Oilfield Water Weekly

Wednesday September 29, 2021

Only two weeks remain until the 3rd Annual Oilfield Water Industry Update on Oct. 15th at the Houstonian.

So before today’s jam-packed news digest (deal flow is heating up), here are a couple last minute event notes:

  • Seats Going Fast. The event is on track to sell out (2/3rds of the available seats are already taken). Book now if you haven’t already done so to make sure you have a place at the conference – you don’t want to miss this opportunity.
  • Reception Extension. After the year we’ve all been through, you deserve great in-person networking with a cool drink in your hand this fall. So we called the Houstonian this week and extended the Ranch Water Reception by 50% to maximize the delegate experience! This will be the perfect way to unwind and compare notes after a great day of learning. Plus, while rubbing shoulders with the industry’s finest, you might just land your next big deal. You miss 100% of the shots you don’t take, so be here!
  • Just When You Think The Agenda Can’t Get Any Better… It Does. We have continued to add big names to the cutting edge topic lineup – see the latest here.
  • Hotel Rooms. If you are traveling, please note that our Houstonian room block is only guaranteed until today at 5pm. Our reduced room rate of $225 per night is dramatically better than the best rate available from the hotel of $379 per night! Book your room in our block here, and stay for the weekend at our reduced rate to enjoy one of the finest resorts in Houston!

Online Registration Is Open Here>

And now this week’s news…


News Digest

Goodnight Midstream's Former CFO Andrea Bernatova Heading Up A $200mm Energy SPAC IPO

ESGEN Acquisition, a blank check company formed by Energy Spectrum targeting decarbonization trends in the energy and infrastructure value chain, filed on Tuesday with the SEC to raise up to $200 million in an initial public offering. The company is led by CEO and Director Andrea Bernatova, the former CFO of resiliency microgrid company Enchanted Rock Energy and midstream water infrastructure company Goodnight Midstream, and Chairman James Benson, a Founding Partner of Energy Spectrum, a venture firm with extensive investment experience across the energy infrastructure value chain.

Digesting The First Water Midstream Pure Play IPO Filing

Solaris Water Midstream is going public. More accurately, a newly formed entity “Aris Water Solutions” with Solaris as its predecessor firm is going public. Rumored as a confidential IPO filing about a month ago, company has now publicly filed their intent to go public with the SEC on 9/23/21. Here are your S-1 cliff notes...

Reading the Solaris Water Midstream (aka Aris Water Solutions) S-1, this statement really jumped out....

"We are piloting and developing proprietary processes for treating produced water for environmental, agricultural and industrial water demand, including evaluating the use of treated produced water as process water for carbon sequestration and direct air capture." The overlap (aka opportunity) between #watermidstream and #carboncapture is a cutting edge topic on the agenda at our upcoming Oct. 15 #producedwater conference.

BIG News On Midland Basin Production Front As RRC Requests PW Injection Curtailments Due To Seismicity…

On Friday, 9/24/21, the TX RRC press released that it has sent a notice to the operators of 76 SWDs in the Midland basin requesting they curtail their maximum daily injection rate to 10kbpd in response to increasing seismic activity in the Midland Basin. TX RRC will also stop issuing SWD permits in an area of concern near Midland.

Bloomberg: Quakes Tied to Fracking Spur Rare Crackdown From Texas Regulator

(Bloomberg) -- After six earthquakes rattled the Permian Basin over the past 19 months, the Texas oil regulator is asking drillers to cut back on the amount of dirty water they’re pumping underground.

Water Energy Services Acquires Key Energy Services Water Assets

Water Energy Services announces the acquisition of the FMS Business from Key Energy Services. The FMS Business includes 32 SWDs, frack tanks, transport vehicles and other equipment located in Texas and New Mexico.

Antina Ranch Update 1 – Offset SWDs Are NOT To Blame Says Ranch Owner - This Is A Key Distinction

"Starting to look like our underground brine blowout problems are NOT from offset SWDs," Ashley Watt writes on Twitter.

Antina Ranch Update 2 – Aquifer Pollution Allegations

“The well has been blowing out toxic, radioactive brine directly into three separate freshwater aquifers,” a ranch attorney testified on Sept 28, 2021 in front of Texas Regulators.

Conference Update: Ranch Water Reception Extended 50%!

After the year we've been through, you deserve in-person networking with a cool drink in your hand this fall. So we just called the Houstonian and extended our Oct. 15th Ranch Water Reception by 50% to maximize the delegate experience!

Conference Update: All The Top Firms In Sector Will Be There, Will You?

Here are just a few of the companies who have registered their executives to attend: WaterBridge Operating | Exterran Water Solutions | Solaris Water Midstream | Oilfield Water Logistics | Apache | Blackbuck Resources | H2O Midstream | Kirkland & Ellis | LiEP Energy | Winston & Strawn | Lonquist & Co. | Breakwater Energy Partners | Guggenheim Securities | Locke Lord | The Baker Institute | Piper Sandler & Co. | Pickering Energy Partners | Beneficial-Use Water Alliance | Lium Research | Sourcewater | Energy Water Solutions | Infill Thinking | B3 Insights | Energy Makers Advisory Group | The Petroleum Connection | Primexx | McKim Creed | Helios | EagleClaw Midstream | NMR Pipeline | Permian Oilfield Partners | SCS Engineers | Baseline Energy Services | Source Rock Midstream | Palisade Pipeline | BuySWD.com | KETOS | Core Linepipe | Fairfield Geotechnologies | Rystad Energy | ALL Consulting | Seawolf Water Resources | Vitol | Wanner Engineering | Orion Water Solutions | ChemTreat | Arrow Land Group | Ace Fluid Solutions | Ironhorse Permian Basin | Wood PLC | De Nora Neptune | Ecozonics | Bloomberg News | RECON LDS | Goodnight Midstream | Cawley Gillespie & Associates | EnCoreGreenEnvironmental.com | Pilot Water Solutions | and more!

Conference Update: PW Is Plentiful, Topo Chico Is Not... But Don't Worry, We Gotcha Covered

When the Houstonian told us they are struggling to procure Topo Chico right now, we shopped dozens of sold-out shelves around DFW until we found one store that had just gotten a shipment. We backed up the truck at this lucky find - literally - and bought the store out!

CNN: Here Comes $90 Oil...

Goldman Sachs ramped up its already optimistic forecast on Sunday, calling for Brent crude to hit $90 a barrel by the end of the year. That's up from its previous call for $80.

Gas-Starved Europe Can't Look West as U.S. Faces Its Own Crunch

Americans are likely to see the highest energy bills in years after shale drillers slowed their production expansion while demand spiked.

E&P M&A: U.S. shale producer Centennial launches Texas land sale

Centennial Resource Development Inc is seeking buyers for properties covering about 6,000 net acres in the southern Delaware basin of Texas, according to the company managing the sale.

E&P M&A: U.S. gas producer Gulfport Energy explores sale -sources

Gulfport Energy Corp (GPOR.N), a U.S. natural gas exploration and production company which emerged from bankruptcy earlier this year, is exploring strategic options including a possible sale, according to people familiar with the matter.

Follow Up Article On Permian Water M&A In The JPT

A pair of active water management players have completed separate deals to expand their individual offerings in the Permian Basin of west Tex

Fitch Affirms WaterBridge Midstream Operating IDR at 'B-'; Removes Negative Watch; Outlook Stable

The removal of the RWN and assignment of Stable Outlook reflect a 2Q21 EBITDA figure that exceeded Fitch's expectations, and, furthermore, reflected durable produced water volumes from the Delaware basin, in Fitch's judgment.

What’s the going rates for ~1MM bbl frac water sourcing in W Texas?

Interesting thread where folks offer context on rates then and now...

City of Alice and Seven Seas Water Group Announce Contract to Build First P3 Brackish Water Desalination Plant in Texas

The City of Alice, Texas and Seven Seas Water Group, a multi-national provider of Water-as-a-Service® (“WaaS®”) solutions, today announced that they have successfully executed a contract for the construction of a Public-Private Partnership brackish water desalination plant to provide fresh drinking water to the residents of the City of Alice, Texas.

Yikes!

Trinity Environmental SErvices writes: "We don’t know how others feel, but we are done with those who chose to use an SWD as a solids facility. We intend to enforce all covenants of our MSA against those that continue. Couldn’t pump it off so just opened the other valve to push onto the offload rack."

Attorney Offers Thoughts on the RRC Comments Regarding Quakes

"We need to get serious in Texas. Serious about protecting our groundwater. Serious about continuing to be a global leader in energy production. And serious about how we’re going to achieve both things. Global warming won’t matter if we don’t have clean water. And we have a lot more data and ability to control groundwater protection than we do global carbon emissions."

Exterran Corporation Provides Commercial Update

The Company has been awarded a new Contract Operations project for Exterran Water Solutions business at a similar value to the project the Company announced earlier this year. With this new water project, water will now comprise over 25% of the total Company’s Contract Operations backlog.

Water Implications From Wet Sand In Fracs

This could increase fresh water demand near wells if it translates into more mini-mobile mines...

Wet Sand Renovations About To Begin At Chesapeake’s Burleson Mine

While attending Chesapeake’s open house at their Burleson Sand Mine this week, one of the key takeaways was pending changes to their facility to accommodate wet sand production / load out more efficiently.

Water Will Be One Of The Biggest Investment Categories Of This Decade

Carbonet's CCO Amielle Lake Writes: "#water will be one of the biggest investment categories of this decade (+ for decades to come!) ...and rightly so! Clean water is critical. Demand is not driven by government credits and incentives. It is the output of rapidly decreasing supply. #recycledwater is the future..."

Valiant explores the challenges and emerging solutions in water management

"As conventional fields mature and global oil production increases, the total volume of produced water will also rise.."

Rig Market Heats Up

Rig count keeps rising (US land rig count is now up 263 rigs y/y, more than double vs. a year ago) as operators are now adding rigs to offset DUC declines. The activity momentum appears very likely to carry into 2022, especially in this commodity tape.

U.S. Drought Monitor Map

Not a pretty picture...

Weld County oil spills for Sept. 29

KERR MCGEE OIL & GAS ONSHORE LP reported Sept. 24 a historical well spill near Weld County Road 16 and U.S. 85, in Fort Lupton. An unknown amount of oil, condensate and produced water spilled.

Company responsible for 29 million gallon spill pleads guilty; civil settlement pending

Summit Midstream Partners entered the pleas in federal court Wednesday after indicating last month that it would do so under the terms of the agreement.

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