as consultants and board members for leading corporations globally. And they bring this knowledge to the programs they design and teach.

Contact UsTo register for programs: www.mccombs.utexas.edu/execed/energyseries1 (888) 655-2508 For information about Open Enrollment and Certificate Programs, call: Lynn Slattery Director of Open Enrollment ProgramsPhone: 512-232-9462

Team Discounts: A 10 percent discount is available to teams of three or more participants

from the same organization who register for the same Open Enrollment program.

Alumni Discount: A 10 percent alumni discount for individual Open Enrollment courses

is offered to University of Texas at Austin alumni.

Government Discount: Government employee discounts are available. Call for details.

Mailing Address:Texas Executive EducationMcCombs School of BusinessThe University of Texas at AustinP.O. Box 8424Austin, TX 78713-8424

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