This week, we extend a warm welcome to the Oilfield Water Markets 2nd Annual Conference’s newest PLATINUM sponsor: Sourcenergy.
More sponsors joining the event over the past week or two at various levels include Goodnight Midstream, Select Energy Services, Pilot Water Solutions, XRI, Hydrozonix, Winston & Strawn, Rystad, Seawolf, ENGAGE, and Energy Water Solutions. Thanks to all our great sponsors, which you can see listed with the speakers and agenda at this link. A few more conference quick hits before the news digest:
- only 5 weeks left until the conference
- early bird pricing expires at close of business today
- registrations are trending on pace for sell-out
- >300 attendees expected; everyone will be there
- strong E&P operator presence in early registrations
- extremely topical US oilfield water business agenda
Grab your passes now for the hottest networking and knowledge sharing opportunity in the shale water business this year!
Now here is this week’s industry news…
An Issue Weighing Heavily On Our Heart And Mind Today...
We start the digest today not with industry news but by bringing attention to a very important community issue. One of our industry's own is deeply hurting. Let's show them the love, support, and goodness of the oilfield water community. May God bless Jacqueline and the Durand family.
The Cost of Dealing with Permian Earthquakes
Permian oil producers are facing hundreds of millions of dollars in additional costs to address the growing problem of earthquakes in the nation’s most productive oil field.
Oklahoma's oil regulator to shut some disposal wells following large quake
Oklahoma's oil and gas regulator said on Monday it would shut deep saltwater disposal wells and restrict others near where a large earthquake earlier in the day rattled homes and businesses in the northern part of the state.
XRI & NGL Enter Permian Water Recycling Collaboration
XRI is the largest produced water recycling company in the Permian Basin, employing innovative practices and patented treatment technology, and managing total water volumes in excess of 1.2 million barrels per day. The flexible, non-exclusive nature of this joint effort with NGL allows each company to continue to operate produced water reuse and recycling activities independent of one another.
Texas oil regulator: We are taking real steps to reduce earthquakes
Commissioner Jim Wright says "Seismologists have determined it is the injection of water into the deeper formations that is likely responsible for the recent earthquakes in the Permian Basin.... Where will this water go now that deep injection has been curtailed? The Railroad Commission is working with operators to expedite approval for additional shallow wells."
March 10-11, 2022 PLATINUM Conference Sponsor Spotlight: Sourcenergy
"Sourcenergy helps E&Ps, water midstream and water services companies find opportunities for new business, cost savings and risk mitigation in the oilfield water supply chain. Sourcenergy applies artificial intelligence to detect, analyze and visualize upstream energy and water activity such as well pads, frac ponds, rigs and frac crews earlier, more completely and more accurately than any other source, to give our clients a an edge over old school regulatory data."
Earthstone Energy Announces Midland Basin Asset Acquisition for ~$860 Million
Earthstone Energy, Inc. announced that it will acquire the assets of privately held Bighorn Permian Resources, LLC located in the Midland Basin.
WATER TALENT POOL: Energy Water Solutions Expansion
Energy Water Solutions is growing rapidly and is posting openings. Their are also a new sponsor of the 2nd Annual Oilfield Water Markets Conference this week, and their CEO Beau Egert will lead a round table discussion on emerging frontiers at the event in March!
WATER TALENT POOL: EOG's Dustin Kinder Becomes CEO At Goodwell
Dustin became Goodwell’s second CEO in January 2022. Before coming to Goodwell, Dustin led water management efforts for EOG, serving as the strategic, technical and operations lead for all operating basins as it pertained to all water management activities in addition to duties with investor relations and sustainability reporting.
WATER TALENT POOL: Select Energy Services Is Hiring
Open positions in Williamsport, PA that they need to fill.
Carbonet's Novel Chemistry Combines With Innovative SEEPEX Pumps in Strategic Partnership
SEEPEX, a leading worldwide specialist in progressive cavity pump technology, has entered into an agreement to supply clean technology company CarboNet™ with pumps for its water treatment solution, NanoNet Fe™.
Permian About To Be Swept By Big Freeze - Water Midstream & Frac Crews Are Getting Ready
In this update, see how the sand mines are preparing - in addition freeze offs, production impacts, disposal capacity, and trucking could all experience a challenges between now and Saturday...
Water management - whole lotta shaking going on
Mark Patton writes: "Unfortunately, with only modest growth in well completions, recycling is not going to provide the relief to removing a significant amount of disposal capacity off the market."
Thank You Sponsors!
The Oilfield Water Markets 2nd Annual Conference is right around the corner and without the continued support of sponsors, events like these would cease to exist.
Goodnight Water Solutions, LLC -- Moody's rates Goodnight Water Solutions' new term loan B3; outlook positive
Moody's rates Goodnight Water Solutions' new term loan B3; outlook positiveGlobal Credit Research - 28 Jan 2022$400 million new rated term loan
Exxon Joins Chevron in Permian Oil Surge as Peers Preach Caution
Exxon Mobil Corp. said Tuesday it plans to boost output by 25% this year in the Permian Basin, the biggest U.S. oil-producing region. That comes four days after Chevron announced it will ramp up its own Permian supplies by 10%, from an even larger production base. Such aggressive targets from the Western world’s largest oil majors are a surefire sign that U.S. shale is back to growth mode after cuts in 2020 and a lackluster 2021.
TETRA Recycling Over A Billion Permian PW Gallons A Year
In 2021 SwiftWater, A TETRA Company, recycled over one billion gallons of produced water in the Permian Basin for reuse in well operations.
TAQ Energy & ENGAGE Announce Partnership to Improve Data Transparency for P&A Activities
TAQ Energy, an oilfield abandonment service company, and Engage Mobilize, Inc (ENGAGE) announce a partnership to develop a cloud based operational and financial platform for TAQ's well servicing business.
Gearing Up For E&P Budget News [Chart Of The Day]
Over the next several weeks, a flurry of E&P annual capex budget announcements in shale will make headlines and set the tone on the addressable market for oilfield services this year. Here's a preview to help you get ready...
Play The Game - Morphing Midstream Dealmaking Into Energy Transition And 'Near Green' Opportunities
Midstream trends opened the door for smaller companies to exploit lucrative niches. These are the independent, usually PE-backed companies looking to get a toehold in the market, build up their business, and then flip it for a profit, often to an infrastructure fund or strategic buyer. They frequently begin with smaller-scale, greenfield developments (less than $1 billion) and often focus on gathering and processing, terminals or connecting pipelines that develop over time.
RRC reports heavy contamination at Crane County blowout, source of water pressure still unknown
In an open meeting on Jan. 25, 2022, the Railroad Commission of Texas provided an update on the Crane County blowout that produced a 100 ft. geyser of brine water.
Biggest US Land Driller Adds More Rigs While Lobbying Customers For Higher OFS / Rig Pricing
H&P said this week: "we need substantially higher pricing to generate returns that attract and retain investors..."
Colorado Planning To 'Aggressively Assert' Source Water Rights In Looming Battle With Nebraska
As source water scarcity continues to plague the nation, a battle is looming between two states that feel they are entitled to the same supply.
OIL MARKET: The OPEC+ meeting lasted just 16 minutes, a setting a new speed record. The group, lead by Saudi Arabia and Russia, agreed to increase its oil production by a nominal 400,000 barrels a day for March
Surprise Crude Draw Suggests Tighter Oil Market
The American Petroleum Institute (API) estimated the inventory draw this week for crude oil to be 1.645 barrels after analysts predicted a build of 1.833 million barrels.
Thursday’s Tragedy In Kermit Reminds Us That Driving Is The Most Dangerous Oilfield Activity
During foggy conditions Thursday morning, a sand hauler exiting an in-basin mine was involved in a fatal crash.
OPEC Underproduction Is Driving Bullish Sentiment In Oil Markets
Bullish sentiment has taken over oil markets, with long positions outnumbering short positions by 13 to one as OPEC resists pressure to ramp up production.