Twelfth Annual

ENERGY

CONFERENCE

RECAP

February 29 - March 2, 2012

Exploration & Production

Lee Boothby Chairman, President & Chief Executive Officer Newfield Exploration Company

Stephen Chazen President & Chief Executive Officer Occidental Petroleum

Dan Dinges Chairman, President & Chief Executive Officer Cabot Oil & Gas

Tim Dove President & Chief Operating Officer Pioneer Natural Resources

Kevin Fitzgerald Executive Vice President & Chief Financial Officer Murphy Oil

Jim Flores Chairman, President & Chief Executive Officer Plains Exploration & Production

Jeff Hume President & Chief Operating Officer Continental Resources

Tim Leach Chairman, President & Chief Executive Officer Concho Resources

Steve Mueller President & Chief Executive Officer Southwestern Energy

John Pinkerton Chairman Range Resources

Taylor Reid Executive Vice President & Chief Operating Officer Oasis Petroleum

John Richels President & Chief Executive Officer Devon Energy

Dave Roberts Executive Vice President & Chief Operating Officer Marathon Oil

Irene Rummelhoff Senior Vice President, Strategy & Business Development Statoil ASA

Dave Stover President & Chief Operating Officer Noble Energy

Scott Woodall Chief Operating Officer Bill Barrett

Offshore Drillers

Christian Beckett Chief Executive Officer Pacific Drilling

Lawrence Dickerson President & Chief Executive Officer Diamond Offshore Drilling

Mark Keller Executive Vice President Business Development Rowan Companies

Rob Saltiel President & Chief Executive Officer Atwood Oceanics

Capital Equipment

John Gremp Chairman, President & Chief Executive Officer FMC Technologies

Loren Singletary Vice President Investor & Industry Relations National Oilwell Varco

Large Cap Service

Bernard Duroc-Danner Chairman, President & Chief Executive Officer Weatherford International

Tim Probert President, Strategy & Corporate Development Halliburton Company

Peter Ragauss Senior Vice President & Chief Financial Officer Baker Hughes Incorporated

Land Drilling & Well Intervention Services

Hans Helmerich Chairman & Chief Executive Officer Helmerich & Payne

Kenneth Huseman Chief Executive Officer & President Basic Energy Services

Kevin Neveu Chief Executive Officer Precision Drilling Corporation

Trey Whichard Vice President & Chief Financial Officer Key Energy Services

Small Cap service

David Demshur Chief Executive Officer Core Laboratories

David Dunlap President & Chief Executive Officer Superior Energy Services

Gary Kolstad President & Chief Executive Officer CARBO Ceramics

Cindy Taylor President & Chief Executive Officer Oil States International

Refining

Mike Jennings Chief Executive Officer HollyFrontier

Bill Klesse Chairman, President & Chief Executive Officer Valero Energy Corporation

Mike Palmer Senior Vice President, Supply, Distribution & Planning Marathon Petroleum Company

Dan Romasko Executive Vice President, Operations Tesoro Corporation

Coal

Brett Harvey, Chief Executive Officer & Chairman of the Board CONSOL Energy

Jim Thompson President Energy Publishing

Richard Whiting President, Chief Executive Officer & Director Patriot Coal

Simmons & Company International

Twelfth Annual Energy Conference Panel Participants

Industry Executives Discuss Changes,

Challenges and Opportunities

Now in its 12th year, Simmons’ annual Energy Conference brings together CEOs and other top executives from multiple segments of the energy industry. Executives meet one-on-one with investors, and engage in lively panel discussions about issues facing the industry today, as well as challenges and opportunities that lie ahead.

This year, 41 energy executives from the exploration & production, energy service and equipment, refining and coal segments participated in 11 panel discussions on topics that ranged from natural gas pricing, to international offshore plays, to North American supply bottlenecks. Among the most significant takeaways were:

• The transformation of the North American energy industry, and the profound economic implications of these structural changes, in the U.S. and abroad.

• Widespread enthusiasm for oil exploration and production, and the oil price outlook.

• Near-universal pessimism about natural gas prices—possibly extending for several years.

• A strong outlook for the service and equipment industries, both onshore and offshore, both domestic and international.

• Optimism in the resumption of activity in the Gulf of Mexico, and future growth and profitability there, at least among the largest producers.

• Improving global competitiveness of the US refining industry driven by low costs domestic oil and natural gas supplies.

• Participants in the Simmons Conference offered frank observations of the industry and its prospects ahead. Below are some of the answers, in executives’ own words, to many of the questions now facing the industry.

SIMMONS & COMPANY INTERNATIONALT WELFTH ANNUAL ENERGY CONFERENCE REPORT 1

The technology-driven transformation of

the North American energy industry may

now be decades old, but many panelists

were still shaking their heads in disbelief

at the changes they have witnessed. “I

was a peak oil believer until five years

ago,” said Irene Rummelhoff, Senior

Vice president of Statoil ASA. “What is

happening now is amazing.”

Valero Energy Corp.’s CEO Bill Klesse

was even more emphatic about the

historic nature of the industry’s

transformation. “In my 40-year

career, this unconventional oil &

gas boom is probably the biggest

thing that has ever happened, for

the U.S. and ultimately for the

world,” he said. “It is going to be

very remarkable, watching where

this goes in five to seven years.”

Industry executives tip their hats

to engineers, who seem to have

replaced wildcatters as the heroes

of the today’s North American energy

renaissance. “What has changed is the

shale plays and the repeatability of these

plays,” said John Pinkerton, Chairman

of Range Resources. “All these brilliant

engineers have created this.” The

domestic industry’s transformation is

already having a substantial positive

impact on the U.S. economy—and its

ability to create high-paying jobs. “Fifteen

years ago we were looking at shutting

the lights off for the North American

oil & gas industry,” said Continental

Resources’ President and COO Jeff

Hume. “Now we are recruiting at colleges

and seeing those colleges reinvest in

their petroleum engineering

and geology programs. This

is a huge opportunity for

American workers.”

On the oil side, at least,

most panelists think the

production upturn is still

young. “We are in the

very early stages of this

whole shale and tight rock

revolution in oil,” said John Richels,

CEO Devon Energy. “Look what we

have done in natural gas shale plays.

The smart technical folks are not only

figuring out how to locate fracks better;

they are learning to take advantage of

natural fracks and improving efficiencies.

A well took 33 days to drill ten years ago;

now we do it in seven days. We are now

applying that technology to oil plays and

constantly developing efficiencies and

gaining better technical knowledge which

will continue to help us figure out how to

get oil out of the ground.”

Unconventional activity is spreading

outward from North America, presenting

enticing long-term growth opportunities

for industry players who are positioned

to provide equipment and expertise

to promote international development

of unconventional resources. Hans

Helmerich, CEO of Helmerich & Payne,

sees exciting opportunities in many

countries. “The North American energy

revolution will have positive international

implications for service companies

that have leading positions here. We

anticipate being part of the demand pull

from operators and their JV partners

as they apply their new expertise into

international markets.”

Is “Shock and Awe” replacing “Boom and Bust”

as the best way to describe the oil and gas industry?

“ We are in the very early stages of this whole shale

and tight rock revolution in oil…”

– John Richels, CEO, Devon Energy

2 SIMMONS & COMPANY INTERNATIONALT WELFTH ANNUAL ENERGY CONFERENCE REPORT

The overwhelming majority of

Simmons conference participants

believe the answer to that question

is no. North American producers

and service companies are placing

their bets on continued strength

in the oil market. “You have the oil

market moving from strength to

strength, and gas absurdly priced,”

said Bernard Duroc-Danner, CEO

of Weatherford International.

“This year, the more oil you have,

the more flexible you are and the

better you do.” North American

oil and liquids producers’ sunny

outlook might be influenced by

the relentlessly positive E&P news

coming from their unconventional

fields. “The biggest surprise this

year has been how rapid the shift

of cash investments from gas to oil

has been,” said Tim Leach, CEO of

Concho Resources. “But looking

ahead, I think the surprise will

be the extent of the production

response.”

New production areas such as the

Bakken are continuing to surprise

on the upside in terms of output,

while mature areas such as the

Permian Basin are not looking so

mature anymore. “It is astonishing:

five or six years ago you could

have darn near given away the

Permian. Now that basin has years

of running room for oil and liquids

growth,” said Devon Energy’s

John Richels. “For years we drilled

through oil-bearing formations

in the Permian Basin because

they were too tight to produce

commercially, but with our current

tools and technology we are

turning that into a world class play.”

Meanwhile, panelists voiced

overwhelming pessimism about

the outlook for domestic dry gas

production. A “tsunami of gas

supply,” as Range Resource’s

John Pinkerton described it, has

collided with warm winter weather

to push prices ever downward.

However, producers agreed that

while prices may go a bit lower

from here, $2.50 is close to a

bottom. “A tremendous amount of

capital has already been displaced

from dry gas,” said Dan Dinges,

CEO of Cabot Oil & Gas. “Rigs

are being laid down, and a number

of companies will not be selling

their gas at the current price.”

Nevertheless, the steady rise in

North American gas demand may

take longer to positively impact gas

prices than most people (including

many in the forward markets)

expect. “Everyone is talking about

downstream gas generation

projects, but barring a housing

boom there are not a lot of physical

customers out there in the next

three years, so we are going to see

lots of gas around during that time

period,” said Jim Flores, CEO of

Plains Exploration & Production.

Is the North American production rush away from

dry gas to oil and liquids going to end in heartbreak?

Is “Shock and Awe” replacing “Boom and Bust”

as the best way to describe the oil and gas industry?

“ The biggest surprise this year

has been how rapid the shift

of cash investments from gas

to oil has been. But looking

ahead, I think the surprise will

be the extent of the production

response.”

– Tim Leach, CEO, Concho Resources

“ Fifteen years ago we were

looking at shutting the lights

off for the North American

oil & gas industry. Now we are

recruiting at colleges and seeing

those colleges reinvest in their

petroleum engineering and

geology programs. This is

a huge opportunity for

American workers.”

– Jeff Hume, President and COO, Continental Resources

SIMMONS & COMPANY INTERNATIONALT WELFTH ANNUAL ENERGY CONFERENCE REPORT 3

As energy producers and

midstream operators race to

keep up with the growth and

geographical changes in North

American production, transport

bottlenecks have developed

and price differentials between

domestic and international

products have widened. Longer-

term, most panelists feel that

in two or three years, pipeline

projects in the works along with

new rail and storage capacity will

alleviate bottlenecks and transport

issues. “The differential between

WTI and Brent will not last,”

said Jeff Hume of Continental

Resources. “The sad fact is that

a lot of oil comes from unstable

places, so we need domestic oil.

With the tremendous amount of

infrastructure projects planned or

in process, once these pipelines get

built our prices will be tied more to

the world price.”

A tight labor market, particularly

in North Dakota and Canada,

continues to be a problem for

many panel members. “Service

costs in the Bakken in North

Dakota are being driven by the

tight labor markets right now,” said

Hume. “Large service companies

can rotate people in and out of

locations, but other services that

require local labor face pressure in

a limited market.”

The service disruptions caused by

a rapid transition from dry gas to

oil and liquids production are also

putting pressure on margins for

many companies. The high price of

oil spells enticing revenue potential

for industry players, but it also will

keep service costs high. “$100 plus

oil is not a recipe for lots of cost

relief,” said Lee Boothby, CEO of

Newfield Exploration Company.

Plains Exploration’s Jim Flores

agreed. “Easing off gas drilling has

helped service costs, but as long as

oil stays above $100, service costs

will stay strong.”

The North American ramp-up in production has been astonishing, but bottlenecks

and service cost pressures persist in some areas. Is this a long- term concern?

“ Easing off gas drilling has helped

service costs, but as long as oil

stays above $100, service costs

will stay strong.

– Jim Flores, CEO, Plains Exploration

“$100 plus oil is not a recipe for

lots of cost relief…”

– Lee Boothby, CEO, Newfield

Exploration Company

4 SIMMONS & COMPANY INTERNATIONALT WELFTH ANNUAL ENERGY CONFERENCE REPORT

Activity has resumed in the

Gulf, with revenues approaching

pre-Macondo levels. However,

while panelists predict steady rig

count growth for this year and

beyond, the growth will take place

under much-changed conditions.

While revenues have rebounded,

operating margins remain under

pressure. Peter Ragauss, CFO

of Baker Hughes, Inc. expects

margins eventually to rebound.

“Much of the drilling right now is

exploratory wells and evaluations,

without a lot of completion work

taking place,” he said. “That is

higher margin business, so once we

begin development work, margins

will be higher in 2013.”

The “new” Gulf of Mexico may not

be for everyone. “Our biggest fear

is that with the permitting rules

now in place, the Gulf becomes the

playground of the super majors

only,” said Kevin Fitzgerald, CFO

of Murphy Oil. “We are evaluating

whether somebody our size

can survive and make economic

returns out there.” David Roberts,

Chief Operating Officer of

Marathon Oil, agreed. “It is a

different basin than the one we

grew up with, a $150 million throw

of the dice every time you move

out there,” he said.

Now that activity is picking up in the Gulf of Mexico,

what are the long-term growth prospects in that area?

“ It is a different basin than the one we grew up with, a $150

million throw of the dice every time you move out there…”

– David Roberts, Chief Operating Officer, Marathon Oil Corporation

SIMMONS & COMPANY INTERNATIONALT WELFTH ANNUAL ENERGY CONFERENCE REPORT 5

Offshore drillers have been playing

a waiting game to see activity

pick up and pricing improve in the

deepwater market. That seems

finally to be happening. “As an

industry, we lagged on subsea

developments over the last 12-18

months, with low levels of award

activity. However, we are now

seeing signs of that changing,” said

Cindy Taylor, CEO of Oil States

International. Other panelists

in all segments of the offshore

industry agreed. “We are very

excited about the subsea market,”

said John Gremp, CEO of FMC

Technologies. “This is a very long

cycle business, and once we got

through 2009 and oil companies

became more comfortable with

the oil price outlook, projects

began to be green lighted.”

A big issue is pricing. “We are still

puzzled by intransigence on the

pricing front,” said Gremp. “How

do you reconcile high barriers to

entry and high technologies with

continued pricing issues? I am

hopeful that, once large awards

are distributed to the subsea

community, pricing will go back to

the favorable rates of 2007-2008.”

Another issue is Brazil and the

long wait for Petrobras to seek

rigs from the open market while

it develops domestic capacity. “All

the drilling contractors are looking

at Brazil,” said Loren Singletary,

Vice President at National

Oilwell Varco. “Petrobras is going

to have to go to the open market to

get the rigs they need. They have

lease holding timing issues, just

like companies do in the Gulf of

Mexico.”

For offshore exploration, a number

of opportunities are exciting E&P

players around the world. Angola

was named by more than one

panelist as a country with exciting

subsea potential. Discoveries are

once again drawing excitement

and activity into the Bering and the

North Seas in Europe, and activity

is picking up in Indonesia and many

countries in Latin America as well.

Deepwater offshore drilling should be a great business, with strong long-term

growth prospects and significant barriers to entry. But will pricing ever improve?

“ This is a very long cycle business, and once we got through

2009 and oil companies became more comfortable with

the oil price outlook, projects began to be green lighted.”

– John Gremp, CEO, FMC Technologies

6 SIMMONS & COMPANY INTERNATIONALT WELFTH ANNUAL ENERGY CONFERENCE REPORT

While the long, deep overhang of

Atlantic Basin overcapacity has

yet to be fully resolved, North

American oil price differentials

and weak natural gas prices have

allowed those U.S. refiners with

access to U.S. crude supplies to

boost their margins substantially.

“We think the refining industry

in the U.S. will be quite strong

this year,” said Dan Romasko,

Executive Vice President at

Tesoro Corporation. “We are

sitting on top of stranded barrels

with increasing production, and

the low price of natural gas that

we use for fuel gives us a $1.00

or better per barrel advantage

versus international competitors.”

On the demand side, while

recently released numbers from

the Department of Energy show

a substantial 6-7% decline in

gas demand, panelists all agreed

that drop was far higher than

the decline they have actually

experienced. “I would agree that

fuel volume is down slightly in

the U.S., but the Dept. of Energy

statistics cannot be correct—we

are not seeing that sort of decline

in any of our businesses,” said Bill

Klesse, CEO of Valero Energy

Corporation.

While refining profitability will rise

and fall, a major long-term issue is

whether, once capacity issues are

resolved and price differentials

narrow, underlying fundamentals

for the industry in North America

can allow it to be internationally

competitive. Panelists agreed

that for the Gulf Coast refiners,

at least, the future looks bright.

“Gulf refineries are now extremely

competitive,” said the Mike

Jennings, CEO of HollyFrontier.

“As the economy improves, the

U.S. Gulf Coast will be a good

place to be.” As bottlenecks caused

by the country’s rapidly shifting

production locations ease with

new pipeline builds and reversals,

refiners see the growing, tariff-

free supply of crude oil, coupled

with ample, cheap supplies of

natural gas for fuel, as significant

long-term advantages for the Gulf

Coast. “The Gulf Coast is turning

into the most competitive place to

play in the international market,”

asserts Valero’s Bill Klesse. “As

the world grows, we see a huge

opportunity there, especially for

distillates exports.” Latin America,

with its growing economies and

refining reliability problems,

provides an especially good export

opportunity for U.S. Gulf refiners.

Overall, the great surprise for U.S.

refiners is that they may be looking

at a long-term cost advantage

compared to the rest of the world.

The growth in North American

unconventional oil supply is a

massive structural shift that will

displace U.S. crude oil imports

and benefit the U.S. economy in

countless ways. “None of us three

or four years ago would have

envisioned $2.50/mcf natural gas,

or oil production coming at us

from all over the U.S.,” said Klesse.

“U.S. oil is pushing out all the light

sweet crude imports from the

Gulf Coast; it is an amazing thing

that has happened. We look for a

revival in this business here in the

U.S.”

For U.S. refiners, are the elevated short-term margins sustainable, or will

profitability moderate substantially as new infrastructure is added?

“ U.S. oil is pushing out all the

light sweet crude imports from

the Gulf Coast; it is an amazing

thing that has happened. We

look for a revival in this business

here in the U.S.”

– Bill Klesse, CEO, Valero Energy

Corporation

SIMMONS & COMPANY INTERNATIONALT WELFTH ANNUAL ENERGY CONFERENCE REPORT 7

Whatever the price—and after

a very warm winter, coal prices

are weak—utilities are sitting on

piles of inventory. An extended

drawdown of that inventory

hangs over the coal industry’s

near-term future. “I predict that

the annual sales cycle will be a

longer, later process than usual,

meaning more uncertainty for a

longer period of time,” said Patriot

Coal’s President & CEO Richard

Whiting. While the consensus

among panelists was that prices of

thermal coal were at or very near

a bottom, the timing of an upturn

awaits the inventory drawdown.

“On the steam side of the business,

utilities’ stockpiles are so high they

wouldn’t take thermal coal if you

gave it to them right now,” said

CONSOL Energy’s Chair and CEO

Brett Harvey. “However, with a

really hot summer, we could see a

pretty quick drawdown. Because

of permitting restrictions and the

tax on mountaintop mining, the

supply response is not what it used

to be.”

A bright spot is the export market.

“Coal export numbers will grow

this year, not enough to balance the

overall weak U.S. market, but they

will grow,” said Jim Thompson,

President of Energy Publishing.

“The weak domestic market is a

good opportunity for companies

to take what is bad and try to

turn it into some good. Getting

coals tested at new locations

overseas can pay dividends in

the future.” The international

markets are not equally accessible

to all companies, with panelists

agreeing that Appalachian coal

with its favorable location for

transport and low sulfur content

has strong export potential

while Midwestern producers are

struggling with oversupply in their

markets. “We do not think there

is enough demand, domestic and

export together, for what is being

projected production-wise in the

Midwest,” said Richard Whiting,

CEO of Patriot Coal.

The warm winter is finally ending. Will utilities ever need

to restock their sky-high coal inventories?

“ I predict that the annual sales

cycle will be a longer, later

process than usual, meaning

more uncertainty for a longer

period of time.”

– Richard Whiting, President & CEO,

Patriot Coal

8 SIMMONS & COMPANY INTERNATIONALT WELFTH ANNUAL ENERGY CONFERENCE REPORT

Navigating the ebb and flow of price changes

toward a promising future

Cyclical fluctuations of commodities prices continue to challenge energy industry participants. However, at this year’s conference they did not overshadow panelists’ optimism about the long-term outlook for the industry. The revolution in unconventional resource development has delivered new areas for exploration & development, new life to areas once thought to be finished, and a new start for North American industries such as petrochemicals. Advantages spread beyond U.S. shores as unconventional resource development spurs export growth and exciting opportunities for countries and companies worldwide, offshore and onshore. Even as industry participants struggle to adapt to changing supply locations and to build infrastructure to accommodate the growth, these are problems of increased opportunity, not of downsizing to face diminished prospects. The impact of this change is being felt in all segments of the industry, from refiners to pipelines to offshore drillers and capital equipment companies, and panelists painted a picture of an industry grappling with the fundamental changes of the industry while stepping up to the challenges of realizing long-term growth opportunities.

SIMMONS & COMPANY INTERNATIONALT WELFTH ANNUAL ENERGY CONFERENCE REPORT 9

Simmons & Company

Executives

Senior Executives

Michael E. Frazier Chairman, President & Chief Executive Officer mfrazier@simmonsco-intl.com

Anthony P. Banham Advisory Director abanham@simmonsco-intl.com

Nicholas L. Swyka Advisory Director nswyka@simmonsco-intl.com

Corporate Finance

HOUSTON

Andrew C. Schroeder Managing Director, Energy Services & Equipment aschroeder@simmonsco-intl.com

Frederick W. Charlton Managing Director, Energy Services & Equipment fcharlton@simmonsco-intl.com

Ira H. Green, Jr. Managing Director, Capital Markets, E&P and Alt. Energy igreen@simmonsco-intl.com

James P. Baker Managing Director, Midstream & Downstream jbaker@simmonsco-intl.com

Jay B. Boudreaux Managing Director, Exploration & Production jboudreaux@simmonsco-intl.com

Matthew G. Pilon Managing Director, Energy Services & Equipment mpilon@simmonsco-intl.com

Paul R. Steier Managing Director, Energy Services & Equipment psteier@simmonsco-intl.com

Spencer W. Rippstein Managing Director, Midstream & Downstream srippstein@simmonsco-intl.com

Damon Box Director, Exploration & Production dbox@simmonsco-intl.com

David Newman Director of Engineering Exploration & Production dnewman@simmonsco-intl.com

J. Kris Terrill Director, Energy Services & Equipment kterrill@simmonsco-intl.com

Michael S. Sulton Director, Midstream & Downstream msulton@simmonsco-intl.com

Todd A. Parsapour Director, Energy Services & Equipment tparsapour@simmonsco-intl.com

ABERDEEN, SIMMONS & COMPANY INTERNATIONAL LIMITED

Colin I. Welsh Chief Executive Officer (SCIL) cwelsh@simmonsco-intl.co.uk

Mike Beveridge Managing Director (SCIL) mbeveridge@simmonsco-intl.co.uk

Nick Dalgarno Managing Director (SCIL) ndalgarno@simmonsco-intl.co.uk

Eddie Leigh Managing Director (SCIL) eleigh@simmonsco-intl.co.uk

Craig Lyon Managing Director (SCIL) clyon@simmonsco-intl.co.uk

Securities

HOUSTON

A. Denney Cancelmo Managing Director, Head of Trading dcancelmo@simmonsco-intl.com

Jeffery A. Dietert Managing Director, Co-head of Research jdietert@simmonsco-intl.com

William F. Britt Managing Director, Co-head of Institutional Sales wbritt@simmonsco-intl.com

William A. Herbert Managing Director, Co-head of Research bherbert@simmonsco-intl.com

David W. Kistler Managing Director, Research dkistler@simmonsco-intl.com

Pearce W. Hammond Managing Director, Research phammond@simmonsco-intl.com

David P. Orr Director, Institutional Sales dorr@simmonsco-intl.com

John M. Daniel Director, Co-head of Oil Service Research jdaniel@simmonsco-intl.com

Sean W. Mitchell Director, Co-head of Institutional Sales smitchell@simmonsco-intl.com

LONDON, SIMMONS & COMPANY INTERNATIONAL CAPITAL MARKE TS LIMITED

Robert C. Muse Director, Head of European Institutional Sales (SCICML) rmuse@simmonsco-intl.com

Ian Macpherson Director, Co-head of Oil Service Research (SCICML) imacpherson@simmonsco-intl.com

10 SIMMONS & COMPANY INTERNATIONALT WELFTH ANNUAL ENERGY CONFERENCE REPORT

Twelfth Annual Simmons & Company Conference Agenda

February 29 – March 2, 2012

Thursday

MORNING SESSIONS

E&P Perspectives: Large Cap

Moderators:

Pearce Hammond & Dave Kistler

Noble Energy

Occidental Petroleum

Pioneer Natural Resources

Southwestern Energy

Capital Equipment

Moderators:

Bill Herbert & Ian Macpherson

FMC Technologies

National Oilwell Varco

E&P Perspectives: Permian/Bakken/

Marcellus/Barnett/Emerging Areas

Moderators:

Pearce Hammond & Dave Kistler

Cabot Oil & Gas Corporation

Concho Resources

Continental Resources

Devon

Range Resources

Refining

Moderators:

Julie Coutu & Jeff Dietert

HollyFrontier

Marathon Petroleum Company

Tesoro Corporation

Valero Energy Corporation

AFTERNOON SESSIONS

Lunch & Large Cap Service

Moderators:

John Daniel & Bill Herbert

Baker Hughes Incorporated

Halliburton Company

Weatherford International

Land Drilling &

Well Intervention Services

Moderators:

John Daniel & Josh Jayne

Basic Energy Services

Helmerich & Payne

Key Energy Services

Precision Drilling Corporation

Small Cap Service

Moderators:

John Daniel & Josh Jayne

CARBO Ceramics

Core Laboratories

Oil States International

Superior Energy Services

Friday

MORNING SESSIONS

Mid Cap Majors: NAM

Unconventional/Global Exploration

Moderators:

Guy Baber & Jeff Dietert

Marathon Oil

Murphy Oil

Statoil ASA

Offshore Drillers

Moderator: Ian Macpherson

Atwood Oceanics

Diamond Offshore Drilling

Pacific Drilling

Rowan

Coal Market Perspectives

Moderator:

Brian Gamble

CONSOL Energy

Energy Publishing

Patriot Coal

E&P Perspectives: Eagle Ford/Bakken/

DWGOM/Rockies/California

Moderators:

Pearce Hammond & Dave Kistler

Bill Barrett

Newfield Exploration Company

Oasis Petroleum

Plains Exploration & Production

SIMMONS & COMPANY INTERNATIONALT WELFTH ANNUAL ENERGY CONFERENCE REPORT 11

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