Many of the deals that make the production of oil and gas possible are consummated in the heart of Houston, Texas at the North American Prospect Expo (NAPE). This year’s NAPE event drew 17,000 attendees and exhibitors from 47 countries to Houston on February 6th thru 8th. NAPE offers an exhibit hall dedicated to one thing – getting deals done through high-level networking and bringing together prospectors, investors and exploration companies. According to Steve Wentworth, EOG Resources, “NAPE is the king networking place in the whole industry, and it has been for a long time.”
Nine members of the CX-Energy and M&P team not only attended NAPE but also showcased our landowner groups at three separate booths on the floor in order to best represent our available prospects. We made contact with well over 100 companies who expressed interest in purchasing prospects in the Appalachian Basin. Some of these companies are already players in the Marcellus and Utica Shale plays. More importantly though, many of them are not yet active currently but are hoping to secure a foothold in the basin. They are looking for prospects they can actually invest in and were attending the event to purchase the acreage that makes sense for their needs. As these companies have their geology teams evaluate our prospects we are taking the time to follow up with our contacts. We believe that NAPE was not only a success for our company and our landowners, but that the personal connections we made will result in successful deals in the future.
As negotiations begin we hope to have more information for you over the next few weeks.
In order to continue building these relationships and showcasing our available acreage we have already reserved booths for the first ever NAPE East expo which will be taking place April 10-12 at the David L. Lawrence Convention Center in Pittsburgh PA. NAPE East offers a great opportunity for us to showcase our prospects in the hottest play East of the Mississippi! Companies from all over the world will be attending to learn more about the exciting opportunities in the Appalachian Basin – and we plan on making a lasting impression.