Monday, September 16th, Calgary Petroleum Club
Corporate Tables of 8 $3,400
Limited Time offer Special Pricing on Tables of 8 $2,900
Shawn Vammen, Senior Vice President, Superior Gas Liquids
NGL Business in Canada
The Situation – Natural gas liquids affect a broad range of industries across the economy - locally regionally and globally. The relationships across energy commodities are complex and intricate, and NGLs of all variants are an important component of the energy system and are crucial for our routines.
The Opportunity – The production of natural gas continues to drive NGL supply growth in Western Canada and thus create interesting business opportunities. Join Shawn Vammen, Senior Vice President of Superior Gas Liquids as he discusses the Canadian NGL in context to his firm and the overall industry.
Shawn Vammen, Senior Vice President, Superior Gas Liquids Mr. Vammen joined Superior Gas Liquids in 2008. With over 20 years of experience in the natural gas liquids industry, Mr Vammen has held positions of increasing responsibility at Mobil Oil Canada, Gibson Energy, and Sempra Energy Trading. He was Vice President, Supply and Marketing at Superior Gas Liquids from 2010 to 2014, prior to moving into his current position. He holds a Bachelor of Commerce (BCom) degree from the University of Alberta.
Navigating the Strategies and Accounting for Insolvent Partners
The Situation - Turbulent pricing, rising costs, and changing macro-level policy have challenged the industry and its ability to remain competitive. This has led to several companies entering into insolvency and their partners are now dealing with the fallout from these insolvent energy companies.
Now What? With certain operators and partners out of the picture, organizations must address how to handle (and account for) the relinquished asset retirement obligations, share of interests, working capital and so forth.
Join Michelle Willis, Gail Pilling and Hope Bishop from Husky Energy as they discuss their experience in dealing with the issues and ramifications stemming from the numerous insolvencies plaguing the energy industry.
From Paper to Digital: How Technology is Transforming Industry (panel)
The Situation – The energy industry is at a crossroads. On one hand, technology is at the forefront and it is pushing the capabilities and limits of what we can accomplish. However, with constrained capital, companies face the decision whether to be leaders or laggards in adopting these enhancements.
So What? As practitioners, it is imperative that we understand the value proposition of technologies such as smart contracts and how they are evolving the way we conduct business. Join PASC as we present a panel of professionals involved in the design and implementation of progressive innovations. Each panelist will discuss his/her passions and perspective on the impending digital transformation.
Strategy and Implications of Project Reconciliation
The Situation The way we’ve tried to build energy infrastructure hasn’t worked. Project Reconciliation represents new thinking, and the Trans Mountain pipeline is a historic opportunity to show what Reconciliation in action really is. Canada can make the Trans Mountain pipeline a Reconciliation pipeline by selling a majority stake to Indigenous communities, so they can create a Sovereign Wealth and Reconciliation Fund that will generate long-term revenues for Indigenous communities across the West.
Where are we at? Increasingly, Indigenous communities are seeking deeper engagement and have engaged in building economic partnerships in the oil and natural gas industry. In Alberta, BC and Saskatchewan, First Nations are saying they need to be a part of the energy projects that are occurring on their lands with ownership seen as the key to economic growth and prosperity. How are styles of negotiation evolving and what will the agreements and business partnerships look like? Project Reconciliation's innovative ownership structure is open to almost 340 First Nations and Metis communities in Alberta, B.C., and Saskatchewan. Project Reconciliation has submitted an offer and is ready to move into discussion/negotiation with the federal government. Stephen Mason, Managing Director & Founder, Project Reconciliation will join us to discuss the strategy and implications of this unprecedented approach.
The Joint Venture Audit “Hit List” and how it impacts you (panel)
The Situation – The new competitive landscape places greater constraints on resources. In turn, there are higher expectations for Joint Venture audit recoveries given the time and effort spent. Subsequently, effective auditors are proficient at using their limited resources to quickly determine key areas of focus and hone in on specific issues to raise, and their findings can often expose deeper underlying issues!
What’s in it for me? Being proactive and pre-emptive is advantageous for professionals and is also beneficial for companies. With a greater understanding of what auditors tend to look out for, developing enhanced organizational processes and procedures becomes a natural side-effect. Join PASC as it presents an excited panel of veterans to discuss the “hit list” of joint venture audit issues from both the corporate and auditor perspectives.
Modernizing the PJVA CO&O: Implications for Financial Practitioners
The Situation – The energy industry adopted the model Facility Construction, Ownership and Operating Agreement in 1996. However, in seeking to standardize cost-sharing terms through general guidance, the CO&O left matters open to interpretation and ultimately introduced unintended variations. Subsequently, the Petroleum Joint Venture Association undertook the task to update this landmark document twenty years later.
Where are we at? Stakeholder guidance on the new document indicated the need to address specific operational, administrative and cost-sharing issues while concurrently enhancing the document to meet future needs. The PJVA CO&O Task Force will discuss the accounting implications of the new document to better equip financial and accounting practitioners on how to navigate the changes.