Tours / Special Events

Offshore Energy Center's Ocean Star Offshore Drilling Rig Museum and Education Center

Date:  Sunday, November 12, 2017 - 1:00pm to 5:00pm

Cost:  $50.00/per person

"Visitors step on board, tour the completely refurbished jackup drilling rig, absorb the day-to-day excitement of offshore drilling and production, marine transportation, environmental protection, construction, pipelining - all experienced through three decks of videos, equipment exhibits and interactive displays. It's a museum, educational attraction and working drilling rig all rolled into one."

The Ocean Star Offshore Drilling Rig Museum and Education Center is a retired jackup drilling rig that offers a fun, hands-on way to learn about the offshore oil and gas industry. Visitors can view specialized oilfield equipment in a comfortable atmosphere and award winning museum unlike any other. The museum celebrates its 20th birthday in April 2017. It is located on Galveston Island, Texas, less than an hour from downtown Houston, the world's petroleum capital.

Visitors board the retired jackup drilling rig and view a video about the offshore industry. The museum features three floors of models and interactive displays illustrating the story of offshore oil and gas from seismic technology to exploration and production. Scale models of production platforms, actual drill bits and remotely-operated vehicles (ROVs) as well as videos and exhibits explain drilling, geology, seismic, well servicing and production.

Following a leisurely tour inside the museum, visitors can take the skywalk out onto the drill floor of the rig, or visit the exhibits on the pipe deck from the first floor of the museum.

Petra Nova Tour

Date:  Wednesday, November 15 - 1:00pm to 5:30pm

Cost:  $100.00 person - conference registrants, $150.00 US - non-registrants

Attendance is limited to the first 25 registrants - SOLD OUT

Only 6 seats remaining

Attendees of the USAEE North America Conference 2017 in Houston will have the unique opportunity to visit and tour the Petra Nova generation and carbon capture facility, located southwest of Houston.

  1. Participants MUST pre-register and must bring government issued photo ID with them for security checkpoint. If non-US citizen, valid passport must be presented.
  2. Participants will be required to wear closed toe shoes and pants, or they will not be able to participate in the tour.
  3. Please contact the USAEE team if you require accommodations for disability as the tour involves long distances walking.

The Petra Nova facility, a joint venture between NRG and JX Nippon Oil & Gas Exploration, captures more than 90 percent of the carbon dioxide (CO2) from a 240 MW slipstream of flue gas for the use and ultimate sequestration of 1.6 million tons of this greenhouse gas annually. Petra Nova came online in 2016.

At 240 MW, Petra Nova is the world's largest post-combustion carbon capture facility installed on an existing coal-fueled power plant. The technology has the potential to enhance the long-term viability and sustainability of coal-fueled power plants across the U.S. and around the world. The project was selected by the United States Department of Energy (DOE) to receive up to $190 million as part of the Clean Coal Power Initiative Program (CCPI), a cost-shared collaboration between the federal government and private industry.

The Petra Nova Project utilizes a proven carbon capture process, which was jointly developed by Mitsubishi Heavy Industries, Ltd. (MHI) and the Kansai Electric Power Co., that uses a high-performance solvent for CO2 absorption and desorption.

The captured CO2 is to be used in enhanced oil recovery (EOR) operations.

USAEE Workshop
Global Energy Risk Management: Identifying and Turning Risk into a Competitive Opportunity

Date:  Wednesday, November 15 - 12:45pm to 5:00pm

Cost:  $100.00 person - conference registrants, $150.00 US - non-registrants. Includes coffee break & refreshments

Approx. # of participants: 40 - 50

Location: Discovery Center A

Attending the Global Energy Risk Management Workshop qualifies for 4 GARP CPD credit hours.


Energy risk management focuses on the complexities associated with energy commodities extraction, storage, processing, treatment and transportation of energy commodities and develops corresponding sound risk management strategies. This session will utilize both lectures and case studies to help you gain an understanding of:

  • The basics of energy risk management.
  • Fostering a mindset of real option valuation to address risk and value added strategies.
  • Hedging strategies to add extrinsic value to a company's asset structure.

Composition of Audience

Energy economists and engineers in industry, government and academia, students completing PhD degrees in energy economics or engineering, banking professionals and other financial institutions trading energy derivatives, engineering & energy consulting firms, government regulatory or advisory agencies, or law firms.


Lunch 12:45 to 1:15

Welcome and Introductions 1:15 to 1:30

Glenn Labhart, Chairman of Energy Oversight Committee of the GARP ERP Program & Senior Partner Labhart Risk Advisors.

EXAMPLE Risk Appetite Template
Expected shortfall a natural coherent alternative to Value at Risk
FSA Principle for a Risk Appetite Framework
Labhart Risk Advirsors Transaction Checklist
Labhart Risk Advisors Deal Structuring
Labhart Fundamentals Presentation
OCC Risk Appetite Statement
Pricing Commodities Labhart Risk Advisors
VAR Example

Energy Risk Fundamentals 1 :30 to 2:00

A review of the risk fundamentals to ensure adequate understanding and the importance of managing risk to develop effective and profitable strategies.

  1. Energy Risk Governance (Risk Organization, Risk Appetite, Risk Tolerance)

  2. Risk Definition

  3. Defining risk transfer and strategies

Energy Real Option Value Enhancement 2:00 to 3:00

Spyros Maragos Ph.D., Manager, Structuring Group, DIRECT ENERGY

Spyros Maragos has more than twenty years' worth of experience as an energy executive. He has held quantitative, structuring, risk management and fundamental analysis positions. He worked in energy marketing, consulting, for an oil major as well as for energy hedge funds. Spyros has a Ph.D. from M.I.T. where he studied Management, Operations Research and Finance.

Conference Presentation
  • Options overview
  • Proper structure of the underlying asset for options
  • Purposes of Real Option Valuation
  • Uses of Real Options

BREAK 3:00 to 3:15

Credit Risk in Energy 3:15 to 4:00

Gordon Goodman served in senior positions for E.I. DuPont, Conoco, Occidental, and NRG, and he also served on both the Houston Area Urban League Board of Directors and the University of Houston College of Arts & Sciences Advisory Board. He has worked on committees of the Financial Accounting Standards Board and the American Petroleum Institute. He lives in Houston, TX, and is currently a candidate for Justice on the 1st Court of Appeals in Texas.

Conforming CVA-DVA Calculations with Guarantee Valuations
Credit Risk--Will the Bubble Burst
How to Value Guarantees

  • Fundamentals of Credit and Analysis
  • Energy Finance and Regulatory Considerations
  • Case Examples

Energy Risk Management Hedging 4:00 to 5:00

Kevin Hulsey helped to create Shell Trading Risk Management, LLC (STRM), which was incorporated in November 2013 and registered as a Swap Dealer under Dodd-Frank in January 2014. Kevin holds a Bachelorís degree in Chemical Engineering from The University of Tulsa and a MBA from Tulane University with a focus in Finance and Management.

  • What value hedging brings to the business?
  • Hedging strategies.
  • Fixed Price Products
  • Options