Upstream Panel Led by David H. Keyte, Jerry Schretter, Tom Tyree, Vidisha Prasad, and Xuan Yong.
What opportunities exist for mergers and acquisitions in the Upstream space? What assets are economic at $40 a barrel oil? When do non-core areas of US shale gas come back to play? What’s the outlook for International shale, deepwater, oil sands? What are the ramifications for spending deferral in E&P?
David Keyte co-founded Caerus Oil and Gas in December 2009. He has been principal in acquisitions totaling $390 million with Caerus. Caerus is presently focused on the Piceance Basin, has approximately 70 employees, proved reserves of approximately 1 TCFE of natural gas and daily production of approximately 100 million cubic feet. Prior to Caerus, he spent 22 years with Forest Oil Corporation, the last 14 serving as Chief Financial Officer. During his tenure, Mr. Keyte was principal in 25 significant merger and acquisition transactions totaling $7.7 billion, two of which were awarded Oil and Gas Investor’s Financial Deal of the Year for their creative structure and value creation. Additionally, Mr. Keyte was principal in 47 capital market transactions totaling $8.5 billion. Mr. Keyte also serves as a Director of Regal Entertainment Group, the largest movie exhibition company in America. Mr. Keyte holds a BS in Economics from The Wharton School, University of Pennsylvania.
James Obulaney is a Vice President, responsible for origination, analysis, structuring and execution of investments for the Oil & Gas Deal Team. He joined Denham Capital in 2014.
Prior to joining Denham, James was an Associate in the Energy Private Equity Group at Avista Capital Partners and an Analyst in the Global Energy Group at Morgan Stanley. He currently serves on the Board of Directors of Atlantic Resources.
James earned a Bachelor of Science in Engineering from Texas A&M University.
Jerry Schretter is the Managing Director and Co-Head of Upstream. Jerry Schretter joined Citi in 2010 as a Managing Director and Co-Head of Upstream for the Global Energy Group headquartered in Houston, Texas. Prior to joining Citi, Mr. Schretter was a Managing Director and Head of Upstream for UBS from 2005–2010. Mr. Schretter joined UBS in 2005 from Deutsche Bank, where he helped originate their US energy business. Prior to Deutsche Bank, Mr. Schretter worked in the energy groups at Morgan Stanley, Salomon Brothers and Chase Manhattan Bank.
In 1998, Mr. Schretter worked on the $4.4 billion IPO of Conoco, which was the largest IPO in US history, at the time. In 1999, Mr. Schretter worked on the split-off of Conoco from Dupont. In 2006, he advised Anadarko on the $22 billion acquisition of Kerr McGee and Western Gas, which was the eighth largest energy deal at the time. Mr. Schretter led the arrangement of a $24 billion bridge for the Anadarko transaction, one of the largest ever, and also led Anadarko’s $5.5 billion bond transaction, which was the largest oil and gas bond at the time. In 2009, he led a $1.4 billion equity block trade for Anadarko, the largest equity block ever done in energy.
Thomas B. Tyree, Jr. is co-founder, President, and Chief Financial Officer of Vantage. He was appointed as a member of our board of directors in May 2014. Mr. Tyree served as President, Chief Financial Officer, and member of the boards of managers of Vantage I and Vantage II since their founding dates in 2006 and 2012, respectively. In September 2016, Rice Energy announced its intention to acquire Vantage for $2.7 billion. The transaction closed in October 2016.
Prior to co-founding Vantage I, he was Chief Financial Officer of Bill Barrett Corporation from 2003-2006 with responsibility for finance, treasury, accounting, internal audit and other functions for this NYSE-listed oil and gas exploration and production company. While at Bill Barrett Corporation, Mr. Tyree served as primary liaison with the company’s three private equity sponsors and led several acquisitions and financings, including the initial public offering of its shares.
Prior to joining Bill Barrett Corporation, Mr. Tyree served as a Managing Director in the Investment Banking Division at Goldman, Sachs & Co. from 1989 – 2003, where he was involved in merger and acquisition, financing, and private equity transactions and at different times held leadership positions in the firm’s U.S. upstream, Canadian energy, and technology business-to-business efforts. Mr. Tyree began his career in finance with Bankers Trust Company in 1983 as an Associate in Corporate Finance. Mr. Tyree holds an MBA from the Wharton School at the University of Pennsylvania in Finance (honors) and Entrepreneurial Management and a B.A. from Colgate University in Economics (honors) and Philosophy.
Vidisha Prasad is a Managing Director in Guggenheim Securities’ Energy Investment Banking Group, based in Houston. Ms. Prasad focuses on strategic advisory assignments, asset acquisitions and divestitures, capital markets and restructuring solutions for companies in the upstream oil and gas sector. She has been involved in the execution and origination of more than $50 billion of domestic and cross-border M&A and A&D advisory, leveraged buyout and capital raising transactions over the course of her career, and has worked on projects involving upstream and LNG assets across the US lower-48, deepwater Gulf of Mexico, Africa (onshore and deepwater), Eastern Mediterranean, Russia, UK North Sea and South-East Asia.
Prior to Guggenheim, Ms. Prasad spent nearly 13 years in Citi’s Global Energy Investment Banking practice in Houston, London and New York. She graduated with a Bachelor of Arts in Economics from the University of Rochester.
Xuan Yong is CEO and co-founder of RigUp. RigUp in an online marketplace facilitating transactions between a network of E&P companies and over 12,000+ oilfield service providers transacting over $300mn/month in awarded work. Prior to co-founding RigUp, Xuan worked as an energy investor at various hedge funds including Citadel and D.E. Shaw. Xuan began his career as an investment banking analyst at Goldman Sachs and is a graduate of Texas A&M University.