Thank you to the 320 folks who joined us in Dallas last week for the 2nd Annual Oilfield Water Markets Conference! It was a great success thanks to the speakers, sponsors, and attendees who made their presence felt in a big way.
If you attended, you should have received instructions on accessing conference slides yesterday (if not, just reply to this email and we’ll help out).
Now here is this week’s industry news…
U.S. Energy Secretary to oil and gas execs: Increase production now
Standing before executives of the largest energy companies in the world, U.S. Energy Secretary Jennifer Granholm made an urgent plea for their help in dealing with the fallout of Russia’s war with Ukraine: Produce more crude and natural gas — now.
Texas rig count jumps as the world clamors for more oil
The number of drilling rigs operating nationally climbed by 13 to 663 this week, according to oil field services company Baker Hughes. Most of the production growth came from Texas, which added 12 rigs.
Permian Drilling Heat Map As Rig Count Rises
After last week’s quiet week for the U.S. rig count while oil prices surged, the drillers snapped back into growth mode this week with the Baker Hughes rig count increasing by 14 units (mostly driven by horizontal oil activity gains).
Texas RRC Aiming to Curb Permian Quakes with Produced Water Plan
The Railroad Commission of Texas (RRC) recently launched an oil and natural gas operator-led response plan in West Texas that targets seismicity from produced water injection wells in the Permian Basin.
Thank You Chairman!
Thank you Railroad Commission of Texas Chairman Wayne Christian for delivering the policy keynote last week at the oilfield water markets conference!
US energy industry is best defense against Russian violence, says Sen. Manchin
The U.S. energy industry is our best defense against Russian violence, “and by God we better start using it,” said Senator Joe Manchin, D-West Virginia, said Friday.
Texas Pacific Land Corporation Announces $100 Million Stock Repurchase Program
Texas Pacific Land Corporation is one of the largest landowners in the State of Texas with approximately 880,000 acres of land in West Texas, with the majority of its ownership concentrated in the Permian Basin.
What Permian Recycling Means In Consumer Terms
If 15% of total Permian #producedwater is reused, this saves 4 years' worth of freshwater for a population the size of Midland / Odessa!
STRONG E&P Operator Participation At Dallas Water Conference Last Week
We want to thank the dozens of E&P representatives that attended and spoke at the Oilfield Water Markets conference last week. Attendee feedback valued their presence and operator voices were heard on multiple panels, including the closing panel (pictured at the link below) featuring Apache's Tyler Hussey, Marathon's John Coyle, and Pioneer's Alan Van Reet. E&P input is critical in discussions like those had last week, and we thank the E&Ps, both large and small, that joined the conversation for the betterment of the industry last week.
$100 Oil Is Back! Why Isn’t Texas Drilling?
Russia’s war on Ukraine has made it practically patriotic to pump oil, but the Permian hasn’t ramped up production. Don’t blame Washington. Blame Wall Street.
EOG, Devon hold thousands of untapped oil drilling permits
EOG Resources and Devon Energy are sitting on thousands of federal onshore drilling permits, more than any other companies, according to a Bloomberg analysis, although neither plans to increase production by more than 5% even as U.S. oil futures exceed $120/bbl.
NEW Ideas In Produced Water Sustainability
Last Friday in Dallas, a panel introduced some fresh thinking in oilfield water that we think folks will be talking about in other forums in the months and years to come... How do we underwrite sustainability in oilfield water management? What novel environmental market structures are coming to produced water? What concepts will oilfield water firms adopt from renewables? Tradable credits, avoided disposal standards, government incentives... this is the kind of stuff that could shape the future of sustainability in oilfield water market structures, and you had to be there to hear the experts discuss it!
Air pollution from oil and gas to be restricted by New Mexico's new rules
New Mexico environmental regulators entered a final step in developing new state rules to limit air pollution emissions from the oil and gas industry that could cause ground-level ozone to form in New Mexico.
The facility of the future is "mobile, agile, hostile"
Great forward thinking panel on what the future holds for #watermidstream infrastructure with Chevron, Diamondback Energy, WaterBridge Operating LLC, and RECON LDS LLC.
Water Quick Hits From The Biggest Executive Conference Of The Year; Sand Thoughts Too….
We had a great time at the 2nd Annual Oilfield Water Markets Conference hosted by our friends at Oilfield Water Connection. Here are a few quick thoughts from the sidelines of the event...
New Data On Seismicity
Josh Adler delivered an excellent presentation last week at the oilfield water markets conference. Thanks to Josh and team for their involvement in the event and a very thoughtful presentation...
Why Increased U.S. Oil Production Could Ultimately Cushion Price Hit To Economy
"We do believe that higher oil prices will lead to increased domestic energy production which could help offset higher oil prices or any potential U.S. embargo on imports of oil from Russia," said Michael Gapen, managing director and head of economic research at Barclays.
Ecopetrol will develop a platform for intelligent water management
Colombian state-owned oil company Ecopetrol and multinationals Accenture and Amazon Web Services (AWS) will develop a platform for intelligent water management, seeking to accelerate operational efficiency and sustainability across the energy industry.
2022 Public E&P Capex Budget Patterns & Predictions [Chart Of The Day]
Oil prices are exceptionally volatile and now well below their early-March high point. However, WTI is still $95/bbl as of this writing, which is still well above the price decks used by public E&Ps to set their budgets.
Midland Over Moscow
Kelly Bennett delivered a great talk last week covering the feasibility of "Midland over Moscow" and water constraints. Thanks to Kelly and the B3 Insight team for sharing their knowledge at the event...
Soon everybody will be thanking us for conserving and providing fresh water for generations to come.
The oil & gas industry is making strides in regards to water recycling and reuse.
Businessman Launches AMSYS Energy Following Acquisition of 84 Acre, Three Injection Well Energy Services Company Blackwater SWD
AMSYS Innovative Solutions, LLC, the technology and cyber security portfolio company of AMSYS Group, assisted AMSYS Energy in automating the facility, including the installation of state-of-the-art IOT sensors and ticketing software.