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Energy Legislation and Operational Impacts
The impacts of energy legislation on energy companies and their operations could include changes to energy trading rules and best practices for reducing FCPA risk. Additionally, this session will discuss the status of carbon legislation, environmental tax credits and energy regulatory reform.
Scott Segal, Partner, Head of Government Affairs, Bracewell & Giuliani LLP
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Tax Legislation Outlook: Implications of the Obama Budget
The president’s fiscal year (FY) 2011 budget proposes $443 billion of tax increases on businesses over 2010-20, with a number of proposals aimed at increasing taxes on the oil and gas industry. These changes are estimated to have a $37 billion impact. Among the oil and gas preferences that would be eliminated are use of the Section 199 domestic manufacturing deduction, percentage depletion, and the expensing of intangible drilling costs. Where does this legislation stand?
Ray Jones, Tax Consultant, Ernst & Young
Energy Accounting Focus
Hear the latest updates on SEC comments on reserve reporting, the status of the FASB/IASB joint projects, and the IASB extractive activities project.
Desiree Latimer, Senior Manager, Ernst & Young
M&A Transactions and Capital Update
Shifting market forces, including restricted financing, a more complex risk profile, increased regulation and market volatility, are all rapidly changing today's energy business environment affecting the ability to optimize capital availability and deployment. With these forces in play, boardroom agendas are focusing on capital management issues, such as optimizing, raising, investing and preserving capital. As optimism returns, companies and executives are realizing that a new capital agenda is emerging. How is this new capital influencing M&A transactions? What is the outlook for M&A in the second half of 2010?
Jon McCarter, Principal, Ernst & Young
Back Office Issues
Companies in the oil and gas industry must invest heavily in exploration and production, yet they face growing challenges. They need help identifying the best strategies for pursuing existing projects and the most promising future projects for investment. Integrating a back-office system is essential in today’s competitive environment.
Bill Arend, Regional Manager, Oracle
Health Care Reform: Economic Implications for Employer-Sponsored Health Programs
The recently enacted health care reform legislation creates financial and administrative implications for employers as sponsors of health care plans. Issues to be covered include: minimum benefit requirements, employer mandates and the associated penalties, individual mandates and potential migration of employees in and out of employer plan, and annual fees and taxes passed back to employers.
Edward Pudlowski, Principal, Ernst & Young
Fraud Awareness and Internal Controls
Understanding vulnerabilities and opportunities for misconduct is essential to management in mitigating fraud risk within their organization. Ms. Jourde will share considerations for management to use in evaluating their organization’s susceptibility to fraud and the effectiveness of their internal controls.
Paula Jourde, Director of Client Relations, Enertia Software
Risk Management, Hedging and Corporate Insurance Issues
To Hedge or not to hedge? Understand where your company falls on the spectrum from risk averse to risk taking through knowledge of price risks and dynamic risk management to choose products and strategies. Identify market volatility, current trends and regulatory reforms that effect companies.
Frank Verducci, Director - Structured Products, BP Corporation North America, Inc
