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The James Watt Lecture.

Thursday, 24 January 2019, 6 p.m., Edinburgh
Exploration New Ventures: From Idea Generation to Opportunity Capture

Eric Hathon, Exploration Director, Cairn Energy

Royal Scots Club, 29 Abercromby Place, Edinburgh EH3 6QE

This Scottish Oil Club Event is held in partnership with the Watt Club, the alumni association of Heriot-Watt University, who have a long-held tradition of recognising James Watt’s birthday each year by "supping" together. In recognition of Heriot-Watt’s long established association with the Scottish Oil Club, the annual January "James Watt Lecture" be delivered by a leading commentator who will address aspects of the role of oil and gas in the broader energy sector. The role of research and contribution of universities in supporting industry to address global societal challenges will also be discussed. After the presentation there will be the opportunity to network, "sup" together and toast James Watt’s contribution to science and engineering.


Sponsorship is provided by Watt Club, Heriot-Watt University, and Scottish Oil Club.


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Sponsorship


Special funding for the James Watt Lecture evening.


Funding for student participation from member universities provided by Scottish Oil Club.

Synopsis

Generating value from an evolving exploration portfolio of prospects which mature into a choice of material drilling targets is essential for most upstream oil and gas companies. To maximize the potential that exploration opportunities will be economically robust and drive portfolio value they must demonstrate compelling subsurface, commercial and above ground attributes. These must be evaluated holistically to capture the true value potential and risk profile; they cannot be treated in isolation. This must be done expeditiously to stay ahead of the competition. We will discuss how properly assessing each of these elements and their relative contribution to total prospect or play value is critical to maximizing the chance of commercial success and ensuring the EMV of the portfolio is enhanced.

We will review the interplay between these critical components during the evaluation of new entry opportunities: 1) subsurface elements, deriving play and prospect chance of success and in-place resource volumes, 2) Commercial value, which encompasses fiscal terms, recoverable volumes, development concepts and path to commerciality, and 3) above ground risk assessment (AGRA), identifying non-technical issues which could stifle monetization and/or generate unacceptable risks to people, the environment, property and reputation. Cairn’s recent new opportunity entries will provide cogent examples.

Speaker

Eric Hathon holds a Bachelor of Science in Geology from Michigan State University, and a Master of Science and a PhD in Geology from the University of Missouri. He joined Marathon Oil Corporation in 1991 as a geologist and held a variety of management positions, including production manager in the Gulf of Mexico and exploration manager for the southern U.S., Norway, Angola and Libya. Eric was named Manager of International New Ventures in 2011 and Director of Exploration for Marathon in 2015. In 2017 Eric joined Cairn Energy as Director of Exploration based in Edinburgh, Scotland.

Arrangements

Neither video nor audio recording is permitted at this event.

Members and guests are invited to convene between 17:30 and 18:00 for coffee/tea and biscuits (pay-bar available). Meeting commences at 18:00. An opportunity for informal discussion between members and guests will follow the presentation in the Cocktail Bar until commencement of the Discussion Dinner (Chatham House Rule) at about 20:00.

Menu: Cock-a-leekie terrine ~ Haggis, neeps and tatties with peppercorn sauce ~ Drambuie parfait with whisky syrup

Wine: Brise de France, Sauvignon Blanc, Languedoc, France, 2016 ~ Brise de France, Merlot, Languedoc, France, 2016

Special Venue Information

The Royal Scots Club offers availability of overnight accomodation to SOC members. Contact the Royal Scots Club on +44-131-556-4270 or book here.

Booking

Cost: £35.00 inclusive of VAT for dinner. Presentation-only free of charge.

Cancellation Policy: If you must cancel, please do so before Wednesday, 23rd January 2019 6 p.m.. After this moment, we make a head-count committment with the venue. If you cancel after that and you have booked a dinner, we will be pleased to give the dinner you paid to another guest.

Bookings for dinner are required. Bookings for you to attend only the presentation are normally not required (unless specified otherwise for a particular event), but we would appreciate if you could let us know anyway since we need to monitor the total head-count. There is no charge for attending the presentation-only.

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Book By Email
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For more information on booking and paying, see How to Book and Pay.

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