A Financial Planner's Guide To Energy Investing

A Financial Planner's Guide To Energy Investing
B. J. Willingham
12/06/13 4 PM EST
IWI
Program Id: 738991376
4.2
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The purpose of this webinar is to give advisors a framework for evaluating investment proposals in the oil and gas sector. 


At this session, you will learn about:

  • Geological risk
  • Operational risk in drilling
  • Evaluating the efficiency of drilling operations
  • Assessing a program’s balance sheet
  • Implications of using leverage
  • Hedging against energy price changes
  • How energy deals are priced
  • Metrics for comparing programs


BJ Willingham is a founder of Moncrief Willingham Energy Advisers, L.P. and has over 35 years of investment management experience, primarily focused on energy and natural resources.  He is responsible for the research that contributes to the Company’s macro view.  Prior to forming Moncrief, Willingham founded Willingham Asset Management Inc., a long-only traditional money manager that he sold in 2007 to focus on energy investing. Willingham previously served as CIO to Transamerica Corp’s TA Funds Family and as chairman of the investment committee at Criterion Investment Management Company, which grew from $400 million AUM to $11 billion in assets. A member of the Houston Society of Financial Analysts, he holds a CFA, a B.A. in Economics from Yale and an M.B.A. from the Wharton School of Business.

 
This webinar is eligible for IMCA® CE credit.   


More than 50 hours of CFP® CE credit and more than 100 hours of Investments & Wealth Institute® credit on replays available 24/7 to paying members ($120 annually) of
Advisors4Advisors.com. CPAs are eligible to receive CPE for attending live webinars only. To learn how to receive continuing professional education credit viewing webinar replays, please see our detailed instructions.

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4.0

Very informative overview...thanks A4A

Hate that I had to miss the live version. Just watched the replay. Thought it was a really good overview of O&G investing basics for planners. Fracking was "invented" by George Mitchell of Mitchell Energy (now Devon)in the Barnett Shale in my "back yard", in Wise County, Texas,... so local client interest doesn't allow me the luxury of total ignorance on this topic. The supercycle description was very contextually informative, as was juxtaposition of O&G market size vs. nuke, W&S, and coal. I also found the straightforward thumb rule of avoiding over 50% levered drilling deals very interesting. Would love to hear BJs thought on per bbl and per mcf/btu price outlooks when the up-phase of this supercycle eventually caves to a catch-up in supply, and also, roughly when he might anticipate that occuring. Also, when/if he might anticipate broad national infrastructure build-out of natural gas refueling capacity for vehicles (not just heavy trucks). Very good presenter and presentation.

On the windmills issue, one of the biggest costs of that boondoggle is an externalities cost not currently passed on to electricity rate payers or taxpayers, but involuntarily eaten (subsidized) by landowners who suffer huge uncompensated diminishment of land values for hundreds of yards/miles either side of the hundreds of miles long and 125 foot high unsightly electric power transmission lines/towers connecting wind farms in typically remote wind corridor locations with urban electric power users. This eminent domain forced and yet wholly uncompensated value dimunition effects millions more acres of rural, suburban and urban land every year. Our society usually only allows for total non-recognition of such externalities costs for so long. Point is, the cash/tax subsidies for wind energy that BJ referenced are only a fraction of the true subsidy for this sentimental trip to the land of wooden shoes. Bird-shredding by the mills dwarfs in comparision to bird (and other wildlife) habitat lost to dozers clearing millions of acres of timber for the continually expanding network of transmission lines for this only intermittently available at best power generation source.

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5.0

One of the best I have attended due to presenter's obvious depth of knowledge in the sector.

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4.0

The subject matter is a bit dry and if an advisor is not working in the realm of energy investing, then the information might be of limited use or applicability. However, for an advisor in this area, the topic is very timely and of great importance. Again, depending on your clientele and your business model this webinar could be of value. Thank you.

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