Energy Finance

Objective

This training program is designed to provide participants with an in-depth understanding of energy finance by addressing three areas of finance in an energy context: pricing, asset valuation, and risk management.

The program will begin by placing energy markets in the context of global financial markets, and analyzing markets’ reactions to the unfolding 2007 – 2009 international crisis. In so doing, we will develop participants’ understanding of the energy markets, as well as how to model and forecast energy and forward/futures prices. The course will then focus on giving delegates an understanding of energy-related derivatives. Delegates will be taught the different derivative products and learn how to apply them in the energy markets to develop hedging and risk management strategies.

The course will then consider valuation and the application of option theory to energy related assets. By the end of the course delegates will leave with an understanding of the energy markets and how to measure and manage the financial risks created by volatile energy prices. In addition, delegates will gain the skills to accurately value energy assets and use derivatives to mitigate energy price risk.

This course will be invaluable for those involved in financial and quantitative analysis, valuation and structuring, and trading positions within major energy companies as well as people working within leading investment banks, consulting, and financial services firms.

Benefits

• Understand international financial markets’ reactions to the unfolding 2007 – 2009 crisis; Measure the nervousness/uncertainty of equity, credit and commodity markets
• Use financial models to analyze and forecast energy prices; extrapolate forward prices beyond the liquidity tenor
• Understand the risk of and return from futures and options contracts on energy commodities
• Manage and optimize corporations’ energy risk exposure
• Estimate and calculate volatility in energy prices
• Apply option valuation techniques to the energy markets
• Understand and use derivative products to mitigate energy price risk; use structured products to enhance firm value; understand exotic structures unique to oil (e.g., average option) and gas and power (e.g., swing options, weather derivatives)
• Utilize real options theory to value energy assets; use information from futures/option prices to make optimal production decisions: Optimal timing for extraction, optimal rate at which to extract oil (gas) from a field; value oil fields, pipelines and storage facilities, power plants
• Apply Value-at-Risk to the energy industry

Title:	Energy Finance
WHEN:	▪   October 13, 2012 Early registration is encouraged. Class size is limited.
WHERE:	The Houstonian Hotel, 111 North Post Oak Lane Houston, Texas 77024
DURATION:	1-day program: 8:30 am - 4:30 pm
FACULTY:	Ehud Ronn, Ph.D., Professor of Finance
COST:	$1395 - Single Program $7350 - Energy Certificate The program fee includes materials, lunch and breaks. Registration is not complete until payment is received.

Registration Deadlines

Early registration is encouraged. Class size is limited and may fill to capacity. We request registrations with payment at least 3 weeks in advance of the program start date.

To enroll online, please follow the link and from the Registration: Program Selection screen, choose pull-down option "Energy" to get started. If you prefer, you may also enroll via e-mail, fax or telephone.

Continuing Education Units

Participants earn 0.7 continuing education units (CEUs). A certificate of completion will be presented from Texas Executive Education.