A lot of hands go into turning a piece of land or a patch of seabed into a producing oil and gas property. Landowners have to work out deals with energy companies. Bankers finance the deals. Lawyers draw up the contracts. At NAPE, all of them are meeting under one roof. It’s as upstream as upstream gets.
“At an event like this, there’ll be billions of dollars of deals going down this week.”
Marty Schardt is executive vice president of NAPE. He says the main value of the event is in networking.
“Oil and gas is a very expensive business, and for most companies, taking that on 100% is very difficult, and so they look for investors to come in to offset some of their risk.”
Much of the interest at this year’s expo is in international opportunities. Pemex, Mexico’s state-run oil company, is a first time attendee. Other foreign prospects range from Croatia to Australia. But there are also plenty of domestic options.
“Somebody may be leasing land right next to you and want to develop something, but they don’t have enough land to put together a good drilling block, and you may not have enough. So you become partners. You were competitors at once, and now you’re partners in order to develop the land properly.”
Schardt says by the time NAPE wraps up on Friday afternoon, roughly 17,000 visitors are expected to come through the doors of the George R. Brown.