To the ~300 of you that are registered for the Oilfield Water Markets Conference in Frisco next week, we can’t wait to see you there! You should have received an email with event details and the attendee list yesterday (if you did not get that, just reply to this email and we’ll resend it).
If you aren’t signed up for the conference yet… this is last call! We only have a few seats left…
Approximately 300 attendees, 60 speakers and 45 sponsors are confirmed. Platinum, Gold & Silver Sponsorships have all sold out and there are only a couple opportunities remaining to reach the leaders attending this conference (reply to this email if you have interest in a last minute sponsorship).
We’ve written about the event a lot in this newsletter (we are very excited about how it’s shaping up), so we’ll keep it short here and leave you with one last nudge to check out the tremendous agenda on the event website and register if you can make it out. We (and the rest of the industry) would love to see you there!
Online Registration Is Still Open Here
Now here is this week’s water news…
News Digest
3.2 magnitude earthquake recorded north of Midland
An earthquake was recorded to the north of Midland on Friday morning. According to the United States Geological Survey, a 3.2 magnitude earthquake was recorded nearly nine miles north of the city at 5:15 a.m.
XRI Commissions Permanent Water Recycling Facility in Delaware Basin
XRI shared today they have recently expanded a long-term water agreement with a leading E&P cpmpany in the Delaware Basin.
Select Energy Services Provides Update On New Recycling Facilities In Earnings Release
Select's earnings release says they commenced operations at two water recycling facilities in the Permian in 1Q21 under long term contract with E&Ps and says they are off to "very promising starts." The press release goes on to state that they further commercialized these facilities, with two more customers either currently sending or contracted to send volumes during the second quarter and additional pull through of various service lines related to these facilities.
Drought Prompting Innovations to Hydraulic Fracturing; Production Outlook Good for North Dakota
North Dakota’s drought is not only devastating for agriculture, it is also complicating things for the state’s oil and gas industry.
TETRA Technologies and CarbonFree to Jointly Advance Innovative Carbon Capture Utilization and Storage Technology
TETRA Technologies announced that the Company has signed a memorandum of understanding with CarbonFree, a global carbon capture company with patented technologies that capture CO2 and mineralize emissions to make commercial, carbon-negative chemicals.
WATER EARNINGS SEASON: Tetra Technologies
"In March we saw a strong rebound of activity with double digit adjusted EBITDA margins in our Water & Flowback Services segment and over 25% adjusted EBITDA margins for our Completion Fluids & Products segment."
WATER EARNINGS SEASON: Intrepid Potash
"In the first quarter, we've invested in additional recycling equipment, infrastructure and resources as we expand on the full cycle water management products and services demanded by customers in the Delaware Basin"
WATER EARNINGS SEASON: Rattler Midstream
"Q1 2021 average sourced water volumes of 268 MBbl/d; 22% of total sourced water volumes in Q1 2021 sourced from recycled produced water."
WATER EARNINGS SEASON: Equitrans Midstream
Operating revenue for the first quarter was lower compared to the same quarter last year by $73.1 million, primarily from the impact of deferred revenue and lower water services revenue.
WATER EARNINGS SEASON: Exterran
"Given an increasing number of attractive projects in both our gas and water segments, we have embarked on a comprehensive review of our capital structure to insure that we can take advantage of these opportunities."
Velocity Financial Provides a $500,000 Factoring Facility for a Water Treatment Services Company
Velocity Financial is pleased to announce a $500,000 Factoring Facility for a water treatment services company based out of West Texas.
Mountain Valley Pipeline delayed again as project cost keeps rising
The delay factors in more time that the primary developer of the pipeline slated to travel from Northwestern West Virginia to Southern Virginia says it will need to get water crossing permits for the project, which was originally scheduled for completion by the end of 2018 at a cost of just $3.5 billion.
Ovintiv Moves to Streamline Costs, Debt by Focusing on Anadarko, Montney and Permian and Sand
Denver-based Ovintiv Inc. streamlined the business during 1Q2021 to focus only on the Anadarko, Montney and Permian basins as it eyes slashing debt to appease restless investors.
Oil Reaches Seven-Week High as Traders Bet on Improving Demand
Oil climbed toward $66 a barrel on optimism that the resumption of economic activity in the U.S. and Europe will underpin demand.
PERENfra and DIF Capital Partners Announce North American Water Infrastructure Partnership
PERENfra LLC (“PERENfra”) and DIF Infrastructure Fund VI, managed by DIF Capital Partners (“DIF”), are pleased to announce the signing of a partnership agreement to develop and acquire water infrastructure opportunities in North America. The partnership will focus on all areas of water for municipal and industrial uses, targeting large scale investments towards development of a significant portfolio of over USD $1.5 billion.
Halliburton, Baker Hughes 'Cautiously Optimistic' about Pandemic Recovery
Oil field services giants Baker Hughes and Halliburton said they are “cautiously optimistic” that the industry is recovering from the worst oil bust in decades caused by the global pandemic.
US Economic Momentum Could Lift Oil Prices
Strengthening demand from the world’s major economies, notably the United States, could help drive the price of oil higher this week, analysts said.
Rising Air Travel Starts to Lift Jet Fuel Demand
The growing number of commercial airline travelers is starting to lift jet fuel demand ahead of the peak summer travel season, according to a report from the Energy Department.
Water Scarcity & Drought are Consuming the Western U.S. – Your Produced Water Can Offer A Lifeline While Improving Your ESG Performance
In the fall of 2020, the team at Integrated Sustainability began working with a prominent oil and gas producer in California to capitalize on the untapped value of their oilfield produced water.
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