25 companies present on day one
For the first day of the 2018 EnerCom conference, the venue was just about full, with an estimated 1,800+ attendees in the conference presentation rooms, breakout rooms conference lobby and luncheon venues, as the 23rd edition of the popular energy-only investor conference kicked off at Denver’s Downtown Westin hotel.
Investors fill the presentation rooms for EnerCom’s 2018 The Oil & Gas Conference in Denver. Photo: Oil & Gas 360
Permian pure-plays Jagged Peak Energy (ticker: JAG), Centennial Resource Development (ticker: CDEV) and Rosehill Resources (ticker: ROSE) along with Marcellus giants Cabot Oil & Gas (ticker: COG) and Range Resources (ticker: RRC) played to full rooms. Rosehill Resources was standing room only, with investors lining the walls and spilling into the hallway. Liberty Oilfield Services (ticker: LBRT), which went public in January of this year, was also a full room.
A new day: downturn seems way back there in the rearview mirror somewhere
Thanks to the return of oil prices above breakeven levels, and prices being reliably sticky in the $60s thus far in 2018, oil and gas companies have for the most part reported steadily improved performance. Especially compared to the 2016 trough, when basic survival, severe cost cutting and a ‘boost-efficiency-or-die’ mentality permeated the rarefied air at the Westin.
The overall feeling and atmosphere inside the 2018 EnerCom conference is definitely positive, with companies discussing impressive well results, a return to positive financials and confidently looking at strong production growth for 2018-2019.
Quote of the day
Sandeep Bhakhri, Senior Vice President and Chief Information and Technology Officer for
EOG Resources set the bar for 2018 top-tier E&P performance: “In the first half of the year, our roughly $3 billion in investments are earning about 140% direct after-tax rate of return.”
Public oil and gas industry CEOs presented throughout the afternoon, with a midstream panel and a private company panel taking the program up to the first-day networking event on the Westin roof deck.
